There were 19 mergers and acquisitions among industrial distributors and suppliers last month, more than the combined total for April and May, writes Mike Hockett of Industrial Distribution. "With the US economy expected to grow considerably over the rest of the summer, I'm expecting industrial distributors and manufacturers to continue making deals as the financial impacts of the pandemic continue to wane and companies' product mix [regulates] back to a pre-pandemic state," Hockett writes.
Gas stations in Missouri, Iowa and Ohio have experienced temporary fuel shortages, which are due to a lack of truck drivers to deliver gasoline, according to Patrick De Haan, head of petroleum analysis at GasBuddy. The pandemic has exacerbated the overall truck driver shortage, De Haan says.
Warehouse operators can choose between integrated and standalone warehouse management systems, as well as between on-premises and cloud-based ones, write Julia Rittenberg and Adam Hardy. Integrated and standalone WMS serve different priorities, while on-premises is better for smaller companies and cloud-based for larger ones, they write.
Corporate jargon should be avoided at all costs, advises Writer co-founder and CEO May Habib, who lists 20 examples marketers should eliminate from their vocabulary. "Actionable insights" takes top spot for pointless jargon and to those who use the word "holistic," Habib writes, "Is it herbal medicine? OK. Then, no."
Content marketing is not just a valuable business-to-business tool to generate awareness and drive leads to conversion, but also should be used after sales to improve customer retention, Louder.Online's Aaron Agius writes. Post-purchase strategies could include educational content, product updates and demonstrations, and engagement efforts to foster brand ambassadors, Agius advises.
Put yourself in your team members' shoes, ask what kind of information they need and find out what communication style they prefer, writes Scott Eblin. Go on a "listening tour" to understand the "so what?" behind every employee's motivations so you can focus on clearly answering their questions and meeting their needs, he writes.
Leaders who are not willing to do the most undesirable jobs, such as sweeping, create a culture where team members don't see the need to jump in and help when necessary, writes Air Force Officer Brandon McRay. "[T]his simple act of taking over the broom from you is a great sign that your people realize how valuable your time is in leading them well, which is exactly what they need from you the most," he writes.
The distribution industry has worked tirelessly over the past year to keep the economy moving while facing unprecedented challenges. As we look to turn the page on the pandemic, we are better together as an industry of 5.6 million people who collectively contribute $5.8 trillion annually to our country's GDP. Read Mike's column here.
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