STAFDA offers profitability DVD
The Specialty Tools & Fasteners Distributors Association (STAFDA) and the Profit Planning Group (PPG) have teamed up to produce a new DVD on profitability.
Each STAFDA distributor is being sent a free copy of “Profit is Everybody’s Business.”
"Most distributors produce good profits, but not great ones. Companies that produce great profits can afford to pay better salaries and bonuses and provide stronger employee benefits. Without adequate profits, companies simply can’t afford to compensate their employees properly," according to a STAFDA press release.
An ongoing problem among distributors is that top management often is the only group with a strong understanding of how to drive profit higher. For second-tier managers and those at the operations level, understanding can sometimes be modest. Even worse, according to STAFDA and PPG, some of their working knowledge is a product of urban legend or they are just misinformed. Hard-working, dedicated employees often make questionable decisions without realizing it. They want to help, but often hurt.
The DVD has 10 sessions about 10 minutes in length covering key issues in distributor profitability: gross margin, inventory, cost of goods, etc. Ideally, managers will look at the DVD, one session per week, either individually or collectively, upon the desires of management.
A PDF handout to accompany the DVD can be found under the members-only section of STAFDA’s website, www.stafda.org. This is an industry-specific handout that looks at numbers for STAFDA members.
Members may purchase additional DVDs from the STAFDA office.
PPG is STAFDA’s official benchmarking consulting firm that produces the Performance Analysis Report, Employee Compensation Report, and both the Distributor and Rep Profile Reports. Dr. Al Bates, PPG’s president, also writes STAFDA’s quarterly Profit Advisory.
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