Remote work technology is transforming how employees are recruited, hired and managed, says Cory Calderon, director of organizational development at Valin. The changes in how work is done include building opportunities for collaboration and leveraging employees' skills to train others.
Every economic downturn is different, but the end result is usually industry disruption, where winning companies are those that invest in growth opportunities while judiciously selecting areas for cost-cutting, Geoff Colvin writes. "Compared with competitors who come out of recessions badly, they actually spend less on SG&A (selling, general, and administrative expenses) in good times but then spend significantly more on it during the downturn, according to McKinsey researchers," Colvin writes.
More than 90% of distributors responding to an Industry Insights survey say they have restored at least three-quarters of operations that were interrupted by the pandemic. However, distributors are increasingly concerned about long-term viability.
Meeting the payment demands of hackers who deploy ransomware doesn't always result in the return of encrypted data, and having cyberinsurance policies could make the holders of those policies a more enticing target, writes SmartBrief's Patrick Hopkins. In this wide-ranging exploration, he addresses various types of ransomware, the emergence of ransomware-as-a-service, and the common targets and financial impact of ransomware.
Pradip Krishnadevarajan walks through how distributors can avoid overdiscounting right now by basing prices on factors such as "visibility, control, ownership, focus and balance."
Inside salespeople are different from customer service representatives because the former "love to take a more active, leading role in customer interactions" and do their work over the phone, writes Debbie Paul of Distribution Strategy Group. She lists six steps to a successful inside sales program, including having buy-in from senior management and introducing incentives and other recognition.
Distributors have made progress in navigating through this unprecedented disruption, but much more is needed. In this live webinar, we will follow up with Michael DeCata, President and CEO of Lawson Products, to hear how he is navigating through COVID-19 and how it has accelerated his plans around innovation. Mark Dancer, author of NAW's "Innovate to Dominate," and Richard Blatcher of PROS will explore with Mike how distributors must implement an "innovation ecosystem" to compete in the new normal. Register today! Sponsored by PROS.
The card brands' largest fee increase in more than a decade threatens to wipe out wholesale distribution's already thin margins. Credit card acceptance solutions with surcharge technology pass processing fees on to customers who choose the convenience of paying with cards. Learn how in the on-demand webinar from NAW and Trusted Partner Unified.
