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Traditional Budgeting and Forecasting Don’t Cut It Anymore

Traditional Budgeting and Forecasting Don’t Cut It Anymore

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Avnet Fiscal 2Q Sales Up

Avnet Fiscal 2Q Sales Up

Phoenix-based Avnet, Inc. (Nasdaq: AVT) reported 2022 fiscal second-quarter sales of $5.9 billion, a 25.6% increase over the same period in 2021. Sales for fiscal 2Q last year were $4.7 billion. The electronic components distributor’s most recent fiscal quarter ended Jan. 1. In fiscal 2022 2Q, Farnell operating margins increased 276 basis points sequentially to […]

Avnet 2Q Sales Up 25.6%

Avnet 2Q Sales Up 25.6%

Phoenix-based Avnet, Inc. (Nasdaq: AVT) reported 2022 fiscal second-quarter sales of $5.9 billion, a 25.6% increase over the same period in 2021. Sales for fiscal 2Q last year were $4.7 billion. The electronic components distributor’s most recent fiscal quarter ended Jan. 1. In fiscal 2022 2Q, Farnell operating margins increased 276 basis points sequentially to […]

A&M Industrial Acquires Connecticut Company

A&M Industrial Acquires Connecticut Company

A&M Industrial Inc. of Rahway, New Jersey, has acquired acquired State Industrial Supply Company, an industrial distributor based in Seymour, Connecticut. Financial details of the deal were not disclosed. State Industrial Supply provides state-of-the-art and custom tooling. Its existing location in Seymour will continue to serve the southern New England region, A&M said. “State Industrial […]

Inventory Balance and Supply Chain Insight Elevate as Strategic Assets 

Inventory Balance and Supply Chain Insight Elevate as Strategic Assets 

When the pandemic began almost two years ago, the distribution industry struggled – like every other sector – to adjust overnight. Companies pivoted to adapt to COVID-related shutdowns while rapidly managing inventory to meet then-uncertain demand, says Peggy Carrieres, vice president of global sales enablement and supplier development for global electronic components distributor Avnet, in […]

NEFCO Opens First Maine Location

NEFCO Opens First Maine Location

Hartford, Connecticut-based construction supply company NEFCO has opened its first branch in the state of Maine. The branch is located in the city of Westbrook; it is NEFCO’s first in Maine and 16th branch overall. Deliveries from the location are expected to begin immediately, and the showroom will open in early February, NEFCO said. The […]

Rockwell Automation Names New Regional President

Rockwell Automation Names New Regional President

Rockwell Automation, Inc. (NYSE: ROK), an industrial automation and digital transformation leader, said Gina Ayala Claxton has joined the company as president of the Americas Region, effective immediately. She is expected to report to Rockwell Automation Chief Revenue Officer Scott Genereux. Ayala Claxton succeeds Alejandro Capparelli, who has taken a new role within the company […]

Genuine Parts CFO to Retire

Genuine Parts CFO to Retire

After three decades at Genuine Parts Company, Executive Vice President and Chief Financial Officer Carol Yancey will retire at the end of May, the company said. “On behalf of the entire organization, we want to thank Carol for her 30 years of dedicated service to GPC, including the last nine years as CFO,” said Chairman […]

Kimball Midwest Names New President

Kimball Midwest Names New President

Columbus-based MRO distributor Kimball Midwest says Patrick McCurdy III is the company’s new president. Patrick McCurdy III McCurdy III, a member of the third generation of family ownership, assumed day-to-day management, while his father, CEO Pat McCurdy Jr., retains responsibility for areas including strategy and governance. McCurdy III worked for five years at Accenture before […]

L&W Promotes West Region Business Manager

L&W Promotes West Region Business Manager

Nick Popma has been promoted to the position of business manager, interiors, for L&W Supply’s West Region, the distributor of interior building materials and construction supplies announced. “Nick is a rising star at L&W Supply that inspires others and has clear leadership qualities,” said Chad Cutlip, regional vice president for L&W Supply’s West Region. “As […]