Tech Data has reported $79.3 million in earnings on $9.09 billion in revenue for the fiscal second quarter ending July 31. Americas revenue increased by 7% during the quarter.
Amazon's investments in warehouses, sorting centers and delivery vans have helped the company transition from a customer of FedEx, UPS and the US Postal Service to a competitor. Amazon's spending on shipping and fulfillment has multiplied more than 10-fold this decade, and the company delivers almost 50% of its orders.
Leaders of distribution firms must be proactive in communicating with executive team members and other employees, according to Mayer Electric Supply President Wes Smith. It's up to leaders to create and maintain "a culture of open, safe dialogue," Smith said.
Some 61% of business-to-business buyers prefer to communicate with sales representatives instead of self-service tools about complex products and special pricing, PROS reports. Additionally, 58% of respondents said they'd rather engage with a person about specific terms, 52% would choose a sales person instead of self-service tools to learn about new products and 48% would pay 5% more if they received instant information on pricing.
Digital transformation efforts must be focused on delivering a superior customer experience by using technology to solve pain points at scale, write Greg Boone and Kevin Eichelberger. Marketers should employ cloud-based data technology systems to monitor customer behavior across all touch points and deliver highly targeted, personalized content that will boost conversions, they write.
The "grand strategy" of great ideas is a necessary step but needs to align with the operational strategy of what customers want, write consultants Daniel Deneffe and Herman Vantrappen. They recommend testing the grand strategy to ensure that it can be effectively communicated inside and outside of the organization.
All companies need to invest in worker skill development if they hope to retain talent, writes Daniel Newman, CEO of Broadsuite Media Group. "Who would an employee rather work for: a company that provides ongoing upskilling, free of charge, to keep their skills relevant, or a smaller company that asks them to find -- and pay for -- their own skill development elsewhere?" he argues.
"Optimizing Distributor Profitability: Best Practices to a Stronger Bottom Line" is a groundbreaking research study -- with an oversize, step-by-step wall map -- that features 47 best practices and 50 action steps developed from actual experiences with 84 real-world wholesale distribution firms. This perennial best-seller is a powerful weapon to use to enhance your shareholder value. Also available as an e-book. Download a sample.
The time has come to address your concerns about shrinking margins by upping your game on pricing decisions. If you keep doing more with less, you'll soon be doing everything with nothing. The issue of margin erosion will never end if you don't get creative -- first with your pricing methods and second with your value proposition. If you want to leverage pricing optimization best practices that are rooted in sound analytics, start by reading "Pricing Optimization."
"Customer Stratification: Best Practices for Boosting Profitability" is a first-of-its-kind study that provides groundbreaking research, best practices from 68 real wholesaler-distributors and 20 practical action steps ready to implement. Rather than focus on sales force communication, this cutting-edge research focuses on customer relationships and the value customers provide to distributors. It looks at four customer stratification dimensions: buying power, customer loyalty, profitability and cost-to-serve. Order now.
