Revenue growth dipped to 4.2% for the 4th quarter | Gordon Food Service picks 5 companies for accelerator | Applied Industrial Technologies reports fiscal Q2 revenue of $1.06B
Revenue growth slowed in the final quarter of 2022 compared with the first three, according to the Baird-MDM Industrial Distribution Survey of more than 500 executives in the wholesale-distribution industry. The fourth quarter brought 4.2% growth, down sharply from 9.3% growth in the third quarter and less than half the average growth rate for the entire year.
Wyoming-based Gordon Food Service and its Relish Works venture capital subsidiary have selected five startups for the Food Foundry accelerator program. Among the companies in the cohort are Michigan-based FreshPost, which offers temperature-controlled pickup stations for food and beverage deliveries, and North Carolina-based CZero Foods, which provides carbon-neutral fulfillment for consumer packaged goods brands.
Regional shipping companies such as LaserShip/OnTrac and Lone Star Overnight are expanding their operations to capitalize on the momentum gained during the pandemic and to attract shippers employing multicarrier strategies and those concerned about a potential UPS strike. Meanwhile, some businesses are still reluctant to rely on additional carriers due to tracking complexities and perceived brand risks, shippers say.
The challenges facing the food industry during the pandemic have shifted, with inflation, staffing and communication now critical issues. The best response is global standardization and information sharing to keep supply chains working at their best, writes Melanie Nuce of GS1 US.
Smaller distributors have unique advantages that can be used to compete with giant business-to-business e-commerce outfits, writes Bob DeStefano, president of SVM E-Marketing Solutions. DeStefano suggests starting with a quality website, pointing out that major players' sites are "often loaded with an overwhelming and distracting collection of product listings, various offers and supplier advertisements."
Procrastination may be the result of feeling like you don't have a choice, the task doesn't create a sense of connection or you may not feel competent to accomplish it, writes Susan Fowler, who provides a real-time demonstration of how investigating these three areas motivated her to move on a delayed task. "Without optimal motivation, you can't generate the vitality needed to take action," Fowler writes.
Instead of investing in monitoring tools to ensure remote employees work, use that money for initiatives that boost employee morale and engagement and that bolster collaboration and communication, Televerde CEO Chris McGugan writes. "If a company insists on using monitoring tools, leaders must give employees visibility into what is being monitored and how it contributes to their evaluations," McGugan writes.