Pandemic Revenue Index returns to weekly increase | Fastenal has become "the Energizer Bunny of distribution" | Walmart stores helping to ease flow of online orders
Indian River Consulting Group's Pandemic Revenue Index of 13 companies increased by 3.6% for the week of Nov. 16-20. "This was yet another up week following a down week," IRCG's Mike Emerson writes.
Fastenal has succeeded during the pandemic because of its small stores, e-commerce ventures and vending machines, as well as its culture, write Jonathan Bein and Ian Heller of Distribution Strategy Group. "Fastenal is essentially the Energizer Bunny of distribution right now," they write.
As online demand continues to grow, Walmart is turning to its brick-and-mortar stores to help ease the strain on its fulfillment centers. The retailer, which has 2,800 sites offering delivery services, is now routing some online orders to be filled at and delivered from those stores in an effort to avoid delays.
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Transforming retail and CPG: what's next? As the world becomes increasingly digital, retail success will be shaped by the adoption of artificial intelligence and machine learning tools. Get ideas for business transformation and success in the "new" normal, including: personalized promotions and product recommendations, loyalty program management, auto-populated and personalized carts and chatbots, frictionless checkout, and more! Get the Google Cloud report
Supply chain and pharmaceutical companies are working on the cold chain that will be needed to transport vaccines from Moderna, Pfizer and BioNTech that will require consistent temperatures from the manufacturer to the clinic. This article outlines both the innovation as well as the potential obstacles vaccine distribution chains will face.
Because cyberattacks often occur at off-hours, enterprises should determine how "key business leaders, stakeholders and individuals with required skills will be contacted outside of their normal working hours," writes John Pironti, president of IP Architects. Pironti lays out that and four other key areas a response plan should cover.
One of LinkedIn's most useful features for business-to-business marketers is Lead Accelerator, which can be used to successfully nurture leads, Praveen Mishra writes. Mishra's other tips for generating and converting leads on the platform include optimizing keywords, posting frequent videos and engaging with audiences.
The disruption caused by the coronavirus pandemic has only served to make sales leaders' jobs more unpredictable and difficult, writes David Brock. Still, creative leaders who thrive on experimentation and problem solving will find ways to succeed, as well salespeople who know how to take risks and engage customers, Brock writes.
Employees and customers expect businesses to treat them with respect, to honor diversity and to champion causes that advance the common good, says S. Chris Edmonds in this video and blog post. "To remain competitive and to attract and retain top talent, companies must invest in their employees while enabling healthy work-life balance," he says.
In his latest Chairman's Column titled, "Entering Our Next Chapter," NAW Board Chairman Doug York of Ewing Irrigation & Landscape Supply reflects on his year as Board Chairman, where he led through transitions in the industry, at NAW and in his own company. He views 2020 as the year to reset and usher in a new era, writing "we have opportunities to try new things, embrace new ideas and find innovation in charging forward." Read his column.
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.
Wholesale distribution's most common credit card transaction type, card-not-present payments, face the largest fee increase in a decade. Stream the "Surcharge as a Strategy" webinar to see automated cash application technology protect margins from fees and migrate your customers' payments to lower cost transaction types including ACH and debit card payments.