Distributors have had to change plans on the fly to accommodate shifts to remote work and ensure safety, hygiene and other best practices in their facilities. "We have limited our in-person interactions with customers, vendors and each other by implementing travel restrictions and providing the resources necessary to conduct meetings virtually," says Marie Young of Crescent Electric Supply.
Bossard's first-quarter sales declined by 5.7%, with US sales down 7.1% compared with the year-ago period. The company warned about ongoing repercussions from the coronavirus.
Meeting customer needs and expectations A focus on customer service should be a priority for wholesalers, both in the current climate and moving into the future. How can businesses deliver on that? Hear from experts at NetSuite, Logistics Bureau and SmartBrief in this on-demand webinar.
Manufacturers and distributors have been using artificial intelligence to monitor supply chains during the coronavirus pandemic and respond quickly to disruptions. Food company Danone brought supplies closer to production facilities based on insights from AI and machine learning.
Distributors need to ensure their IT systems can handle increased work-from-home activity and that security measures are up to date and effective. "Even though everyone is busier than ever responding to the crisis, setting aside the time to focus on two areas -- preparedness and security -- can go a long way toward buffering networks from future security breaches," says Tom Held, founder of Oakland Group Cyber.
Marketers can adapt their efforts to boost engagement among consumers sheltering in place and consuming more online media by delivering valued branded content and amplifying support for health organizations and humanitarian efforts such as Crocs donating clogs to health care workers, writes Hey Honey's Chris Adams. He also urges marketers to become more interactive with face filters, branded effects and GIFs, augmented and virtual reality experiences and live experiences on Facebook, Instagram, YouTube, Twitter/Periscope, TikTok and Twitch.
Use this time of crisis to develop new strategies, break bad habits and encourage employees to innovate, writes Barry O'Reilly. "The only way to get the data you need is to take action -- test and validate (or invalidate) those assumptions -- and learn what is truly fact or fiction," he writes.
Did you miss last Thursday's webinar with Alan Beaulieu: "Distribution Industry: Navigating the Crisis," where he provided a short-, mid- and long-term financial outlook for wholesale distribution along with other leading economic indicators? It's not too late for you to join the hundreds of distribution executives who benefitted from Alan's forecast. The webinar recording and slide deck are available now for purchase. Order here.
At this critical time for the economy, online payment acceptance can mean the difference in whether you're paid. Stream the podcast from NAW Trusted Partner Unified to learn how replacing paper check acceptance with an easy-to-use "PayNOW" link on your website allows customers to pay in real time, online with credit card.