Fastenal announced its goal of reaching net-zero emissions by 2050 last year, and the distributor has released its first environmental, social and governance report. The company plans to develop long-term sustainability and social goals, expand its reporting with additional frameworks, put more effort into communicating its efforts to employees and customers, and use events to increase community engagement, according to the report.

Nearly 90% of executives say supply chain disruption is the biggest risk to business growth, particularly in the wake of higher costs for raw materials and energy, according to a recent survey from information technology company Capgemini. Some 43% of companies plan to increase their investment in the supply chain, while 39% of companies plan to increase spending on technology to improve analytics and cybersecurity and make faster decisions, the survey found.

Unlike retail customers, distributor customers tend not to buy online, using websites to window-shop instead. This means distributors should not use a return on investment model meant for retail e-commerce, writes Distribution Strategy Group's Ian Heller, who advises distributors to research how to bolster customer experience through digital tools, then "[d]esign your site to drive sales through all your channels, not just through the shopping cart."

Price volatility is a major concern for 2023, so organizations should make sure their sourcing strategies allow for real-time visibility across the supply chain and facilitate communication across all areas of the business, Alex Zhong of supply chain software company GEP writes. "Enabling the move from a linear supply chain to an interconnected, multidimensional supply network that's resilient, secure, and agile is also critical, as being able to collaborate with the entire supplier ecosystem is crucial for the supply chain of the future," Zhong writes.

The Global Supply Chain Pressure Index has barely eased since peaking in 2021, largely because of the Russia-Ukraine war and a surge of COVID-19 cases in China. Some firms aim to build essential products, particularly semiconductors, closer to home, while others seek dual sourcing to reduce exposure if one supplier runs into difficulties.

Business-to-business buyers are increasingly doing their own research before making a purchase, and strong marketing and an optimized website can help sellers engage buyers in the early stages, writes Johan Liljeros, general manager and advisor at Avensia. As a prospective buyer gets closer to making a decision, learning as much as possible about their needs "will allow you to tailor a sales pitch to speak on precisely as to how your business will be able to help them should the opportunity arise," Liljeros writes.

Managing perceived value over price can be tricky, but sales teams need to master this skill before making initial contact with a prospective client, Alec Drake, president of Drake Media Group, writes. "People do not like to be wrong, so move to their perception side and find out what they think, how they feel, and what motivates them," Drake writes.

Teams are more effective when they have emotionally intelligent leaders who know how to identify and regulate their own emotions, build respectful relationships and be empathetic to the needs of others, writes David Burkus. "Leaders high in empathy are better able to coach their team members and provide constructive feedback because they understand how team members will respond to that feedback," Burkus adds.

If you want to be a great public speaker, talk to yourself to get a sense of your voice and cadence, bring in friends to help you improve, and study what you admire about other speakers and how to implement their strategies, writes Robin Stombler, president of Auburn Health Strategies. "Good public speakers often have knowledge, passion and confidence in the matter they discuss -- even if they aren't 'perfect' speakers," Stombler writes.