Detached workers are also less productive and more likely to miss work.
Posts By Angela Poulson
CEO: Shift is part of ITW's increasing focus on organic growth.
Distributors face many kinds of risk, including product liability claims, economic uncertainty, employee injuries, natural disasters and supply chain disruptions. By identifying potential scenarios, and ranking and planning for each of them, risk can be reduced and managed, Vernon Grose, author of Managing Risk: Systematic Loss Prevention for Executives and founder of Omega Systems Group Inc., tells Staff Writer Angela Poulson. Grose is a former member of the National Transportation Safety Board and a risk management aviation expert who has applied lessons from that work to help businesses and organizations.
This article includes:
- Advice on how distributors should approach risk in their businesses
- Details on the SMART (Systems Methodology Applied to Risk Termination) technique for managing risk
- The importance of ranking risk
- Common elements of risk that are often overlooked
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- Data Security Risks Grow
- Disaster Plans: 'No Single Point of Failure'
- MDM Interview: Why Analytics is About People, Not IT
CEO: Several factors including competitive pricing pressure drove the decline.
McKinsey: One 'imperative' to prepare for the shift will be sales force optimization.
CEO: Company underinvested in supporting vending in 2013.
Adam Fein addresses ACA and other factors impacting the drug distribution channel.
Fastenal is largely credited with driving the latest boom in industrial vending services among distributors. Fastenal had nearly 30,000 vending machines installed as of the end of the second quarter 2013, and while it recently backed off on its goal of 30,000 new vending machines this year, it continues to expand its program, called FAST Solutions, at a quick clip. Fastenal’s vending program has grown much faster than the competition’s.
This article is part of MDM’s series on the industrial vending market.
Staff Writer Angela Poulson spoke with Fastenal CEO Will Oberton about:
- The impetus for Fastenal’s vending program
- Why Fastenal backed off its aggressive goal for 2013
- What's next for Fastenal's vending program
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- Industrial Vending: A Runway for Growth
- Distributors Get Smarter About Vending
- The Counterfeit Challenge
Purchase the full MDM Special Report, The Industrial Vending Boom, in the MDM Store in PDF format.
In his book Islands of Profit in a Sea of Red Ink, MIT Senior Lecturer Jonathan Byrnes says that most of a distributor’s customers are unprofitable while a few are so profitable that they more than subsidize those losses. In the recent MDM Webcast, How to Secure and Grow Your Islands of Profit Customers, Byrnes shares new tips for identifying and growing business with your most profitable customers and replicating that success with new customers.
This article includes:
- A look at how profitability has changed in distribution
- What is negatively impacting profitability in today's market
- How to identify & overcome the challenges to profitability
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- Don't Be Everything to Everyone
- 5 Building Blocks for Managing Profit
- Four Barriers to Distributor Profitability
A summary of key distribution deals and what they mean in September 2013.
Economic reports, employment checks and small business loans may be affected.
Forty-seven percent of executives in North America cited it as a top risk.
CFO: Weather and weaker-than-expected markets cut sales by $110 million.
Association says results should be a warning to promptly resolve the crisis.
United Stationers report has broad implications for online distributors.
Owners personal funds may be more at risk than they realize.
Changes in company coverage reducing number of plans exempt from ACA provisions.
But expectations for increasing the number of Gen Y in manufacturing remains low.
Companies looking to evade the growing cost of defending product liability suits are pushing liability up the supply chain. This article examines factors affecting distributor liability and includes tips from legal and liability insurance professionals on reducing risk.
This article includes:
- How the focus of liability has shifted
- Why the risk has increased for distributors
- How distributors can offset some of the risk of liability
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- The Counterfeit Challenge
- Private Label Carries Legal Risks
- Global Markets Are Not Just for Large Companies Anymore
A synopsis of construction spending trends and forecast for the second half.
