In a recent MDM webcast, Navigating the New Now as a Distributor, Epicors Emma Vas and Mark Jensen discussed key trends that are emerging to help distribution companies thrive. Distributors are finding ways to boost revenue, negotiate supplier relationships, optimize inventory and streamline social distancing.
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If you're a distributor in America today, youve got to get digital quick, says John Caplan, president, North America and Europe, Alibaba.com, who spoke on last weeks MDM Live about why digital has become imperative for distributors to compete.
More than 13,000 health care and 7,000 government organizations have purchased PPE and other supplies through COVID-19 Supplies site on Amazon Business.
Barry Litwin, CEO of Global Industrial parent company Systemax Inc., says the right digital capabilities can practically eliminate the need for customer service because everything gets done online. He shared the companys digital journey on the most recent episode of MDM Live.
Take note of new business practices youd like to preserve as the country opens back up.
Recent economic reports show upward momentum for the overall U.S. economy and the wholesale distribution industry in particular, but not all data points paint a rosy picture, indicating recovery will be a slog.
The safety category again stole the show for Fastenal Co. during its May sales report with a 136.3% increase, while the companys fastener business has likely hit the bottom during the COVID-19 disruption and could be on the upswing.
Some distributors are updating their price segmentation schemes to ensure they reflect these evolving conditions by overlaying a COVID-19 demand category attribute to complement traditional segmentation schemes.
Optimize search results, facilitate up-sells and cross-sells, promote items that need to turn quickly and elevate private-label products all ways distributors can use AI to transform websites from order-taking to order-making assets.
While the COVID-19 pandemic has slowed M&A to a crawl in distribution and most sectors, companies that chose to hunker down rather than innovate during the pandemic could be targeted by savvy strategic and financial buyers once activity resumes.
Distribution leaders that emphasize innovation during this time of uncertainty will be at an advantage when the so-called new normal whatever that looks like has settled in. One area where companies can innovate is by transforming their sales models. The latest MDM Live explains why.
International coronavirus stay-at-home orders have accelerated the imperative for distributors to improve virtual sales tactics. MDMs most-read blogs of May continued to focus on COVID-19 and its long-term effects for the distribution industry, particularly the sales process.
Over the last two years, Milwaukee-based HVACR distributor Gustave A. Larson Co. has transitioned from outside to inside sales, a move that became reality at the start of 2020. That sales model transformation has paid dividends during the coronavirus crisis, and now the company enters the post-pandemic well-positioned for the summer surge.
MDM strengthens research and industry analysis capability with seasoned business writers return. Smith returns to MDM after a two-year stint in the outdoor equipment business media, where he reported on industry M&A, trend analysis, competitive landscape and corporate profiles. He previously was part of MDMs research and content team for nearly four years.
When volume compresses, your contract pricing will be under pressure from your end customers. At the same time, you will have to react to many price changes from your manufacturer partners. MDMs John Gunderson says, if you dont have a tracking system built for your CSP/contract prices, it is time to get one in place.
Today’s environment may be full of factors outside of our control, but distributors also have an opportunity to re-examine long entrenched practices and explore new, more efficient ways of doing business.
Blindly following a competitors lead or treating every customer the same are two common mistakes that distributors cant afford to make in todays environment. Consultant Robert Sabath explains how these and other common actions can hold you back.
Tracking industry and customer data can provide distributors with a window into future planning as the market continues to shift during the coronavirus crisis. Channel Marketing Groups David Gordon suggests elements to consider, ranging from pricing pressures to the availability of talent.
Products, features and benefits. How are we doing (or not doing) on monthly goals set up with Supplier A or Supplier B? These are the day-to-day conversations that, while particularly urgent in the current uncharted pandemic-infested waters, can get in the way of deeper strategic conversations about how to create more value for customers. In this third podcast of our three-part series on innovation, Dorn Groups J Schneider maps how to rethink your business model to build a more customer-centric and innovative organization.
In a recent virtual conversation with a few hundred Texas A&M Industrial Distribution students, the next generation had a lot to say about what changes they see in B2B distribution after the full impact of COVID-19 becomes clear. The future of distribution is moving faster than any of us thought possible, and its looking brighter with the talent coming online.
