Construction Today Volume 19, Issue 6

Page 29

Digital transformation can maintain real-time visibility into their warehouse and yard information – arming your employees with the tools to work more efficiently, spending less time searching for inventory in the warehouse and yard and more time with customers.

Digital commerce increases geographic reach and customer loyalty In considering inventory visibility, building suppliers must not only think about the ability for their employees to track changes

Not only did the demand for new homes

its current levels of profitability, seek out

and update, but also must effectively

increase, DIY and construction projects

methods to nurture valuable customer

communicate inventory updates to their

on older homes also saw an increase as

relationships, and engage new customers

customers.

families left the metro areas and navigated

as well – without applying the same

to suburban areas. Building suppliers, in turn,

engagement strategy, or pricing, to everyone.

This is where digital commerce comes in. In recent years, consumers have become much

were thriving and were able to incentivize

savvier when navigating the world of digital

employees with higher wages in an effort

ERP vendor selection

commerce and small to mid-sized building

to retain their current talent and attract

A one-size-fits-all ERP solution is not effective

suppliers must create and maintain a digital

new talent. As this ‘golden age’ comes to a

for today’s dynamic world. Consider a solution

presence to remain competitive. By reaching

close, businesses should consider how to be

that is informed by building suppliers and

your customers before they are shopping,

strategic in order to set themselves up for

built by building supply experts with more

informing them of your inventory in real time,

long-term success.

functionality and capability out of the box

you are improving the customer experience

Business leaders know that a reduction

and less need for customization and add-

and creating long-term purchase habits.

in sales – when prices normalize or demand

ons. Advanced capabilities like streamlined

Furthermore, as building suppliers build-

reduces – will not be met with enthusiasm.

workflows and more real-time reporting

out their digital commerce capabilities and

So, they will need to get more strategic about

and forecasting will also improve decision

shipping operations, they extend their reach

maximizing revenues and margins. Consider

making and provide early visibility to potential

and ability to service other markets.

customer stratification – which allows

challenges and opportunities. A seamless

businesses to understand who their most

experience online, at the checkout counter,

loyalty must be a priority. Using an ERP system

profitable customers are and strategically run

and in the warehouse will also enable building

helps businesses keep their inventory up-

operations to meet their needs and generate

suppliers to build customer trust and loyalty.

to-date, anticipate outages, and recommend

revenue. It may not be the customers who

comparable products when supply chain

buy the most or generate the most top

possible with the right solution on hand. With

issues restrict the ability to provide the

line revenue; priority clients are the most

them, businesses can conquer supply chain

desired product. This not only helps suppliers

consistent in the amount of business they

challenges to accelerate growth, maximize

serve customers but creates a loyalty within

are giving to the building supplier. Customer

profitability, and position themselves to

the customer base. Identifying and hanging

stratification will help a business maintain

address the future of building supply.

As industry challenges continue, customer

Accuracy, control, and productivity are

on to key customers will be essential to moving forward when recovery takes place. An industry slowdown is expected, and prices may not recover quickly, but builders will still build. As such, customer loyalty may be the difference between long-term success and failure.

Business strategies to level-set for the future At the beginning of Covid, the housing market hit a boom. The demand for new houses spiked to the highest rate since 2006, creating an influx of cash into the industry.

Graham Rigby is Regional Vice President at Epicor. Epicor equips hard-working businesses with enterprise solutions that keep the world turning. For 50 years, Epicor customers in the automotive, building supply, distribution, manufacturing, and retail industries have trusted Epicor to help them do business better. Innovative Epicor solution sets are carefully curated to fit customer needs and built to respond flexibly to their fastchanging reality. With deep industry knowledge and experience, Epicor accelerates its customers’ ambitions, whether to grow and transform, or simply become more productive and effective. www.epicor.com

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