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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