WESCO International has announced it will take on additional debt to raise money for an acquisition rather than sell equity. The company plans to buy Anixter International in a deal valued at $4.5 billion.
State of the Wholesale Supply Chain Industry in 2020 The wholesale supply chain industry continues to look for ways to solve challenges around predicting shifting consumer preferences, volatility with suppliers and long lead times, and e-commerce growth that's increasing price transparency. Despite these obstacles, the industry collectively posted year-over-year sales growth of 8% in 2019, similar to the prior year. Get the key findings for Blue Ridge's wholesale supply chain industry 2020 survey.
Major shipping companies, retailers and other businesses that need to move goods efficiently and cost-effectively are turning to Middle America communities for international freight connectivity. Amazon, UPS and FedEx have plans for multibillion-dollar inland expansions, while Nike maintains its largest worldwide distribution facility in Memphis, Tenn., and Williams-Sonoma and Amazon also have distribution centers there.
Virtual reality is improving training for lift truck operators while cutting down on training time. The technology delivers content that usually takes 10 hours in less than four, according to Hyster's Gijo George.
Interactive content can help marketers engage their audience, writes columnist Thomas Griffin. Examples include gamifying homepages, using quizzes on social media and sending interactive emails.
Salespeople should stop focusing on ideal buyers and instead think about buying communities comprised of multiple stakeholders that often must be addressed separately in order to advance opportunities. "Not only does focusing on the buyer community open up the size of the opportunity, it also dramatically increases your chances of winning because you haven't left any stones unturned," writes Colleen Francis.
Jomer Gregorio outlines 2020's major business-to-business digital marketing trends, such as buyers seeking personalized, streamlined digital experiences comparable to those they receive as consumers. He recommends B2B marketers resist adopting too many new tools or technologies, prioritize customer experience and tap employee advocates for content.
Leaders who do what they love and express that to employees and customers will have a competitive advantage, writes Steve Farber. That doesn't mean competition and accountability go out the window, he writes, because "love compels you to hold people accountable and to set even higher expectations for excellence."
Old school distribution is about stocking inventory, taking orders and serving demand. New school distribution is about innovating through customer services and working side-by-side with customers in the real world. The future of distribution is about solving problems in your customer's business -- often before your customer even knows a problem exists. Innovate to Dominate provides breakthrough ideas, lessons from leading distributors who are innovating and inspiration to help you lead your customers into the future and sustain your competitive advantage.
Cloud-based technology that eliminates paper check processing in your AR department also simplifies AP for your customers. Wholesaler-distributors can reduce AR costs and DSO while increasing customer satisfaction by making it easier for customers to pay. Stream the podcast from Trusted NAW Partner Unified Payments Group or call 888-834-1850.
Designed for C-suite executives, these roundtables provide actionable strategies and best practices that will increase your company's competitive advantage. Member companies belonging to this community are from distribution firms between $100 million up to a billion in annual sales. You'll experience the best networking in the industry, share ideas and benchmark with your C-suite peers in distribution -- who aren't competitors. Register today.
