MRC Global expects to save money by closing more sites | Pandemic Revenue Index up by nearly 7% | Arrow Electronics reports higher Q3 profit, revenue
October 30, 2020
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Top Story
MRC Global will close six additional facilities in the fourth quarter, bringing the total for 2020 to 28 and contributing to over $110 million in savings. The company posted third-quarter operating profit of $14 million and total sales of $585 million, both down from the year-ago period.
Full Story: Industrial Distribution (10/29) 
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Indian River Consulting Group's Pandemic Revenue Index of 12 distributors rose by 6.8% for the week of Oct. 19-23. The companies were split between gains and losses, with one company reporting a 67% year-over-year gain.
Full Story: Indian River Consulting Group (10/28) 
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Arrow Electronics had adjusted earnings of $162.08 million in the third quarter, up from $154.83 million a year earlier. Revenue increased from $7.08 billion to $7.23 billion.
Full Story: RTT News (10/29) 
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How retailers should embrace the new normal
The pandemic has reshaped consumer behaviors and the customer experience, most likely permanently. As we look to 2021, retailers need to focus on planning for the future with strategies that meet both the immediate and long-term needs of their customers and maximize the potential of all their sales channels. Join SmartBrief and retail industry experts to explore how the retail landscape has changed this year and how retailers can succeed in 2021.
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Operations and Technology
Distributors can optimize e-commerce operations by understanding how customers use platforms, addressing technical issues that may hurt user experience and having salespeople market e-commerce sites, writes Dean Mueller of Distribution Strategy Group. E-commerce sites are a core part of operations, "integrating what customers most appreciate about you across all your channels," he writes.
Full Story: Distribution Strategy Group (10/28) 
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Virtually every American is making at least one mistake protecting their data, says author Joseph Steinberg of "Cybersecurity for Dummies." A survey of more than 2,500 adults by Bankrate.com finds four in five people reuse passwords, while the next most common mistake is saving passwords on a phone or computer.
Full Story: Bankrate (10/28) 
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Sales and Marketing
Prevent prospects from falling out of the sales process
(Carlos de Andres/Getty Images)
Salespeople must be proactive about figuring out where they're losing prospects along the sales process, writes Anthony Iannarino. For many salespeople, intermediate conversions are the biggest challenge, as they have difficulty securing a second meeting after a promising initial conversation, Iannarino writes.
Full Story: The Sales Blog (10/24) 
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The Business Leader
Long-term thinking, being good at recruiting and firing liars are just a few of the lessons that Curriculum Associates CEO Rob Waldron has learned in 12 years on the job. "A culture of grace, respect, and realistic expectations will result in the highest performance from employees long-term," he writes.
Full Story: Real Leaders (10/27) 
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NAW Insider
Read NAW Chairman's Column: "Finding the Opportunity in Transitions"
(NAW)
NAW 2020 Chairman of the Board Doug York of Ewing Irrigation & Landscape Supply posted a new Chairman's Column titled, "Finding the Opportunity in Transitions." In it, he talks about looking at the next few months as an opportunity for transitions for wholesaler-distributors in many circumstances after we've all experienced one of the most tumultuous and unplanned years on record. Read his Chairman's Column.
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"How Technology Will Transform Wholesale Distribution" - 7 reports and 7 webinars in 7 months
(NAW)
Are you ready for the technology that is transforming distribution? With the influx of new competitors and new technologies, changes are happening at warp speed. In this NAW series of seven research reports and seven accompanying webinars in seven months, distribution expert Ian Heller will help you to gain the intelligence you need to formulate new strategies and ensure that your company thrives through this era of technology transformation. You've got seven months, so let's get started. Sponsors include Unilog, SAP, Conexiom, Mirakl and PROS.
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COVID-19 brings company collections strategies to the forefront
(NAW)
Commercial collections has been thrust into the spotlight for many industries. Whether employing internal or external collection strategies, or a combination of both, businesses are re-evaluating their approach. Attend live webinars designed by NAW Trusted Partner Creditsafe to give you the best options, insights, and assistance as your company adjusts to the new collections landscape.
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