In the latest Trade News newsletter from the Specialty Tools & Fasteners Distributors Association (STAFDA), Kramer Darragh said the modern baseball classic “Moneyball” has applications for the distribution industry.
The book (later made into a Hollywood movie) by Michael Lewis shows how tracking the data-driven strategies of the Oakland A’s illustrates the importance of breaking through conventional thinking in regard to business metrics. The book inspired a recent meeting of a small peer group -- of which Darragh Co. is a member -- that gets together twice a year to discuss best practices.
“Using “Moneyball” as an inspiration, the members were challenged to share unique metrics that they used in their own operations, Darragh wrote. “Things we had overlooked or had regarded from a different perspective took on a new importance with potential for significant improvement in our businesses.”
For instance, a metric for grading branches and a way to benchmark market penetration were discovered, he said.
STAFDA’s 36th Annual Convention & Trade Show will be held in Orlando, Fla., Nov. 4 to 6.