Earlier this month, Hammond Power Solutions shared a press release that reinforced the need for distributors to heed the advice offered from pricing expert Scott Sinning to build strong pricing system methodology to allow for ongoing price changes. As Scott […]
Distributors, one thing is certain this year, in a year of uncertainty. Your margins are under attack! The complexity of tariffs ensures that there will be lost margin as well as lost opportunity to improve margin. Yes, a bold statement, […]
It appears the initial tariff volleys have ended and we’re in for trench warfare for the next 60-90 days while deals get negotiated. The Eastern front will remain volatile given neither party will whisper “uncle” given that China is launching […]
When tariffs were announced in February, we cautioned that the best strategy for distributors was to focus on their processes so that they could facilitate passing through the price increases. Part of our guidance was to automate implementation of price […]
There are some tariffs we know (China, imported steel and aluminum) and then those (at least at the time of this writing) that are proposed (Canada / Mexico) and then others that are “floated” for consideration, or at least media […]
There’s much talk, and some movement, on AI for distributors. Progressive, albeit larger, distributors are discussing and seeking opportunities to embrace, or test, AI in different aspects of their business. Some have stepped their toe in. Larger companies are dedicating […]
AI has been all the rage since ChatGPT was unveiled. Not only is it the talk of every conversation relating to technology, price management, operational improvement, customer service, marketing and more, but it has also powered the construction market with […]
Feedback from distributors at the NAED Eastern and the NAED Western forbode a challenging 2024. The vast majority are expecting “flat” or nominal organic growth. Trends I observed from those expecting “more” are one’s that are in the Southeast or […]
Were 2021 and 2022 the heyday of distributor profitability? Remember the times when suppliers had price increases and distributors benefited from higher gross margin dollars being generated for nominal incremental effort (aside from customers asking for material)? Remember, a 20% […]
SPAs, or special pricing agreements, have been generating much attention in the industry in the past year. A number of technology companies have descended upon the electrical industry to “enhance / improve” the SPA management process, all in the name […]
