Industry consultants Mike Marks and Brent Grover shared accounts of distributors who are acting quickly to adjust their business models to reflect new coronavirus realities during MDMs weekly MDM Live COVID-19 impacts webcast. They described why transparency is paramount in making the most of employee, bank and supplier relationships during the pandemic.
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NAW Chief Government Relations Officer Jade West discusses the industry associations effort to promote distributors as essential businesses and ensure distributors are not cut out of the supply chain, as well as ongoing initiatives such as financial support for distribution businesses with more than 500 employees.
There are several elements of electronic data interchange (EDI) solutions that can minimize the impact of operating in a modified business model during the global coronavirus pandemic. IDEAs Tom Guzik shares three common EDI transactions distributors can use to keep supply chains optimized.
The coronavirus hit distribution hard in the second half of March, according to a first look at the latest MDM-Baird quarterly survey. And distributors are acting quickly to protect the balance sheet and cash flow. Heres a recap of Fridays MDM LIVE program, where panelists shared the latest numbers on how quickly distributor revenue is declining, as well as what distributors are doing now to stem losses and conserve cash.
After initial success through its own website, the Michigan manufacturer first looked to broaden its customer base with a few items on Amazon about five years ago. CEO Jacqueline Canny explains how the e-commerce giant has helped to supplement Ultimations e-commerce expansion and bring in a wider audience for its conveyor technology and automation products.
MDMs most-read content of March focused on the coronavirus pandemic and its impacts on manufacturing and distribution, as well as actions the industry is taking to minimize negative consequences
The conversation during MDMs first live discussion on COVID-19 last week made clear that the next couple of months will be critical for distributors as the coronavirus crisis continues to unfold. MDMs John Gunderson reflects on how the distribution speakers who participated in the conversation are leading their teams during this health crisis.
In this second of our three-part conversation on innovation in distribution, J Schneider of strategy and consulting firm Dorn joins host Tom Gale to discuss what innovation looks like in 2020 for distributors and manufacturers. In this episode, we look at the ways smaller distributors often have an advantage to identify opportunities for innovation, the need to be selective in building manufacturer-distributor partnerships around a shared vision for innovation, and how to build a culture of innovation.
Managing your customers through this COVID-19 crisis to maximize their long-term loyalty and profitability includes several steps, such as incorporating your emerging channel strategies, aligning sales compensation with your priorities, developing product substitution groups and preventing over-ordering.
The worldwide disruption caused by COVID-19 means distributors need to consider both short- and long-term action plans for your inventory and customer pricing programs. MDMs John Gunderson shares actions that are critical to helping your company anticipate customer needs.
A major part of the equation that has built so many incredible ongoing success stories in distribution face-to-face communication and interaction has virtually overnight been removed from the table indefinitely. But the real strength has always been in the depth and quality of our personal relationships, writes MDMs Tom Gale. That won't change.
In a few short weeks coronavirus has dealt another blow to in-person meetings and personal relationship selling. But now is not the time to stop selling, argues MDMs John Gunderson. He frames the importance of continuity in your companys sales process in this time of crisis and thoughts on how to deepen the value those relationships have built over many years.
Based on current market conditions, WESCO expects to fund the entirety of the cash portion of the merger consideration with debt and cash-on-hand at WESCO and Anixter.
Tariffs, commodity price increases and coronavirus COVID-19 are among the concerns causing a high level of supply chain disruption. MDMs John Gunderson and Derek Green share their go-to action items to ease the uncertainty.
The title of MDMs newest award is actually a bit of a misnomer. The Future Leader Award implies the recipients will be leading at some indeterminate time beyond the present. But what we found from all nine of our 2020 honorees is that each is making a tangible impact right now, not only on their company and colleagues but also throughout the wider industry.
From how the threat of coronavirus COVID-19 might influence supply chains to insider insights on getting the most from digital platforms, MDM readers cast a wide net for industry wisdom during the month.
Wholesale distribution, along with arts and entertainment, financial services and retail trade, slowed hiring efforts in January, according to a February report from the CBIZ Small Business Employment Index. Overall, the numbers for companies with 300 or fewer employees showed improvement over December statistics.
Robust PIM solutions can streamline the source of product data and all digital assets, positioning distributors to make the most of your unique value proposition by improving customer engagement, automating operational processes and swiftly executing a new value chain.
WESCO struck a deal to acquire Anixter in January, a transaction estimated at $4.5 billion.