Column: White Cap sale signals distribution's future | Advance Auto Parts' Q2 sales, earnings increase | Higher same-store sales spur Q2 growth at Home Depot
The combination of HD Supply's former White Cap business with Sterling's Construction Supply Group is a sign of the consolidation that's needed to combat disruptions by Amazon, Google, Alibaba and other players outside distribution, argues Ian Heller, a former White Cap executive. "Distribution companies either need to focus on very tight niches that disruptors aren't interested in, or they need to join forces and marshal the resources to thrive in a new era of competition," he writes.
Advance Auto Parts earned $190 million in the second quarter, an increase from $124.8 million a year ago, while sales of $2.5 billion were also an improvement. CEO Tom Greco said the company benefited from people using federal benefits to repair vehicles.
Automate exemption certificate management With the Wayfair decision, sellers are required to validate tax exempt sales in more states. Staying compliant without complicating the purchase process for customers is tricky. Read this paper to learn how to keep tax exempt customers happy while reducing your compliance burden.
The coronavirus pandemic could lead to contactless delivery for items such as groceries and create a business model for the use of autonomous vehicles, according to Kristin Kolodge of J.D. Power. The move could spark a change in public mindset toward the development of autonomous vehicles, Kolodge says.
Distributors can automate parts of their warehouses and enact social distancing policies to protect workers now and after the pandemic, writes Jason Nowak of Bastian Solutions. Such policies include training in safety protocols, hand-washing and sanitizing stations, personal protective equipment and physical barriers.
Next Level Application Testing 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 on-demand webinar.
Sales managers should use virtual meetings and frequent communication with their teams to keep them engaged, particularly as many salespeople continue to work remotely. Highlight positive developments and successes among your team to ensure everyone feels appreciated and stays motivated, writes Colleen Francis.
Strategies founder when they are driven by unfocused attention, being reactive to competition or failing to help employees understand the desired behaviors and processes, writes Paul LaRue. "A leader who only wants immediate results fails to understand how a strategic plan creates a process to make better results sustained over a longer period of time," he writes.
Distributors: NAW is working with Distribution Strategy Group to get input from distributors' customers on a range of disruptive technologies: AI, 3D Printing, blockchain and more. Here is how you can help: Please send a brief survey to your customers -- we want input directly from purchasing professionals and other business buyers. We need to complete this research as quickly as possible, so please email your customers ASAP. You may access the NAW survey link here, and we've also included some text you can use to communicate with your customers. Thank you!
In his post for the NAW Blog Distributing Ideas, Senthil Gunasekaran, co-author of NAW's "Unlock the Power of Inventory Analytics," says that in their research, he and his co-authors analyzed distributors' crisis responses across verticals to identify evolving trends. They found that there are three key steps to managing market shifts and balancing customer service and working capital, or inventory, as we move into the new normal. Read his post.
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.