The world has thrown unexpected challenges at the wholesale industry—from pandemics that disrupted all distribution levels to dysfunctional supply chains. While the alarming headlines of today are in the history books of tomorrow, it’s still essential to prepare your teams and operations for long-term success.
Given the sudden changes in recent years, many distributors have had to make tough decisions, from amending their business processes to investing in new technologies. To thrive in the future of wholesale distribution, you must be dynamic, resilient, and efficient.
This means your business must constantly be:
- evolving business strategies to meet emerging needs
- creating effective supply chains that can handle disruptions
- investing in the right people and technologies to drive innovation
With more intense competition, you also need a strategy that is flexible enough to respond quickly to change and minimize risk at the same time.
Three trends deserve attention, in particular:
Trend #1: Adding Workflows
From supply chain disruptions and geopolitical instability to pandemics and dysfunctional workflows, businesses are struggling to keep up with the ever-evolving demands of this competitive industry.
Distributors must prioritize company-wide connectivity and information sharing to stay ahead of the curve. With a business management system that integrates workflows, teams can share data seamlessly across departments, enhancing visibility and increasing business intelligence. This system will help leaders make more informed decisions, strengthening the company’s position in an ever-changing market.
Trend #2: Embracing the Omnichannel Experience
As the world continues to grapple with the effects of COVID-19, many wholesale distributors are exploring innovative new distribution methods to stay competitive. One such approach is omnichannel distribution, which combines traditional and digital channels to meet the needs of both customers and suppliers.
With a robust eCommerce platform, businesses can offer a seamless, high-quality omnichannel experience that enables them to adapt and respond quickly to changing market conditions. Whether you’re looking to diversify your offerings or improve your existing operations, omnichannel distribution is an effective way to stay ahead of the competition.
Trend #3 – Investing Locally While Going Global
While the past few years have brought unexpected challenges, there are also plenty of growth opportunities. Whether focusing on local customers and suppliers or branching out into new markets, it’s essential to take a holistic approach to success in today’s global economy. With the right strategies and technologies in place, your business can thrive no matter what comes its way.
Bottom Line
As the wholesale distribution industry evolves, businesses must prioritize company-wide connectivity and information sharing. Distributors can thrive amidst today’s fast-changing global landscape with the right strategies and technologies. By leveraging data analytics at every level of their operations, they can gain insights that help them make smarter decisions and stay ahead of the curve. Whether you’re just starting or looking to modernize your existing business, the key is embracing the power of data and leveraging it for success.
Looking for a modern, cloud ERP platform that can keep up with the ever-changing demands of wholesale distribution? Acumatica Distribution Edition offers automation and simplified operations while meeting important industry security and compliance standards. Contact our team today to learn more about how Acumatica can help your wholesale distribution business thrive in the years ahead.
Additional Distribution Resources
How to Leverage Remote and Virtual Distribution
Metrics That Matter for Distributors: What are the Benefits?
7 Ways Distributors Can Grow With Modern Cloud ERP Software (Part 1 of 2)