As a distributor, you already know that your business is facing many changes in today’s competitive market. Change is not new, but you may find the speed and magnitude of the changes taking place right now more difficult to manage.
To help you understand and overcome these changes and challenges, our distribution experts have written a white paper you can download and read now: Top 5 Challenges Facing Durable Goods Distributors and How to Overcome Them. Traditional tactics are no longer working. Is it time for a new strategy?
What are the biggest disruptors in the distribution industry?
1. Increasing Digitalization
Evolving technologies such as cloud computing, big data, and enterprise resource planning (ERP) are critical changes occurring in the distribution industry and beyond. Leading organizations are using the latest technology to grow revenue and stay ahead of the competition. Information Technology (IT) is the key to increasing your efficiency and profitability. Successful distributors embrace IT as a means to:
- transform their businesses
- create new capabilities such as inventory management and retail
- optimize customer service
2. Rising Competition
There is more competition than ever, thanks to expanding product lines, geographies, and acquisitions. There are also new distributors in the form of B2C players entering the B2B markets. To top it off, you have to compete with internet-only companies as well as the usual distribution sector consolidation and disintermediation. Our white paper addresses how to use these trends to your advantage by knowing how to target the right products to specific customers using the correct channels.
3. Changing Expectations
Both your customer base and your employees are changing and they have new and higher expectations than ever. Customers demand transparency and a seamless, personalized experience. They will use online community resources to research and review you and your products. They expect to shop online from mobile devices and want access to real-time data such as prices, promotions, and availability.
4. Managing Disruptors
As you are keenly aware, there are many disruptors in the distribution industry spanning business, technology, and government regulations just to name a few. In addition to the competitive threats and changing expectations already discussed, there are many changes happening to the core processes of distributors. For example, some manufacturers are going direct using an eCommerce store presence. How can a distributor not only respond to but also profit from these changes?
5. Fueling Growth
Industry changes cause market shifts. Whenever the market shifts, opportunities are created to solve a new problem or find new customers. The key is to know what your strengths are and to capitalize on them.
How can you use technology as an enabler?
The white paper also explores the features and advantages of Microsoft Dynamics 365 Finance for distributors. This powerfully integrated ERP solution, combined with Western Computer’s distribution apps for Dynamics 365, are designed to take you into the future of digital distribution.
Are you ready to make the fundamental changes needed to compete, grow and win? We are here to help. Enjoy the Top 5 Challenges Facing Durable Goods Distributors and How to Overcome Them and let us know if we can answer any questions for you.
About the AuthorMore Content by Greg Williams