Bunzl on Monday announced first-half revenue of $6.34 billion and adjusted profit before income tax of $400.92 million, both higher than a year earlier. The distributor also said it will acquire safety gear provider MCR Safety and flexible packaging distributor Abco Kovex.
Shipping changes can lead to unexpected spend The dramatic changes in the shipping industry over the last few months mean your carrier contract might not be a good fit for your business anymore. Know your own shipping data so your rates and discounts align with how you ship now - not last year. Learn how to renegotiate
Buyers are prioritizing speed over loyalty right now, especially when ordering online, says Ranga Bodla of NetSuite. Distributors should be offering digital delivery tracking and using social media and digital marketing in addition to an e-commerce portal, Bodla says.
Companies can boost supply-chain resilience and efficiency by investing in digital capabilities, writes Kweilin Ellingrud, a senior partner at McKinsey. She explains how digital tools, including databases, automation and RFID tagging, can manage disruptions and minimize risk.
Distributors can retain customers during difficult times by providing superior customer service, which includes using automation for monotonous tasks such as manual order processing, writes Ray Grady, CEO of Conexiom. "Customer service of the kind facilitated by sales order automation is now a competitive edge," he writes.
Marketers are redesigning their text marketing strategies amid the increasing use of mobile devices in order to build consumer trust and increase sales, writes Jared Atchison. He offers tips on maximizing engagement and urges marketers to focus on improving customers' lives and saving them money.
The pandemic has led to a 102% increased risk of depression among US workers, rising to 305% for employees ages 20 to 39, according to Total Brain's July Mental Health Index. Mental health experts warn the situation will worsen as winter approaches, and Flawless Foundation's Janine Francolini urges employers to make mental health "the absolute top priority."
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.
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!
AI expert Benj Cohen explains what CDPs are and how distributors can use them to leverage their most valuable resource, customer data, to drive huge growth. He writes, "CDPs are an extremely effective tool for businesses because they bundle multiple complex processes into the same solution. CDPs not only give distributors a way to generate and collect customer data, but they also allow distributors to distill this information into smart actions and automatically execute those actions." Read his post.
