Trust is a key component of the relationship between suppliers, wholesalers and distributors, and a cooperative attitude goes hand in hand with the drive to get things done when it comes to gaining credibility, Kevin Short, president and CEO of ORS Nasco and Medco Tools, says in this episode of the "Wholesale Change" podcast. "[I]f you trust each other, you can pool resources and lean on one another to get better capacity utilization, for example, in a customer's warehouse ... [or] get better utilization of fleets and truck movement for greater efficiency and cost-effectiveness," Short says.
DXP Enterprises' first-quarter sales of $424.3 million were 32.8% higher than the same quarter in 2022, a record high for the Houston-based pumping equipment distributor. The results "reflect the growth we have been experiencing over the last ten quarters and reflect our financial goals to grow organically and through acquisitions," Chief Financial Officer Kent Yee said.
Amazon is working to enhance efficiencies following bloat created during the COVID-19 pandemic by focusing on regionalized hubs, same-day centers, artificial intelligence and collaborative robotics. Executives say efforts have yielded a 15% decrease in the distance items travel from fulfillment centers to purchasers, more than 12% reduction in frequency of handling of packages, a 50% increase in same-day deliveries during the first quarter compared to the same period last year and gains in areas such as route mapping and planning.
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(5/15)
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Connecting every process, contextualizing every decision and enabling collaboration are three primary digital strategies that should be used to mitigate potential supply chain risks and boost resiliency, writes Darcy MacClaren, head of Digital Supply Chain for SAP North America. "It's about turning agility, resiliency, and sustainability from pie-in-the-sky, C-suite dreams into grounded, operational realities," MacClaren writes.
Incorporating customer feedback on the digital buying experience can help distributors successfully develop an adaptable business-to-business digital transformation that helps them keep up with expectations for accessible and effective solutions, writes Joe Harouni of digital consultancy Avionos. Harouni offers solutions to three common hurdles companies need to overcome, including the need to provide more features with digital buying platforms.
Liz Murphy, founder of Buona Volpe, talks about how business-to-business marketers can be more human in their content and how that naturally happens when you decide to stand out and shine, instead of being happy in the background. Murphy advises writing while imagining the human being you are talking to and being more playful and open to new ideas and creativity.
Increase your team's motivation to be productive by giving them a chance to celebrate their wins -- along with a meaningful incentive such as a bonus or public or private praise -- and be sure to point out where team members are doing well, writes Roy Y. Gagaza, the founder and CEO of Journey Wealth Management, LLC. "This can also help employees feel more comfortable coming to you when they need help, or when they have an idea about how to streamline a process within their company," Gagaza writes.
Emotionally intelligent leaders must be willing to allow time for awkward silences rather than rushing to fill the void in a way that pushes the discussion in a certain direction, writes Justin Bariso, author of "EQ Applied." "Make sure that everyone knows extended periods of quiet are not only OK, they're valued -- because they will contribute to getting the best out of everyone," Bariso writes.
