| March 28, 2007 | News for the wholesale distribution industry |
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- Parker Hannifin CEO starts new pricing strategy, finds success
Altering an 89-year-old pricing structure is no easy task, but that's what Donald Washkewicz did after taking over as CEO of Parker Hannifin Corp. in 2001. He changed the industrial parts maker's pricing strategy to reflect what buyers were willing to pay rather than what the products cost to produce. The new pricing approach has boosted operating income, the company says, which in turn helped grow Parker's net income from $130 million in 2002 to $673 million last year. The Wall Street Journal
(3/27)
    
- HD Supply's fate still up in the air
The Home Depot Inc. CEO Frank Blake says the company has yet to decide what action will be taken regarding HD Supply, its wholesale distribution division. The home-repair retailer has said it might sell the division, but Blake recently made it clear that this is only one of several options. "The right thing to do in my mind is to see what are the alternatives out there before we start the integration of the business," he said at a retailing conference. Forbes/Associated Press
(3/22)
| Best Practices | | |
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- Encourage employees to take vacation
Vacations and time-off are important for all employees, including executives. Many workers opt to forgo time away from the office, choosing instead to sell back their leave or simply feel guilty about leaving. Encourage employees -- and yourself -- to take earned leave, get away for a while and come back as a better and more refreshed worker. The New York Times
(3/25)
- Apply communications truths to life, business
Effective communication is key in the workplace. Dig deep, actively listen and think before you speak when talking with a co-worker or employee. Taking communications and discussion to another, more thoughtful level will create an open office environment and increase the flow of ideas. DaveKahle.com
(3/20)
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- Create a customer-friendly purchase point
Your selling environment should be customer-centric and make the buyer aware of their need for your product. The building should be well-kept and easily identifiable; the reception area welcoming; and salespeople should be professional, informative and knowledgeable. Supply House Times magazine
(3/2007)
| Distribution Trends Blog | | |
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Measuring the growth gap
Revenues in the wholesale distribution industry were up in 2006. Will the growth continue in 2007? Read the Distribution Trends blog and discuss your thoughts. Distribution Trends
(3/27)
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| Small Business Manager | | |
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- Entrepreneurs should expect little or no pay in beginning
A paycheck might be months or years away for small-business owners and entrepreneurs just getting started. Many entrepreneurs dip into their savings in the beginning and pay off the debt once the business is off the ground. After the business starts to grow, look at expenses, profit, what the job entails and the market value for the job to determine the salary you should pay yourself. The New York Times
(3/22)
| Executive Life | | |
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- Booking site helps hip families
TabletHotels, a Web site that helps travelers book sophisticated hotels, now offers TabletKids. "We kept hearing clients ask, 'We have kids, why can't we stay in a cool place, too?'" said TabletHotels CEO Laurent Vernhes. The New York Times
(3/25)
- Study: Mediterranean diet is good for the heart
A traditional Mediterranean diet that is high in "healthy" fats works as well as the American Heart Association's low-fat diet to promote cardiovascular health and prolong the lives of post-heart attack patients, a study by the University of Washington Medical School found. The findings indirectly raise questions about the benefits of fish-rich diets. The Star-Ledger (Newark, N.J.)
(3/26)
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| The Buzz(CORPORATE ANNOUNCEMENTS)
Sending invoices and collecting payments has long been a challenging process for distribution companies, as distributors send more invoices per dollar of revenue than other industries. Learn how to reduce your costs and optimize your cash flow, by reading this special feature, presented by SmartBrief and Transcepta, Invoices & e-payments: Reduce cost and lower DSO.
Interested in learning more about advertising in NAW SmartBrief? Contact Henry Murphey at (202) 737-5500 ext. 245 or hmurphey@smartbrief.com
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| NAW Insider | | |
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NAW's Large Company Human Resources Networking Conference
NAW's Large Company HR Networking Conference, May 16 to 17, in Chicago, convenes top-level HR executives from wholesale distribution companies with sales of $100 million and above to network and benchmark. Agenda topics are based on responses from the HR community and address specific needs of the group, including ROI of HR, succession planning, recruitment and retention. Get details and register here.
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NAW and The Hartford
NAW has partnered with The Hartford to offer insurance expertise and comprehensive coverage tailored to the specific needs of wholesaler-distributors. The Hartford also offers expedited claims handling services and a countrywide network of loss control and risk management experts to help wholesaler-distributors protect their businesses and minimize loss costs. More information available here.
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Join the Hertz Business Account Program for great savings
Join the Hertz Business Account Program and get up to 20% off on car rentals, additional special offers, an opportunity to earn Free Rental Days and a Complimentary First Year Membership in Hertz #1 Club Gold®. There is no cost to you or your company. For more information and to enroll, visit hertz.com/smallbusiness.
| Weekly Poll | | |
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Do you use e-mail as a sales tool?
After voting once, check out the real-time poll results on NAW's All Access page as often as you'd like.
 | Yes, I frequently use them. |
| I occasionally do. |
| No, I use other sales techniques. |
| SmartQuote | | |
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 | No sale is really complete until the product is worn out, and the customer is satisfied."
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| | Recent NAW SmartBrief Issues:
- Monday, March 26, 2007
- Friday, March 23, 2007
- Wednesday, March 21, 2007
- Monday, March 19, 2007
- Friday, March 16, 2007
| | | Lead Editor: Ashley McMaster
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