wholesale retailers, wholesale distribution, wholesale distributors
Let’s face it – the current pandemic situation has hampered wholesale distribution on a large scale. Nevertheless, we have to face it somehow and make whatever adjustments necessary. The wholesale distribution industry must develop creative solutions in order to ride this wave of uncertainty.
How to Improve Your Wholesale Business Distribution Agility
Here are some steps that you can take in order for your business to thrive in the midst of this situation.
1. Think Innovation and Creativity
Your business strategy is an essential component to stand out from the competition. Take in a mindset that not only can leadership spearhead in such activities but the staff and other members of the wholesale distribution can take part in this. Introducing new products or enhancing current delivery services are some of the activities you could brainstorm with your staff.
2. Offer a Great Customer Platform
Superb customer service is one area that your wholesale distribution business should focus on. After all, this is a huge aspect that customers remember when thinking of coming back. Offer the extra mile of customer service in any of your business dealings and you will have an edge from other companies like yours. Keep a proactive mindset in anticipating customer issues/concerns as you move forward.
3. Be Open for Change
There is a saying that “the only constant in this world is change”, and that also applies to the wholesale distribution industry. Like in the current situation right now, adaptation is a key trait in order to survive this pandemic. Ready yourself and your business in these adjustments for you to keep up with the changes that keep on coming in.
The Wholesale and Distribution Trends for 2021
While adapting to the new wholesale and distribution climate, there is a need for adjustments and compromises in order to keep up. Here are some trends that you should consider and check out if they can be directly applicable for your business:
Increasing Competition and Innovation
There is an intense competition between wholesale distribution retailers and players nowadays.
Gone are the days where the choices of the customers are triggered by convenience. They actually do their own diligence in seeking the best distributor to fit their needs. Aside from price, they are now looking for flexible delivery options as well. This in turn has forced wholesale distribution companies to look for what kind of value can be added to their services that would attract customers.
Global Dynamics Impact in Supply Chain
In the global supply chain, wholesale distributors play a key part in the midst of the whole picture of the logistics supply horizon.
In the current situation, such distributors are faced with several challenges such geographic dependency, manufacturing plants shutdown (for varied reasons), and even regulatory restrictions. This trend has led the distributors to adapt to these variables and react to demand patterns. Due to these key variables and possible disruption, they are now focused on better supply chain planning, managed inventory, and even careful assessment of realistic demands.
Increased Complexities Due to More Regulatory Requirements
There is now an increase on regulatory requirements both locally or internally. This causes more complexity in dealing with wholesale distribution. Wholesale distribution retailers are forced to abide with these new regulations in order to keep the business rolling.