In the past, distributors would often sacrifice margins to gain market share and drive the topline. However, such tactics negate a strategic pricing process, rendering it nearly nonexistent. Without process, your people must make pricing decisions in a vacuum. As hard as they might try to compensate for and cope with inefficiencies, and as effective as their efforts might be in the short-term, you can’t expect them to sustain healthy margins in the long run.
The coronavirus accelerated a number of changes in distribution talent management that were already underway, including new evaluation criteria for job candidates and an expanded view of work-from-home productivity.
North American buying group AD, Wayne, Pennsylvania, this week announced the group will be going to a virtual format for its slate of 2020 North American and other fall meetings in response to the COVID-19 pandemic. The buying group said it worked collaboratively with impacted divisional boards, committees and its associates to ensure a meaningful […]
Take note of new business practices youd like to preserve as the country opens back up.
Take note of new business practices youd like to preserve as the country opens back up.
Beginning in late April, Global Industrial started to pack an R3 Program Guide in with all shipped orders.
This is the third article in a three-part series for distributors to improve long-term financial performance. Part one addressed steps to create an appraisal of your firms current financial position. Part two tackled profit improvement variables and key mistakes distributors make.
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