Ingram Micro's growth last year was helped by its dedication to customer experience, while in 2021 the company will also focus on financial programs, digital experience and B2B e-commerce, says Kirk Robinson, senior vice president and US chief country executive.
Sales gains in Asia helped Avnet post a fiscal second-quarter profit of $19.2 million on sales of $4.67 billion, with both figures improving on the prior year. Americas sales declined year over year.
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Companies can give customers the fast delivery they want while ensuring adequate inventory by turning to alternate suppliers, limiting stock-keeping units and using visibility software throughout the supply chain, writes David Maloney. "If your partners are not able to provide the kind of data you need to monitor and manage supply, it might be time to find new partners," he adds.
The rising tide of ransomware is reverberating through the cyberinsurance industry, which seems ready to defer to governments' guidance. Insurers are adjusting premiums and coverage because they "feel uncomfortable about paying huge sums to cybercriminals, which, while not illegal, is an ethical gray area," says Robert Hannigan of BlueVoyant International, a cybersecurity firm.
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There's often friction between sales and marketing teams regarding who should be subservient to the other, but the departments perform best when they collaborate in an effort to serve the customer, writes Brian Hansford. There must be top-down support for achieving a common goal among the leaders of both departments, with working relationships that are enriched by common definitions and workflows, Hansford writes.
Flexible and human messaging will be critical for business-to-business marketing this year, writes Markerly's Justin Kline, who outlines three other priority areas. B2B marketers should personalize virtual event experiences, invest in digital and prioritize video on LinkedIn, Kline recommends.
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Knowing your employees' stories can help you understand their motivations and respond in kind, writes Dan Rockwell. "When team members admire someone in their story, notice how they possess those same admirable qualities," he writes.
Webinar: 2021 Manufacturing Trends This year is shaping up to be a year of advancement for US manufacturing. This on-demand webinar explores: how technology will help manufacturers this year, why a localized supply chain is gaining favor and what actions manufacturers must take to boost profitability now and in the future. Our panel of experts will offer new-year strategies and real-world examples of how best to succeed. Watch now
In NAW's just-released "Strategic Change During Disruption: An Industry Response to Get Smarter, Faster and Stronger," Ian Heller and Jonathan Bein will summarize what they learned through research conducted with distributors, suppliers and customers. They'll provide a roadmap forward: a specific set of recommendations on the strategic actions that the wholesale distribution industry -- and individual companies -- should take to fend off competitors, outflank the disruptors and prepare to take market share and improve profitability. Also watch the companion webinar on demand.
NAW Institute Fellow Mark Dancer says, "Many distributors report a dramatic shift toward customer orders placed on e-commerce platforms. This trend has confirmed what many have said for several years: distributors must invest in modern e-commerce platforms to remain a viable source for meeting customer expectations. But is doing so enough? Is there a more vital lesson that many distributors are missing? Will distribution miss a critical opportunity for locking in unbreakable customer loyalty if they remain blind to the bigger picture?" Read more.
NAW has just completed its 7-part series, How Technology Will Transform Wholesale Distribution -- 7 free research reports and 7 free webinars, with Ian Heller and Jonathan Bein of Distribution Strategy Group. Based on new research conducted with wholesaler-distributors, manufacturers and distributor customers, this series provides the intelligence you need to formulate new strategies for 2021 and ensure that your company thrives through this era of technology disruption and transformation. If you missed any part of this series, you can catch up now.