2023 calls for distributors to be proactive, transparent | 3 ways distributors can fend off manufacturer competition | Hy-Vee goes back to having one CEO
Distributors can mitigate the impact of an expected recession in 2023 by making their operations more transparent and pursuing growth, according to Tom Gale, lead researcher and industry analyst at Modern Distribution Management, and Mike Marks, founding partner at Indian River Consulting Group. "Distributors are in an ideal position to proactively shift traditional mindsets around reactive supply chains to much more proactive (and profitable) value chains," Gale writes.
The high likelihood of a recession this year means many business-to-business customers will be open to buying directly from manufacturers, but distributors can take several steps to combat the trend, write Groove Strategy Group founder Michael Connerty and lead consultant Jennifer Kozak. They recommend strengthening customer relationships, providing "a more seamless experience across customer touchpoints" and improving commercial organizational approaches.
2022 supply chain industry review Supply chain organizations continue to seek new solutions as pandemic challenges remain. Blue Ridge asked supply industry leaders to take part in a survey that delves into their challenges, possible solutions and how the evolving technological landscape has affected operations. Download the white paper.
The pandemic has forced many companies to adopt digital solutions for supply chain functions ranging from trucking to warehousing, and experts say the trend is just beginning. Digital transformation through e-commerce, automation and other technologies is expected to help fight inflation, reduce carbon emissions and improve productivity.
Streamline team collaboration and reduce costs In the contact center, it's in the collaboration layer where work gets done. Join experts from Slack, NeuraFlash and Salesforce as they explore features that help your retail service teams provide connected personalized service at every touchpoint. Register here.
Some marketers are being cautious during the first quarter amid slowing economic growth and economic uncertainties with delayed commitments, seeking flexible deals, cutting back on experimental efforts and higher reliance on tried-and-true channels, say experts. "Many companies are worried how this will impact their business not just in Q1 but throughout 2023," says Innocean USA's Mark Weinfeld.
Get unmotivated team members back on track by giving them new and interesting things to do, connecting them with other team members and those who benefit from their work, and giving them regular feedback, David Burkus writes. "As people grow and develop in their role, feedback should shift from telling people how to do specific tasks and towards coaching them to solve problems they're already equipped to solve," Burkus writes.
Leaders can make team members feel valued by validating contributions and by setting clear expectations to motivate goal achievement, S. Chris Edmonds says. "Validation increases employees' clarity, commitment and confidence that they're doing important work that matters," Edmonds says.
