From industry expert Abe WalkingBear Sanchez, here are four tips on how to use your Credit & Accounts Receivables function more profitably in 2014.
Net sales in November of 2013 were $261,269 (Dollar amounts in thousands), up from $253,493 in...
In today's customer service world, the first age where phone support is preferred over web...
Sears has become known as a go-to gear destination for DIY'ers to professional craftspeople and...
Same-day fulfillment is no longer the holy grail of distribution. Leaders are enabling faster fulfillment and reaping real bottom line and competitive advantage benefits. The key is balancing potential revenue gain or service level improvement against investment and operating costs required to deliver on the promise.
Net sales in October of 2013 were $310,892 (Dollar amounts in thousands), up from $288,540 in the same month of 2012. The daily sales were $13,517, also up 7.7% from $12,545 in 2012.
Working capital is the money you need to pay for day to day operations, and a business with negative WC will not survive. WC is the funds that are or will be available to you in excess of liabilities that are due or will come due. It’s the difference between you sleeping well at night or not.
CRM can strengthen distributor competitiveness and profitability, often by allowing wholesalers to manage their sales organization as they run the rest of their business — with disciplined processes and metrics.
Supplier performance scorecards and supplier stratification modeling are related concepts, but very different in how they should be used. Supplier stratification should be an internal metric, where an organization takes other criteria (one of which can be the scorecard metric) and combines them to rank its suppliers (traditionally in an ABCD type model).
The Zilliant Optimization Platform provides customers with unlimited scalability and instant access to the latest product and science innovations, and builds the foundation for extending Zilliant’s optimization capabilities to other business challenges.
Commenting on the results, Applied’s President & Chief Executive Officer Neil A. Schrimsher said, “First quarter sales were below our expectations, as weaker industrial demand continued."
The Commerce Department said Friday orders for durable goods rose 3.7 percent in September, above the 0.2 percent gain in August. But a 57.5 percent jump in aircraft orders accounted for nearly all the gain. Durable goods are meant to last at least three years.
Before selecting a CRM system, you need to understand that automation in and of itself, will not fix an inefficient sales process that you want to improve. Therefore, have someone at your company look at your business operations as a whole.
Net sales were $1,931.3 million for the third quarter of 2013, compared to $1,656.2 million for the third quarter of 2012, an increase of 16.6%. Acquisitions positively impacted sales by 14.1%, organic sales increased 3.2%, and foreign exchange negatively impacted sales by 0.7%.
If there’s such obvious value in getting customers to interact with your business online, why are so many companies, B2B in particular, still operating in person and over the phone? Frankly, betting on past analog strategies to support a company in the current and future digital market virtually guarantees failure along the lines of Blockbuster, Borders, Circuit City, CompUSA, and others.
For many distributors and manufacturers, the expense of payment processing is an accepted cost of doing business. And when looking to reduce costs, most tend to overlook the biggest component of fees associated with processing payment transactions—card Interchange.
Mobile solutions have a huge potential to drastically increase the efficiency of field workers and save big money for companies in a range of industries. However, the implementation of mobile solutions is filled with pitfalls. Industry veteran Mikael Nilebacke, Managing Director of Erisma Technologies, gives his best advice on how to succeed.
While there may be some value in knowing where you’ve been, backward-looking analytics can’t provide value when it comes to making better pricing decisions in the future.
Abe WalkingBear Sanchez discusses how important it is for salespeople to not forget how to sell. He also offers tips for credit managers as they deal with new customers, accounts receivable, and all the data that comes with it.
DXP Enterprises, Inc. will aid Norgren in reaching industrial maintenance, repair, operation and production (MROP) customers.
If businesses exist, as the father of Business Management Peter Drucker proposed, “to create and keep a customer,” then success is defined by the relationships you establish with your customers. Giving them the best experience possible goes a long way toward securing future business.
Abe WalkingBear Sanchez discusses the "bad debt" that distributors sometimes face. In It may seem like a contradiction, but there are times when more bad debt can mean an improvement to the bottom line.
Value-Added Selling is a content-rich message of hope, one that distributors need to hear - and implement - in these tough economic times.
While sales managers continuously look for ways to cut costs of sales, there is a limit on how much control they have. For fixed compensation and benefits packages = not much, if any. For variable costs, expenses, and accommodations = some control, maybe.
CEO Keating: "Operating profit margin decreased due to lower organic sales and correspondingly lower rebates. This decrease was partially offset by the contribution of operating income from our 2012 acquisitions and cost savings from our first quarter restructuring."
This slump in sales is consistent with Lawson's earnings in the past year since they announced a restructuring initiative. The fourth quarter of 2012 saw a 4.7 million dollar decrease in sales, followed by an additional 4 million in the first quarter of 2013. The addition 1.5 million dollar decrease in the second quarter of the year, as highlighted by this release, is offset slightly by a 3.3% improvement in salesperson efficiency.
The Minnesota-based Fastenal recently released its results for the second quarter showing sales increased 5.3 percent, but as the company looked at its results, it realized that it needs to get back to getting its sales people on more calls to customers.
Grainger today reported record results for the 2013 second quarter ended June 30, 2013. Sales of $2.4 billion increased 6 percent versus $2.2 billion in the second quarter of 2012. There were 64 selling days in the quarter, the same as in 2012. Net earnings for the quarter increased 14 percent to $218 million versus $191 million in 2012. Earnings per share of $3.03 increased 15 percent versus $2.63 in 2012.
Survey after survey in our industry shows that one of the most vexing problems is selling more to existing customers. There are actually a number of ways to do just that. But today I want to focus on some basic (but very seldom implemented) online strategies.
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