Successful distributors continuously refine and enhance their ability to negotiate the best deals with vendors, identify and address areas of operational inefficiency, determine a fair price for products, manage inventory levels, and motivate and reward those individuals who help distinguish the business with customers and suppliers.
Each of these activities leverages analytics. From a business perspective, the effective application of analytics enables distributors to deepen their customer insights, improve and accelerate spot decision making, identify and respond to market dynamics, and operate more efficiently.
ACTION POINT: Recognize the analytics that you use in running your business every day.
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