HD Supply will proceed with separating its facilities maintenance and construction and industrial businesses, although the timing may depend on market conditions. The distributor reported fiscal first-quarter operating profit of $121 million and sales of $1.4 billion, both down from the same period a year ago.
Supply chain executives should turn to scenario planning to sustain operations and prepare for a second round of coronavirus-related disruptions, writes Gartner's Sarah Watt. She urges supply chain professionals to ask, "What if?" "How fast?" "How severe?" and "How would we respond?" to identify risks and opportunities.
Distributors need to bolster their online operations and have marketplace and services strategies if they are to compete successfully with business-to-business marketplaces such as Amazon Business, write Ian Heller and Jonathan Bein of Distribution Strategy Group. That means having "a world-class digital presence" that's easy to use and a solid menu of services, they write.
Maintaining Business Continuity in Tough Times COVID-19 has impacted the global economy and changed the way businesses operate. Overnight, every business has needed to reassess how to do more with less. Thankfully, sales order automation has made this possible for companies like Genpak. Watch this webinar, now available on-demand, to find out how you can keep customers supplied and supported.
Brady Behrman explains how business-to-business marketers can ensure their brand is top of mind as buyers increasingly research independently online before purchasing, advising the use of e-commerce applications to give buyers the information they need. Ensure e-commerce sites are not only functional but pleasingly designed to give a positive impression of your brand and embrace automation to deliver a fast, seamless experience, he writes.
Certain CEO Peter Micciche talks about the changing world of events in the wake of the pandemic and why he thinks virtual experiences will be a mainstay of events marketing going forward. "The B2B marketer, in particular, must leverage virtual events to bring attendees lower into the sales pipeline," he says, adding that digital events are "a bit of a dream come true because you can truly segment events to your buyers' needs and deliver content that's specific to them."
If you're an executive, are you checking in with black and other minority employees, rectifying under-representation and ensuring those voices are part of decision-making, asks Alaina Love. "It doesn't matter whether your team is comprised of 40% minority employees if they are not truly included in the networks of communication, influence and trust on your team," she writes.
Subscribe to the new NAW Podcast Series: INNOVATE TO DOMINATE, sponsored by PROS so you don't miss a single episode. In episode 1, listeners will learn about INNOVATE TO DOMINATE and what it means in the context of COVID-19. This podcast series is centered around the findings in NAW's "Innovate to Dominate: The 12th Edition in the Facing the Forces of Change Series," which helps distributors connect the dots between the forces of change, the things that are reshaping how customers buy, and how businesses operate.
Are you well-informed about different best practices and knowledge in our industry? If not, NAW's Top 10 E-book List can help get you up-to-speed quickly so you and your business can stay competitive in these challenging times.
