A granular approach to forecast adjustment during a period of revenue decline can help distributors better understand demand shift and adjust for variability.
Managers who prioritize strengthening the emotional intelligence skills of their sales team, such as empathy, find customers feel more connected and are more likely to share pain points that lead to purchases.
Distributors are making advances in areas that have long been on the to-do list, such as improved technology adoption, better communication and more streamlined operations
What does the new normal look like in a socially distanced business environment? MDM examines what’s on the horizon for both strategic and financial deals, as well as for prospective buyers and sellers, in a world still dealing with the COVID-19 coronavirus.
Many more industry events are on this year's calendar. The question now is, what will associations do — cancel, postpone, convert to virtual gathering or offer a hybrid of live and digital programming?
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.
The coronavirus accelerated a number of changes in distribution talent management that were already underway, including new evaluation criteria for job candidates and an expanded view of work-from-home productivity.
After 22 years as CEO and 38 years with the company, Derrow will transition to chairman.
All four broad categories of indicators used to construct the index made positive contributions in May, and all four categories increased from April.