INDUSTRIAL DISTRIBUTION: FINGHTING BACK AGAINST A DEEP RECESSION
Industrial Distribution’s editor, Jack Keough, offers some insight into their 63rd Annual Survey of Distributor Operations, “Distributors have taken a series of steps to deal with dwindling sales but still are not optimistic about 2009, says ID’s 63rd Annual Survey of Distributor Operations.” Check out the article to learn more.
Industrial Distribution Excerpt:
Distributors are fighting back against the deep recession by taking a series of extraordinary steps to reduce costs and maintain profitability, but overall they’re still pessimistic about the economy for the remainder of the year, according to Industrial Distribution’s 63rd Annual Survey of Distributor Operations.
In fact, the survey shows that some smaller distributors are increasingly worried about their ability to survive due to cash flow problems, customers cutting back on purchases, expanding national contract agreements and the continuing downturn in the automotive/aerospace sectors.
“This has just been a brutal nine months for our company,” one survey respondent said, noting that his company’s sales are down more than 40 percent.
In May, nearly 400 distributors responded to the survey, in which ID sought to determine the latest trends in the industrial and construction sectors.