Major distributors' sales are reason for optimism | Wakefern begins 2nd season of company podcast | M. Holland looks toward the future of automotive trends
Grainger, Fastenal, Genuine Parts' Motion unit and WESCO all posted solid sales growth in the second quarter, suggesting that the overall economic outlook remains strong, writes Industrial Distribution's Jack Keough. Amazon Business' strong performance is another positive sign, Keough writes.
Wakefern recently launched the second season of its podcast, which began last year to help mark the company's 75th anniversary. Guests "include leaders of our organization as well as guests from the food industry," and more shows are possible, communications leader and podcast producer Marla Camins said.
The automotive industry is shifting toward electric vehicles while recovering from supply chain disruption, and M. Holland is innovating and working with new suppliers to help meet the evolving needs of both established equipment manufacturers and new players, said executive Dwight Morgan. "It is a totally different world today," with many companies seeking products that support lightweighting, sustainability and other trends, said Morgan.
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Distributors can effectively manage inventory levels during supply chain disruptions and slowdowns by analyzing SKU movement data, overlaying that with sales data on top customers and compiling and analyzing lost data, writes John Gunderson, senior leader at Dorn Group. In addition, "[i]f demand slows, make quick adjustments to your inventory cost basis as needed," Gunderson advises.
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Sales managers should wait a few beats before rushing to fill a newly empty team slot, first analyzing exactly what's needed in the job and then asking several pointed questions, Stephanie Downs of The Center for Sales Strategy recommends. Downs walks managers through prioritizing three key areas before tackling the selection process, which includes a sales talent assessment.
Sales and customer service are intertwining to create "a seamless journey for the customer," and the two departments must work together to achieve maximum success, according to Harvard Business School professor Frank Cespedes, author of "Sales Management That Works: How To Sell in a World That Never Stops Changing." Because customers often research a purchase long before talking to a salesperson, leaders should ensure that everyone is equipped with the best information to aid with the original sale, service and upselling.
Using humor in your business presentations can alleviate the potential boredom of dense data and keep your audience engaged, writes Jim Anderson. "We can create humor with our audience simply by taking the time to interact with them during our speech," Anderson writes.
The best leaders are those who always seek to learn more from their customers and their employees so they can develop both their teamwork skills and knowledge on how to handle conflicts and challenges, writes Kevin Kehoe, co-founder of Aspire Software. "Developing teamwork is especially important for young companies as roles are often blurred, systems are absent and deep relationships have yet to be established," Kehoe writes.
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