Strong demand for specialty medicines led Cardinal Health to post a 13% year-over-year increase in fiscal third-quarter revenue to $50.5 billion and increase its full-year revenue forecast. The company's medical segment profit, however, declined 66% amid decreased product and distribution sales of personal protective equipment.
Imperial Dade is embarking on a digital transformation journey, including a new website and mobile app, as part of a customer-centric growth strategy, says Devashish Saxena, who recently stepped into the distributor's newly created chief digital officer role. "Our customers have reasonable expectations -- give them digital options for engaging and doing business with Imperial Dade -- that are easy, intuitive and fast. Speed is critical for our customers," Saxena says.
Manufacturing sales in April powered Fastenal's 2.7% year-over-year increase in sales to $586 million, even as the nonresidential construction market continued to falter. Daily sales in the US increased 7.8%, while sales of safety and other products posted double-digit gains.
Distributors wanting to use technology to improve performance and efficiency should first consider how to make the technology accessible and easy to use to help employees do their jobs, experts said during a recent panel discussion. Distributors should find "innovative ways to partner and build an ecosystem and a collaborative hub of knowledge," said Steve Levy, vice president of Infor. "That's what is going to make distribution stand out and excel ... [and] keep our customers happy as their expectations continue to grow."
Supply chain disruptions were felt by 87% of executives surveyed by Blue Yonder, but 62% believe their systems can withstand the pressure. To help offset rising costs, executives are seeking supply chain efficiencies through investments primarily in warehouse and order management systems and supply chain visibility tools that are paying off for 54% of respondents.
Office mates who constantly complain, talk loudly, gossip or make stops at your desk for small talk can affect not just your productivity, but your own mental health, but there is a way to deal effectively with each of them, writes Lochlan Cheuk. Keep conversations short with each type of colleague to maintain a positive working relationship and "learn to be forgiving and patient with your coworkers," Cheuk recommends.
Problem solving can be done by bringing other voices to the table, whether through research or networking with other professionals and even competitors -- but be willing to share your challenges with the group, says Marting Zwilling, founder and CEO of Startup Professionals. "That may be a new mindset for you, but in my experience, the payback is well worth the time and effort," Zwilling writes.
Join NAW and McKinsey leaders on May 10 as they share their latest thinking on how to preserve margins through pricing and category management and lead a panel discussion with executives who have successfully navigated similar challenges. Register now.
