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Which Multi-Trillion Dollar Opportunity Should You Pursue?

From the NAW Blog

Digital marketplaces were a major theme at the recent NAW Executive Summit, and for good reason; B2B marketplaces are predicted to be a $3.6 trillion boon for distributors in the next few years. This new opportunity is certainly good for distributors, but it does make action even harder. How can AI, e-commerce and marketplaces all be multi-trillion dollar opportunities? Further, which one should distributors pursue first?

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Distributors Are Innovating, But Are Manufacturers Paying Attention?

From the NAW Blog

Distributors are a strategic go-to-market asset for manufacturers and many are stepping up to reinvent the traditional distribution business model for the digital age. My recent conversations with manufacturers indicate that many suppliers have not noticed and very few have actively engaged with even their most influential distributor partners. The partnership between distributors and manufacturers remains as crucial as ever, but it will die without proactive collaboration around emerging innovation opportunities.

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Sherex Launches New Hand Tool Calibration Unit

Sherex Fastening Solutions, a global leader in engineered fasteners, tooling, and automation, is excited to announce the release of its Hand Tool Calibration Unit.

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4 Ways AI Can Grow Business During COVID-19

From the NAW Blog

The United States is entering a new phase of crisis management. For the first time in weeks, restrictions are easing instead of intensifying. The economy is reopening. And for distributors, that means the biggest changes are yet to come.

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Fastener Fair USA Postponed to March 2021

After careful consideration and due to the escalation of COVID-19 in the United States, Reed Exhibitions has announced May 8, 2020 that the next edition of Fastener Fair USA will now take place March 23-25, 2021 at the Huntington Convention Center in Cleveland, Ohio.

Initially optimistic that the event could be held in late July, as the pandemic has continued to escalate and the challenges it has brought to the industry, it is clear that July is no longer a viable option.

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Stress Testing and Strategic Cost Reduction During the Pandemic

From the NAW Blog

We’ve been tracking weekly sales in our Pandemic Revenue Index, in which distributors are reporting double-digit declines week over week. A lot of distribution companies have been handling the COVID-19 crisis moment to moment, with barely a chance to catch their breath.

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Offering Virtual Over Human Services Is a False Choice

From the NAW Blog

As distributors imagine business after the COVID-19 pandemic, there is a growing consensus that the crisis will lock in a trend toward customer preferences for virtual experiences. While a sustained shift in buying habits is very likely, that outcome does not reflect the full impact on the future of business. Yes, social distancing has forced remote working and online ordering. However, the crisis also reveals that we are all members of cherished communities, and the path forward is about people working with people to solve problems.

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EFC International Announces Expansion with New Warehouse and Office in Chicago

EFC International, a supplier of engineered fasteners, continues to expand. They are moving their Chicago branch office and warehouse to a new 64,000 square foot facility at 4150 Chandler Drive, Hanover Park, Illinois.

Thomas Mansholt, vice president of operations states, “Our move enables EFC to enhance our service level by providing additional stocking programs with increased inventory space to meet both customer and supplier needs. With 4,200 pallet locations, 26-foot clear height ceilings, and a circular flow from receiving to inventory to shipping, we can ship product more efficiently and the facility allows for growth. The increased number of dock doors provides efficient flow for containers to be loaded for export, supporting customers for all EFC Global locations. This is another sign of our commitment to Redefine The World Of Distribution.”

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Risk Prediction and Mitigation Are the New Normal

From the NAW Blog

The hard truth about the Coronavirus is that extreme, unexpected events are becoming an essential new requirement of effective supply chain planning. In the current crisis, distributors are doing the crucial work of delivering critical products to essential businesses. As the virus peaks, distributors will play a leading role in rebooting our economy. As industries recover, a new normal will set it. It will be one where customers judge supply chain performance not only on efficiency, but on the ability to predict and mitigate risk.

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Unbundle and Rebuild Your Sales Force

From the NAW Blog

Many distributors are reporting that the Coronavirus crisis is leading to an increase in online ordering and virtual interactions with their customer service reps and inside salespeople. As this trend takes root, it may shift customer interactions away from a distributor’s field salespeople. As a result, salespeople may be defensive or uncomfortable. However, if customer behaviors are changing, there is a huge opportunity for your sales force around creating new value for customers.

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Distributors Must Lead to the New Normal

From the NAW Blog

The conduct of business will change as the Coronavirus crisis recedes, but it’s too early to know the new normal with certainty. Just as first reporting in any emergency often proves to be inaccurate and wrong, so too may early predictions about a new normal for doing business miss the mark.

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Empower Your First-Line Managers to Survive a Crisis

From the NAW Blog

The defining characteristic of a crisis is uncertainty. First-line managers are a powerful force for surviving a crisis, but only if leaders help them embrace a new role. Every employee wonders how long the crisis will last, which work is most important and if their job is secure. Leaders don’t have all the answers, and employees know it. The role of first-line managers shifts from directing activities that drive performance to gathering ideas that may help the company survive.

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How to Improve Digital Sales During Coronavirus

From the NAW Blog

Coronavirus has thoroughly disrupted the sales processes for distributors. Not only have customer demands changed, but the process of selling has also been transformed. Social distancing has forced an accelerated digitization upon distributors. Suddenly, businesses that relied heavily on personal interactions and skilled outside sales reps are unarmed. Meanwhile, inside sales, customer service and e-commerce have become key channels. In this post, I’ll explain how distributors can accelerate the digitization of their sales channels to meet the demands of this new market.

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Don Nowak is NFDA's 2020 Fastener Professional of the Year

The National Fastener Distributors Association’s is pleased to announce the 2020 recipient of its Fastener Professional of the Year award is Don Nowak of Falcon Fastening Solutions (Charlotte, North Carolina).

The Fastener Professional of the Year award was created by NFDA to honor individuals and companies that make a substantial positive impact on people’s lives. The inaugural award in 2017 was presented to Robbie Gilchrist of Capital Marketing (High Point, North Carolina). In 2018 Jim Ruetz of AIS (Franksville, Wisconsin) was honored and in 2019 Kevin Queenin of Specialty Bolt & Screw, Inc. (Agawam, Massachusetts) received the award.

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How Will You Win by Being Human?

From the NAW Blog

“Technology is capable of doing great things. But it doesn’t want to do great things. It doesn’t want anything. That part takes all of us.” — Tim Cook, CEO, Apple

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Fastener Fair France Returns May 27-28, 2020

FASTENER FAIR FRANCE
THE SECOND EDITION SHOWCASING RECENT INDUSTRY INNOVATIONS AND TRENDS IS JUST AROUND THE CORNER

On 27 and 28 May 2020, industrial fastener and fixing professionals will converge on Fastener Fair France for a second edition packed full of innovations and trends. This international exhibition is the only one in France devoted to fastener and fixing technologies.

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How to Succeed in a Customer-Driven Digital Value Chain

From the NAW Blog

Are you ready to participate in a digital value chain driven by customer demands for the virtual ordering of products and services, which provides for instant transparency and ever-increasing benefits while at the same time lowering costs?

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EFC International Expands Product Line With Air Filter Hardware Components

EFC International is pleased to announce the addition of air filter clips and specialty air filter fasteners, manufactured by Springfield Spring & Stamping, to their product line.

Springfield Spring & Stamping is a manufacturer of standard and custom air filter holding frame clips in the United States. The product line is complementary to EFC’s current HVACR product offerings including wire routing components, caps, plugs, clamps, rivet-nuts, panel fasteners, specialty nuts, bolts and screws.

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Winning in a Post-Amazon World

From the NAW Blog

Many distributors think they need to look like Amazon to compete in today’s market. After all, more than 197 million people visit Amazon every month to shop the more than 12 million products available, according to BigCommerce. But just because Amazon is a household name doesn’t mean that distributors need to emulate its every move to be competitive in the digital distribution game.

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Kimball Midwest Recognized for Robust Training Programs

From Industrial Distribution Magazine

The MRO products distributor has been named to Training Magazine's list of 125 companies honored for employer-sponsored training and development.

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