The Ledger

The Value of Innovation in the Wholesale Distribution Industry

Distributors should select, implement, and leverage technologies that work together to enable innovations that help them embrace new and alternative business models and processes. The traditional approach to success and profitability in the wholesale distribution industry centered on operational efficiency and supply chain management. But that approach now needs to extend through to customer engagement and services innovation. It now also involves predictive models that leverage machine learning to anticipate shifts in demand and allow for more informed decisions that can be based on real-time data and insights from both suppliers and customers. A true digital core can allow for increased market awareness, agility, and decision making around product and delivery strategies.

Read More at The Digitalist by SAP >

The Seven Deadly Sins of Supply Chains

“Companies need to come clean and eliminate common supply chain offenses to deliver the greatest value to their customers.”

The demand for excellence involving all parts of the supply chain process has intensified. To maintain orders and improve the quality of business, organizations must have efficient supply chain solutions in place. When implementing new programs, it is wise to assess supply chain models and procedures as an essential step to enhance service with suppliers, partners and customers. Plenty of measures can be put in place to help companies operate at optimal levels. On the flip side, there are common “cardinal sins” that can add cost and time and damage brand reputation—these can and should be prevented to keep supply chain efficiency and customer satisfaction high.

Read More at MH&L >

Dynamic KPIs are Key to Keeping Up with Change

In today’s ever-changing business climate, it is imperative that business leaders need to take measuring the digital future seriously. In a big data, machine learning, and customer-centric era filled with dynamic disruption, any organization’s legacy key performance indicators (KPIs) may not be good enough to manage change. Large corporations don’t rely on ordinary or typical KPIs to shape their customer futures and future customer, and neither should any other company. KPIs can and should be a critical leadership tool and technology, so it is important to understand how big of a role they are playing in the organization.

Read More at The Sloan Review >

Manufacturers Need to Adapt to the Next Generation of Customers

Today’s consumers are changing, and this change is mostly attributed to digital technologies that are converging with the new attitude of the millennial generation. Today’s consumer wants everything immediately, at the click of a button, ideally customized, with discount options, assurance that the purchase can be returned if it doesn’t meet expectations (customer service), and perhaps most importantly, able to be delivered the next day, if not earlier. And not only are today’s consumers highly demanding, they are also in the powerful position of influencing a company’s brand via pervasive social media platforms. This has a disruptive impact on several industries, but in no other industry as much as consumer-packaged goods.

Read More at The Digitalist by SAP >