John Strong 2014-10-03 00:44:37
Intelligent business Dear Industry Colleagues, In each of my "Letters from ASA President" this year, I have set my focus on one or more areas in which ASA provides benefit to its members. One area I have not yet discussed, and that we can't promote enough, is the abundance of business intelligence and benchmarking reporting available to the ASA membership. This past summer, we conducted a member satisfaction survey through McKenna Design Group, the association's third-party marketing firm. The survey yielded some very enlightening results, which you can read more about in detail in the September ASA News article "We Asked, You Answered," which can be accessed at www.supplyht.com. ASA's Business Intelligence reporting came up as the second-most valuable member benefit among survey respondents. This speaks volumes for the quality of the reporting. One of the most popular reports is the ASA Advisor, which provides a macro-economic analysis of the industry at national and regional levels, as well as a forecast on how the U.S. economy may impact the different industry segments served by ASA members. Industry economist Alan Beaulieu's firm, ITR Economics, puts the report together specifically for ASA to distribute to its membership on a monthly basis. Alan provides an annual supplemental update in the form of a spring webinar and another 18-month forecast update in the fall at NetworkASA. Alan and ITR's industry reporting is extremely accurate (measured at 94.7%). ASA also continues to offer a suite of benchmarking reports that include timely data and relative statistics that are tailored to every participating member. Here's a quick snapshot of each. Operating Performance Report: This annual study helps companies to pinpoint operational strengths and weaknesses relative to the most applicable industry demographics for a given wholesaler. Monthly Pulse Report: This survey and report provides ASA members with regular snapshots of industry performance for sales, inventories, gross margin and YTD profitability relative to the broader economy. Materials Market Digest: Each month, this report offers ASA members the most current and qualified market data and analysis on various materials with comprehensive insight on price-influencing actions. IPD commodity reports: Each quarter, members of ASA's Industrial Piping Division receive an in-depth and comprehensive analysis prepared by industry insiders about select commodities for the industrial and mechanical PVF segment of the industry, including price-influencing actions. Compensation Report: Every two to four years, a detailed comparison of compensation and benefits programs is prepared for ASA members. Confidential business valuation service: Accredited and third-party staff at Industry Insights employ standard valuation methods to accurately and objectively determine the market value of a business for thousands of dollars less than any other provider. Don't just take my word for it. Visitwww.asa. net/Business-Intelligence/Industry-Benchmarks for more information or contact Chris Murin, ASA executive director, at cmurin@asa.Net or 630/467-0000, ext. 204, for more details on any of these valuable reports.
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