Fourth Industrial Revolution Demands Quicker Adaptation - Modern Distribution Management

Log In

Fourth Industrial Revolution Demands Quicker Adaptation

Continuous adaptation is the new continuous improvement.
jenel-white
Author
Date

Fundamental shifts are taking place in the industrial world – and distributors will be disrupted by this if they don't embrace these changes.

Whether it is a new industrial revolution, as the global leaders who gathered in Davos, Switzerland, last week say, or simply a continuation of the third industrial revolution that was heralded by digitization and automation, these shifts, "will fundamentally alter the way we live, work and relate to one another," writes Klaus Schwab, executive chairman of the World Economic Forum.

The speed at which technology has developed and been incorporated into our personal and professional lives over the last 20 years is astounding. And for many business executives it has introduced additional uncertainty.

"(T)hese drivers constitute a source of constant surprise, even for the best connected and most well informed," Schwab says.

Customers have more transparency but are demanding even more. The power has shifted to new players in the industry. And this means that distributors need to continuously adapt to the new marketplace.

"Business leaders and senior executives need to understand their changing environment, challenge the assumptions of their operating teams, and relentlessly and continuously innovate," Schwab says.

Continuous adaptation – and not just continuous improvement – will be necessary as technology continues to morph the roles of all the players in the supply chain. And innovation will be required to set you apart from your competitors. This means investing in new technology, processes and people to stay on the cutting edge. But at the same time, don't lose sight of your foundation as you move forward. Without a strong base in business fundamentals, anything you build could quickly crumble.

We at MDM have dubbed this the 2016 Distribution Remodel and will be covering these shifts more in the coming months. Hear more about the 2016 Distribution Remodel by checking out the MDM Webcast: The 2016 Industry Outlook.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.