Grainger reports steadiness in fulfillment, staffing | Fastenal CEO: Pandemic has affected part-timers, freight | US LBM buys 2 companies in Ga., one in Va.
Grainger's distribution network has helped the company fulfill orders despite wider supply chain problems, CEO and Chairman D.G. Macpherson says. The company has also fought to hire and keep employees through wage increases and additional training.
Campus closures and a shortage of childcare have hampered Fastenal's efforts to hire and retain part-time workers, says President and CEO Dan Florness. The company is also challenged by ocean freight being more expensive and taking longer to deliver, and "this dynamic could persist at its current level of intensity through 2021," Florness says.
US LBM Holdings has acquired Georgia-based North Georgia Building Supply and Junior's Building Materials, along with Virginia-based Massey Builders Supply. Terms were not disclosed.
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Procurement teams can use strategic sourcing to control costs, reduce risk and maximize value by weighing the overall value of a vendor relationship rather than just the cost of the product or service, asserts Dave Hulsen. Some aspects used to evaluate vendors include sustainability, diversity, innovation, ability to customize, brand reputation and reliability.
Sales of Class 8 trucks powered by natural gas revved up 19% in the US and Canada for January through May, according to a report from ACT Research. During the same time period, total sales of Class 8 trucks rose 32% in the US only.
Sales leaders should carefully examine their processes to find potential "pinch points" that can slow down everything, such as insufficient staffing in key departments or time-consuming pricing approvals. "Get clear on your pinch points and remove the friction other departments may be experiencing so you can capitalize on your opportunities," writes Colleen Francis.
Companies that prioritize career development are more likely to attract and retain the best talent, writes Brandon Hall Group's Claude Werder, who recommends six tactics. These include training managers to develop talent, identifying vertical and horizontal career paths and aligning career development to learning experiences and performance goals.
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