The distribution business, the critical element of any business, especially the retail ones, has followed its trajectory as non-linear.
Whether delivering products to customers or providing services to organizations, distribution businesses have played a vital role in shaping a nation’s economy.
Recently, the COVID-19 pandemic has put the distribution business at loggerheads with the online players. Gone are the days when distribution was all about streamlining the supply chains and procurement practices and getting the products and services delivered at the right place at the right time.
The world has changed, and so have the ways of doing business.
This has made the entire distribution business processes come at the forefront of enabling customers with enhanced productivity, increased customer satisfaction, and surged profitability amid the chaos that the pandemic has caused to the world.
The repercussions of the pandemic have made businesses shift to digital ways of doing business, pushing organizations to adapt to digital transformation and deliver their goods and services to the masses.
According to recent research, the global distribution market is surging rapidly owing to the e-commerce, internet penetration, and omnichannel experience that customer get with the digitized distribution businesses.
Factors such as the rising need for digital value chains, digitized supply chains, and automated procurement contribute to digital distribution businesses’ market share.
However, some of the challenges that originate in the initial days of digital distribution include the following.
These days, Wholesalers are facing significant obstacles due to new digital competitors, changing customer expectations, and increased product and pricing transparency, that not only offer valuable opportunities but also provide core competencies to not only address the digital developments but also profit from them.
Businesses undergoing transition are exposed to mainstream e-commerce for years and expect the same standards of convenience and service from their business procurement processes., which is not always achievable.
For example, for the younger generations of customers and buyers, shopping online is as natural as using a smartphone.
The threat of new entrants and vulnerability caused by the new competitors have always been a major restraint to the distribution business.
New digital players are penetrating markets that were previously dominated by wholesalers.
E-commerce platforms such as Amazon not only have sophisticated digital know-how but also have the financial certainty to outnumber the traditional manual distribution cycles with the digital ones, which initially came as a challenge for the organizations.
Understanding all these challenges, “Fox ERP for Distribution” streamlines and digitizes the entire value chain of the distribution businesses in digitally driven ways by reducing the human error in inventory procurement management and stock control management and simplifying the distributional business in an organization.
With “Fox ERP for Distribution,” users can track each item in their inventory by providing the distribution players with serial numbers, and batch monitoring features, enabling them to follow the inventory with serial numbers and batch tracking features.
With the change in business processes and evolving digital ways of doing business, organizations in the distribution businesses are shifting to digital forms of doing business.
The rise in digital customer experience has made the distribution players realize the rising need to shift to digitization, enabling businesses to adapt to digital distribution and adding digital expertise across the entire value chain of the distribution business cycle.
The world has changed, and so have the ways of doing business. Since the emergence of the COVID-19 pandemic, we have seen an unprecedented shift in how organizations carry out their business processes.
It’s a world of emerging technologies, and organizations across industries are adopting them quickly. Supply chain operations, too, hold a significant share among organizations and businesses utilizing such technologies for their operations.
The times have changed, organizations have transformed their ways of doing business, and companies are shifting to an all-new digitized way of doing business.