Modern Distribution Management

MDM Premium: May 10, 2019

May 10, 2019: The Race for Digital Innovation

Volume: 49
Edition: 09

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MDM Premium: May 10, 2019

Download this Issue in PDF: May 10, 2019

May 10, 2019
MDM Staff
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This is the PDF of this issue of Modern Distribution Management.

Table of Contents:

  • Ludwig Meister: The Race for Digital Innovation
  • Commentary: 3 Keys to Distribution Digital Success
  • ‘It’s Making Data Actionable That is the Real Payoff’
  • Lay the Groundwork for a Transition
  • Market Snapshot: Saw Blades
  • News Digest 4909

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Ludwig Meister: The Race for Digital Innovation

The distributor strengthened backend automation capabilities before turning to the sales side of the business
May 10, 2019
Thomas P. Gale
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This Munich-based, third-generation distributor of bearings, power transmission, fluid power and tooling products took a non-traditional approach to transforming into a digital distribution business. It started by digitizing and strengthening the automation capabilities of its back-end systems — purchasing, inventory management, logistics — before focusing on the sales side of the business. And it accomplished this transformation by developing its internal technology and development expertise, thus being able to customize and enhance ERP and other critical platforms. One of MDM’s 2019 Digital Innovator Award winners, here’s Ludwig Meister’s story on how the distributor has built a culture of digital innovation.

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‘It’s Making Data Actionable That is the Real Payoff’

Hisco empowers employees to improve customer profitability through data-driven account analysis
May 10, 2019
Elizabeth Galentine
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About seven years ago, Hisco, a leading specialty distributor based in Houston, set out to better understand the company’s profit drivers through a data-based analysis. Developing a successful system has taken years of cultural change and realigning team members’ thought processes around what makes a profitable customer, but the real driver, says President & CEO Bob Dill, continues to be turning the data used to anchor the initiative into real action. Hisco’s relentless pursuit of actionable data makes the nearly 50-year-old employee-owned institution one of MDM’s 2019 Digital Innovator Award winners.

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Lay the Groundwork for a Transition

Make an honest assessment of your business from day one
May 10, 2019
Steve Cosgrove
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Eighty-percent of business owners want to retire in the next 10 years, according to a Business Enterprise Institute survey. Unfortunately, most of those business owners have not actually created a concrete, written plan for their exit strategy. The lack of an exit plan can be problematic. It takes much longer than many distribution owners may expect to prepare their company for a transition. Whether you are planning to sell the business to a third party, pass ownership to the next generation or explore other options, preparing for a transition can take between five and seven years.

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Market Snapshot: Saw Blades

Saw Blades market demand in the U.S. for 2018
May 10, 2019
MDM Staff
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The MDM Market Snapshot, based on data from MDM Analytics, includes market demand for Saw Blades in the U.S., plus the top end users by 6-digit NAICS.

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