Industrial distributors and manufacturers are fighting to retain market share and seek growth in a challenging market. Typically, the most profitable strategy to strengthen, deepen and broaden opportunities within existing customers. An effective tool to achieving this is also a time-tested strategy for many Industrial distributors and some manufacturers ... contractor … [Read more...] about Driving Share and Sales with Customer Loyalty Reward Programs
Tips for Industrial Distributors to Improve Gross Margin
Corporate success, for many, is typically defined as sales success as sales revenue is an easily identifiable, and discussed / shared, metric. But in a quest to grow sales, and due to competitive pressures, gross margins for many distributors have eroded making gross profit dollars scarcer for investment back into the business. And with operating costs increasing and … [Read more...] about Tips for Industrial Distributors to Improve Gross Margin
Rebates … The Gift that Keeps on Giving
Editors Note: CMG Trends publishing Electrical Trends (ET) and this article on rebates has been edited and shared with Industrial Trends readers. When you mention rebates to distributors and manufacturers and you’re sure to have an interesting conversation. Manufacturer Views on Rebates Manufacturers question their efficacy in driving incremental sales, express frustration in … [Read more...] about Rebates … The Gift that Keeps on Giving
ChatGPT, AI, Office, Teams and More Technology to Power Your Industrial Business
Within distribution there is a continuous, and increasing, call for distributors, manufacturers, and manufacturer representatives to “invest in technology.” And I would presume that companies are spending more on technology / digitalization than ever before. It may not show up in the IT budget, but marketing, pricing, sales, warehousing, manufacturing and other departments now … [Read more...] about ChatGPT, AI, Office, Teams and More Technology to Power Your Industrial Business
ERP … The Heart of Your Industrial Channel Business
There was a phrase years ago that is attributed to EF Hutton, which was a financial advisory firm that goes “when EF Hutton speaks, people listen.” The inference was that EF Hutton had a wide reach, and somewhat influence. The same goes for Epicor given how integral their Prophet 21 and Eclipse ERP platforms are for many HVACR distributors.So, when Frank Heenan, Global VP of … [Read more...] about ERP … The Heart of Your Industrial Channel Business
The Rep Alignment Dilemma for the Industrial Channel
Whom to support? The rep alignment dilemma ... whom to align with to generate sales? End-users? National chains? Independent supportive distributors? Any distributor who will support the manufacturer? The manufacturer? But, the bottom line becomes, what will generate sales to meet manufacturer expectations? It's complicated, and channel consolidation and channel … [Read more...] about The Rep Alignment Dilemma for the Industrial Channel
The Road to a New ERP System
Deciding on an ERP system is one of the most challenging decisions for an Industrial distributor given its impact on business operations … everything from easy of doing business, ability to integrate with other tools, access to information, cost (acquisition, maintenance, training, productivity) let alone it touches every person who interacts with a company … associates, … [Read more...] about The Road to a New ERP System
10 Tips for Recruiting Talented Candidates for the Industrial Channel
One of the areas where we hear companies are continuously challenged is recruiting quality people that have some experience with the Industrial industry and targeted product categories. It's usually not too difficult to find people with specific skill sets. The challenge is finding people with a combination of the right skill sets. And while recruitment is a challenge in … [Read more...] about 10 Tips for Recruiting Talented Candidates for the Industrial Channel
Driving Industrial Distributor Profitability Through Operational Efficiency
The past year has proven we are back to pre-pandemic industry growth rates and in many cases flat to single digit declines. Maintaining, and improving, net profitability in the face of slowing growth, increased cost structure, and stagnant (if not decreasing) margins, requires improved operational efficiency, inventory management, strategic price management, appropriate … [Read more...] about Driving Industrial Distributor Profitability Through Operational Efficiency
Challenging Convention, Embracing Disruption. Tomorrow’s Marketing Groups?
The past few years the recurring theme at many industry events have used alot of words - Shift, Adapt, Outperform and more. I would say the overiding theme if I hae to put into one single word is disruption. And one of the recent sessions’ I was at the speakers posed the question to consider of “what if?” Earlier this year I presented at a conference of marketing / buying … [Read more...] about Challenging Convention, Embracing Disruption. Tomorrow’s Marketing Groups?
