Fastenal limits digital sales of COVID-19 products in Q2 | Core-Mark posts Q2 profit as noncigarette sales fall | Fastener Distributor Index slips in July
Digital sales at Fastenal continued to grow in the second quarter, but at a slower rate than in the previous quarter as the industrial distributor "put in place a very strict allocation process for our COVID-19 products," CEO Dan Florness said.
Core-Mark earned $16.9 million in the second quarter on revenue of $4.26 billion. Noncigarette sales, particularly food and candy, declined 8.9%, while cigarette sales were up 2.1%.
The monthly Fastener Distributor Index from FCH Sourcing Network and R.W. Baird came in at 54.6 in July, below the June reading but still marking an expansion. Half of the index's eight metrics increased over June.
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Fix Onboarding & Scheduling to Lower Turnover Employee turnover can be as high as 50% in the first six months. Automate onboarding & scheduling and sharply reduce turnover. New hires will hit the ground running and stay happy. Download: How to Quickly and Remotely Onboard Manufacturing Employees Post-Pandemic.
Five indicators can serve as red flags that a ransomware attack may be imminent, and information security executives should be alert for them, writes Peter Mackenzie. He lists several network scanners and hacking tools whose presence should prompt an investigation, including AngryIP, Advanced Port Scanner and MimiKatz.
California-based startup Mighty Buildings is producing the ceiling, floors, roof, walls and overhangs for tiny houses using a 20-foot-high 3D printer. The entirely 3D-printed houses, which take 24 hours to print, reduce labor costs which make them more affordable than factory built houses.
Improve and accelerate your testing program Now more than ever, retailers must ensure flawless experiences for their customers. Organizations must improve their customers' experience and drive better relationships with their audience across points of contact. Hear from testing experts how you can improve and accelerate your testing program using automation, crowdtesting and Artificial Intelligence in this webinar.
Capgemini's Bibhakar Pandey explains why marketers should use a content scorecard to inform strategy and create "compelling, connected content that grabs the individual visitor and seamlessly leads them from acquisition to conversion to purchase." He describes what marketers should monitor as part of their scorecard, including the most popular forms of content and creative, who is consuming content and the best-performing channels.
A little bit of pessimism can go a long way, helping you create realistic expectations and prepare for things to go sideways, writes Dan Rockwell. "You need enough pessimism to anticipate difficulties and enough optimism to keep moving forward," he writes.
NAW Institute for Distribution Excellence author Mike Marks says, "There is a lot of noise around digital transition, consolidation, manufacturers going direct, Millennials and Gen Z, and a host of other challenges facing distributors. All are important, but without three foundational elements, distributors won't be able to tackle any of these challenges with any great sustainable impact." Read his blog post.
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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.