Mergers and acquisitions among distributors and manufacturers picked up last month after an especially slow April and May, due to concerns over the coronavirus.Â
Latest In COVID-19 (Coronavirus)
During the past few months, lighting distributor Bulbs.com pivoted to a new customer segment yet also leaned on such core beliefs as strong marketing and data to sustain its business during the pandemic. CEO Mike Connors shared some of the companys COVID-19 playbook.
In a recent MDM webcast, Navigating the New Now as a Distributor, Epicors Emma Vas and Mark Jensen discussed key trends that are emerging to help distribution companies thrive. Distributors are finding ways to boost revenue, negotiate supplier relationships, optimize inventory and streamline social distancing.
More than 13,000 health care and 7,000 government organizations have purchased PPE and other supplies through COVID-19 Supplies site on Amazon Business.
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Recent economic reports show upward momentum for the overall U.S. economy and the wholesale distribution industry in particular, but not all data points paint a rosy picture, indicating recovery will be a slog.
Some distributors are updating their price segmentation schemes to ensure they reflect these evolving conditions by overlaying a COVID-19 demand category attribute to complement traditional segmentation schemes.
The 0.3% improvement follows 10 weeks of declines and nine weeks of double-digit declines.
While the COVID-19 pandemic has slowed M&A to a crawl in distribution and most sectors, companies that chose to hunker down rather than innovate during the pandemic could be targeted by savvy strategic and financial buyers once activity resumes.
Distribution leaders that emphasize innovation during this time of uncertainty will be at an advantage when the so-called new normal whatever that looks like has settled in. One area where companies can innovate is by transforming their sales models. The latest MDM Live explains why.
International coronavirus stay-at-home orders have accelerated the imperative for distributors to improve virtual sales tactics. MDMs most-read blogs of May continued to focus on COVID-19 and its long-term effects for the distribution industry, particularly the sales process.
The 11.4% decline represents the smallest decline since mid-March.
When volume compresses, your contract pricing will be under pressure from your end customers. At the same time, you will have to react to many price changes from your manufacturer partners. MDMs John Gunderson says, if you dont have a tracking system built for your CSP/contract prices, it is time to get one in place.
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The index shows eight weeks of double-digit average declines and five consecutive weeks with declines in the mid-teens.
In a recent virtual conversation with a few hundred Texas A&M Industrial Distribution students, the next generation had a lot to say about what changes they see in B2B distribution after the full impact of COVID-19 becomes clear. The future of distribution is moving faster than any of us thought possible, and its looking brighter with the talent coming online.
Revenue declines may be stabilizing.
For employees who are traditionally customer-service oriented, making cold calls requires a different skill set. Eric Chernik, CEO of Building Controls & Solutions, is providing training and tools for all employees, such as customer call lists with outbound call scripts, to grow business during the coronavirus slowdown.
COVID-19 has sped up the digital evolution of the sales department. MDMs John Gunderson explains how to keep your sales people selling with the effective tactics they have picked up during coronavirus distancing, put an end to ineffective practices of the past, and use data to take share from competitors even in a down market.
