From the NAW blog:
It’s no secret that contracts are a great way to secure valuable business for distributors. For many companies, they account for a significant portion of annual revenue and are critical in bringing in key customers. Unfortunately, if they are not managed carefully, contracts can become an area of business where profit leaks or slips through the cracks.
From the NAW Blog
Pricing is one of the most complex day-to-day decisions in any business environment, and the distribution industry is no exception. In fact, pricing is the most critical profitability lever for wholesaler-distributors due to their position in the supply chain, ever-increasing competition, and other business forces like commoditization and globalization.
Don’t miss The Olander Company's free AVK threaded Inserts webinar on January 28. This information-packed webinar takes a deep dive into AVK threaded inserts: design benefits, best industrial applications use cases, and typical concerns around the correct usage of threaded inserts. The webinar wraps up with a discussion on AVK threaded inserts tooling options and tricks for troubleshooting common problems.
Olander is an authorized premium stocking distributor of AVK wire inserts and tools in the US.
From the NAW Blog
2020 has been a tough year for most distribution sales teams. In certain markets — such as janitorial and sanitation, HVAC, home improvement and landscaping — shifting consumption patterns have spurred rapid growth. Customers increasingly engage with suppliers through e-commerce, market platforms such as Amazon and Alibaba, and virtual meeting platforms. These new, emerging buyer and seller engagement models present compelling value and efficiencies that are certain to endure beyond the pandemic.
From the NAW Blog
It has become a universally accepted truth that the coronavirus pandemic has accelerated customer expectations for buying online. Many distributors report a dramatic shift toward customer orders placed on e-commerce platforms. This trend has confirmed what many have said for several years: distributors must invest in modern e-commerce platforms to remain a viable source for meeting customer expectations. But is doing so enough? Is there a more vital lesson that many distributors are missing? Will distribution miss a critical opportunity for locking in unbreakable customer loyalty if they remain blind to the bigger picture?
From the NAW Blog
In our playbook for distributors to SURGE ahead using customer stratification, we outlined ways distributors could segment customers to boost profitability — particularly to mitigate the impacts of the COVID-19 pandemic. We believe it is a foundational analytics practice for any distributor. And its applications in the pursuit of profitable growth are almost endless.
EFC International is pleased to announce the launch of a newly designed website delivering innovative products and solutions providing an unparalleled customer experience. The website provides easy access to an extensive on-line resource for engineered specialty fastening solutions used throughout the world.
“Serving as a platform for EFC’s mission to Redefining The World Of Distribution, the website highlights the EFC Difference -- a combination of Connections, Expert People, Engineering, Quality, Local Support, Global Presence and Logistics, providing customers with an information-rich experience and a comprehensive suite of fastener solutions,” states Matt Dudenhoeffer, president and CEO of EFC International.
From the NAW Blog
One of the most valuable resources distributors have is their data. Data can reveal what your customers are likely to buy, what growth opportunities you’re missing out on and where you can cut costs. Distributors with the right data can meet customer needs and dominate competitors. But acquiring and handling data properly is no easy task.
From the NAW Blog
Last year, I suggested a holiday conversation about the future of distribution as distributor families gather for Thanksgiving. Our idea was that distributors’ sons and daughters, whether they work in distribution or elsewhere, can share vital insights. With the ongoing pandemic, this year’s conversations are even more critical.
SPIROL has a new series of high performance molded-in Inserts for plastic assemblies. The lightweight, lead free Series 63 & 65 inserts are manufactured from 2024 grade aluminum which provides the best combination of strength, corrosion resistance, machinability and cost. They are 40% stronger than brass and 1/3 the weight of the same insert manufactured from brass.
Here is a link for more information about this new insert offering, including links to the inserts specifications as well as to SPIROL'S complete inserts for plastics design guide: https://www.spirol.com/company/news/press_d.php?ID=275
From the U-C Components Blog
Silver plating is a very popular choice for many industries including medical, electronics, telecommunications, automotive, and many more. Silver plating exhibits excellent anti-galling properties, high lubricity, a wide operating temperature range, good corrosion resistance, and exceptional conductivity.
Silver is one of the most common metals used for plating in the medical industry because it boasts a wealth of beneficial qualities plus it is biocompatible and inherently resistant to bacteria. Silver is also extremely ductile which makes it a great choice for shape-memory devices and high precision instruments.
From the NAW Blog
If you’re considering analytics as a means to drive profitable growth in 2021, you’re on the right track. The distribution industry is facing an uncertain market, digital acceleration and a changed landscape. Analytics can help distributors make data-driven decisions to stay on course and be successful.
Congratulations to Anne Salaets, business development manager for The Olander Company, who won this this year's Pac-West Scholarship to the acclaimed Fastener Training Week program.
Fastener Training Week is an intensive version of the acclaimed FTI Certified Fastener Specialist™ advanced technical training program. Instead of seven separate one-day classes, Fastener Training Week consists of five intensive days of education and plant tours. The curriculum includes:
From the NAW Blog
When was the last time you saw an ad for FedEx? Yet their brand remains synonymous with fast shipping. As Peter Drucker says, “The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.”
From the NAW Blog
By adopting a new mindset, distributors have the opportunity to break free of the chains that bind them to meager margins and feeble brands. That mindset is about believing that they can do more than survive. Distributors can dominate!
From the NAW Blog
As modern buyers have embraced self-service (via internet searches, social media and e-commerce platforms) for much of their buyer journey, the need for traditional sellers who provide product information — and even application insights — has dropped radically. Buyers complete 70 percent of their journey before they even engage with sellers. COVID-19 has accelerated the pressures to boost productivity and elevate sales teams’ value-add.
From the NAW Blog
More than ever before, distributors have the opportunity to break free of the chains that bind them to meager margins and feeble brands. But, there is a problem. The prevailing distribution mindset is that the forces of disruption and digital transformation highlight the weaknesses in the distributor's business model. Distribution is threatened, but distributors can do more. The forces of change that are enabling disruption are also available to distributors. Breaking free requires a new mindset: Distributors can dominate!
From the NAW Blog
In recent years, inside sales has emerged as a highly profitable channel for distributors. “When appropriately utilized, inside sales reduces cost-of-sales by 40%–90% relative to field sales, while revenues may be maintained or even grown,” according to the Harvard Business Review. Selling more while spending less sounds great, but it is much easier said than done.
From the Center for Financial, Legal & Tax Planning, Inc.
Over the course of the first half of October, the SBA has released three new guidelines addressing some of the most frequently asked questions regarding PPP loans. For those of you that are unaware, PPP (Paycheck Protection Program) loans were provided to small businesses as a response to the economic losses due to COVID-related shutdowns. PPP borrowers can qualify to have the loans forgiven if the proceeds are used to pay certain eligible costs. On August 8, 2020, the program stopped accepting new applications even though almost $134 billion of congressionally approved funds remained unspent. Now, most businesses are focusing on applying for forgiveness, which is all but guaranteed so long as 60% of the forgiven amount was used for payroll purposes.
From the U-C Components Website
O-rings are most often the primary source of contamination in any vacuum system. Selecting the proper O-ring design and material are essential to maintaining the seal and overall system integrity. Unfortunately, you cannot simply rely on the property values you get for the elastomers when selecting an O-ring for your clean-critical application; vacuum performance of the material can differ strongly from supplier to supplier, as well as batch to batch.
