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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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.
This is the third article in a three-part series for distributors to improve long-term financial performance. Part one addressed steps to create an appraisal of your firms current financial position. Part two tackled profit improvement variables and key mistakes distributors make.
Known as VICKIE, a goal for Vallen Distributions new internal employee resource group is to recruit strong, diverse candidates from both inside and outside of the business who will reach leadership positions within the 3,000-employee company.