Distribution businesses across the sectors have gained traction recently. It became more critical in the uncertain times that the recent COVID-19 pandemic brought at the forefront of several companies.
The repercussions of the pandemic pushed the businesses to the core of re-inventing themselves, with the nuances of digital transformation, streamlining the entire business processes of the distribution business.
The digital natives and online e-commerce platforms raised retail service and convenience standards, gaining excellence across the industries and leading to the most significant digital online players’ expansions into the B2B realms.
The distribution business encompasses several sub-businesses that utilize the significance of digital data and technology to take actionable insights and drive growth.
Once transformed into the digital entirely, businesses use the readily available resources and expertise to ensure the business viability and competitive edge in well-planned, strategic initiatives and leverage digitization.
A recently conducted market research report suggests that almost 33% of the distribution businesses shifted to a digital business model since the pandemic emerged.
It is further augmented with the factors such as digitization, fuelling more growth to digital requirements of distribution businesses.
Distributors have started using readily available resources and expertise to ensure the business viability and competitive edge to carry out strategic initiatives and promote digital growth.
Digital transformation in the distribution business does not simply mean acquiring and deploying more and better technology to rebuild the business operations and deliver valuable innovation to their customers but also leveraging the digital tools and technologies that help businesses flourish in the longer run.
Another survey suggests that the growing popularity of e-commerce for retail has also improved the distribution business.
As per the Digital commerce 360 report, almost 41% of wholesalers surveyed call eCommerce the deciding factor in revamping their sales channel, from 31% to even more.
A significant share of 88% of B2B purchasers preferred shopping via eCommerce, resulting in a digitized distribution business.
Distribution companies are innovating and adapting to digitization to attain the market share by enabling transitional trends:
Common trends that are reshaping the distribution business in the digital era are discussed below:
In a digital economy, the distribution business and its numbers continue to grow at an impressive speed by enabling new insights and agile business processes across the entire value chain and promoting digitization, streamlining the distribution business processes.
Wholesale companies adopt new technology in a highly competitive market and drive business innovation effectively.
The cloud computing and hybrid deployment models accelerate time to value, drive higher adoption of new technologies, and connect value chains in real-time.
Smarter robots, artificial intelligence, and smarter products are entirely reshaping the distribution value chains, enabling new business models, and ultimately changing the world. For instance, drones help with different delivery methods and unique service and maintenance models.
Encompassing the needs of the distribution business, ERP products and software are revolutionizing the digital distribution business space with their compelling, digitized ways of doing business.
“Fox ERP for Distribution” provides efficient real-time tracking of stock levels by reducing human error in an organization’s inventory procurement management, stock control management, and distributional business.
With “Fox ERP for Distribution,” each item in the inventory gets tracked with serial numbers and batch tracking features.
From managing stocks to multi-store management, distribution businesses are getting digitized and streamlined with “Fox ERP for Distribution.”
Its “Do it yourself” mode of implementation gives businesses a real-time view of the business processes.
Like any other business, distribution businesses are also digitized, allowing business players to leverage the benefits of digital transformation.
ERP software such as “Fox ERP for Distribution” sets industry benchmarks with its digital ERP product, resulting in digitized business processes across the distribution business value chain.
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.