DXP closed out 2022 with record quarterly sales | Wakefern welcomes Elena Kabasinskas, promotes Michael Day | 5 challenges wholesalers can tackle with digital tools
DXP Enterprises reported $406.3 million in sales for the fourth quarter of 2022, an increase of 38.6% year over year and a quarterly record for the wholesaler of pumping solutions and maintenance supplies. For the full year, DXP's sales totaled $1.5 billion, up 32.9% over 2021.
We surveyed global technology decision-makers who shared their ERP purchase journey. Their answers shed light on what business leaders need and want most in today's swiftly evolving business world. Download now to reveal these industry insights.
Adopting the right digital tools can help business-to-business wholesalers maximize profits and provide the best customer experience, according to Emporix Digital CEO Eberhardt Weber, who writes, "[d]igital transformation is the fuel needed to accelerate growth." Weber outlines five challenges that wholesalers can overcome using digital tools, including inventory issues and lack of product profitability transparency.
Six-month shipper air cargo contracts rose 36% year over-year for the first quarter and were up 24% over the fourth quarter of 2022, according to Xeneta's Clive Data Services. "Shippers have regained some ground because of the lower rate conditions, which have affected the airlines and forwarders, but it's not like the bloodbath we see in the ocean market," says Niall van de Wouw, Xeneta's chief airfreight officer.
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.
Organizations that merge need to combine their sales teams quickly, and five steps can make the transition smoother, starting with a five-step assessment of each team's current state, writes Travis Jones, chief growth officer at consultancy Logic20/20. Next, teams should start preparing for change management, ensuring data privacy and compliance, optimizing processes and developing master data management and governance.
Groups including the National Association of Wholesaler-Distributors are speaking out against the FTC's proposal to ban noncompete clauses. NAW joined other groups in co-signing a letter to the FTC saying a ban on noncompete clauses would make it harder for companies to protect their intellectual property.
Self-confidence in a leader doesn't mean throwing your weight around but is more about "humility, respect and honest self-evaluation," executive coach Joel Garfinkle writes. Five ways to practice the right kind of self-confidence include embracing personal development and motivating others.
Root out toxicity in your organization by pinpointing where misbehavior could be tied to corporate policies, whether teams foster a sense of belonging and what mixed signals you may be sending as a leader, writes Jennifer V. Miller. "Leaders who are aware of potential toxic behaviors in themselves as well as unhealthy systems and practices in their organizations can head off the damaging effects of employee stress, turnover and apathy," Miller notes.
