KeHE CEO: Food industry must adapt to "Next Normal" | Fastenal posts Q3 increases in sales, profit | SRS Distribution buys Pa.-based construction distributor
With changing shopping and eating habits redefining the "Next Normal" stage of the pandemic, KeHE CEO Brandon Barnholt says the industry must continue its efforts to meet persistent supply chain challenges, especially when it comes to growing demand for organic and fresh products. Barnholt, in an open letter, also said the labor shortage "has required significant advancements in recruiting and retention for our organization, including considerable investments in wages, retention programs, and sign on bonuses."
Fastenal had third-quarter profit of $244 million, up 9.9% from the year-ago period, on sales of $1.55 billion, a 10% increase. Fastener sales were up 20.2% from the same quarter last year, accounting for over one-third of total sales.
B2B buyers increasingly want B2C-style features when shopping online, so B2B companies should prioritize the user experience and design of their online ordering portals, writes Justin Racine of Perficient. Racine recommends analyzing data and evaluating content management systems to see where improvements can be made.
Growing demand for warehouse automation will spur growth in the market, going from $29.6 billion last year to $69 billion in 2025, according to an Interact Analysis report. Meanwhile, Allied Market Research reports that the delivery robot market is expected to grow at a compound annual rate of almost 25% through 2030, possibly reaching $30.5 billion.
Salespeople should avoid using emails to set up meetings with prospects, as emails are too easy to simply ignore or delete without requiring a decision on the buyer's part. Hearing "no" is preferable to not getting a response at all, making phone calls much better for arranging meetings, writes Anthony Iannarino.
High-level talent can be disgruntled because they don't believe their managers support their growth, seek their ideas or appreciate their output, writes HRPlus CEO Bryan Otte. "Instead of throwing more money at broad surveys, salaries and benefits, take the time to have real conversations to flesh out what really matters to your workforce," Otte writes.
Criticism is a part of having responsibility, status and power, and we must learn to understand ourselves, filter through criticism and make changes when our critics have a point, writes John Maxwell. Understanding and processing criticism requires discernment, such as in knowing what criticism is about the institution and less about you personally.
This 4-part series will take you from AI-unsure to AI-adopter through a riveting compilation of live webinars, thought-provoking articles and actionable whitepapers! You will gain the intel you need to formulate new strategies and ensure that your company thrives through this era of technology transformation. Register for this month's upcoming webinar "Understanding AI and How it Works" and learn the basics of Artificial Intelligence and how to understand business conversations about it.
NAW's flagship Roundtable program is back in person! At these Roundtables, you'll exchange ideas with a trusted network of C-suite peers in distribution. Companies belonging to this community are from distribution firms between $100 million and up to $1 billion in annual sales. This unique setting of engaging with industry thought leaders and distribution executives will provide you with takeaways you can't get anywhere else! Don't miss this chance! Don't miss this chance! Register today!
