www.quantumprofitmanagement.com Quantum Profit Management
Increase Innovation with a Rule and a Tool

Bruce Merrifield, President — Merrifield Consulting

•distribution management best practices •management strategies •industry perspective •Distribution Personnel Training and Development •Innovate for the Future •innovation •Bruce Merrifield •management techniquesInnovation, with its uncertain outcomes can be scary. Many companies shy away from major innovation because it's too abstract and feels risky. But, innovation comes in many forms, from common adaptations done by everyone, to disruptive supply chain innovations like Wal-Mart's cross-docking quick response or Amazon's 2-hour Prime delivery.

One way to boost your company innovation IQ is by adopting the Anti-Nitpick Rule and the Wheel of Learning Tool.

Anti-Nitpick Rule

The rule is simple: If anyone offers a question or idea about how to change for the better, no one can nitpick it unless they have a can-do answer for their nit or an alternate change improvement idea. Arguing against change and for the status quo is not an option.

Wheel of Learning Tool

Since people nitpick to preserve their world out of underlying fears, one way to take action is with baby-step change experiments. If the steps are small, low-risk, and inexpensive, then even the most anxious teammates can be comfortable and even courageous.

The Wheel of Learning Tool is a cyclical curiosity tool that starts with questions, which lead to ideas and theories for possible answers. Theories must be then tested with baby-step experiments that reveal new findings. Reflecting on the findings will lead to new questions to start the circle again.

Here's Your Opportunity

I explain the wheel in a short video clip and in a new video course called Cost to Serve Math. The course, which consists of 50 five-minute videos, will give you starter questions to start your own wheel work. This video is an excerpt from Lesson 46 of the course, where I discuss the Wheel of Learning and how this simple tool can catapult you forward with innovative thinking.

The five-minute lesson in full teaches your team:

• Why it's good to have multiple ideas/theories when it comes to solving questions internally

• Why it's good to look at and learn from other channels and industries with similar (but maybe not so obvious) problems

• How to move from theory to action and new learning

Enjoy the excerpt, and I encourage you to consider making the Wheel of Learning an active part of your organization's culture. Also, remember to take a close look at the entire CTS Math course for your company. If you have any questions, contact me or get in touch with Kerri over at iKlarity (Kerri.Laryea@iKlarity.com) to experience the entire course.

Rating: (please tell us what you think)

For more information about Bruce Merrifield, visit: www.merrifieldact2.com

www.APICconference.com

Bruce Merrifield — Merrifield Consulting

Discussing the Enterprise Account Selling Model (#1)

1/17/2018

Bruce Merrifield and Randy MacLean discuss Bruce's Enterprise Account Selling Model, as presented at APIC on March 1, 2016.

Bruce Merrifield — Merrifield Consulting

Triage Customers & Set Priorities to Increase Performance

1/10/2018

Randy MacLean and Bruce Merrifield sit down for a talk about the issues and opportunities, tactics and strategies for increasing profit performance.

Bruce Merrifield — Merrifield Consulting

Getting Your Salespeople to Negotiate Smarter

1/3/2018

Using the negotiation process to achieve CTS savings, allowing you to offer your customers lower prices while leaving the table with a larger profit.

Bruce Merrifield — Merrifield Consulting

Looking at a Customer Whale Curve

12/13/2017

Customer whale curves are a great opportunity to view the overall picture of your customer profitability and apply appropriate sales models to each

Bruce Merrifield — Merrifield Consulting

Gross Margin Percent: A Poor Indicator of Profitability

12/6/2017

Most distributors have naturally occurring, high gross margin percentage accounts and high gross margin percentage (small dollar pick) SKUs.