How digital can help electrical distributors compete | Fastenal posts higher profit, revenue amid demand shifts | How to maintain security when terminating an IT employee
Smaller electrical distributors can stay viable by providing contractor customers with product expertise and by leveraging partnerships to offer technology services, writes Tri Tran, chief technology officer at Applico.
Fastenal reported $210.6 million in first-quarter profit on revenue of $1.42 billion, with both figures up from a year earlier. Demand for fasteners accelerated in March.
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Companies need to take extra steps to safeguard systems when IT administrators and related employees with wide-ranging access are terminated, Fred Mendelsohn writes. He recommends consulting with lawyers and cybersecurity consultants, changing logins before dismissing the employee and backing up critical information, among other steps.
Supply chain leaders are turning to artificial intelligence and machine learning technology to boost velocity, efficiency and decision-making in demand planning and warehouse management. "We will digitally simulate the supply chain, automatically refreshing it with data like bills of material, the run rates, the yields, procurement and supplier lead times to be able to make real-time adjustments to plans and inventory levels," said Shaun Phillips on QAD DynaSys' AI and machine learning capabilities and use cases.
A next-generation contact center experience Imagine a contact center that can run from anywhere, with greater scalability and efficiency. No more long hold times, fractured delivery of services, or disjointed systems. Watch on-demand as Deloitte and Salesforce discuss the disruptive forces that are likely to profoundly change the way service is delivered — enabling improvements at every touchpoint. Watch today
Messages That Matter co-founder Lawson Abinanti explains three common mistakes business-to-business companies make with marketing -- not effectively differentiating from rivals, not explaining value to customers and failing to promote a consistent, core message. "A company's competitive advantage should be the foundation for messaging, but only if it is unique and expresses a benefit that solves a pressing target audience problem," Abinanti says.
Virtual selling continues to be an opportunity for salespeople even if there are hiccups, especially when people understand what they can control, use a professional virtual background and prepare for calls, Paul Reilly writes. "This new shift has created new opportunities, but the principles of selling and persuasion remain constant," he notes.
Thrive in an Age of Acceleration Join the Infor Distribution Industry Connect on April 15 to hear innovative organizations share their digital transformation journey's and learn how greater visibility into critical assets can enable better capital spending decisions. Register now.
Vocal training and proper breathing matter more than ever for effective communication when people are speaking remotely or through masks, says voice and dialect coach Denise Woods. Respect your distinct voice, but do the work "to bring your full essence to your voice so that you can be heard, so that you can be respected, so that you can be appreciated for being the unique person that you are," she says.
Micromanaging leaders may be "over-functioning" if they are jumping in to help without being asked, feel a need to do things their way or overworry about employee reactions, writes Jennifer V. Miller. "In a management context, leaders over-function because they perceive that their team member(s) are not able or responsible enough without the leader's assistance or intervention," she writes.
A conversation with Hallmark and Farmgirl Flowers Now that retailers have learned how to operate amid a pandemic, it's time to get back to business, prioritize those goals that were derailed and set new goals that will prepare our teams for whatever comes next. Leaders from Hallmark and Farmgirl Flowers joined SmartBrief to discuss 2021 priorities, how business has evolved, and what's next. Watch the on-demand webinar
How have distributors been innovating their business during the pandemic? Find that out and much more from 10 distributors who tell their stories and share ideas for both surviving and thriving in a drastically changed business environment. Author Mark Dancer shares up-to-the-minute ideas and insights from distributor leaders based on their experiences and lessons learned from the coronavirus pandemic. Order this just-released e-chapter, "Distribution Leans In: Stories of Resiliency and Innovation During the COVID-19 Pandemic."
Designed for C-suite executives, these roundtables provide actionable strategies that will increase your company's competitive advantage. Companies belonging to this community are from distribution firms between $100 million and up to a $1 billion in annual sales. You'll engage in thought-provoking conversations with your peers and hear from industry experts on topics that will ultimately increase your profits! Register today.
With signs that masks, social distancing and, especially, vaccinations, may put COVID-19 in the rear-view mirror in 2021, we will explore in this third free webinar how the effects of the pandemic will change the distribution industry in the long run. Join NAW and Ian Heller and Jonathan Bein of Distribution Strategy Group on May 19 at 2 p.m. ET. If you can't attend, register anyway and we'll send you the recording. Sponsored by Oracle Netsuite. Register here.
