Thirteen lessons from distributors who are finding the silver linings in COVID-19.
Latest In Data & Analytics
These reps are now in position to play a key role in distributor revenue recovery plans.
Digital offering for customers is one of the four levers that distributors can pull to help them take share during the pandemic — or amid any disruption.
Distributors shift from rear-facing analysis to forward-looking predictive analytics models.
Tracking industry and customer data can provide distributors with a window into future planning as the market continues to shift during the coronavirus crisis. Channel Marketing Groups David Gordon suggests elements to consider, ranging from pricing pressures to the availability of talent.
In a recent virtual conversation with a few hundred Texas A&M Industrial Distribution students, the next generation had a lot to say about what changes they see in B2B distribution after the full impact of COVID-19 becomes clear. The future of distribution is moving faster than any of us thought possible, and its looking brighter with the talent coming online.
There is an escalating response to the economic impact of the coronavirus among distributors, increasing furloughs and hiring freezes, management consulting firm Alexander Group finds. However, forward-looking distributors are also putting plans into place to convert competitors customers and grow digitally.
Seemingly obvious streams of payoff can be mirages at best, or quicksand at worst, says Jonathan Byrnes of Profit Isle in a new podcast.
Create target customer segments that are more likely to take advantage of your unique product selection and services.
Begin with the basics: define objectives and data sources, improve data quality and build a sustainable model.
Involving a cross-functional team will increase the likelihood of successful company-wide adoption.
There are many easy-to-implement strategies that will help improve search rankings.
Dependence on traditional measures such as gross margin can put a drag on growth and profits. New metrics such as cash-flow value to expenses or expenses as percent of revenue, combined with customer-focused services, are propelling those who take advantage of them, says WayPoint Analytics Randy MacLean.
Three key areas to focus on to improve profits even during a business slowdown.
The partnership integrates Tribute's TrulinX ERP software with Aldrich's WebAlliance integrated e-commerce suite of products.
As top distributors become more proficient with data analysis, others are falling behind, creating a critical gap in competitive business intelligence. Four of the speakers at MDM’s upcoming Analytics Summit share their recommendations here for optimizing data analytics across a range of business operations.
This article includes:
- The Will to Do It
- Why It's Been Lacking
- Spreading the Knowledge
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Unlock valuable business and customer insights to identify patterns and pinpoint supply-chain inefficiencies.
Distributors cannot generate high profit rates without high efficiency.
Ample capacity and weather-related supply chain disruptions kept rates in check.
Analytics-driven operations can deliver staggering profit gains, but it takes a visionary leader who won’t accept a company’s current limited analytical expertise. In this article the author, who will outline these concepts at MDM’s Pricing & Profitability Summit, www.pnp.com, Apr. 15-17, argues that distributors can shift from a revenue-share mindset to a profit-share mindset by zeroing in on three key metrics: gross profit, cost-to-serve and net before compensation. It also outlines how the concepts of line-item profit analytics and quantum costing can create an effective analytics environment. This article is an excerpt from a chapter in A Distributor’s Guide to Analytics, a book published by MDM.
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