Bullet Makes Good On Promises Made In April 2010 Letter
Miami-based Bullet, a member of Polyconcept North America (PCNA), the fourth-largest supplier within the promotional products industry, announced significant gains in inventory availability and effective customer service. When Bullet started 2010 by launching a new look for its brand and sharpening its strategy of offering popular items at unbeatable prices, it underestimated customer interest. At the same time, the industry’s overall rate of recovery was beyond expectations, and the entire industry suffered supply chain challenges due to labor shortages in China. As result, Bullet struggled to keep up with increased call volumes and product demand. Bullet responded as quickly as possible on both fronts, implementing short- and long-term solutions and communicating those efforts to customers in an April 19th letter from David Nicholson and Bob Herzog, presidents of PCNA and Bullet, respectively. Recent feedback from customers on Bullet’s response and the results has been overwhelmingly favorable.
Specifically, Bullet increased its customer service staff by 25 percent and implemented an extensive training program focused on enhancing all customer interactions. One of the most obvious positive outcomes of the initiative has been a 75 percent reduction in hold times for callers.
Bullet has also continuously improved its inventory position over the last several months. After weeks and weeks of high out-of-stock rates, the company now has a strong inventory position after receiving $9 million worth of inventory since April. Out-of-stock rates are at their lowest since early March, and Bullet’s inventory position will be further strengthened this summer, as the company is slated to receive an additional $8 million worth of inventory in July and August.
“We are very happy to be in position to quickly invest millions of dollars–in the form of inventory, training and increased customer service personnel–to strengthen our company and better serve our customers,” explained Bob Herzog, president at Bullet. “Due to these investments, Bullet is in a very strong position to fulfill all of our customers needs throughout the rest of 2010. We are working tirelessly to be your go-to supplier for popular items and the best prices, and these investments are a great next step.”