US LBM exec: Be "intentional" about your culture | Grainger posts Q4, full-year profit | Thermo Fisher reports $1B in Q4 earnings
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January 31, 2020
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A healthy corporate culture requires an "intentional" mindset and a focus on areas such as operational excellence, ongoing improvement and employee empowerment, says Jimmy Martin, an executive for US LBM Holdings' Southeast region. If hiring a full-time culture expert isn't feasible, distributors can establish culture committees with the help of employee volunteers, Martin says.
Full Story: TED Magazine (1/29) 
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Grainger earned $103 million on $2.85 billion in revenue during the fourth quarter. Grainger's full-year 2019 earnings were $849 million on revenue of $11.49 billion.
Full Story: The Associated Press (1/30) 
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2020 State of Wholesale Supply Chain Webinar
The 2020 State of Wholesale Distribution surveyed businesses to better understand their plans for managing uncertainty in 2020. Join us on Feb. 5 for a live-webinar peek at results. Blue Ridge CEO Jim Byrnes will share analysis and key takeaways for inventory optimization. Register here.
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Sales and Marketing
Effective prospecting begins with a clear plan and well-defined objectives, writes Anthony Iannarino. It's important for salespeople to block out time in their schedules specifically for prospecting activities and use multiple touchpoints, including phone calls and email, to reach out to potential customers.
Full Story: The Sales Blog (1/24) 
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The Business Leader
Communication breakdowns are at the heart of every problem in teams, writes Art Petty. Reduce the "signal-to-noise ratio" by listening more deeply, and create better message design and strategy by considering the concept of a four-step "message mapping" process, he writes.
Full Story: SmartBrief/Leadership (1/29) 
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Leaders can get stuck in an "identity mindtrap" when they stop seeking new ways to grow personally or to think about situations, write Cultivating Leadership CEO Jennifer Garvey Berger and Zafer Gedeon Achi. They offer three questions for growth, including asking about areas where you may be making false assumptions.
Full Story: McKinsey (1/2020) 
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NAW Insider
Are these business books on your 2020 reading list?
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Are you well-informed about the latest knowledge in our industry? If not, NAW's Top 10 Best Sellers list provides the best wholesale distribution knowledge all in one place. These top 10 are what distributors across the industry are reading right now. Which of these top picks should be on your 2020 reading list? Quantity discounts start with two copies ordered.
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Back by popular demand: "Digitizing the Sales Process" Consortium
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To assist leading-edge distributors in transforming their social selling practices, the NAW Institute for Distribution Excellence and Texas A&M University are holding a "Digitizing the Sales Process" consortium to begin with a kickoff meeting on Oct. 1. If your company wants to be on the cutting-edge of creating and implementing a digital selling strategy that guides your organization and ensures that technologies are aligned with your other business processes, please consider participating in this consortium. Learn more.
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Your how-to for inventory-management analytics in today's digital age
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"Unlock the Power of Inventory Analytics: Aligning Working Capital to Customer Experience to Maximize Your Bottom Line" is based on 15 years of distribution research. It reveals the fundamentals and contemporary practices for designing the role of inventory in this era of ever-evolving new business models. You'll receive an inventory management framework, customer service metrics, a step-by-step implementation approach, real-world distributor case studies and a plan-of-action road map. Take a look by reading the introduction.
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