Nearly 10 years ago, Wal-Mart launched a major sustainability program impacting the majority of its stores. While good for the environment and helping to promote sustainablity, Wal-Mart also found these changes lowered the company’s costs. Wal-Mart realized that if its vendors and suppliers could take similar steps, they too might be able to reduce operating costs.
The infrastructure problems are increasing business costs and it will only get worse. Whether it...
Purchasing cooperatives, or co-ops, offer mutually beneficial purchasing solutions that enable...
Manufacturers need to be able to clearly visualize and understand what is happening to the leads...
The recognition that a world-class MRO operation is a necessary component of reliable equipment is essential. Subsequently, awareness is not enough; the ability to actually implement change is critical to produce a competitive and reliable product.
Jack Keough weighs in on MSC Industrial Direct's second quarter earnings, including MSC's President and CEO Erik Gershwind's comments to financial analysts that manufacturing, particularly the metalworking sector, has “improved considerably” from what had been occurring during the past 18 months.
Sales and Operations Planning, as its name implies, is a process that brings all the departments from sales at one end to suppliers at the other together in a way that allows for significant improvement in company results.
There have been a series of articles on this subject and the topic is covered in almost every software manufacturer’s PowerPoint presentation to a new prospect. The truth is that every company has a unique set of circumstances and will require its own way to justify a major project. In general, a good approach is to look at the investment from both a quantitative and qualitative perspective.
I attended a panel this past weekend where independent bookstore owners discussed the book-selling in today’s economy: what it looks like, the struggles they face, and the overall feel of the marketplace. Throughout the hour-long discussion, I couldn’t help but think how similar the situation was to what distributors are facing today.
Most companies stratify their items in some shape or form, but few apply more than a single or dual data point methodology. Stratifying the items that your company stocks can help create focus on the products that are currently carried and are doing well, versus the ones that have fallen into the “black hole” of slowmoving and dead inventory.
Ever since the Great Recession, there has been a debate about investing in rebuilding our infrastructure to create new jobs. But just what is infrastructure and how much of it needs to be repaired or replaced?
Every industrial distributor deals with the looming problem of dead inventory at the end of every period. Yet, even though they know that the less inventory they have the better off their business is, the task of actually moving dead inventory is easier said than done.
An entrenched distributor, for example, would likely be in the driver’s seat, capable of straddling manufacturers and customers and calling the shots to their strategic benefit. The stuck distributor, on the other hand, probably has fewer options and is at risk of being marginalized or, even worse, being squeezed out of the supply chain altogether.
Executive Editor Anna Wells discusses the lies we tell ourselves that ultimately hold our businesses back.
It’s a waste of time for many companies to hire a manager who isn’t cut out for the job or try to adapt them to the role without proper mentoring and training.
Online marketing represents a tremendous opportunity for growth for your company, as more business is conducted online now more than ever before. Here are seven online marketing ideas you should embrace to be successful.
Efforts at reducing carbon emissions, recycling and purchasing green products serve as common examples of ways in which many businesses try to be more eco-friendly. However, more and more firms are finding that automating their warehouses and distribution centers offers a great way to go green while adding efficiencies and savings to operations.
Earlier this year, Huron strengthened their commitment to reducing energy consumption by converting interior and exterior lighting in their heating and cooling facility from traditional HID to LED fixtures – the most efficient technology available today.
If you’re looking to save costs on shipping, take a look at inbound shipping. Depending on the industry and size of the company, a business can spend more than 40% of its annual freight budget on inbound shipping, according to the Aberdeen Group.
There were two big announcements last week in the push for the creation and reshoring of American manufacturing jobs.
Do Millennials really wield the power to tank every business with their reported anti-consumerism? Are they really as entitled and indifferent as we’d like to believe? My bet is that they’re just broke.
When you combine all the factors, it’s easy to predict that traditional “feet on the street” distributors will need to evolve to survive. The sooner they innovate, the better the chance to prevent irreversible customer churn that is typical when disruptive technologies like AmazonSupply.com hit their stride.
According to Jack Keough, the Kaman Distribution Group is well on its way to becoming of the largest distributors for Parker Hannifin. In addition to B.W. Rogers, Kaman has acquired several Parker distributors in the past few years.
What could this mean for the distribution space? It is making it easier than ever for the man on the street to sell on a high-visibility ecommerce platform with little to no upfront investment.