Avnet looks forward to 2009
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| Roy Vallee |
As seen in CRN UK -- Avnet chief executive Roy Vallee is feeling confident for 2009, despite the looming clouds of recession over the industry.
Speaking to CRN, Vallee said the global distributor has shrewdly been “improving its return on capital” and concentrating on its credit rating, rather than falling into the credit trap, which stands it in good stead to emerge even stronger from the other side of the storm.
“All the while people were asking us why we were doing that, and ‘who cares about credit rating?’” he said. “But now is the time that access to the credit market is key.”
“Broadly speaking, distribution has done pretty well,” he added. “There has been more attention paid to the right financial metrics and the inventory management processes are as good as they have been. Companies are being much better managed. Overall we as an industry have come a long way.
“Coming into 2009, there will be some players that are either small and don’t have the wherewithal or good access to credit markets, and some that fell into the same trap as the banks. There are many in the channel that have listened to the siren song of credit and have not thought about the consequences or what if,” he said.
He added that the distributor would not be ruling out further acquisition in both developed and developing markets, and would be working with its wide vendor base next year to extend relationships into new geographies and verticals.
Full Story>>
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Avnet helps solution providers fill jobs
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| Phillip Privett |
As seen in The Channel Insider -- Even with the economy struggling and unemployment at a 16-year high, solution providers still say they have trouble filling open jobs. Looking to help fix that problem, one distributor is introducing a recruitment service.
Even as unemployment has reached a 16-year high, solution providers still find it difficult to fill their open jobs – but one distributor is looking to help ease the burden.
Avnet Technology Solutions HP Solutions group is offering a new program designed to help HP solution provider partners recruit qualified talent to fill their open jobs. Avnet's Talent Acquisition Referral Services (TARS) will provide a dedicated team to help partners through all the steps of the recruiting and hiring process, according to Avnet.
"Various partners we have in the market space and our partner advisory council all said this was a problem where they could use Avnet's help," says Phillip Privett, vice president of marketing, HP Solutions with Avnet Technology Solutions. "We built a program where we use Avnet's current talent acquisition infrastructure…We found a lot of our partners were looking for help in this area."
Full Story >>
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Execs discuss economic impact at supply chain conference
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| Ray Sadowski |
As seen in CRN -- The December quarter is typically the busiest for distributors and solution providers as end users empty their IT budgets, often at the last minute. That historical trend makes it difficult to read the current quarter, CFO Ray Sadowski, said.
"Unfortunately, there's not a great amount of visibility. Business is typically back-ended this quarter with 60 percent of business done in December for the quarter. A significant amount of that is done in the last week of the quarter."
Sadowski said that the company anticipates a normal budget flush at the end of the year. "We don't see that changing, talking to the VARs we deal with. Whether that's wishful thinking or not, it's hard to say right now," he said.
Avnet is also looking to cut $105 million in expenses as a means to stabilize profits. But its current plan is predicated on hitting a certain level of business.
"If we are wrong, we will take appropriate action to manage expenses," said Sadowski. The challenge is knowing what's going to happen. At this time, we're hopeful not to have to do anymore [cutting], but we'll do what's necessary to protect the business.
"If it deteriorates 10 percent more than what we're factoring in, we'll take some expenses out but we'll be harder pressed to maintain the margin pressure of fiscal 2008," he said.
Full Story >>
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Latest News Coverage
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MKM, Spain
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