Ace Hardware's Q3 bolstered by strong online sales | Amazon announces reordering competitor for office supplies | Summit Electric Supply hires ex-Rexel USA exec as CEO, president
Ace Hardware reported $60.3 million in third-quarter earnings on $1.53 billion in revenue. Sales on the company's website increased 81% year over year, while overall revenue was up by 7.2%.
Amazon has announced the Dash Smart Shelf, which will allow businesses to automatically reorder supplies or receive low-inventory notifications. The shelves, which have not been released, will allow Amazon to compete with Staples' auto-restocking service and Office Depot's supply subscription offering.
[WEBINAR] Prepping for 2020 Register for the webinar on Thursday, December 5th at 2 PM EST. Experts from Netsuite and Deloitte will discuss 2020 trends and technologies that will drive business, how to respond to a growing demand for price transparency, why now is the time to invest in updating back-office systems and more.
Supply chain managers must be prepared to deal with the effects of an economic slowdown -- namely excess inventory, pricing pressures and empty warehouse space, Craig Guillot writes. That means paying attention to suppliers' financial health and to what other departments are noticing, he writes.
Cyberattacks in the third quarter were frequently directed at transportation, delivery and storage businesses, according to a report by cybersecurity company Mimecast. Josh Douglas, Mimecast's vice president of threat intelligence, said companies need to focus on email security and educate employees, which he called "the last line of defense."
A new report from Medallia and Accenture provides insights into how business-to-business marketers are performing with customer experience, including that leading companies collect multiple types of digital feedback to improve the customer experience across websites, purchasing and more. The study also reveals that leaders in the space are more likely to operate a model where accountability for customer experience is shared between a dedicated unit and other business teams.
As businesses like Amazon and Walmart introduce streamlined services for e-commerce fulfillment and distribution, customer expectations are evolving in-kind. But without equal funding, how can small and mid-sized companies optimize their supply chains to remain competitive? For a growing number of firms, the answer is on-demand warehousing.
For small businesses dealing with high shipment volumes or complex products, having to fulfill every new order in-house can quickly become overwhelming. But given their limited resources, how can small businesses grow more efficient without depleting their budget or overwhelming their staff? The answer might just be on-demand warehousing.
Leaders can inspire loyalty when they listen, provide chances for small wins, make others feel valued and have a forward-moving vision, writes Lolly Daskal. "It is the leader who constantly challenges the status quo, who is not happy with keeping things the same, that people love working with," Daskal writes.
A study suggests that algorithms are better at predicting which jokes people will find funny, yet people's perceived trust in AI for recommendations is lagging. Trust increased after people understood what the algorithm was and how it works, researchers said.
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Billion Dollar Company CEOs, CFOs, operation executives, CHROs, CLOs, and CIOs attend these roundtables to benchmark solutions and strategies from distribution executives who are at the top of their game. The companies invited into this community are from distribution firms that exceed $1 billion in annual sales. Participating in this 24-hour, results-focused business meeting is one of the best ways to learn from your C-suite peers in distribution -- who aren't competitors! Register today.
Register today for the NAW 2020 Executive Summit: INNOVATE TO DOMINATE, January 28-30, 2020! Our program will provide for you a road map to innovation. You'll ignite your innovative mindset as you peer into the future of wholesale distribution, explore marketplace platforms, and examine the points of view of today's business experts and next-generation distribution entrepreneurs who are creating new business models to satisfy industry and customer needs, and create new demand. Get all the details and register today!