TD Synnex saw a boost in top-line revenue growth after completing the merger of Tech Data and Synnex, and CEO Rich Hume said finishing up work around the integration is a key priority for the distributor this year. Continued investment in cloud analytics, cybersecurity and hyperscale infrastructure are also on the company's list of things to focus on in 2023, Hume said.
The business-to-business e-commerce market grew 19% between 2021 and 2022 and accounted for 13% of all manufacturing and distribution sales last year, while e-procurement sales rose 18% year over year to more than $1 trillion, according to Digital Commerce 360's 2023 B2B E-commerce Market Report. A report from Amazon Business found that 91% of business buyers prefer to make purchases online and 47% of procurement managers expect to increase their procurement budgets in 2023.
Supply chain issues are becoming less prominent, particularly among importers of finished products. Freight rates are falling to 2019 levels, and congestion is disappearing, but manufacturers are still experiencing shortages of parts, stalling productivity.
Hiring the right salespeople is critical to a company's success, and putting a hiring system in place can help determine which candidates are right for the job, writes Mike Kunkle, vice president of sales effectiveness services at SPARXiQ. "Research shows that a combination of effective selection methods always outperforms any single method," writes Kunkle, who lays out a sample hiring process that includes deciding on a sourcing strategy for recruiting, holding interviews and analyzing the results of multiple interviewers.
Business-to-business marketers can reinvigorate strategies by regularly reviewing their unique value proposition and target audience, advises Green Apple Strategy's Samantha Owens Pyle. Experiment with a couple of innovative tactics each year, monitor competitors and get the most from content by repurposing it into other formats, Owens Pyle writes.
Charred train cars sit near railroad tracks on Feb. 14, 2023 in East Palestine, Ohio. (Angelo Merendino/Getty Images)
The National Transportation Safety Board and Federal Railroad Administrations are taking a deeper look into the Feb. 3 Norfolk Southern train derailment in Ohio, but stronger regulations and fines are also needed for high-hazard flammable trains, said Transportation Secretary Pete Buttigieg. The freight rail company and others like it have "spent millions of dollars in the courts and lobbying members of Congress to oppose common-sense safety regulations, stopping some entirely and reducing the scope of others," said Buttigieg.
Turn down requests effectively by thanking the person for asking, then either requesting more time to consider your reply or giving a gentle but firm "no" and offering some action you feel you can do, writes Shari Harley. If the request is a nonstarter from the beginning, politely decline without explanation because people "aren't interested in why we can or can't do something; they just want to know if we will do it," Harley writes.
Antonio Carrillo, CEO of Arcosa, says he finds his comfort zone by visiting the company's plants, but leaders must be able to stretch themselves and endure discomfort, but also know when they need to take a break. "You're going to be faced with so many new challenges, and if you're not self-aware, you will keep going back to your safe place to figure out how to deal with them," Carrillo says.