MSC maintains sales momentum with Q2 growth of 11.5% | Customer service focus boosts Sonepar N. America sales | Amazon focuses on expanding e-procurement integration
MSC Industrial Supply's net sales rose 11.5% to $962 million in its fiscal second quarter compared to the same period a year ago, marking the company's fourth straight quarter of double-digit growth. The New York-based maintenance, repair and operations distributor, which has adjusted its category management strategy amid other changes, expects to see those efforts bear fruit later this year and into 2024, according to company executives.
Sonepar North America posted a 28% increase in sales last year compared to 2021, growth that President Rob Taylor attributes to the electrical products distributor's customer-centric approach, digital and supply chain transformation, and strategic acquisitions. "Our goal is to always make the workday easier for our customers, and our investments in digital tools coupled with automation throughout our supply chain network will provide our customers with the best omnichannel experience," Taylor says.
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Social Commerce: Back to basics US consumers have shifted their buying habits, making social media a key part of the sales process. Join experts from SmartBrief and Square as they discuss how to take advantage of consumers' new shopping habits and tap into social media. Watch now.
Nearly 30% of shippers now have a chief supply chain officer and 43% have added staffers to their supply chain teams during the past two years, according to Coyote. One-half have increased their spending on outsourced 3PL providers, primarily to improve efficiencies, followed by reducing costs, enhancing scaling flexibilities, freeing up time for other tasks and accessing valued experts, according to the data.
Amazon and Walmart are among the e-commerce leaders beginning to employ custom box machines to reduce cardboard and filler waste, overcome labor gaps and cut shipping costs through truck packing efficiencies. Crutchfield's Chief Fulfillment Officer Chris Groseclose says it saves "several million dollars" annually with smaller packaging and about $300,000 on box filler.
Vertical Leap's Chantelle Riley explains how business-to-business brands like Semrush, Adobe and Canva successfully use TikTok to engage audiences and build brand awareness. Semrush is adopting a humorous, playful approach, Canva humanizes its business with videos of employees working from home and Adobe showcases its software via the customers who use it.
Leaders are encouraged to be empathetic, collaborative and authentic but are rarely told how to use those tools, says real estate executive and author Scott Agnew, who counsels leaders to listen deeply and work with their team to achieve goals instead of being directive. "It's a lot more than just the words you speak. It's how you show up your facial expressions, your tone, yours, your cadence of speech, your body language. It's a whole demeanor," Agnew says.
Coaching is a valuable benefit to offer to high-performing employees, but the opportunity must be presented in the right way to get their full buy-in, writes Laura Weldy, a woman's leadership coach. Weldy advises emphasizing how coaching can unlock potential, accelerate career growth and show the employee that they are being viewed as leadership potential.
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