For the number one faucet brand in North America, the top challenge is the increasing complexity of managing supplier capacity while minimizing overall inventory. Ensuring that product arrives on specific dates is crucial to the satisfaction of the end customers they serve, and warehousing merchandise just in case something goes wrong doesn't help the bottom-line.
Moen was one of the first innovators to join NYSHEX. They initially used NYSHEX for opportunistic spot purchases. That changed, however, when volatility struck the industry.
Michael Bauer from Moen describes the peak season of 2018 as "an unprecedented front-loading pattern in July/August as well as October/November to beat the [newly imposed China trade] tariffs. Couple that with capacity withdrawals, and weather impacts at both origin and on the USEC; it was an incredible year."
Throughout the crunch, Moen secured their space through NYSHEX to keep their product moving while other importers struggled.
As Chinese New Year approached, they again looked ahead and felt it was important to secure extra guaranteed capacity prior to the holiday. Having committed space in an enforceable contract protected all critical shipments.
Whatever the crisis in ocean shipping, Moen knows that contracts secured by NYSHEX are guaranteed to load on the vessel as planned.
“We now look at NYSHEX as a part of our ongoing strategy, a new channel for us to contract space.” -Michael Bauer.
“NYSHEX is a very innovative, but simple concept. I would recommend that any shipper seeking true visibility should take a long look at how NYSHEX could work for them. It is easy to use - from agreeing to purchase space, through to booking and the shipment process - it is an excellent tool to ensure cargo moves as planned.”- Michael Bauer, International Transportation and Customs Manager