Invest in Technology While Interest Rates Are Low

The Path to Profitability for distributors

Economist urges distributors to plan for growth before the economy heats up

Current economic conditions combined with low interest rates have created the perfect climate for distributors to invest in their businesses, according to economist Alan Beaulieu, president of ITR Economics.  One of the most powerful investments distributors can make is in harnessing transformative technologies that are currently available. Beaulieu believes a deeper level of business intelligence is important for many distributors, since the wholesale trade in durable goods tracks fairly closely with industrial production.

In this industry viewpoint, The Path to Profitability, discover some of the strategies Beaulieu recommends for distributors in preparation for future growth including:

  • Finding and eliminating bottlenecks in their operations.
  • Investing in operational efficiencies.
  • Planning for higher wages.
  • Borrowing now while rates are low.
  • Investing in training, to ensure that employees “can do as much as they possibly can with all the new tools you’re giving them.”

Also learn how Turtle & Hughes, an electrical and industrial distributor, is leveraging Big Data to drive smart purchasing, deliver useful data to customers as a value-added service, and anticipate the need for larger or smaller inventories.

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