Quite often, I get asked about new trade trends. There ar a ton of exhilarating things happening within the commodity trade however what are the recent trends or capabilities that ought to not be ignored? what's going to set Associate in Nursing association up for achievement within the future?
Let’s take a dive into my top recommendations.
One of the interesting things we tend to see concerning vendee product distributors is that all of them add price to the availability chain in their own distinctive method. Even within a given sector, two distributors could have a totally different approach for adding price to their customers: one could decide that supply potency at rock bottom value is all that matters, and another may focus on location knowledge trends, managing the customer’s inventory assortment and merchandising at the store level.
Each company has to decide what’s vital so as to drive revenue, control prices and then implement specific solutions to focus on those areas.
That being said, mobility and cloud-based solutions ought to not be neglected regardless of the approach and priorities. CPG distributors continue to lag behind in ecommerce capabilities. If they don’t have robust B2B ecommerce and quality solutions in place by 2017 or 2018, they run the risk of becoming obsolete to an outsized and growing base of current and new customers.
Multi-channel management, or the ability to integrate and simplify the client expertise across multiple channels and transactions, is key. With the consumer product customers that we tend to work with at Tribridge, we modify the expertise across: E-commerce, customer portals, distribution center pickup, call centers and brick and mortar stores.
If I had to choose one project that might have the most important monetary impact on a commodity business, it would be the consolidation of ERP systems. We have been operating with larger commodity makers wherever growth has occurred in multiple ways that, but mostly through acquisition, which results in wide-ranging and disparate systems.
Consolidating systems results in key benefits, which ar driving positive monetary impacts:
As technical needs become a lot of intense, retailers should currently look for key attributes in a very commodity partner: