Many small businesses have not found social media to be useful – yet.
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Posts By Jenel Stelton-Holtmeier
Companies starting to understand the real value of grid modernization.
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After extensive streamlining across its global network in fiscal year 2009, UK-based Wolseley plc is shifting its focus towards improving operational performance in the remaining branches and business units. During the past year, Wolseley has eliminated nearly 10,000 positions were eliminated and closed 631 branches.
“There is little we can do to impact the market trajectory, but there is a lot we can do to improve our own performance, and that is absolutely what we’ve got the teams focused on right now,” CEO Ian Meakins said, speaking to investors about the company’s financial results for fiscal year 2009.
The international distributor of building materials and plumbing supplies posted a loss of £1.17 billion (US$1.86 billion) for fiscal year 2009. Losses from discontinued operations – including contributions from Stock Building Supply prior to its disposal in June – were £441 million (US$700.1 million).
“Our final results reflect the harsh impact …
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According to a recent study, better talent management can offset the impact of a shortage of highly skilled workers in manufacturing.
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Eaton CEO discusses economy at J.P. Morgan Diversified Industries Conference
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Electrical and communications product distributor to open new distribution center, administrative offices.
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Industry execs discuss the outlook for M&A.
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Businesses have recently used the medium for communicating about Web site crashes or delivery delays.
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Distributors can find opportunity in where the Smart Grid is right now.
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New demands on the power grid have led to new ideas on how to meet those demands. One way: the Smart Grid.
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Companies are shifting the way they do business, but ‘cautious optimism’ rules the day.
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While most people say that initial rounds of inventory reduction were probably a good thing, bringing on-hand inventories more inline with demand, the question always was how far will it go and for how long.
Recent reports – including the results of the Baird Industrial Distribution Survey – say destocking may be coming to an end in the last half of this year. While that may have some positive implications for sales, the end of destocking likely will not be the magic bullet to ramping up stalled factories soon.
Why? According to the Baird Survey, in the second quarter: "Inventory levels continue to decline with no restock expected in the near-term. Nearly 7 out of 10 …
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With the latest round of earnings reports, I’ve been noticing a few terms being used repeatedly in each company’s outlook: uncertain, unclear, unknown. That uncertainty can make it difficult to choose the best way to respond to current economic conditions. You can always cut costs and improve efficiencies, but how can you tell if the choices you make now will be the best for the future when you can’t even glimpse the future?
In the latest issue of the Deloitte Review, authors Dwight Allen, Mark Klein and Craig Muraskin take on this question in their article What Next? Business in 2010 and Beyond." They write:
"The wrong answer is to adopt nebulous strategies in the hope of succeeding regardless of what happens."
While broad, generic responses can improve your chances of …
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In today’s economy, workers are often being asked to do more, whether it is helping with standard maintenance around the building or even reviewing processes to improve productivity (Read some distributors’ approach to this in Keeping Layoffs to a Minimum.). But, how much is too much?
Jon Gordon, author of the new book Training Camp: What the Best Do Better Than Everyone Else, says it’s hard to do too much. While acknowledging that everyone needs the "occasional break," he advises employees, "Make sure that when others are sleeping, you are working."
Not everyone shares his level of enthusiasm for taking on ever growing workloads. Anna Wells, editor of IMPOMag, addressed this issue in a …
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Cautious optimism is how most manufacturing executives are approaching the economy over the next six months, according to the results of a recent survey by accounting and consulting firm Baker Tilly. While 57% of respondents said they had a somewhat optimistic" or "very optimistic" outlook for the U.S. economy in the next six months, 47% said the same about the manufacturing sector.
In addition, executives indicated that the massive layoffs that have been occurring at manufacturers of all sizes may be reaching an end. While 20% of respondents indicated they intend to reduce staffing levels over the next six months, 70% said they were planning to keep their staffing levels where they are. On top of that, 9% said they were planning to increase staff.
And while several companies said …
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For Safety Products Inc. (SPI), Lakeland, FL, the key to success is evolving with your customers’ needs while focusing on your specialty. The safety products distributor was recently featured at TheLedger.com.
As detailed in the article, CEO and founder Ed Williams has managed to expand the company’s offerings without straying from its central specialty – no small feat when you look at how the safety products marketplace has changed over the last two decades. More broadline distributorsand distributors specialized in other product areas have added safety products to their offerings, bringing new competitors into the space. According to the article, "At one time SPI competed against a number of …
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More signs are appearing that an end to the recession is on its way. Several indicators are inching their way upward, according to the latest Small Business Economic Trends report, released by the National Federation of Independent Business. However, the report also warns that there are bound to be bumps along the road to recovery as the economy reorganizes itself.
The report indicates the labor market is finding a foothold, even if a bit slippery," with forecasts pointing to unemployment declining to 8.8% in the next three months.
Additionally, the credit freeze predicted earlier this year never materialized, and June data indicate the credit market actually may be easing. Obtaining credit is more difficult for small businesses than it was in 2003, but credit patterns are no …
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Salary and benefits are often the first things that come to mind when someone is asked what they look for in a job. But other factors often play as big, if not a bigger, role for some of the younger workers entering the work force. Work environment is one of them.
In a (non-scientific) survey conducted by Modern Distribution Management for a recent article on demographic shifts in distribution, students in industrial distribution programs at two universities were asked: In looking at potential employers, which attributes are most important to you?
Work environment was not one of the top answers – likely because it wasn’t one of the prefilled choices. However, more than half of the people who selected "Other" filled it …
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As baby boomers speed toward retirement, managers are preparing for the next generation of workers eager to move up the ladder. They follow in the footsteps of retirees who have worked in distribution for decades – if not their whole careers. MDM spoke with and surveyed juniors and seniors at three universities about what they are looking for as they start their careers in distribution.
Times have certainly changed, and much has been made of the differences between the baby boomers and generations X and Y. While it is true that younger generations may value different attributes and incentives in the workplace, many younger workers also recognize they have a lot to learn from long-time distribution veterans …
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Even as some companies are pulling back in response to current economic conditions, Grainger has taken a different tack: aggressively pursue market share. At the William Blair & Company Growth Stock Conferencein June, Grainger CEO Jim Ryan laid out Grainger’s plan to gain market share in the highly fragmented MRO market.
Focus on service is essential to gaining and keeping market share, Ryan says. For Grainger, this includes expanding its network of distribution centers in North America, adding square feet in existing and new branches, and investing in its IT network.
"Our IT network and phone systems are integrated across the network, meaning we can respond more efficiently to customer needs," Ryan says. For example, during the H1N1 flu outbreak in Mexico, Grainger was able to …
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