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Vice President, Supply Chain and CFO, New York Fasteners  Turning a family run business into a leading supplier for the global aerospace market is something Doreen Remmen knows a lot about. Over the past 11 years the vice president of supply chain and chief financial officer has helped NYF Corp. transform from a small, family-style business to a professionally run organization 10 times its previous size.
"We have experienced rapid growth in the past decade as we focused on reducing our customers' costs of procuring, receiving, inspecting and handling a multitude of small components through innovative supplier managed inventory programs," said Remmen. The company is in its second generation of ownership by the Basner family. For the past 50 years NYF Corp. has supplied fasteners and related assembly components to major U.S. based original equipment manufactures. Currently, Remmen is responsible for all supply chain activities in the organization. Her staff of customer account managers and commodity managers interprets customers' requirements and ensures the continuous flow of parts and information throughout the supply chain. "We have focused significant effort on systems development, supplier selection and negotiation, and the implementation of large supplier-managed inventory programs for our customers," she said. Her advice to fellow suppliers looking to spark company growth is simple. "Develop a clear strategy that is aligned with the needs of your most important customers," Remmen said. "Leverage the power of your employees through teaming and lean systems." This advice has worked well for NYF Corp. According to Remmen, the company has developed robust supplier managed inventory systems, integrating it with its customers, which has led to long-term agreements with major manufacturers across the United States and in Europe. She credited AIA as a catalyst for NYF Corp.'s business success. She is an active member of the association, attending meetings and networking with customer executives. "AIA and the Supplier Management Council have become very important resources for understanding the future and meeting the challenges we face," she said. Right now she is working with the SMC on issues of importance to suppliers, such as association health care, export control reform, and modifying the Berry Amendment. Remmen's forecast calls for more growth at NYF Corp. in the next year. "We will continue our business expansion, with more than 50 percent growth projected for the next 12 months," she said. "Much of that expansion will be overseas. We will also develop alliances with other members of the supply chain, large and small, in order to continuously expand our product offerings and capabilities."
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