Constant changes in market dynamics for wholesale distributors have populated the roadmap to success with as many challenges as they have opportunities. Whether
those changes were accelerated by COVID-19, market disruptors, or labor challenges, the push toward digital transformation has driven an impressive amount of investment and innovation. That in turn has brought the focus to aligning people, processes, and technology in such a fashion that businesses can both scale and prioritize delivering added value. So much so, distributors must now change their mindset to compete based on customer experience rather than price.
The good news is that if they get this alignment right, distributors are poised to beat out market disruptors because of their deep understanding of their customers’ businesses and their relationships with suppliers. However, they can’t do that without investing in technology and being agile enough to implement the right components at the right time. Plus, they need to attract the right talent.