News Digest 5009
MDM’s top news briefs from News briefs from April 26 – May 10, 2020.
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May 2020
A 3-Step Process to Mitigate Coronavirus Supply Chain Shock Waves
Failure to monitor automated supply chain replenishment could result in a vicious cycle with companies throughout the supply chain experiencing warehouses full of the wrong products and little cash to rectify their situations.
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A 3-Step Process to Mitigate Coronavirus Supply Chain Shock Waves Read More »
Distribution’s Value: Rebuilding for the Next Normal
MDM’s Tom Gale is optimistic that over the next several months distribution will play such a critical role in getting our economy off its back and to fully functioning capacity as quickly as possible.
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Distribution’s Value: Rebuilding for the Next Normal Read More »
Manufacturing Employment Fell by 1.3 Million in April
The unemployment rate rose to 14.7%, the highest rate and the largest over-the-month increase in the history of the series.
Manufacturing Employment Fell by 1.3 Million in April Read More »
Kaman Distribution Group names Mark Stoneburner EVP and GM of Kaman Industrial Technologies unit
Stoneburner was previously at Motion Industries, where he most recently served as the senior VP – Eastern US Branch Sales and Operations, Mergers and Acquisitions.
NN Sales Down 6.3% in 1Q
The company reported a loss for the quarter of $248.2 million, compared to a loss of $19.5 million during the first quarter of 2019.
NN Sales Down 6.3% in 1Q Read More »
AmericsourceBergen Sales Up 9.5% in 2Q
Pharmaceutical Distribution Services revenue was $45.6 billion, an increase of 9.3% compared to the same quarter in the prior fiscal year.
AmericsourceBergen Sales Up 9.5% in 2Q Read More »
Fastenal Posts 7% April Daily Sales Growth on Safety Surge Buys
A follow-up phone call to the industrial distributors mid-April 1Q report provides detail behind dramatic shifts in growth rate, with EVP and CFO Holden Lewis highlighting how the company is pivoting to meet changing customer demands.
Fastenal Posts 7% April Daily Sales Growth on Safety Surge Buys Read More »
IRCG Weekly Pandemic Revenue Index Shows 18.9% Decline
All but one participant in the Pandemic Revenue Index realized a sales decline year over year, with a maximum decline of 43%. We now have six weeks of double-digit average declines.
IRCG Weekly Pandemic Revenue Index Shows 18.9% Decline Read More »
ParkOhio Sales Down 12.8% in 1Q
Supply Technologies net sales declined 15% year-over-year and totaled $141 million compared to $165 million last year.
ParkOhio Sales Down 12.8% in 1Q Read More »
Neenah Announces Retirement CFO
Paul DeSantis will take over for Bonnie Lind as senior vice president, CFO and treasurer.
Neenah Announces Retirement CFO Read More »
Allied Motion Sales Down 1.6% in 1Q
The decline reflected lower sales to the Vehicle market, partially offset by growth in Industrial and Medical, which included contributions from Dynamic Controls.
Allied Motion Sales Down 1.6% in 1Q Read More »
Fastenal’s April Sales Up 6.7%
By region, U.S. sales grew 10% in April.
Fastenal’s April Sales Up 6.7% Read More »
5 Rules for Growing Customer Loyalty During Coronavirus
Customers are more open to change in the wake of COVID-19 disruption. Distributors can take advantage of this opportunity by using profit segmentation to drive strategic decision making and rework customer contracts in favor of increased profitability, Profit Isles Jonathan Byrnes explains in an MDM webcast.
5 Rules for Growing Customer Loyalty During Coronavirus Read More »
Meyers Industries Sales Down 12.1% in 1Q
Profit was $16.7 million, compared to $6.7 million in the first quarter of 2019.
Meyers Industries Sales Down 12.1% in 1Q Read More »
Now Inc.’s First Quarter Sales Down 23.1%
The company reported a loss of $331 million for the quarter, compared with a profit of $18 million a year ago.
Now Inc.’s First Quarter Sales Down 23.1% Read More »
The Goods and Services Deficit Increased in March
Year-to-date, the goods and services deficit decreased $28.1 billion, or 17.8%, from the same period in 2019.
The Goods and Services Deficit Increased in March Read More »
Amazon Business Tops Coronavirus in Most-Read MDM Blogs of April
Though the fallout for distributors from COVID-19 continued to be a hot topic in April, news on Amazon Business garnered the most attention from MDM readers during the month. New data show the enormous number of SKUs available on the platform and that it may be poised to become the top industrial distributor in the U.S.
Amazon Business Tops Coronavirus in Most-Read MDM Blogs of April Read More »
AMETEK Sales Down 6.6% in Q1
First quarter Electronic Instruments Group sales were $774.2 million, down 4% compared to the same period in 2019.
AMETEK Sales Down 6.6% in Q1 Read More »
4 Lessons on Inventory Management During the COVID-19 Pandemic
Four procedures distributors can implement now to adjust your forecast of future demand of items and address the effects of COVID-19, from inventory management expert Jon Schreibfeder.
4 Lessons on Inventory Management During the COVID-19 Pandemic Read More »
