June 2020 - Modern Distribution Management

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June 2020

Supply Source Enterprises

H.I.G. Capital Names President of Newly Acquired SSE

Supply Source Enterprises, Cleveland, Ohio, parent company of The Safety Zone and Impact Products and now a platform of private equity firm H.I.G. Capital, on Tuesday announced that it named Steve Schultz as president and CEO of SSE and a member of the company’s board of directors. Schultz, pictured right, is an experienced B2B manufacturing […]

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S.P. Richards

Genuine Parts Co. Sells S.P. Richards Co.

Genuine Parts Co. (NYSE: GPC), Atlanta, Georgia, announced Tuesday that it has completed the sale of its S.P. Richards operations through two separate transactions. Genuine Parts sold S.P. Richards’ core U.S. operations to an investor group and it sold S.P. Richards’ Supply Source Enterprises business operations — The Safety Zone and Impact Products — to

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Durable Goods - US Census

Advance Report: New Orders for Durable Goods Grew 15.8% in May

New orders for manufactured durable goods in May increased $26.6 billion or 15.8% to $194.4 billion, according to the U.S. Census Bureau. This increase in durable goods orders, up following two consecutive monthly decreases, followed an 18.1% April decrease. Excluding transportation, new orders increased 4%. Excluding defense, new orders increased 15.5%. Transportation equipment, also up

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TTI Inc.

TTI Appoints John Drabik to Vice President

TTI Inc., Fort Worth, Texas, a distributor of electronic components, on Friday announced industry veteran John Drabik will join the company as vice president in early July of this year. Drabik, pictured right, has held senior leadership positions across the industry and most recently held the position of president, Americas Components, Arrow Electronics. Drabik will

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GDP 1Q

First-Quarter U.S. GDP Down 5% According to Third Estimate

Real gross domestic product (GDP) decreased at an annual rate of 5 percent in the first quarter of 2020, according to the “third” estimate released Thursday by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.1 percent. The GDP estimate released Thursday was based on more complete source data than were available

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stock market chart on computer_b&w

IRCG’s Weekly Pandemic Revenue Index Declines Again

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of June 15-19 indicated an 5.7% decrease compared with the same week a year ago.   Source: IRCG.com The index is still showing sales volatility among the distributors participating in the index, though the decline moderated from the previous week. “It appears

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ZSi-Foster Acquires Hydra-Zorb

ZSi-Foster Completes Acquisition of Hydra-Zorb

ZSi-Foster Inc., an Ideal Tridon company, announced Thursday that it has completed the acquisition of Hydra-Zorb Co. Financial terms of the deal were not disclosed. Headquartered in Auburn Hills, Michigan, and founded in 1972, Hydra-Zorb makes pipe, hose and tube clamping for the hydraulic, HVAC, plumbing and refrigeration markets. “The Hydra-Zorb organization is excited to

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Internet business and basket design, blue digital shopping cart on black background

5 Rules for Conducting a Pricing Reset

In the past, distributors would often sacrifice margins to gain market share and drive the topline. However, such tactics negate a strategic pricing process, rendering it nearly nonexistent. Without process, your people must make pricing decisions in a vacuum. As hard as they might try to compensate for and cope with inefficiencies, and as effective as their efforts might be in the short-term, you can’t expect them to sustain healthy margins in the long run.

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Jason Industries logo

Jason Industries Files for Bankruptcy Due to Coronavirus Slowdown

Jason Industries Inc., Milwaukee, Wisconsin, (Nasdaq:JASN) (Nasdaq:JASNW), parent company to a global family of manufacturers in the seating, finishing, automotive acoustics and components markets, on Wednesday filed for Chapter 11 bankruptcy protection in the Southern District of New York. The bankruptcy filing, coupled with a deleveraging of its balance sheet by $250 million, were due

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Kraft Fluid Systems

Kraft Fluid Systems Appoints New Territory Manager

Kraft Fluid Systems Inc., Cleveland, Ohio, on Wednesday appointed Adam Cornell as a new territory manager in Wisconsin. Cornell has been tasked with developing a new Danfoss territory for Kraft Fluid Systems in the northern part of the state. Cornell most recently managed a territory focused on supplying Danfoss products for fluid power distributor Certified

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