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Latest In Operations
Managing your customers through this COVID-19 crisis to maximize their long-term loyalty and profitability includes several steps, such as incorporating your emerging channel strategies, aligning sales compensation with your priorities, developing product substitution groups and preventing over-ordering.
Much is being written about how to manage the supply chain threat of COVID-19. The problem is that virtually all of it focuses on disruption threats to inbound supply chains from suppliers. The equally important, longer-lasting challenge is managing your customers through the crisis period to maximize their long-term loyalty and profitability.
The worldwide disruption caused by COVID-19 means distributors need to consider both short- and long-term action plans for your inventory and customer pricing programs. MDMs John Gunderson shares actions that are critical to helping your company anticipate customer needs.
Tariffs, commodity price increases and coronavirus COVID-19 are among the concerns causing a high level of supply chain disruption. MDMs John Gunderson and Derek Green share their go-to action items to ease the uncertainty.
From how the threat of coronavirus COVID-19 might influence supply chains to insider insights on getting the most from digital platforms, MDM readers cast a wide net for industry wisdom during the month.
There are key responses distributors can take to address issues that arise from blindly following a competitors lead, giving all customers equal service, allowing technology to paralyze you, making the wrong software decision, missing changes in your customer base, taking on mediocre business and becoming complacent about competitor capabilities.
Brand value is a huge asset for both manufacturers and distributors. With continued homogenization, investments made in developing ones brand starts to erode and price becomes the primary differentiator.
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This category can only be viewed by members. To view this category, sign up by purchasing MDM Premium Subscription (monthly) or MDM Premium Subscription (annual).
This category can only be viewed by members. To view this category, sign up by purchasing MDM Premium Subscription (monthly) or MDM Premium Subscription (annual).
This category can only be viewed by members. To view this category, sign up by purchasing MDM Premium Subscription (monthly) or MDM Premium Subscription (annual).
Inventory management is wholesale distributions biggest pain point, Blue Ridge and SmartBrief survey shows.
Companies like 3M are prioritizing distribution for those most in need, and the American Chamber of Commerce in Shanghai predicts a direct impact on 2020 revenues.
A look at the legislative status of bi-partisan bill American Innovation and Manufacturing Act of 2019, its potential industry impactsincluding whether or not states will act to pass legislation on their own and the bills chances of reaching President Trumps desk.
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There are myriad ways for distributors to go beyond the status quo, including creating a business development team, building marketing around unassigned accounts and changing commission plan incentives, says MDMs John Gunderson.
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Under-investing in customer-facing resources and tools can erode a distributors value, says management consultant Andrew Horvath. However, he cautions that being all things to all customers is often an expensive and inefficient approach. Successful distributors differentiate commercial service levels (CSLs) based on customer need and value, Horvath says.
