News and Trends

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Graybar CEO oversees record profit in 2006
Graybar Electric Company Inc., an electrical products wholesaler-distributor, had an impressive 2006, as its annual report will reflect when it comes out in March. And as one newspaper said, the company's success has to do with "gambles" on the part of CEO Robert A. Reynolds Jr., including the implementation of an ERP system. As NAW's 2006 chairman of the board, he recently spoke at NAW's Executive Summit on the subject of hiring and maintaining top employees. TED Magazine (2/14)

• For more: Visit NAW's Web site to read Robert A. Reynolds Jr.'s full speech.

Wal-Mart's RFID effort stalls amid lack of savings
Wal-Mart Stores' push of radio-activated tags on suppliers has hit a standstill, as tests show RFID technology hasn't led to savings. Wal-Mart has installed the RFID technology at five distribution centers, although original plans were to install the technology at up to 12 by January 2006. The Wall Street Journal (2/15)

Private labeling's popularity grows among W-Ds
Private labeling has become a key sales component to wholesaler-distributors offering value-added products to clients, and more W-Ds are expected to get in the private label game within the next few years, a Pembroke Consulting survey found. Motivations for W-D's to do so include "the profitability the distributor can bring to his own business," said Pembroke Consulting President and NAW Institute for Distribution Excellence Fellow Adam J. Fein, Ph.D, and "...the opportunity to strengthen their relationships with customers." Industrial Distribution (2/1)

• To buy: Copies of Facing the Forces of Change®: Lead the Way in the Supply Chain are available here.

Tech Data launches newest SBU, updates existing ones
Tech Data Corp. has unveiled its Printing Solutions specialized business unit, which will concentrate on assisting printer resellers grow their sales with high-margin additions including ink and toner. The computer products wholesaler-distributor has also reworked some of its other SBUs in order to offer better solutions. eChannelLine Canada (2/12)

Best Practices

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Tips for inventory management
To effectively manage your inventory, only make and purchase what you can sell, keep on hand only what you need and get rid of stock that's outdated or worthless. Inbound Logistics (1/2007)

Get a handle on e-mail newsletters
Company e-newsletters should be used as a communication tool for your customers and not confused with a promotion. They should help build company-client loyalty, so ensure that the header is personalized, unsubscribing isn't impossible and sign-ups are readily available. MarketingProfs (free registration) (2/13)

Sales

When to encourage, when to let go
If a sales rep is not performing or meeting sales targets, managers should first evaluate their expectations. What is expected of a rep should be clearly defined, so he or she can set identifiable goals. However, managers have to bear in mind that no amount of training, evaluating or goal-setting will make a rep sell if the desire isn't there in the first place. CEO Strategist (2/14)

Small Business Manager

Avoid over-spending on technology
Only buy what you know you need, research what fits into your budget and use every free-trial available to keep technology costs down during the startup phase. A good IT consultant can also be a boon. AllBusiness.com (2/14)

Executive Life

What makes a restaurant romantic?
A truly romantic restaurant experience is all about privacy, explains restaurant consultant Peter Neptune. Elegant recommendations from "Top Chef" participants range from The Beacon restaurant in Sag Harbor, N.Y., to L.A.'s La Boheme. But the February issue of Conde Naste Traveler notes that dining in a bathing suit at the beachfront restaurants on its Caribbean list isn't so bad, either. Pittsburgh Post-Gazette/Associated Press (2/13) MSNBC/ForbesTraveler (2/13)

Top GPS picks for under $500
The popularity of in-car GPS units has reduced market prices, with many quality units being offered for less than $500. Garmin's StreetPilot i3, TomTom's One and Navman's F20 represent quality choices in this budget-friendly market, according to CNET. San Francisco Chronicle/CNET (2/12)

NAW Insider

Prevent Driver Slips and Falls

Slip-and-fall accidents are a significant factor in driver injuries, causing approximately 22% of injuries to drivers. Next to motor vehicle collisions, driver slips and falls are the most expensive type of driver accident. Learn some tips from The Hartford to help drivers protect themselves from slips and falls.

Try Remote Deposit Capture risk free for 30 days

Securely deposit paper checks from the convenience and safety of your office. NAW has negotiated group discounts and a risk free 30-day trial offer for Remote Deposit Capture technology through Solveras Payment Systems. Visit the NAW/Solveras Web site to watch a short video clip of checks being scanned, deposited and digitally archived, or call 800-613-0148 today.

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