Complete Story
10/14/2024
027. Understanding the Drivers Pushing Distribution from Version 1.0 to 2.0 (morning)
Instructor: J. Michael Marks
Level of Complexity: Intermediate/Advanced
9:00 AM - 12:00 PM
Distribution has been going through tremendous change for the last quarter of a century with customers expecting an Amazon experience, the advent of digital, suppliers going direct, industry consolidation, the entry of non traditional competitors, and of course generational change. The pandemic only accelerated these impacts. Two firms have provided significant insight into these changes along the way, the National Association of Wholesaler-Distributors (NAW) and Modern Distribution Management (MDM). The two firms have now joined and this session distills the key learning from both organizations. The impacts are usually grouped into several categories including sales transformation, the introduction of analytics, digital applications, and culture. Proximity and artificial intelligence are just now emerging into driving forces and innovations will be seen in these areas during 2025 and beyond.
This session provides participants with a framework that they can use to assess their own firm with respect to these forces and identify their future threats and opportunities. One key element that is critical in this assessment are the changes being experienced by their customers. There will be several group activities for participants to identify areas of further interest. For each of the categories a short series of emerging best practices will be shared, along with the costs and risks of deployment. Making the transition from the old school distribution 1.0 model, "We sell service with excellent people," to the 2.0 version requires organizational change and incentive changes along with the evolving technology tool set. It isn't about firm size, rather is is about the skills needed for change management. Several strategies will be shared including some major mistakes to help participants determine their best path forward.
Learning Objectives:
- Will be able to determine where they are will respect to being behind the industry change, both in the risks they face, and the opportunities that are now available.
- Using the provided framework, will be able to determine where to start addressing their identified market gaps.
- Will be able to take their knowledge of how distributors have managed these changes to determine their best path forward to ensure success.
Bookstore
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