Bruce Merrifield, President — Merrifield Consulting
•competitive strategy •profit analytics •distribution management best practices •APIC Conference •profit training •whale curves •marketing practices •big data •opinion / commentary •distribution industry trends •leadership training •distribution industry associations
Wednesday, January 27, 2016—Why is APIC different from all the other events you could attend?
Over the past seven years, the Advanced Profit Innovation Conference (APIC) has grown into a significant industry event. However, odds are that your calendar is already pretty full with trade association and group buying events. You might be thinking, "Do I really have time for another convention?"
In this video, Randy MacLean sits down with Bruce Merrifield to discuss why you should strongly consider making space on your calendar for the next APIC conference.
"People in the distribution industry tend to go a lot of events," Bruce said. "Most of those events have a narrow, important purpose. If you go to a buying group, you're going to meet with your most important vendors and discuss what you can do to improve those relationships. Trade shows offer lots of opportunities to network with new suppliers. But what if you just want to learn about the best practices? To learn about the things that are going to really transform your business so it can be more profitable? That's what APIC is for."
The APIC Conference is different because it's purely educational. It's all about learning how to take your business to the next level. This includes discussions about new profit practices, new tactics for beating competitors, the latest marketing trends, personnel development tips, logistics enhancements, and just how you look at your business. These are all things geared specifically towards driving more profit into your business.
"And all of it is geared towards executives and senior management," Bruce added. "To give you some idea, I'm a long-time faculty member of the University of Industrial Distribution – which is an absolutely great organization – but it's very 101. It's something geared more towards your aspiring branch managers."
"APIC is different because it brings in C-suite people from the top 5% of distribution companies," Bruce said. "You get to hang out with some of the best of the best. You're able to compare notes and brainstorm solutions to your business problems with improvement-minded executives before, during, and after those two days."
We often see entire executive teams come to APIC. It gives them an opportunity to learn the best practices together so they can more easily implement those principles in their companies. These executives have an incredible, almost unparalleled change to engage with experts on the subjects that matter to their businesses.
It's why over the years people have told us repeatedly, and almost universally, that the APIC conference is the best thing that they've ever done and was the best use of their time.
We would really like to invite you to come out and join us so you can see what other distribution executives, some just like yourself, have been so highly praising. To learn more about the APIC Conference, visit www.APICConference.com.
For more information about Bruce Merrifield, visit: www.merrifieldact2.com
The 5 Things Customers Want (brief)
The 1st of 3 lists defining the markers of Distribution companies outpacing their peers.
Beyond Business Intelligence
Randy MacLean explains the differences in business intelligence systems, and how to know what you're getting with each kind.
A Culture of Innovation Starts at the Top
Steve Epner and Randy MacLean discuss topics from Steve's book. In this video: How to Innovate.
Staying Effective in the Changing World of Sales
The top business know not only how to innovate, but where to spot opportunities where innovation will bring the greatest results.
Getting a Deeper Understanding of Costs
Randy MacLean and Bruce Merrifield of WayPoint Analytics discuss different levels of cost analysis, and why deeper analytics can bring much greater benefits.
Optimizing Salesforce Pay Through Deep Data Analysis
Companies are developing more and more sophisticated approaches to sales compensation and here Bruce Merrifield and Randy MacLean examine the trends.
Webinar: Profit-Based Sales Incentives (part 1)
Webinar: Quantum Sales Compensation - How to Create a powerful new kind of sales incentive plan
Using Profit Analytics to Manage Your Sales Force
Use profit analytics to help drive radical profit gains by balancing volume, margin and service costs for every account, doubling and tripling territory profits
Sales Force Specialization
Discussion of how the most successful companies are adopting specialized sales functions, achieving superior results.
9 Steps to More Profitable Relationships
Discussion about a 9-step process aimed at transforming a transactional relationship with an account into a partnership.
Profit Value-Based Customer Segmentation
Randy MacLean and Bruce Merrifield of WayPoint Analytics discuss profit value-based customer segmentation.
The Advantages of Segmentation
A discussion of the benefits of segmentation and how this approach can help distributors achieve far greater levels of profitability.
How to Turn Big Data Into Big Profits!
Top companies like Amazon can leverage big data to predict consumer buying habits. Bruce Merrifield discusses how you can do this too!
Gross Margin Percent: A Poor Indicator of Profitability
Most distributors have naturally occurring, high gross margin percentage accounts and high gross margin percentage (small dollar pick) SKUs.
Protecting Your Core Business
How to identify and protect the accounts at the core of profits.
Triage Customers & Set Priorities to Increase Performance
Randy MacLean and Bruce Merrifield sit down for a talk about the issues and opportunities, tactics and strategies for increasing profit performance.
Discussing the Enterprise Account Selling Model (#3)
Continuance of the Enterprise Account Selling Model video series. Refers to a preceding video. Drawn from Bruce's presentation at APIC on March 1, 2016.
Discussing the Enterprise Account Selling Model (#2)
A continuation of the discussion between Bruce Merrifield and Randy MacLean over Bruce's Enterprise Account Selling Model (part 2).
Discussing the Enterprise Account Selling Model (#1)
Bruce Merrifield and Randy MacLean discuss Bruce's Enterprise Account Selling Model, as presented at APIC on March 1, 2016.
Getting Your Salespeople to Negotiate Smarter
Using the negotiation process to achieve CTS savings, allowing you to offer your customers lower prices while leaving the table with a larger profit.
Looking at a Customer Whale Curve
Customer whale curves are a great opportunity to view the overall picture of your customer profitability and apply appropriate sales models to each
Increase Innovation with a Rule and a Tool
Bruce Merrifield discusses the Wheel of Learning and how this simple tool can catapult you forward with innovative thinking.
The Changing Face of Sales
An in-depth look at some historical limitations to sales compensation, and why those factors no longer apply with the availability of LIPA.
Maximizing Account Potential through Segmentation
Randy MacLean discusses the value and utility of segmenting your customer accounts.
Working on Your Best Accounts
What to do with your top accounts.
Gross Margin Fixation
A fixation on gross margin – without looking at cost-to-serve (CTS) – has blinded countless distributors and limited their ability to achieve profitability.
A WayPoint Client and Whale Curve Success Story
Learn how this distributor was able to massively ramp up its profitability even as it lost many of its customers.
Cost Structures: What Makes for a Good Sale?
Learn why distributors can't simply rely on gross margin when determining whether a sale will add to the bottom line.
Changing Sales Strategy Using LIPA
Randy MacLean talks about the emergence of a new sales strategy.
Why You Should Sweat the Small Deliveries
A discussion on how little extras can sometimes add up to a lot of infrastructure cost in wholesale distribution companies.
How and Why Amazon Drives Change for Catalog Operators
Catalogs still exist, but they have gone online. In this video, Randy MacLean and Bruce Merrifield outline the changing reality of catalog operators.
It's Not Who You Think It Is
Randy MacLean discusses key profitability metrics for QPM.
Why You Should Be Optimizing Inventory
Randy and Bruce explain why it's important to optimize inventory in the same way you optimize personnel and other resources toward the best profit opportunities
A Two Step Strategy for Being Number One in Distribution
In this video, Bruce Merrifield turns the tables on Waypoint President Randy MacLean, and asks Randy to strategize on how to beat the competition.
Using WayPoint's High Volume Account Report to Increase Profit
Randy discusses the benefits of the extraordinarily valuable High Volume Account Report.
How Customer Segmentation Unlocks Hidden Profits
Bruce Merrifield of WayPoint Analytics teaches the importance of customer segmentation and the insights it can offer your distribution company.
The Element of Pricing
It's not necessary to compete with AmazonSupply on pricing when you've got your ordering and delivery systems, fill rates and customer service at a high level.
Quantum Profit Management
Randy MacLean introduces the core principles of QPM and illustrates how it's the most effective way to run a business.
The Benefits of a Cost-to-Serve Math Program
Have you had trouble conveying the importance of CTS to your team? Learn how this course provides an affordable and convenient educational solution.
Making Money by Giving Away Product
Bruce Merrifield and Randy MacLean discuss profit strategies for wholesale distributors that will raise their cost-to-serve and profits.
Webinar: How to Create a Sales Compensation Plan (pt 2)
Webinar: Quantum Sales Compensation Plan Part 2
Webinar: How to Create a Sales Compensation Plan (pt 3)
Webinar: Quantum Sales Compensation: Designing Your Plan
Webinar: How to Create a Sales Compensation Plan (pt 4)
Webinar: Quantum Sales Compensation for the Wholesale Distribution Industry: Launching Your Plan