Fastenal's digital sales are growing in line with plans | Sonepar to invest $1B for digital innovations | Construction veteran named president of Winsupply unit
Digital sales remain a priority for Fastenal, and e-commerce sales represented nearly 22% of total sales in the first quarter of the year. The construction and industrial supplies distributor reported total sales of $1.86 billion for the quarter, up 9% compared to the same period last year.
Sonepar, a distributor of electrical products, plans to spend $1 billion on digital innovation over the next five years, with Microsoft, Hitachi Solutions and Publicis Sapient as the primary vendors. All touch points involving employees and customers will be affected, creating "a constant dialog to deliver the perfect order," Chief Transformation Officer Jeremie Profeta said.
Construction industry veteran Andrew Goetz has been appointed president of Wilcon, part of the Winsupply group of companies. "Andy is an experienced construction professional who brings a proven track record of completing quality projects and building lasting relationships," said Bill Tolliver, in-house counsel for Winsupply Real Estate Services.
The GEP's Global Supply Chain Volatility Index determined with S&P Global has dropped for three consecutive months and reached .32 in March, which marks "the lowest level of stress" and volatility since July 2020. The report notes that supply chains in North America and the UK have been operating efficiently, while conditions in Asia and Europe are "almost completely normalized."
The cost of shipping an item from beginning to end, called landed cost, can vary greatly and Microsoft calculates that these costs can account for as much as 40% of the total cost of an imported item. Such costs can be difficult to pin down to the item level, but doing so is necessary to increase profitability, enhance procurement processes and determine which carriers to use, writes James Miller, a senior supply chain consultant at supply chain technology company Sikich.
Business-to-business companies such as Jones Lang LaSalle are investing in brand marketing, but the balance from performance to brand spending is not "swinging far enough or fast enough," argues BCG's Peter Dewey. B2B experts discuss why brand marketing is essential to engage digital consumers, build a brand reputation around sustainability issues and attract the best talent.
Leaders who build trust and continued engagement generally have colleagues who are enthusiastic team players, but 18% of people in a Gallup survey admit to being "actively disengaged" at work and therefore not helpful to the company, writes business and communication coach John Millen. "Maintaining trust in relationships -- in work and in life -- is our most important and valuable activity," Millen says.
Leaders should communicate directly with employees to understand what's on their mind and have the courage to admit they don't have all the answers, says Ian Wilson, vice president of HR at Amazon Web Services. "Some have tried to fake it but, especially in times of uncertainty, it's important for leaders to acknowledge that they don't know the answer but they're committed to figuring it out and learning together over time," Wilson says.
