Author: Mike Marks

While the economy has stabilized since the pandemic, it’s still characterized by uncertainty. The supply chain remains less reliable, while inflation continues to put pressure on manufacturers, distributors and retailers alike. Disruption feels like the new normal, and the companies that have managed to thrive are the ones that understand that disruption creates opportunity. Of course, those companies are often reluctant to share their game plans for fear of giving up their competitive advantage. And everyone else may be tempted to turtle up and act conservatively, which makes them acquisition targets. So, let’s create some visibility around what’s working for…

Many distributors have approached transformation in a piecemeal fashion. Most have only so many resources available and focus on one critical area at a time – in isolation from other dimensions of the business. Our team at IRCG has seen distributors addressing transformation in overlapping succession according to the most pressing priority, often starting with digital and moving on to sales, analytics and culture.   Yet, as Tom Gale of Modern Distribution Management and I discussed on the MDM QuickTake podcast, those distributors who take a holistic approach and account for all the ways each dimension will interact tend to realize…

If your 2024 plan is to do more of the same but just better, I’d argue that’s not a plan at all. Right now, distributors need to have a serious conversation about: What they’ll do that’s different. What they’re going to invest. I see a lot of distributors talking in circles about what they could do and what others are doing to grow sales, expand margin and increase business value. However, when they finally come to the table to define their objectives for the next year, they don’t make a larger commitment. Distributors can’t afford to do that again this…

In 2022, the focus was on digital transformation. Do you have ecommerce? Are you using a CRM solution? Have you created a roadmap for digital transformation? This year has a different focus. The past couple of years have put many through the ringer. Now that distributors have the time to breathe easier, they can adjust and be future-focused. The hallmark of 2023 will be a bridge. Distributors will have the opportunity to bring together the critical elements of digital, the rise of data and analytics, and the importance of talent and culture (your people). The connection—and success—of these elements will…