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| NAW SmartBrief |
| April 9, 2007 |
The evolving relationship between RFID, logistics
Warehousing logistics currently has a much higher rate of failure, in terms of satisfactorily filling orders, than manufacturing because of human error. RFID technology will be the key to significantly cutting down on incomplete, late or damaged orders. New technologies, such as voice recognition and mobile recognition devices, are being introduced, so now it's a matter of forming business partnerships. Forbes (4/4)
Parker Hannifin to acquire Rayco Technologies
Parker Hannifin has announced plans to purchase Asian elastomer and seal technology provider Rayco Technologies. The company currently employs 500 workers in China and Singapore. Progressive Distributor (4/5)
More executives seek career changes later in life, survey says
A new study by Korn/Ferry International found that more baby boomers in executive positions are changing professions late in their careers. Boredom with retirement and the desire for an intellectual challenge are among the reasons why executives seek new careers, the study said. Separately, according to a report released Monday by the California Budget Project, the proportion of women ages 55 to 69 who were working rose 9.2 percentage points between 1995 and 2006; for men, the increase was 10.6 percentage points. Los Angeles Times (4/3) American City Business Journals/San Jose (3/29)
Other News
Hiring decisions shouldn't be rushed
A new hire should be looked at as an investment in the company, even when there is a pressing need to quickly fill an abandoned position. Taking time in the beginning to search for, interview and effectively train the right person will save time in the long run, because the goal is to hire a person who's both a good and long-lasting fit for the company. Supply House Times magazine (4/2007)
Foggy expectations No. 1 reason why new hires leave
You can decrease your turnover rates by making clear what will be expected of a hire, starting with the very first interview. According to managers, new hires leave for a variety of reasons, including poor communication with their direct supervisor, a lack of belonging or purpose or inability to connect with other employees. "Basically, the individual gets to the job and doesn't have the guidance or the support to learn the ropes, so they flounder, and they quit," said an executive consultant at Novations Group. Society for Human Resource Management (4/2007)
Use the Internet to create buzz
Getting your company's name online, whether through a company Web site or on search engine results, is important. Once you've got that step covered, you should start prompting customers to write reviews about their positive experiences with your business. It is a great (and free) way to build buzz and attract new customers. BusinessWeek.com/Today's Tip blog (4/4)
Top five news stories selected by NAW SmartBrief readers in the past week.
Results based on number of times each story was clicked by readers.
Maximize productivity during start-up phase
Build good time-saving, and therefore money-saving, habits during the beginning phase of your business: Develop a routine of letting your voicemail pick up less-pressing calls and ignoring some e-mails, and your business will be better for it in the long-term. "Don't let time control you. Instead, control how you use it," says USA TODAY small-business columnist Gladys Edmunds. USA TODAY/Small Biz (4/3)
Study: Drinking milk could help smokers quit
Consuming milk, water, fruits and vegetables made cigarettes taste worse, smokers in a Duke University study reported, leading to hope a diet or gum to help smokers quit could be developed. Alcohol, coffee and meat enhanced cigarette taste, according to the study. NBC4/NewsChannel 4 (New York) (4/5)
All cars to have anti-rollover technology by 2012
Electronic stability control, which automatically applies brakes to prevent automobile rollovers, will be a requirement in all cars by the 2012 model year, the government said Thursday. The anti-rollover technology is expected to save up to 9,600 lives once it's deployed, the Transportation Department said. The New York Times/Associated Press (4/6)
Branch managers: Master the 5 fundamentals
What does it take to become a "superstar" manager of a wholesale distribution branch? 5 Fundamentals for the Wholesale Distribution Branch Manager, a book from NAW, advises current and aspiring branch managers on how to succeed and excel through the mastery of five fundamental skills. Blank (4/6)
Rethink salesforce comp plans
What's Your Plan? an eye-opening book from the NAW Institute for Distribution Excellence shows why tinkering with salesforce compensation plans in isolation can create more problems than it solves. The best strategy starts with development of overall company goals and leads to what author Mike Marks calls "alignment" of these goals with compensation. Blank (4/6)
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