The need to examine how your wholesale business operates is vital in today’s climate to stay relevant and stay ahead of your competitors. It is not a question of whether to digitally transform your business. Instead, it is when to start. Preferably now, if you have not already charted the course.
Digital Transformation
According to Intact Software, digital is an ‘Omni-disruptor’ in the wholesale distribution arena, affecting processes and workflows throughout the entire supply chain. Digital transformation in the wholesale industry has levelled the playing field for well-established wholesale distributors and newer entrants into this segment. New wholesalers can cause significant disruption for established brands reliant on traditional business models.
This multi-pronged approach of covering all bases such as smartphone apps, telesales, e-commerce, in-person trade counters and alternative sales channels such as Amazon and Google shopping ensures products and services are seen at the right places at the right time.
Disintermediation
As suppliers and retailers look to cut costs and reduce time-to-market, wholesalers face the precarious possibility of being removed from the equation. They must, therefore, find a way to combat direct deliveries, whether it’s faster delivery times, more straightforward returns, cheaper logistics costs, or increased personalization options.
What can be done to redefine the wholesale distribution business model?
Open to Technology - Future-first technologies must be a primary focus. Making a move as an agile, competitive early adopter towards total digital transformation will position you to integrate emerging tech as it appears. The IT department must be adequately resourced and skilled and choose business partners that take the broad approach to digital transformation and not look at tech platforms in isolation.
Market Vigilance - Taking stock of the market, chiefly the competition, is an excellent place to start. What are they doing? What have been their most recent successes? And what kind of technologies, products and services have they invested in to keep their business buoyant? Knowing your competition, their technological investments their successes is also necessary.
Investing in Innovative Solutions - Manufacturers, suppliers and retailers are experiencing similar pressures as those faced by wholesalers. That’s why providing innovative services, and distribution models could be an effective way to stay relevant and win more customers in the years ahead.
Read more https://www.intactsoftware.com/blog/how-to-evaluate-your-wholesale-distribution-business-model/
Have any queries how your wholesale organization can benefit from Zooloo’s digital tools? Contact us at sales@zooloo.asia.
Explore more
- Read about The Digital Transformation Journey
- Learn more about our “Digital Backbones”
- Learn more from our eBook series on Digital Transformation for Wholesale Trade
Tags:#digitaltransformation #B2B #digitaladoption #digitalintegration #covid19 #digitalsolutions #wholesaletradesector #wholesaletrade
