Distribution

The University of Innovative Distribution (UID) has opened registration for its March 2017 program. IRCG's Mike Marks is a permanent faculty member at UID, and will be presenting four courses.

One distinction stands above all others in separating market-driven distribution companies from the competition: They set internal priorities based on an external, market perspective.

Every distributor says they are different because of their service and their people. But those are not differentiators: They are just the ante to play. If you have both, you get to bid. But if that’s your strategy, you’re going to be stuck competing on price.

If you embark on changes to your sales compensation plan, remember: Communication is key.

IRCG’s Mike Marks wants distributors to be proactive, not reactive, about finding and acting on opportunities. That’s his message in two different recent articles featured on MDM.com.

Distributors are fighting wars on multiple fronts, according to a recent panel moderated by IRCG at the National Association of Electrical Distributors (NAED) annual meeting, and they must respond with a fresh approach to compete effectively.

IRCG’s Mike Marks recently moderated a panel discussion at the 2016 National Association of Electrical Distributors (NAED) annual convention. The topic was "Are You Predator or Prey?" Panelists discussed how distributors are responding to the increasing pace of disruption in the electrical distribution industry.

In which part of the business cycle should distributors invest in analytics? IRCG Managing Partner Mike Marks and PROS Director of Industry Marketing Sean Duclaux addressed this question and more in the recent National Association of Wholesaler-Distributors webinar “Realizing Revenue and Profit Growth for Wholesale Distributors.”

For many distributors, the last price paid is the go-to price. Salespeople know it worked last time, so they use it again. But over the past several years, more distributors have invested in pricing software to help them hit the right price – and not just the lowest or highest – on each transaction.

IRCG Managing Partner Mike Marks joined PROS Director of Industry Marketing Sean Duclaux in a recent National Association of Wholesaler-Distributors webinar, “Realizing Revenue and Profit Growth for Wholesale Distributors.”

The traditional view this industry has taken was that successful field sales reps needed enough confidence to have some skin in the game, and that wanting a higher salary was a red flag. But it’s time to question this old way of thinking.

Industrial distributor Hisco has grown to sales of $265 million by giving its employees true autonomy to meet its customers’ needs at dozens of local branches. Mike Marks, IRCG managing partner, serves on the distributor's Board of Directors. It was recently featured in an article by Forbes.

Don’t be afraid of Amazon; instead find a way to add value to your customers and keep them coming back to you because what you’re offering is in their best interests.

IRCG Partner Mike Emerson’s article on the downsides of using Activity Based Costing (ABC) as the basis for a net profit-driven sales compensation plan is featured in the latest issue of Industrial Distribution magazine.

You’ve put years into growing your business, so you need to find the right answer for the next phase of your business’s life.