The 2017 Economic Benchmarks for Wholesale Distribution paint a positive picture for distributors. The annual report shows the economy and the wholesale distribution industry appear to be turning a corner this year due to positive outlooks on employment, wages and corporate investments that are expected to boost the US economic growth overall.
All 19 major wholesale distribution sectors are expected to post actual (not adjusted for inflation) revenue growth in both 2017 and 2018. Experts believe this could be the longest economic expansion in US history.
While the economy is showing signs of growth for sellers, we can’t ignore the dramatic changes in the historically conservative wholesale distribution industry.
The industry has become more competitive than ever and consumer expectations are driving major shifts in the economic landscape. Distributors are starting to understand that what led to success in the past is no longer enough to stay competitive in today’s rapidly changing environment. To remain competitive and ensure future success, distributors are looking at their entire portfolio of technology, reevaluating their ERP platforms, but also looking towards CRM and commerce to drive further business efficiency, flexibility and greater customer success.
You can read more about the 2017 wholesale distribution outlook in this white paper from Modern Distribution Management (MDM), created in partnership with Oracle NetSuite. If you are interested in additional detail, you can also tune into the one-hour webinar featuring Brian Lewandowski, associate director at the University of Colorado Boulder's Leeds School of Business, and MDM Publisher Tom Gale where they discuss the economic drivers of last year and the industry's outlook through 2018.
Learn more about how Oracle NetSuite is evolving the wholesale distribution industry with cloud-based software to transform, engage and modernize your business.