There are three functional responsibilities that are critical to the survival, and growth, of all distributors. They are business development (need more sales!), effective inventory management and collections (inferring that credit is provided). To achieve this companies need to be responsive to customers. A happy / satisfied customer represents the potential to be a repeat … [Read more...] about Customer Satisfaction vs Inventory Management
Technology & Digital
Grainger Q2 Earnings … Industrial slowdown continues
It\'s Q2 earning season, providing distributors (and manufacturers) with an opportunity to benchmark their performance, gain insights (or confirmation) on what they are seeing in the market and possibly learn a little from publicly held companies. First up is Grainger whose results reaffirm that the industrial slowdown continues, albeit it is no longer in free fall. Grainger … [Read more...] about Grainger Q2 Earnings … Industrial slowdown continues
Getting Found Online…Site Optimization (SEO)
Do you know if your website, including eCommerce engine is optimized? Is your company an SEO master? Whoever said “build it and they will come” never developed a website. Making the investment in a website (and eCommerce) is, as they say, “the easy part” as it takes money, process / project-oriented people and product content. The hard party is generating traffic to your … [Read more...] about Getting Found Online…Site Optimization (SEO)
An Industry Undergoing Change
We\'ve just passed the 6 month mark for the year and while there has been much change, the past month highlighted many and accelerated some. Consider: Consolidation Shealy sells to Border States to create a $2B ESOP. Grove Madsen sells to Sonepar Cape Electric sells to Graybar And we\'ve talked to others that have either expressed interest in selling (and have inquired … [Read more...] about An Industry Undergoing Change
Driving Your eSales Rate
As mentioned last week, one of the topics of various sessions, and with distributors, was eCommerce and eSales. The companies that are viewed as more progressive, perhaps more profitable and who are positioning for future growth are driving their business this way. Some of discussion at the NAED National may be due to Amazon stating that Amazon Business crossed the $1 billion … [Read more...] about Driving Your eSales Rate
Ready for Growth?
As you sit around your corporate boardroom and and make decisions that impact growth either via acquisition or generating incremental sales, many don\'t give consideration to PRODUCTIVITY (in the back office). Why is that? Well, many assume, albeit incorrectly, that all the \".\"s are dotted and \"T\'s\" are crossed. Many feel their company operates optimally and is \"the best … [Read more...] about Ready for Growth?
Moneyball for Growth
If you are stymied with geographical growth and think that many of your customers are not buying all they can from you, the odds are stacked in your favor that they aren\'t. Why? Because you don\'t know. Unless you have access to all your sales data and more importantly your sales people have access to it, then you are flying blind. Compound this if you are running a 10+ year … [Read more...] about Moneyball for Growth
