The massive onslaught of major international retail chains in markets, the exponential growth of e-commerce and today’s economic uncertainty are placing considerable pressure on retail and distribution firms. In such a context, exercising rigorous control over the cost of goods sold (COGS), redesigning the way things are done and transforming the buying experience and customer service are indispensable differentiators from the competition.
The business leaders in this sector know this, so they must come up with innovative strategies they can use to effectively and rapidly satisfy consumer expectations in an ever-changing global market.
- Reinventing the business model
- Improving the effectiveness of all processes (purchasing, inventory, warehousing, shipping, etc.)
- Be bold and original when prospecting for new markets
- Reducing costs and improve profitability via careful, creative inventory management
- Identifying and introducing the best of today’s technologies to support the new business processes
The new map of the sector, commercial standards, sustainable development principles and today’s buying models are demanding major organizational, strategic and marketing changes. Retail and distribution directors must instill new energy, anticipate commercial trends, adopt best practices and introduce new paradigms into their corporate culture.