MRC Global reported that first-quarter sales increased 19%
from the same period in 2022 to $885 million, while net income rose more than 100% to $34 million. President and CEO Rob Saltiel said revenue growth is expected to reach double digits for the full year, "bolstered by the strong start to the year and our growing backlog."
Core growth and price increases helped Jeld-Wen's first-quarter revenue grow 4.4% year over year to $1.22 billion. "We made progress in the first quarter to simplify and strengthen Jeld-Wen which, combined with more favorable-than-expected market conditions, resulted in improved financial performance," said CEO William Christensen. "During this time of weaker demand, our associates carefully controlled costs while continuing to deliver on our customers' expectations."
Wholesale inventories in the US remained unchanged in March for the second consecutive month, but were 9.1% higher than a year ago, according to the Commerce Department. Wholesaler sales fell 2.1% in March, compared with a gain of 0.4% in February.
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Optimizing ecom and B2B distribution
When Southwire, a major supplier of electrical products, was looking to optimize ecom and B2B distribution, Lucas Systems helped them do it to the tune of a 30-50% increase in ecommerce productivity and a doubling in lines per hour. Read about it now.
Distributors that only make reactionary changes can look to more forward-thinking companies for examples of how a digital-first approach can drive growth, Mike Marks of Indian River Consulting Group says in this episode of Modern Distribution Management's QuickTake podcast. Marks cites the examples of Grainger, an early adopter of e-commerce and web store capabilities, and Amazon Business, which quickly dominated the market for commodity and long-tail maintenance, repair and operations products.
Companies are no longer getting as much mileage from conventional planning models and enterprise resource planning software, as they need an increasing amount of outside data far more quickly for demand planning, experts say. Shifting to outside-in thinking and increasing the smart use of technology require forethought, and Alex Pradhan of John Galt Solutions, along with other supply chain experts, explain the considerations.
ChatGPT and Generative AI: A Guide to 2023's Most Talked-About Technology ChatGPT brought generative AI into the limelight when it hit 1 million users in five days. But how valid is the buzz around ChatGPT? We unpack what you need to know: How does generative AI work? Who are the key players? Is ChatGPT ready for prime time? And most importantly: How will the technology change the way we do business? Purchase the report here and use ChatGPT100 for $100 off.
Generative artificial intelligence tools are being used by 73% of companies for marketing tasks, primarily for website copy followed by email drafts, social media content, social images, customer chatbots, website images, SEO content, blog posts and sales and marketing collateral, per Botco.ai. One-half of respondents face challenges related to team training, while others cite issues such as privacy and security concerns, a lack of data, content quality issues and unethical biases.
When you assume you're aware of your blind spots, or that you're already a good communicator, or that you know what's best for those around you, your growth as a leader could be stunted, writes Lolly Daskal. Leadership development is never a "one and done" prospect, and "requires a commitment to continuous learning, self-reflection, and the willingness to try new things," Daskal writes.
