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To analyze the business benefits of VMI, Datalliance looked at the key business metrics of sales, inventory turns, and out of stocks before and after VMI for locations that have been using VMI for two years. Our sample set contained 65 location relationships spread across 12 distributors representing over 20,000 stock keeping units.
All three of the business metrics realized an initial improvement in year one and continued to improve in year two, posting substantial cumulative improvement across all of the metrics for the full two year period.
Read more: Vendor Managed Inventory — Business Results from...
I know most of you think that things are different today than they were few years ago. However, as I look back over 40 years at electrical distributors’ relationships with manufacturers, I’m reminded of an old saying, “The only thing you can count on is change.” Back in the 70s we had national, regional and local independent distributors who had strong relationships with their primary manufactures. In addition, a typical distributor would have 25% of their business in wire and cable, 25% in lighting products, 25% in motor controls, and the remaining 25% in electrical products and accessories. Typically, full line electrical distributors had strong relationships with three to five manufacturers in each these major categories:
Before joining the electrical trade, I had the chance to work with over 20 companies as a management coach. During five years of consulting, I saw some companies that were doing great, some good, others not so good, and a few that were just trying to survive until the next order. Now what is the difference between the ones that were thriving and the ones that were barely surviving (or about to close)?
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Submissions are now being accepted online for the 2014 IES Illumination Awards. The awards provide a unique opportunity for public recognition of professionalism, ingenuity, and originality in lighting design based upon the individual merit of each entry judged against specific criteria.
Read more: Submit Your IES Illumination Award Application Now
Canada generated 48.7 million megawatt hours (MWh) of electricity in October 2013, up 1.1% from the same period in 2012. The increase was led by gains in hydro (+2.1%) and nuclear power (+3.1%) generation. Combined, the two sources represented 78.9% of total power generation. Canadian demand for electricity rose 0.6% to 44.9 million MWh. Exports to the United States rose 11.5% to 4.8 million MWh. Read on for key provincial figures.
Jigsaw’s SPA Control platform is the first contract management system that encompasses the entirety of the SPA management process, from contract setup, administration and auditing SPA rebate claims to measuring contract performance via an impressive array of simple, easy-to-use analysis tools. The web-based platform, which is currently being used by more than 100 electrical distributors, has thus far delivered impressive results with 40% increases in SPA revenues, 12% improvements in SPA profitability and 85% decrease in administrative expenses.
Read more: Company Feature – Canadian Electrical Wholesaler...
There are really only two ways to increase sales: sell to new customers or sell more products to existing customers. Both require that distributor sales management and salespeople effectively evaluate their customers, and identify new opportunities and manufacturers’ salespeople (direct and reps). Marketplace competitiveness requires a back-to-basics sales approach that differentiates you, especially in light of the movement to more e-communications/e-commerce. No longer will “let’s see what today or this week brings” succeed. Planning and applying basic selling skills are the order of the day, so ask yourself these eight questions.
Read more: Sales and Marketing - How Can Joint Sales Calls...
With the advent of the Internet we can now see three distinct forms of sales: retail sales, Internet sales and relational selling. Which form will dominate this century? This will depend on how each form adapts and utilizes parts of the other forms.
Best Practices: Marketing
Everyone is an expert in pricing. It’s either too high or too low based upon your role. Salespeople like it low. Management wants it high. The customer wants it “right” which, usually means “competitive” or “It’s reasonable for the value I am receiving.”
And the term “value” is intriguing as it infers that you understand
• the value that you bring
• the value that your product / service brings
• the competitive landscape (which also includes alternatives and inertia)
But I digress.
Magic Lite Announces New Sales Agent for the GTA
Magic Lite has announced the signing of Lightspec Canada Inc. as their Specification Sales Agent for the GTA.
As the Canadian Division of Lightspec, LLC, NY, this agency is headed by Steve Danzig as President and Neil Whiteford as Sales Manager. This talented sales team has over 150 years combined experience with Lighting Design, Applications, Lighting Controls, Distribution and Project Management. They are committed to bringing attentive service and expertise to their clients for their designs, projects, lighting requirements and acting as their trusted advisor and partner.
4 Ways Industrial Manufacturing Companies Can Recover from COVID-19
By Atul Minocha, Dawn Werry, and Kimberly Miller
When the pandemic first hit, the industrial manufacturing sector was changing daily. Now, at the start of the recovery phase, the whole industry is adapting. Some companies have had to find completely new markets for their products, while others have started making completely new products. Across the board, supply chains have been disrupted. Buyer behaviours have changed and go-to-market strategies have had to adjust in order to keep business moving. Here are four ways industrial manufacturing companies can recover from COVID-19:
Cybersecurity and Electro-Federation Canada
By Gurvinder Chopra
In June 2019, the U.S. grid regulator, NERC, issued a warning that a major hacking group was conducting reconnaissance into the networks of electrical utilities. Just one month later, several major industrial firms announced they had been victims of a state-sponsored hacking campaign.
A year later, hackers targeted over 75 organizations around the world in the manufacturing, media, healthcare, and non-profit sectors, as part of a broad-ranging cyber espionage campaign.
Value of Building Permits Rose 6.2% in June
The $687 million Oakridge Centre mixed use redevelopment project in the city of Vancouver helped raise the total national value of building permits 6.2% to $8.1 billion in June, to a level comparable to pre-COVID levels. Overall, seven provinces reported gains for the month.
Residential permits rise
The total value of residential permits was up 7.0% to $5.3 billion, with gains posted in six provinces. British Columbia posted its third largest value on record for residential permits in June, up 20.4% to $1.3 billion due to large projects such as the Oakridge Centre redevelopment.
Changing Scene
Southwire Launches 2019 Sustainability Report
Southwire has long held a commitment to sustainability, dating back to its first official sustainability report in 2007. Reflecting that commitment, the company recently launched its 2019 sustainability report, prepared in accordance with the Global Reporting Initiative (GRI) Standards, featuring an exciting new goal called Carbon Zero.
The 2019 report highlights all areas of sustainability at Southwire and showcases the company’s most significant impacts by focusing on its five key tenets – Growing Green, Living Well, Giving Back, Doing Right and Building Worth.
CSA Group Appoints Gianluca Arcari as Executive Vice President & Chief Commercial Officer
On May 8, 2020, Gianluca Arcari was appointed Executive Vice President & Chief Commercial Officer at CSA Group, reporting to David Weinstein, President & CEO. In this role, Gianluca will be responsible for growing CSA’s global Testing, Inspection and Certification (TIC) organization. Leading a team of more than 200, Gianluca will guide and develop global commercial market sector strategies across CSA Group’s global business units in Home and Commercial, Industrial and Healthcare.
“Gianluca is widely known and respected for his technical and business skills both within CSA Group and in the global TIC market, making him an excellent choice for this role,” said David Weinstein.
Remembering Robin Billingsley
"It is with heavy hearts that we inform you of the passing of our longtime Marketing Manager, Robin Billingsley," said Beghelli General Manager, Bruno R. Ardito in a heartfelt letter to Beghelli customers.
"Robin had been battling breast cancer for the past few years and on July 23rd, Robin’s battle ended at 40 years young. We have had the pleasure of working with Robin for 13 years and in those 13 years, she executed many of the products and programs we have today. Robin truly represented Beghelli/Beluce ideals, philosophy and vision.
Peers & Profiles
CBC Lighting Steps up in Increased Demand for T-UV Lamps and Ballasts
By Blake Marchand
CBC Lighting has established itself as a premier lighting wholesaler in Canada as well as the U.S. During the pandemic they were able to leverage that expertise to help fill an increased demand for T-UV lamps and ballasts.
Obviously with the global pandemic there has been increased focus on PPE and other sanitary products like hand sanitizer, disinfectant wipes, as well as Ultraviolet light that kills germs. LDS has published several reports from industry organizations that have recently conducted research studies on the effectiveness of T-UV lamps on neutralizing the COVID-19 virus.
Copper $US Dollar price per pound
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