MDM’s new report, Markets Forecast, offers quarterly revenue projections for the wholesale distribution industry, plus breakouts for select categories, for the current calendar quarter and the next fiscal year. The inaugural Forecast looks at post-pandemic projections for distributors as a whole, plus specific sectors.
The last few times a customer told you they found a lower price on a product at one of your competitors, how often did you lower your price in response?
MDM’s quarterly survey in partnership with investment banking firm Baird reveals that distributor revenues decelerated sharply in 2Q but not as bad as feared at the beginning of the pandemic shutdown. One consensus among more than 550 participants: Distributors began rethinking the way they manage talent.
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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.
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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.
June 25 2020
Three channels that will feel the biggest impact from WESCO’s June 22 acquisition of Anixter.
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.
Take note of new business practices youd like to preserve as the country opens back up.
The MDM Market Snapshot, based on data from MDM Analytics, includes market demand for Abrasives in the U.S., plus the top end users by 6-digit NAICS.
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Take note of new business practices youd like to preserve as the country opens back up.
The company has more than 1.7 million products in the commercial and industrial space, including medical and healthcare. Beginning in late April, Global Industrial started to pack an R3 Program Guide in with all shipped orders. It is also available at globalindustrial.com/r3.
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.
MDM's top news briefs from News briefs from May 26 - June 10, 2020.
