US LBM cuts ribbon on truss manufacturing facility in Fla. | Feb. wholesale figures show slight improvement from Jan. | How to get a derailed project back on track
US LBM's Raymond Building Supply division opened a 100,600-square-foot floor and roof truss manufacturing facility and building materials yard in Auburndale, Fla., the division's third truss facility in the state. "Florida continues to be a strong market for construction and prefabricated structural components, and this new plant allows us to support builders in both the Tampa and Orlando markets," President and CEO L.T. Gibson, said in a news release, adding that LBM created the facilities to "help builders reduce construction time and more effectively manage their costs."
Wholesale sales in February rose 0.4%, following similar growth the month before, while inventories increased 0.1%, compared with a 0.6% drop in January, according to the Commerce Department. Durable goods sales grew 1.2% while non-durable goods dropped 0.3%.
When distributors find that despite all their careful planning, some things did not go according to plan, having a strong communication and feedback system in place as well as an early warning system can help project leaders identify, correct and learn from any mistake. "Nobody likes uncertainty," Mike Marks of Indian River Consulting Group says in this podcast episode. "What you do is you make sure that people know what you're doing, but more importantly ... why are we doing this? And you're actually asking for input and letting people do it."
Successful distributors like you make revenue management part of your culture, automating your entire process to leverage efficiencies, workflow collaboration, and 360-degree visibility. Learn the many benefits you'll gain from an analytics-driven approach in this webinar.
An optimally configured warehouse requires careful planning and understanding of inventory flow, choosing the right technologies and proper product placement, writes Mark Stevens, a principal at consulting firm Wipfli. "As you look to optimize your warehouse configuration, take a city planning approach. The spaces in your warehouse have different values as real estate. How you use that floor space to house inventories can ultimately affect your productivity and inventory levels," Stevens writes.
The reduction of 11,800 US warehouse and storage jobs between February and March brought the total for the sector to 1.91 million in March and marks the lowest number since January 2022, according to Labor Department figures. Conversely, trucking companies boosted jobs by 5,700 in March and courier and messenger businesses added another 6,700 to their payrolls.
Susan Quinn, founder and CEO of Circle S Studios, discusses the importance of excelling at experiences for business-to-business companies and explains nine traits that can be tracked to improve both customer and employee experience. "Those that are delivering the best experiences are standing out,' Quinn explains, adding, "They are winning the talent war and building loyal customer relationships for the short and long-term."
When leaders are vulnerable enough to share stories about their own doubts and fears and how they've learned from their mistakes, they help those around them experience a sense of hope for themselves, writes Kristin Hendrix. "When we share our stories, we give someone else the ability to see how they may rewrite their ending or start a new chapter," Hendrix writes.
A lack of effective employee benefit communications can result in misconceptions, misinformation, frustration and well-intentioned offerings going unused. Nielsen Benefits executive Brian Lacher says leaders can prevent these problems by adding digital tools to help people understand health plans and use tax-advantaged savings vehicles, providing sustained access to resources after enrollment and setting up an email address dedicated to employees' benefit questions.
Join the best and brightest emerging leaders from across the wholesale distribution industry for a unique course at The Ohio State University! The course will take place from May 22-26, 2023. View the agenda and register.