Many things have changed this past year… some business ideas were scrapped, some items came to light, other things were put off and then aspects like the need to implement ERP software or business management systems were accelerated.
Since Covid-19, the distribution sector has seen a shift as well. E-commerce and a move towards digital transformation to assist in streamlining operational processes such as inventory, warehouse- and supply chain management. It’s important to keep track of industry related trends to keep up with the competition and to move with the times. Herewith some key trends for distributors that is worth taking note of:
Technology has assisted in changing the service offering of distributors. This means the likes of wholesale distributors, for example, can offer a similar customer experience to that of major online retailers. Think expanded availability of products and services, more flexibility, access to a larger customer base than only those who might be aware of your physical store, virtual orders completed at any time, more digital and modern platforms to do business on and much more. Many distributors have already made that transition and others have realised the need for it this past year.
Innovations in supply chain management provides distributors, resellers and wholesalers with more effective ways to manage, track, deliver and plan. More automated processes are critical in reducing operational costs, increases productivity and efficiencies and drives data analysis forward for more informed decisions.
Inventory management systems has evolved to allow distributors more real-time visibility into warehouse stock levels or on-the-move merchandise. This has many benefits, including being able to provide better customer service with access to more updated information.
Moving goods from suppliers or manufacturers to customers or end users, can prove a complex process. Up to date industry specific distribution management software goes a long way in managing this complicated process. All of your operational functions can be fully integrated as well, meaning the right software can help you manage all of your operational functions from one place which provides an improved view across the business rather than of individual areas within the business.