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Learn how to leverage technology
to lower costs, gain efficiencies and earn greater profits at the ISA
eBusiness Summit Oct. 16-17, 2007, in St. Paul, MN. The summit is
designed to answer your questions about eBusiness tools such as online
catalogs, radio frequency identification (RFID), electronic data
interchange (EDI) and more! Learn more and register here.
The ISA eBusiness Committee announces availability of the
long-awaited ISA eBusiness Implementation Guideline. Click here for more information.
Production in U.S. mills inched up during July, but
demand was lackluster. Flat-rolled prices were under pressure throughout
the month, and service center sales were the lowest in more than a year.
Despite current conditions, there was a growing consensus that the
buying slowdown has run its course and that steel orders, shipments,
production and prices would all be on the rise in the near future.
Despite the high-tech innovations
that have revolutionized the workplace, the most important business tool
remains the telephone. The goal of this workshop is to teach you how to
provide excellent and professional service through the telephone,
whether the caller is a valued client, a potential customer or an
associate within the organization. Register here for this Webinar. Learn more about this
Webinar here. Mention you are an ISA member when
registering.
This first of a two-part article argues that wholesaler-distributors
need a different approach to strategic planning based on their unique
operating environments. Here's how to frame the process and best
practices for distributor strategic planning. Use the email and password
provided in the ISA Advisor welcome email to access this article. Tap
into other articles like this at Modern Distribution Management's ISA
Research Center.
KEEP READING! Breaking industry news and articles on
distribution trends follow your association news each week in ISA
Advisor. Articles six months and older are available free of charge
to ISA members. Subscription or pay-per-view required for newer content.
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MDM NEWS UPDATE: August 9, 2007
As talk of struggles in parts of the economy grows,
it's important to note that there are ways to turn the potential
downturn into a strategic opportunity, this article from Indian River
Consulting Group says. Some great advice: Commit to sustained and
improved customer service - if you can, avoid cutting staff and reducing
inventory, help customers cut costs and add product lines. It seems
counter-intuitive, but this article makes a strong case for these and
other action items to help you stay ahead of your competitors, even in
tough times.
More...
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When the steel market went crazy
in 2004 and again last year, this master distributor of fasteners was
able to stay on top of costs and keep pricing where it needed to be
relative to the market, thanks to its business platform. "We are able to
monitor and analyze the pricing differences and take immediate action.
If for whatever reason, sales have dropped off on an item, we can
determine why," says HTI's CIO.
"Or if demand is exceptionally high in another area, it may be due to
being under market on price. By correctly setting pricing, you gain
maximum profit margin for your inventory." HTI is also using technology
to better interface with its vendors, customers and logistics providers.
More...
Find more articles like this one in MDM's Technology Best
Practices Special Report. Order
now.
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IndustryWeek reported that 80% of
large and 79% of small manufacturing companies in a National Association
of Manufacturers survey had a positive business outlook for the second
quarter 2007. This is an improvement from the first quarter for both.
Small firms expect to increase sales by 3.9% in the next 12 months;
large suppliers expect to increase sales by 4.5%. All in all, outlooks
are looking up, indicating a manufacturing rebound may be in the works,
even though both large and small firms expect sales growth to be more
moderate in the short term. More...
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Some pluses for manufacturers who
are looking at global sourcing: The labor pool, the level of talent, tax
incentives and customs clearance. Emerging centers of strategic sourcing
are Eastern Europe, Vietnam, South Africa, Botswana, Kenya, Egypt and
Rissa, IndustryWeek says. Timing, however, may be everything.
This article says: "Put down some roots while these regions are still
in the process of building their infrastructure and hammering out tax
issues, regulations and business arrangements. Why? Because that's when
the talent is available and hungry to work for you. As the market
matures and more companies enter, wages will go up and key managers will
start to jump ship. And the nature of global sourcing will take a
different turn." More...
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It's important to have a system
to identify unhappy customers, according to this article in Construction
Equipment Distribution Magazine. But few distributors do. Either they
are afraid of what they will find out or they just don't have the time
and resources to do so effectively.
Outsourcing the job is one option. Some firms offer to do the surveys
and data analysis for you. "It's just another way that a customer can
contact you," one distributor told the magazine. "It's another touch
with your customer. And you're not waiting to discover a problem until
60 or 90 days later when the customer hasn't paid their bill." More...
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The Federal Reserve this week
kept benchmark interest rates unchanged at 5.25%, saying inflation
remained its main concern despite tightening credit markets. Volatile
food and energy costs, Reuters reported, have improved in recent months,
however. Still a tight labor market could push inflation higher.
Reuters reported: "Financial markets have been volatile in recent
weeks, credit conditions have become tighter for some households and
businesses, and the housing correction is ongoing. Nevertheless, the
economy seems likely to continue to expand at a moderate pace over
coming quarters, supported by solid growth in employment and incomes and
a robust global economy," the Fed said. More...
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Most Popular Stories at mdm.com
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