For employees who are traditionally customer-service oriented, making cold calls requires a different skill set. Eric Chernik, CEO of Building Controls & Solutions, is providing training and tools for all employees, such as customer call lists with outbound call scripts, to grow business during the coronavirus slowdown.
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COVID-19 has sped up the digital evolution of the sales department. MDMs John Gunderson explains how to keep your sales people selling with the effective tactics they have picked up during coronavirus distancing, put an end to ineffective practices of the past, and use data to take share from competitors even in a down market.
Combined net sales for the fiscal months of March and April (the first two months of the Company's fiscal third quarter) were $565.4 million, a decrease of 7.8% compared to the same period in the prior fiscal year.
The increase was mostly due to the acquisition of Ingersoll-Rand plcs Industrial segment by Gardner Denver Holdings, Inc. in February of 2020.
Average daily net sales increased 0.2%.
There is an escalating response to the economic impact of the coronavirus among distributors, increasing furloughs and hiring freezes, management consulting firm Alexander Group finds. However, forward-looking distributors are also putting plans into place to convert competitors customers and grow digitally.
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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MDM’s top news briefs from News briefs from April 26 – May 10, 2020.
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The MDM Market Snapshot, based on data from MDM Analytics, includes market demand for Cutting Tools in the U.S., plus the top end users by 6-digit NAICS.
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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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This is the PDF of this issue of Modern Distribution Management.
The anecdote to uncertainty is information. In this issue of MDM Premium, our quarterly MDM-Baird data issue, you’ll find the latest information on how hundreds of distributors and manufacturers are responding to the coronavirus pandemic, as well as their projections for the second quarter and full year. We bring you analysis from Baird’s David Manthey, who breaks down market conditions and how the industry is planning to come out of the downturn. You’ll also find the first quarter pricing trends report as well as sales and inventory trends and distribution financial metrics and trading multiples from Houlihan Lokey.
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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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New orders for manufactured durable goods in March, down following three consecutive monthly increases, decreased $36.6 billion or 14.7% to $212.6 billion, down from the previously published 14.4% decrease.
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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.
Stoneburner was previously at Motion Industries, where he most recently served as the senior VP - Eastern US Branch Sales and Operations, Mergers and Acquisitions.
The unemployment rate rose to 14.7%, the highest rate and the largest over-the-month increase in the history of the series.
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.
Paul DeSantis will take over for Bonnie Lind as senior vice president, CFO and treasurer.
Supply Technologies net sales declined 15% year-over-year and totaled $141 million compared to $165 million last year.
The decline reflected lower sales to the Vehicle market, partially offset by growth in Industrial and Medical, which included contributions from Dynamic Controls.