Stellar Industrial Supply, 3M Team to Save Joint Customers Nearly 24% in Documented Cost Savings in 2019
3M wins Stellar Industrial Supply “Horse Race” Award; Sandvik Coromant wins 2nd place with nearly 23 perecent in joint cost savings
Tacoma, WA — Stellar Industrial Supply, which distributes more than 35,000 MRO (maintenance, repair and operation) products and tools from more than 1,500 brands for Safety, Metalworking, Marine Supply, Aerospace, and other general manufacturing and processing organizations, and also offers customized Indirect Material Management solutions, today named partner 3M as the winner of its Documented Cost Savings “Horse Race” Winner of the Year award for 2019.
The Horse Race Award recognizes partners like 3M who work closely with Stellar Industrial Supply to help joint customers they serve reduce or eliminate plant and production inefficiencies. Working together on behalf of 147 customers, in 2019, 3M and Stellar Industrial Supply saved those joint customers nearly 24 percent off the total cost of anticipated spend. This equates to more than $3 million in documented cost savings overall.
Sandvik Coromant, who with Stellar helped 31 customers save nearly 23 percent, or more than $1 million in documented cost savings, was named 2nd place winner.
“Stellar and its great, long-standing partners such as 3M and Sandvik Coromant are aligned on a single mission to help our customers pinpoint areas of inefficiency and unnecessary spend, while maximizing and optimizing plant operations. Beyond our work with 3M and Sandvik Coromant, it is gratifying to report that in 2019, Stellar Industrial Supply and its partners generated more than $17.2 million in customer approved document cost savings,” said Stellar Industrial Supply President and CEO John S. Wiborg.
The Stellar Industrial Supply Documented Cost Savings (DCS) program creates “Ideal Customer-Supplier Partnerships”. Working on behalf of both parties, Stellar Industrial Supply deploys the most efficient, cost-effective products that optimize plant operations and help run them smartly and safely.
Since inception in 2010, the DCS program has generated more than $120 million in customer approved documented cost savings.