Ecommerce And Customer-Centric: New Approaches For The Industry
The manufacturing and distribution supply chain has evolved over the years, influenced by many factors. Being able to adapt to ever-changing customer requirements has become a pressing need for businesses today.
A supply chain focused on customer relationship management offers more significant potential for unique solutions that combine timeliness, availability, and consistency to deliver desired values at prices customers are willing to pay. In fact, according to an IDC supply chain survey, shifting to a customer-centric approach is one of the industry’s top priorities.
Improving operational efficiency at all levels and deepening relationships are two key points that help them detect the requirements and expectations of potential customers. Leading industry experts and practitioners agree that both innovation and speed to market are crucial to the survival of the industry and manufacturing sector.
In fact, according to a PwC report, “surviving in today’s global marketplace requires organizations to invest in the future and be able to quickly bring successful innovations to market.”
How E-Commerce Affects The Industry
Electronic commerce has experienced substantial and constant growth worldwide in recent years and will continue to do so in the following. According to the National Commission for Markets and Competition, in Spain alone, it exceeded 6,700 million euros in the first quarter of 2017, 24.8% more than the previous year.
This reality changes the rules of the game in the sector: manufacturers and distributors can now sell directly to the end-user and eliminate the retail element of their traditional model. With today’s technology and highly educated consumer, customers have more choice and decision-making power around how and where to shop.
It is critical that manufacturers and distributors are ready to build deeper customer relationships while personalizing every interaction. Companies must have an effective value creation strategy to remain competitive and offer the best possible product in this evolving market. This will allow them to manage the product development process and synchronize separate business functions.