Fastenal: Pandemic's boost to supplies is moderating | Pandemic Revenue Index posts small weekly decline | Henry Schein helps revamp dental e-commerce site
The demand for janitorial and other pandemic-related supplies remains above normal but is moderating, affecting prices for certain products, say Fastenal executives. CEO Daniel Florness says having ample supply isn't a bad thing "in today's chaotic world."
Indian River Consulting Group's Pandemic Revenue Index of 13 distributors declined by 0.4% in the week of Oct. 5 to 9. Only four distributors reported sales increases, although all were about 13% or more.
Henry Schein and The Dentists Supply Co. have reintroduced the e-commerce portal TDSC.com to serve dental association members in all 50 states. Many dentists are looking for new suppliers during the pandemic, says AJ Caffentzis of Henry Schein Dental.
How retailers should embrace the new normal The pandemic has reshaped consumer behaviors and the customer experience, most likely permanently. As we look to 2021, retailers need to focus on planning for the future with strategies that meet both the immediate and long-term needs of their customers and maximize the potential of all their sales channels. Join SmartBrief and retail industry experts to explore how the retail landscape has changed this year and how retailers can succeed in 2021.
Analytics can help distributors mitigate stock-outs and other supply chain interruptions, but companies need to have the right employees to use analytics effectively, says Taylor Clements of Enavate. He notes that analytics can suggest alternative products to customers, which increases purchases and satisfaction.
Digital operations platforms with artificial intelligence and data automation can enhance product recommendations and improve upon enterprise resource planning systems, according to a Forrester Research report that reviews major providers. "Great DOP choices provide out-of-box solutions for their specific industry," the report says.
Distributors should be reconsidering the role of field salespeople, especially in terms of assigned customers, writes Mike Emerson of Indian River Consulting Group. Instead, field reps' assignments should be "based on where they are required to protect marquee customers and able to move the needle on growth," he writes.
Midlevel executives who haven't managed people have to quickly learn how to handle difficult situations and understand what style of leadership suits them, writes Lara Hogan. "Figure out -- and document -- all the things you typically need when you have to make a tough call," she writes.
Manufacturers are reevaluating their distribution strategies in real time as channels undergo technology-driven disruption. Some suppliers are choosing to sell directly to end users, while others are betting on marketplaces -- or relying on traditional distributors. On this 60-minute webinar, which is based on original research with manufacturers during COVID-19, Ian Heller and Jonathan Bein of Distribution Strategy Group will discuss how manufacturers see emerging technologies transforming distribution channels. Register now for this Oct. 20, 2 p.m., webinar.
Designed for C-suite executives, these virtual roundtables provide actionable strategies that will help put your COVID-19 recovery plan in place. Companies belonging to this community are from distribution firms that exceed $1 billion in annual sales. You'll engage in robust conversations with your peers and hear from industry experts on topics to help your business transition to the new normal -- all in the comfort of your own office/home. Register today.
NAW Institute Fellow Mark Dancer writes that "distributors have the opportunity to break free of the chains that bind them to meager margins and feeble brands. But, there is a problem. The prevailing distribution mindset is that the forces of disruption and digital transformation highlight the weaknesses in the distributor's business model. Distribution is threatened, but distributors can do more. The forces of change that are enabling disruption are also available to distributors. Breaking free requires a new mindset: Distributors can dominate!" Read more.