| February 15, 2008 | News for the wholesale distribution industry |
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- Private labels offer profits, pitfalls
Industrial distributors are seeing rapid growth in private-label products. About 57% of private-label products are sourced overseas -- mostly in Asia and Latin America -- and that figure could reach 81% by 2012, says Pembroke Consulting President and NAW Institute for Distribution Excellence Fellow Adam J. Fein, Ph.D. Though the opportunity for higher margins makes private labels attractive, such products often come with hidden costs in warehousing and logistics. Progressive Distributor
(2/1)
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To buy: Copies of "Facing the Forces of Change®: Lead the Way in the Supply Chain" are available here.
- U.S. businesses face similar pressures regardless of location
The shaky real-estate market, globalization and immigration are concerns affecting businesses from coast to coast, one Fortune editor has concluded after hop-scotching the U.S. for a week. A jewelry wholesaler in Cincinnati reflected many of those trends. John Youkilis's business has benefited from a weaker dollar as foreign competitors left the U.S. market, but the war in Iraq and plunging real-estate prices have put the squeeze on many of his customers. CNNmoney.com/Fortune
(2/8)
| Best Practices | | |
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- Make employees' roles as ambassadors more than a slogan
Job candidates become ambassadors for their prospective companies as soon as the interview is scheduled, as they explain to family and friends why they want to work there. Once hired, they continue as ambassadors and that role should be underscored in practice, rather than just used as slogan. CustomerThink
(2/11)
- Append e-mail list to boost marketing efforts
Companies that have the e-mail addresses for fewer than half of their current or prospective customers may want to consider e-mail appending for marketing purposes. E-mail appending services can help with the effort, and one publisher's efforts to append its e-mail offers a good example of the process. MarketingProfs (free registration)
(2/5)
| Sales | | |
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- Train sales manager well to prevent lost productivity
Many a salesperson is promoted to manager based on a strong record, but without the proper training, such promotions can wind up costing an organization. Three factors that are essential in training new managers include: starting the training in a timely manner; making sure the training suits the manager's learning style; and ensuring the trainer is well-suited for training the manager. Manage Smarter
(2/8)
| Small Business Manager | | |
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- Wikis improve collaboration and teamwork, cut costs
Probably the most famous wiki is the online encyclopedia Wikipedia, but wikis are growing in popularity among business operators who see them as a way to force employees to be collaborative with information and save money. Employees create and edit linked Web pages using wiki software that may be easier to maneuver than applications such as Lotus Notes for e-mail, calendars, contact lists and other files. CNNmoney.com/Fortune Small Business
(2/12)
| Executive Life | | |
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- Report: Identity theft fraud cases drop, but concerns remain
Losses related to identify thefts fell 11% last year from about $51 billion in 2006 to $45.3 billion, a Javelin Strategy & Research study released this week says. Many scammers were focused on phone and mail channels as more retailers increased online and in-store security, Javelin reports, but in-store transaction fraud remained the leading mode of theft in 2007. San Diego Union-Tribune/Reuters
(2/11)
| NAW Insider | | |
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Global economy brings new insurance challenges -- are you covered?
Two forces, economic globalization and the shifting of manufacturing facilities overseas, have changed the way many wholesaler-distributors operate. Instead of shipping goods only within the boundaries of the lower 48 states, many today ship globally. Wholesaler-distributors need the ability to protect commodities as they are shipped across international borders. Get more information here.
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Essentials of Profitable Inside Sales in Distribution
This NAW Institute book provides a real-world, in-depth understanding of the expanded role of inside sales. Inside sales personnel are responsible for generating sales and making sure those sales are profitable. This book shows inside sales reps how they contribute to your company's health and well being. Make it as an essential component in your company's training program. Order today!
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