MDM News Digest 4718
News briefs from September 11 - September 25, 2017
September 25, 2017
Millennials in Distribution: Culture Trumps Everything
Being intentional about culture can help with recruiting and retaining millennials, who today compose nearly half the company. This article examines the decision by Durham, NC-based ACR Supply, where nearly half the company is comprised of millennials, 20 years ago to focus on culture and how it evolved into a place where the next generation wanted to work.
This article includes:
- Building culture in leadership’s image
- Seeking ‘hungry, humble, smart’ employees
- Making your workplace millennial-friendly
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Not a subscriber? Subscribe below or learn more. Subscribers also have access to the following related articles:
- Distribution M&A Playbook, pt. 3: Integration Best Practices
- Grainger’s Pricing Initiative, pt 2: The Quest for Optimization
- Commentary: Harvey’s Stark Reminder on Disaster Planning
Commentary: Best Practices for Recruiting Millennials
Now that distribution’s next recruiting targets have begun their senior year of college, it’s time to ask if your company is doing enough to ensure they’ll come work for you upon graduating in the spring. This article introduces our new series of case studies on best practices to attract younger workers to your company – rather than your competitors.
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Not a subscriber? Subscribe below or learn more. Subscribers also have access to the following related articles:
- Distribution M&A Playbook, pt. 3: Integration Best Practices
- Grainger’s Pricing Initiative, pt 2: The Quest for Optimization
- Commentary: Harvey’s Stark Reminder on Disaster Planning
3 Questions About Pricing Disruption
Online giants continue to disrupt distribution, making effective pricing strategy more important than ever. In the recent MDM Webcast, What Distributors Need to Know about Pricing Disruption, Brent Grover, managing partner of Evergreen Consulting LLC, discussed how distributors can improve their approach to pricing in order to survive disruption.
This article includes:
- Implementing your pricing strategy
- Communicating your service strategy
- Keeping the barbarians from crossing your moat
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Not a subscriber? Subscribe below or learn more. Subscribers also have access to the following related articles:
- Distribution M&A Playbook, pt. 3: Integration Best Practices
- Grainger’s Pricing Initiative, pt 2: The Quest for Optimization
- Commentary: Harvey’s Stark Reminder on Disaster Planning
Endgame Strategy: A Must for Distributors
Selling your business can be a difficult decision, but for owners who dont have an obvious successor, it can be the best option to preserve their legacy. In this article, an excerpt from Mergers and Acquisitions for Distributors: Expert Advice for Buyers and Sellers, available from NAW, Evergreen Consultings Brent Grover provides expert insight into this consideration.
This article includes:
- Selling as an Exit Strategy
- Thinking Beyond Family Succession
- Monitoring the Value of the Business
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Not a subscriber? Subscribe below or learn more. Subscribers also have access to the following related articles:
- Distribution M&A Playbook, pt. 3: Integration Best Practices
- Grainger’s Pricing Initiative, pt 2: The Quest for Optimization
- Commentary: Harvey’s Stark Reminder on Disaster Planning
MDM Industrial Inflation Index: August 2017
Modern Distribution Management's monthly Industrial Inflation Index measures a cross-section of industrial supplies.
This index includes:
- Abrasives Products
- Cutting Tools
- Power Transmission Equipment
- Fasteners
- Valves, etc.
- Power Tools
- Material Handling Equipment
- Belting
- Hand Tools
- Misc. Metal
Subscribers should log-in below to read this article.
Not a subscriber? Subscribe below or learn more. Subscribers also have access to the following related articles:
- Distribution M&A Playbook, pt. 3: Integration Best Practices
- Grainger’s Pricing Initiative, pt 2: The Quest for Optimization
- Commentary: Harvey’s Stark Reminder on Disaster Planning
Monthly Wholesale Trade Data: July 2017
Sales and inventories data for wholesaler-distributors in July 2017
Download this Issue in PDF: September 25, 2017
This is the PDF of this issue of Modern Distribution Management.
Table of Contents:
- Millennials in Distribution Case Study: Culture Trumps Everything
- Commentary: Best Practices for Recruiting Millennials
- 3 Questions About Pricing Disruption
- Endgame Strategy: A Must for Distributors
- MDM Industrial Inflation Index: August 2017
- MDM News Digest 4717
Monthly Wholesale Trade Data: July 2017
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ABB to Acquire GE Industrial Solutions
GE Industrial Solutions will be integrated into ABBs Electrification Products division.
Chicago Fed National Activity Index Decreased in August
The index's three-month moving average, CFNAI-MA3, was unchanged during the month.
Survey: Optimism Wanes as Year Marches On
Political turmoil, international strife drive U.S. CFO optimism down.
NN Inc. Relocates Headquarters to NC
The move positions NN Inc. closer to its customer base.
ISA Economic Indicators Increase for Distributors, Manufacturers
Growth accelerated for ISA members in August.
Genuine Parts Co. to Acquire Alliance Automotive Group
The acquisition expands Genuine Parts Company's reach into European markets.
