First Wave Aerospace Announces New Consignment Inventory
PRODUCT NEWS
First Wave Aerospace Announces New Consignment Inventory
The following is a press release provided to GlobalFastenerNews.com. Contact the individual company for additional information.
Commercial aircraft parts distributor First Wave Aerospace announced that its latest consignment of has been entered into stock and is available for worldwide distribution Tuesday, Oct. 1, 2013.
This consignor of this lot of commercial aircraft parts is a regional financial institution and consists of a quantity of 843,915 parts and/or 6,945 line items all in new condition. This lot, added to First Wave Aerospace’s already large inventory of 250 line items and 6.8 million parts, makes the 21-year-old Tulsa firm one of the largest commercial aerospace distributors in all of the Americas.
“This lot mainly consists of aerospace grade fasteners and hardware and enhances our reputation as the prime source for these type of airliner parts,” Tim White, Vice President, Inventory Development, Frist Wave Aerospace, said. “Some in our industry may refer to us the fastener and hardware supplier that holds airlines together.”
While there’s almost every type of fastener hardware imaginable in this lot, including almost 7,000 nuts of all varieties; i.e., clip nuts, blind-rivet nuts, nut plates, self-locking hex nuts, slotted nut plates, hinge nuts, 3/9 o’clock nuts, self- locking gang channel nuts, nut collars, nut anchors, sleeve nuts, plain hexagon nuts, jam nuts, clutch nuts, anti-rattle nuts, spline nuts, and plain nuts; there’s also some significant complete assembly and sub-assembly parts, like valves, plug assemblies, etc.
Tony McAnly, President, First Wave Aerospace, said this consignment is an important addition to the growing list of the financial institutions that entrust the firm to inspect tag, stock, market and sell commercial aircraft parts.
“We view this and the other aircraft parts consignment inventory we manage for financial institutions the same way a traditional bank Trust Department manages the trusts and estates of individuals. It is an entrustment of property we take seriously and we’re honored to take good care of it and to be trusted by these financial institutions to do so.”
Glen Hyden, Vice President & General Manager, First Wave Aerospace, said consignment management is a trend his firm is well positioned to lead.
“The wave of the future for airlines and third-party maintenance centers is to rid themselves of the burden of excess inventory,” according to Hyden. “Spares inventory requires considerable capital investment and in any given airline of MRO there are large amounts of valuable spares and rotable parts that are in excess. These parts can be identified, future requirements forecasted, and excess items sold, reducing inventory and freeing up much needed cash. That’s where the financial institutions and we come in to carry the cost and offer that inventory in airworthy condition on-demand 24 x 7.”
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