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August 11, 2022
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Top Story
More distributors are combining vending machines with inventory management software to collect transactional data and identify usage trends, as well as give customers access to many products at all hours of the day. "When industrial vending and inventory control software are offered as value-added services, distributors find that their customers achieve better inventory control, improved safety compliance, lower carrying costs, reduced stockouts and improved productivity," writes Mark Hill, founder of 1sourcevend.
Full Story: Industrial Distribution (8/8) 
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Amazon's planned acquisitions of health care company One Medical and Roomba manufacturer iRobot "share a final attribute: an almost breathtaking disregard for the trustbusters, particularly the head of the US Federal Trade Commission, Lina Khan," writes Bloomberg's Brad Stone. The deals also reflect Amazon's desire for a "fourth pillar" to accompany its AWS, Prime and Marketplace businesses, Stone writes.
Full Story: Bloomberg (8/8) 
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Operations and Technology
Wing, Amazon, UPS Flight Forward, Matternet, Flytrex and Zipline are working to deliver items including medications and food by drone, with some further along in the process than others. Alphabet-owned Wing is notable for its two new drone prototypes based on its original Hummingbird design, which combines capabilities of airplanes and helicopters.
Full Story: Logistics Viewpoints (8/10) 
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Cybersecurity must become a "core strategic priority"
(Pixabay)
Nearly 1 in 10 companies report hourly attacks on the cybersecurity front, "yet most lack readiness in response, which is not at par with the growing sophistication of the attackers," per this World Economic Forum paper. The authors conclude that involvement at the board and senior management levels is vital and that cybersecurity must be considered a "core strategic priority."
Full Story: World Economic Forum (8/9) 
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Sales and Marketing
Using a formal process for sales coaching resulted in a small revenue increase for 500 companies monitored for a Sales Mastery study, but adding technology to the coaching mix added another 6 percentage points on top of that, writes Jim Dickie, a research fellow for Sales Mastery. Technology can free up managers' time through video coaching and offer data on each team member to allow for more targeted coaching, Dickie writes.
Full Story: DestinationCRM (8/8) 
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Business-to-business buyers' behaviors and needs are rapidly changing, so sellers must adapt to fulfill them, implement digital buying systems and processes, and take a sales approach "that is purposefully buyer-centric, consultative, value-focused and outcome-oriented," writes sales consultant Mike Kunkle. "Train sellers on how modern buyers buy, how to do great discovery, how to create compelling business cases and how to problem-solve, guide and support the decision process, versus pushing product," Kunkle recommends.
Full Story: Distribution Strategy Group (8/1) 
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The Business Leader
A culture that is aligned with your brand and emphasizes customer connections will be one that can weather an economic downturn, says Denise Lee Yohn in this video. "And provide visibility to the entire customer journey so your people can determine where to focus your limited resources in the customer experience," Yohn says.
Full Story: SmartBrief/Leadership (8/9) 
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Rapid change can overwhelm your team, writes Lolly Daskal, who offers four steps leaders can use to ease the process, including clearly communicating what's happening, keeping the pace of change reasonable and being empathetic to employee needs. "Try to help your team learn to view change positively, as an opportunity for building and using new skills in the face of high demand," Daskal writes.
Full Story: Lolly Daskal (8/9) 
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The NAW Billion Dollar Company Roundtables are an exclusive community of thought leaders from Billion Dollar distribution enterprises who congregate to network with noncompeting peers in multiple lines of trade on key issues. The companies invited into this community are from distribution firms at or above $1 billion in annual sales. Register today!
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I am most interested in people and the human form. Clothing is the closest thing to all humans.
Issey Miyake,
fashion designer
1938-2022
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