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News from the Construction Suppliers Association

June 12, 2019

Fix Collections Now or Be Prepared to Repeat the Past (and the Past Isn't Pretty)

Jim Moody PhotoBy Jim Moody, CAE
CSA President

Remember back in 2008 or 2009, when you had written off a ton of sales because your customers wouldn’t or couldn’t pay you? Remember how you said you’d never, ever, ever put yourself in that position again?

Guess what? Many of you are back in that position.

How do I know? Well, I get the opportunity to talk to a lot of dealers. Plus, I have some data to back it up. On average, dealers in our Building Materials Operation Comparison had more than 10 percent of A/R that was 90 days (or more) out at the end of 2018. That’s 2 percent higher than at the end of 2017. The amount and the trend are red flags.

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Pest Control is Key for a Healthy Workplace

By Victor Shell
CSA Director of Safety & Transportation

I heard from one of our members recently that an employee had been bitten by a snake during the work day. I don’t know what kind of snake it was and everything turned out okay, but it’s a strong reminder that controlling pests is an important job, especially during warm, summer months.

Vermin and pests are never invited guests in the work environment, but they do creep in from time to time. They can negatively affect a workplace simply by being there. So what can you do?

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Summer Heat Can Kill -- You Can Help Prevent Heat-Related Illness

Everyone working outside during the summer is at risk for heat-related illness. The Centers for Disease Control and Prevention website has lots of information about recognizing heat stroke (and other heat-related conditions) and what to do if you or one of your employees is affected.

People suffer heat-related illness when the body’s temperature control system is overloaded. The body normally cools itself by sweating. But under some conditions, sweating just isn’t enough.

In such cases, a person’s body temperature rises rapidly. Very high body temperatures may damage the brain or other vital organs. Several factors affect the body’s ability to cool itself during extremely hot weather. When the humidity is high, sweat will not evaporate as quickly, preventing the body from releasing heat quickly.

So what can you do if someone exhibits signs of heat stroke?

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The Dos and Don'ts of Extending Credit to Customers

By Marco Carbajo
AllBusiness.com

As business owners, we strive to make it as easy as possible for our customers to purchase our products or services. Most of us accept credit cards and many of us also extend credit terms as a way to increase sales and build loyalty.

While extending a credit term by as little as 30 or 60 days is just like offering an unsecured loan, it’s a risk most of us are willing to take. We’re simply providing goods or services in return for a promise to pay.

But as many business owners have learned during tough economic times, promises are easily broken. So before you decide to extend credit to your customers, review this checklist.

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Accounts Receivable Management: 13 Tips and Tricks to Get You Paid

By Meredith Wood
Funding|Gates.com

Ever wish you could just snap your fingers and start getting your late paying customers paying on time? Dream of your delinquent accounts miraculously mailing you in a check?

Sadly there is no (yet) discovered magic that can help make sure your invoices turn into cash, but diligent accounts receivable management can surely do the trick. Believe it or not, accounts receivable management is not as complicated as it seems.It’s about being specific, consistent and staying on top of those accounts.

The more systematic you make it for yourself, the easier it will be. Use our “Lucky 13” cheat sheet and follow these simple steps to make sure your accounts receivable management is set up like a pro.

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Want More Innovation in the Workplace? Make It Safe to Tell the Truth

By Shari Hartley, Founder
Candid Culture

You’ve either seen the video or heard about the group think that happened before NASA’s Challenger exploded in 1986. One engineer felt strongly that there was a defect in the Challenger’s design. He spoke up, others disagreed. He continued to speak up, until it became very uncomfortable to do so.

Most employees don’t even get that far. If it’s not okay to express different opinions, your organization will deliver the same-old products and services you always have. If staying the same works in your industry, great. But stagnation is a killer to most organizations.

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Construction Suppliers Association

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