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October 14, 2021
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Top Story
The acquisition of Ingram Micro by US private equity firm Platinum Equity provides the technology distributor with more opportunities and resources for growth, according to Kirk Robinson, chief country executive for the US. Robinson also expects Ingram Micro's recent purchase of Cloud Logic to support "long-term profitable customer relationships."
Full Story: CRN (US) (10/12) 
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Fastenal has seen shipments of fastener products from overseas be delayed by weeks due to port congestion and other supply chain issues. However, domestic supplies have been less affected, and the company's high inventory levels have helped it meet customer demand, says President and CEO Dan Florness.
Full Story: Star Tribune (Minneapolis-St. Paul, Minn.) (tiered subscription model) (10/12) 
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Prepare for Future Disruptions — Today
When asked about their strategic priorities, 94% of technology decision-makers said they're interested in cloud-based solutions (up from 25% last year). Why? They believe doing business on the Cloud is now crucial — allowing them the agility and security to prepare for whatever comes next. Read the 2021 Industry Report
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Operations and Technology
Distributors are finding benefits with automation and artificial intelligence in areas such as overall efficiency improvements, better product life cycle management and better customer engagement and fulfillment, says Nick Carpenter of Esker. AI and automation also can help with back-office functions such as credit management, order management and collections.
Full Story: Modern Distribution Management (tiered subscription model) (10/12) 
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EXPERIENCE THE BEST IN COMFORT
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Sales and Marketing
Distributors should use assessment data to evaluate their sales teams and identify which salespeople are best suited for which roles, as well as which ones could benefit from more training, writes Mark Roberts of OTB Solutions. Roberts also lists other qualities that top salespeople should have, including the ability to sell remotely and willingness to discuss money.
Full Story: Modern Distribution Management (tiered subscription model) (10/8) 
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Ensure better conversations with these sales questions
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Salespeople should practice using open-ended questions to better understand prospects' needs, starting with questions about the customer's business, goals and priorities. It's also a good idea to ask about the prospect's growth opportunities and pain points, writes Tony Alessandra.
Full Story: HubSpot (10/11) 
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Playing the role of the "reluctant seller" can expand the negotiating range of the buyer, leading to higher sale prices, according to Roger Dawson. Meanwhile, salespeople must be careful when dealing with reluctant buyers, who can often negotiate lower prices by appearing conflicted or disinterested, he writes.
Full Story: Skip Prichard Leadership Insights (10/12) 
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The Business Leader
Teams can be better about completing tasks by understanding what's routine and what's urgent, with each group of to-dos receiving deadlines that "schedule the finish," writes David Dye. Leaders, meanwhile, must be aware that employees will tune out someone who is shouting about the urgency of every single activity.
Full Story: Let's Grow Leaders (10/11) 
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A growing number of companies are investing in apprenticeship programs to minimize the disadvantages for potential employees without a four-year college degree -- something more than half of working-age adults in the US lack. For example, consulting firm Accenture started an apprenticeship program in 2016 and now has hired 1,200 apprentices in dozens of cities across the US.
Full Story: CNN (10/12) 
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NAW Insider
Brand-New NAW Series: The Distributor's Playbook to Artificial Intelligence
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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.
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NAW Large Company Roundtables are back in-person!
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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!
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Breakthrough Education = Groundbreaking Results
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Are you looking for professional development programs to help you retain and develop your key personnel? If yes, then the NAW Certificate in Distribution Professional Management program will help your leaders reach their highest performance levels. Learn more.
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National Hispanic Heritage Month is Sept. 15 to Oct. 15
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