Distributor’s perspective: Reflecting and looking ahead

Distributor’s perspective: Reflecting and looking ahead

1. Assess if your on-boarding and training programs are adequate to handle the additional labor you may need.

2. Determine if you can increase your use of technology to lessen your dependence on human labor.

3. Do you have enough working capital or capital sources? Growth burns through cash.

4.Ask yourself if you have the systems and equipment to handle additional orders/business. Are you going to be losing market share to someone who can handle more business?

5.Decide if you can maintain quality at higher volumes of output. This is not easy to accomplish, especially when capacity constraints crop up.

6.Raise prices! Capacity-constrained businesses and industries should be regularly raising prices.

Think and act upon the above items as they relate to your business to enable you to get the most return on your investment. Remember that the NAFCD Quarterly Economic Trend Report is just one of the many resources NAFCD uses to educate its members on the emerging trends that impact their businesses.

For those attending Surfaces, be sure to visit NAFCD at booth number S6101 during exhibit hall hours to learn more about what NAFCD has planned for 2015. NAFCD will also be hosting a Distributor Lounge adjacent to the NAFCD booth where member and non-member distributor attendees can hold meetings, catch up on work and talk with other NAFCD members and staff.

Source:  www.fcnews.net  (published on 19th January 2015)