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.
With energy efficiency becoming the buzzword in every sector, government bodies, especially in...
There are three areas that distributors need to consider when hiring and training their...
The world has established that industrial distributors need an online ecommerce presence. So...
The role of the sales rep has changed. Industrial Distribution's associate editor, Abbigail Kriebs, chatted with three sales experts on the topic, and here is what they had to say.
From which direction does your definition of value flow — from you to the customer, or from the customer to you? This is another way of saying: Through which lens do you view what you sell — your lens, or the customer’s lens? Do you see your product or services as value-added or value-received?
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.
After growing in 2010 and 2011, world machine tool consumption has contracted for two consecutive years. However, based on several leading indicators, world consumption in 2014 should reach approximately $58,300 million, an increase of 6.2%.
When I walk into the restaurant, I’m always greeted with a warm good morning, my coffee is poured, and my order quickly entered. The food is good, the service is excellent, but its price is higher than the “new” diner located only a few streets away. Yet I choose to go to “my” restaurant, primarily because of the relationships I have developed.
Industrial Distribution's March/April Issue 2014 goes behind the scenes with Turtle & Hughes, a company who has been in distribution for 90 years and shows no signs of slowing down. The special feature, "A Guide to the Modern Sales Organization" takes a look at how the role of sales has changed in recent years. And as always, columns by Jack Keough, Tom Reilly, and Anna Wells feature the latest in distribution news.
“For years we’ve been using mailing machines to invoice our accounts,” noted Mike Anderson, President of S.W. Anderson. “Every time our equipment broke down, the problems just got bigger."
As quarterly earnings reports roll in for publicly-traded companies, it is apparent that the last quarter was not a great one for many industrial distributors despite the rise in sales. Yet many distributors say they’re optimistic about 2014 and expect a number of sectors to rebound, including non-residential construction, petrochemical, and oil and gas.
New in 2014, the welding consumable section, previously shown to provide a summary view of the company’s wire and electrode offering, now includes product numbers to enable quick cross-referencing or order placement.
Brady Client Services’ full suite of lockout/tagout services and software offerings includes procedure writing services, cloud-based procedure creation and maintenance software, lockout/tagout training and more.
Ecommerce solutions have to provide bottom-line results that coincide with the company’s business strategy. Customers have made it clear that they need savings and solutions provided from their suppliers to make their business processes efficient.
During the last decade, the amount of information available to help guide B2B marketing decisions has exploded. It is estimated that B2B marketers in the United States spend about $85 billion a year to promote their goods and services; however, little research has existed until recently in understanding what the B2B buyer seeks in their considered purchase decision process, and how they want to receive and consume marketing efforts.
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 the same month of 2012. The daily sales were $13,063, up 8.2% from $12,071 in 2012.
In today's customer service world, the first age where phone support is preferred over web support occurs at age 51. We point to the millennials a lot, but everyone is moving to a more tech based system all the time. Companies are falling behind if they are not offering that as an option.
Sears has become known as a go-to gear destination for DIY'ers to professional craftspeople and everyone in between. New to the safety footwear field, KEEN Utility has quickly carved a place for its work footwear in the market, proving that work boots are just as important as any other tool — in this case, tools for your feet.
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.
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