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MHEDA 2017 Critical Impact Factors (CIF)

 

Material handling professionals must be prepared to address the factors impacting their organizations today and in the coming year. MHEDA’s Board of Directors develops Critical Impact Factors each year and MHEDA creates programming and services around these trends and challenges. Members are encouraged to share and discuss these factors with key managers to develop their own organizational goals and action steps.

The 2017 Critical Impact Factors were defined by MHEDA’s Executive Committee.  They are defined as “critical” in that they are significant challenges or opportunities that have recently emerged or become pervasive and should be considered as members develop their internal business plans.

If you have any questions or comments about this process or what is listed below, please contact the MHEDA office

 


2017 Critical Impact Factors 

1

Companies continue to face significant challenges recruiting employees which is contributing to wage inflation and the need to develop more creative and unique ways to recruit and retain employees.

2

Members must be prepared to modify their internal structure and sales process to meet the demands of multi-generational buyers and new purchasing trends.

3

Industrial truck distributors must have a strategy for the growing customer demands to manage fleets and operators using telematics solutions. 

4

Members must embrace data mining techniques and predictive analytics to increase revenues, cut costs, improve customer relationships, enhance the sales process and reduce risks.

5

Customers are increasingly pursuing automation and members must be positioned to provide solutions.  

6

Members need to be vigilant about protecting against cyber threats and the security of data. 

7

The Federal Reserve forecasts economic growth to remain in the 2% range over the long run. It’s imperative to improve business processes, leverage new technologies and effectively manage expenses. 

8

Consolidation is accelerating at both the supplier and distributor level which is causing realignment of the channel and territorial conflicts.  This consolidation is also putting pressure on smaller distributors to remain competitive. 

9

Companies are still challenged by succession planning and members need to evaluate all exit and transition strategies. 

10

Members must have a strategy to address the impact of 3rd party fleet management firms.

11

Current laws regarding minimum wage and other employee benefits threaten to create a negative effect on member companies.

12

There is continued escalation of health care costs and medical insurance premiums as well as uncertainty about future legislation.  Companies should review their plan design and consider implementing proactive strategies such as wellness programs to mitigate these rising costs. 

13

There are increasing requirements for permitting, contractor licensing and safety, burdening the distributor.  Members must have a clear understanding of these requirements and recognize both the risks and opportunities. 

14

Members must create a culture that recognizes and blends generational differences.  It is imperative to understand the millennial’s desire for corporate consciousness and how this will impact their willingness to stay in place long term.

Click here to view the 2016 Critical Impact Factors