We held our annual Distributor Advisory Council Meeting on July 24th and 25th in our Troy, MI, office. Seco reinforced its commitment to work closely with its distributor partners and maintain an open dialog through DAC members. In this respect, one of the key takeaways for all attendees was the need to find a better way to communicate with Seco distributors outside of the Council. The DAC is everyone's voice. Since this meeting, each DAC member has been assigned a network of Seco distributors and will do his best to gather feedback from them. We want to ensure we can get and address the opinions and concerns of most of our distributor partners. From now on, Seco also will meet with DAC members on a quarterly basis to maintain communication.

Seco presented a quick update on the company's main active initiatives. Along with taking necessary steps to correct inventory problems and move many inch products from Europe to the U.S., Seco continues to focus on key strategic areas, including solid tools and engineered solutions, as well as on productivity improvement, virtual leadership and creation of an inside sales program. To address customers from all fronts, stay relevant and develop an “omni-channel” strategy, Seco is considering new consultancy-service offerings. These services could become an ideal way to add value in collaboration with our distributors. We also are adding resources to focus on conversions, developing a conversion matrix for round tools and adding a conversion manager to our Business Development Team to oversee all aspects of the conversion process. DAC members want Seco to work on a new conversion incentive program that would increase overall interest in converting products.

Once again, engagement formed a central topic. Despite Seco’s commitment to improve communication and transparency with its distributor partners, engagement remains lacking. Our sales team is developing new guidelines to improve engagement and better navigate our partnership with distributors in the field.

Everyone in our industry faces similar challenges. Growing platforms such as Amazon add a new dynamic. E-commerce challenges everyone. Finding qualified resources remains a struggle, and Seco and DAC members want to build a pipeline together for our internship program alumni.

From a market perspective, the primary metal index makes us optimistic for 2019. All DAC members echoed this feeling and all envision very positive market conditions for the next 12 months. This outlook and the great discussions we enjoyed during these 2 days with our distributor representatives left all of us at Seco energized and thankful for our distributor partners.