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Analytics-driven operations can deliver staggering profit gains, but it takes a visionary leader who won’t accept a company’s current limited analytical expertise. In this article the author, who will outline these concepts at MDM’s Pricing & Profitability Summit, www.pnp.com, Apr. 15-17, argues that distributors can shift from a revenue-share mindset to a profit-share mindset by zeroing in on three key metrics: gross profit, cost-to-serve and net before compensation. It also outlines how the concepts of line-item profit analytics and quantum costing can create an effective analytics environment. This article is an excerpt from a chapter in A Distributor’s Guide to Analytics, a book published by MDM.
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The MDM Market Snapshot, based on data from MDM Analytics, includes market demand for Pipes, Valves & Fittings in the U.S., plus the top end users by 6-digit NAICS.
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Since the Great Recession of 2008-2009, few publicly-traded companies have undertaken as much change in sales model, technology platform, process improvement and culture as Chicago-based Lawson Products. From 2009 to 2013, Lawson converted all of its sales representatives from a network of independent sales agents to sales employees, today numbering 1,000. MDM last talked with President and CEO Michael DeCata in 2014, who outlined the unique service-focused value proposition and changes taking place at the time. Four years after transitioning its sales model, we check in again for a progress report. In this issue we conclude our conversation with Decata.
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Modern Distribution Management's monthly Industrial Inflation Index measures a cross-section of industrial supplies.
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Distributors that have been successful in recruiting top talent straight out of school say that the key is to develop ongoing relationships that include guest speaking in classes, internship programs and involvement in student organizations. This article examines the challenges, benefits and best practices in recruiting at the college level. It includes comments from distributors that have seen success in this area, including WinWholesale, Womack Machine Supply and Laird Plastics.
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Theres a lot of jargon around all things digital, and I plead guilty on all charges when talking about them digital platforms, omnichannel, cloud, big data ... the more digital we go, the fuzzier the logic we seem to attach to the terminology used to describe it.
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The third annual MDM distribution e-commerce survey found that distributors’ e-commerce revenue as a percent of overall revenue is rising. But while distributors are increasingly using multiple vehicles to drive demand online, they have not yet effectively integrated tools such as marketing automation and paid search into their efforts. This article looks at how distributors approach demand generation online and ways they can improve the weakest links, as revealed by the survey.
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The third annual MDM distribution e-commerce survey conducted with Real Results Marketing revealed several key trends:
This article examines the results of the 2014 State of E-Commerce in Distribution Survey and how the industry’s e-commerce offerings are maturing. Part 2 will look at best practices for distributor e-commerce marketing, data management and operations.
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In late February, Bloomfield, CT-based Kaman announced an agreement to acquire fluid power distributor B.W. Rogers, Akron, OH. Steve Smidler, president of the Kaman Distribution Group, recently spoke with MDM about the reasons for the acquisition and plans for integrating the distributor into Kaman’s business.
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As the face of the workforce shifts, managers need new skills to connect and effectively lead a more diverse employee base. A new book, Flex: The New Playbook for Managing Across Differences, was written to address this need. MDM Editor Lindsay Konzak recently spoke with the book’s co-author Jane Hyun, an executive coach and global leadership adviser to Fortune 500 firms.
This interview includes Hyun's take on:
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In 2013, Grainger surpassed $3 billion in sales from e-commerce channels, representing a third of total company sales. Paul Miller, vice president of global e-commerce for Grainger, spoke with Editor Lindsay Konzak about Grainger’s approach and plans for e-commerce.
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In this two-page report, available to download in PDF after log-in, we feature a new, expanded quarterly report with data on merger and acquisition trends and financial metrics for the largest publicly traded distributors across diverse sectors.
In partnership with Houlihan Lokey, an investment banking firm, we have added data on M&A activity trends across all industries (not just distribution), as well as valuation multiples for deals in all industries.
Where there are gaps, there are opportunities. MDM’s research on the state of analytics in wholesale distribution identified clear gaps across analytics technology, talent and techniques. This perspective from Publisher Tom Gale talks about why you should think about a strategy and plan for analytics.
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Research conducted by MDM on the adoption and use of analytics by wholesale distribution companies revealed several key trends:
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"Truthiness" describes using intuition or gut feeling to define "truth" without regard to facts, data or even logic. Today, there's a lot of truthiness surrounding big data, market planning and customer relevance.
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Many distributors have struggled with where to invest limited dollars to meet the demands resulting from the rapidly growing role of technology in the industry. This article looks at distributors' current technology challenges and plans, identified by respondents to the 2014 MDM Industry Outlook Survey, sponsored by NetSuite.
More details from the 2014 MDM Industry Outlook will be provided in the upcoming Jan. 16, 2014, webcast, the 2014 Distribution Industry Outlook.
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Building a better supply chain is critical for a successful 2016 Distribution Remodel. This article shows why distributors who havent focused on improving supply chain functions should begin investing resources now in hopes of remaining competitive and avoiding obsolescence.
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Distributors sell more than product. Leveraging data to make money is key.
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The MDM Market Analysis, based on data from MDM Analytics, includes consumption of PVF supplies by end user in the U.S., plus the top end users by 6-digit NAICS.
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For distributors to successfully navigate a challenging landscape they must reinforce their core strengths. This facet of the 2016 Distribution Remodel could entail a number of solutions, from deepening customer engagement to dropping unprofitable customer segments to divesting noncore assets.
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Distributors looking to balance renewed focus on their core with meeting customer demand to provide more are turning to master distributors to achieve that end. This article looks at how the role of master distributors has evolved and the additional roles they now play for traditional distributors.
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Cut through the noise of todays markets with data and analysis
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PwCs quarterly analysis of M&A activity shows trends expected to affect deal volume.
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Modern Distribution Management's monthly Industrial Inflation Index measures a cross-section of industrial supplies.
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The distribution industry is due for a remodel. What has worked for decades still works, but it is far less effective now for businesses that want to grow. MDMs team has identified key areas that distributors need to focus on in 2016 to build the adaptive model that changing market conditions require.
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Distributors that invest wisely in talent, technology or other areas of their business will gain a competitive advantage and market share when economic conditions improve. This article explains why strategic investment is critical and provides tips on where and how to devote resources.
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For business leaders to get better, they must disrupt their own businesses, engage more deeply with employees and continually innovate. This article shows how they can achieve these steps and others on the path to transforming their leadership skills.
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Distributors cant rely on what works today to get them through tomorrow. Being proactive is key to future success.
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The MDM Market Analysis, based on data from MDM Analytics, includes consumption of HVACR supplies by end user in the U.S., plus the top end users by 6-digit NAICS.
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Work with a banking partner that knows your business. Get detailed information on investment banks with expertise in the wholesale distribution industry.
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