100 years of business behind us, the next 100 years in our sights. PICARD, wholesaler of roller bearings and linear motion technology is celebrating its centennial year.

A family business from the beginning, wholesale company PICARD developed from a medium-sized enterprise based in Bochum, Germany, to a hidden champion of the roller bearing and linear technology industry. Founded in 1922, PICARD not only offers its customers a product range of 50,000 items but reliable and flexible logistics solutions, dedicated one-on-one customer advice, and customs clearance services.

We spoke to our Managing Director Hans-Martin Reinhardt about his early days in the business, the sector’s challenges, the benefits of digitalization, and about looking toward the future together with employees of 36 different nationalities.

Hello, Mr. Reinhardt. First of all, congratulations on the company’s centennial anniversary. As the managing director of Friedrich PICARD GmbH & Co. KG, you’re certainly not a newcomer to the company. How long have you been with PICARD?

Thanks very much. That’s true. I found my way to PICARD a long time ago — back in 1984 — when I started my training with the company. Whilst working here, I then completed a part-time course in business administration and marketing for 5 years. Since 2009, I’ve been the managing director of Friedrich PICARD GmbH & Co. KG.

How do you become the managing director of a hidden champion like PICARD?

I don’t think there’s a universal recipe for success. During my training, I learned, above all, the importance of efficient collaboration and goal-oriented company management. And I think that’s what makes PICARD special. We pull together and try to solve problems together — which is how a family-run business can grow into a leading industry specialist.

That’s nice to hear. You mentioned that PICARD is a family business. Can you tell us more about that?

PICARD is now a third-generation family business. People and teamwork are our central priorities. This is very important, especially in our industry, for understanding customer and employee needs and working together to find solutions.

What do you think makes PICARD special?

Definitely the people. I feel we put our corporate values into practice here. We purposefully try to create spaces in which our employees can express and develop their talents. And I think we succeed pretty well at that.

Speaking of the special people in your company’s operations, how do things look in terms of new talent and training?

Training is absolutely essential, especially in our industry. After all, the next generation is, of course, the future of a company. We take on trainees every year and always have our eye out for individuals who are ambitious and dynamic – and who want to grow and develop with us. At the same time, of course, we learn from our young people and their perspectives.

You mentioned that keyword, dynamics. How is the industry changing right now, from your point of view?

Bearing wholesalers like us have to intensively rethink their trading structures, because end-users today often have better know-how than the distributors. To manage and adapt to this change of roles successfully, we have to redefine our industry-specific identities. This includes managing the distributors’ core competencies, as well as the identity of the specialised trade.

Your centennial anniversary slogan is “100 years – 100 ideas ahead.” What exactly does it mean?

It means that, even after 100 years, we’re only at the beginning of our growth as a company. We’re currently in an era of drastic change – of digital transformation and unprecedented market transparency. If we don’t move with the times now, PICARD will, at some point, no longer exist. Yet, we aim to be in the marketplace for another hundred years.

What are some of the goals you have for your company?

Our long-term aim is to become an indispensable link between the manufacturers and the specialised technical trade. Securing our supply of goods and sustainably meeting our roller bearing requirements are also two of our main goals. As you can see, there’s still plenty to do.

Let’s talk briefly about the coronavirus years. What impact has the COVID pandemic had on your operations, in particular with respect to digitalization?

Especially in remote-transaction businesses like ours, digitalization has been a real asset. Digital distribution channels are now very important and improve our business enormously. Our goal is to digitally map even more business processes. In other words, a lot has been happening.

What about remote work and the home office? Have there been changes there, as well?

Oh, yes. We’ve learned a lot in these areas and aligned ourselves with universal, inter-industry standards. We’ve made some things possible that were perhaps not that prevalent before. On the other hand, we’ve been experiencing a certain lack of ongoing social connection with our home-office colleagues. After these many months of being distanced from each other, we all need to come together a bit again. We also see this as one of our key tasks for the future: to maintain our team culture even without daily direct contact and to create a common space of action and collaboration.

You just mentioned your company’s employee culture. Your team comes from 36 different countries and advises customers in 19 languages. Is that also a key to taking the company further in the future?

Yes. We actually have nearly 300 employees from 36 nations who speak altogether 24 languages, 19 of which in sales and thus also in the course of direct customer contact. I think this is a key to success for any trading company: the willingness to open up to all cultures and languages and to create a common denominator. It’s precisely this cultural diversity that generates a lot of potential for the future, and that can help us to become an indispensable logistics provider for roller bearings across Europe and perhaps even around the world. So, here’s to the next hundred years.