Contributed by Nicole Leinbach Reyhle, Founder of Retail MindedAchieving a connected supply chain has proven itself a challenge time and time again, particularly as our global economy continues to recover from the pandemic. Keeping this in mind, the National Retail Federation’s recent, debut 360 Supply Chain event was a welcomed experience that delivered valuable insight and solutions for industry decision makers looking to optimize their supply chain efforts.
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Sales channels have always been evolving. Historically there were middlemen. More recently, there were influencers. Now, the world is entering the third age of channels: the ecosystems. Each age builds on the previous one, adding new nuances, models and demands at an accelerating speed. Businesses that understand this evolution and embrace or even drive it stand to gain a first-mover advantage and capture customers and partners alike.
If your company reaches customers through an indirect channel, understanding how it is impacted by external influences is essential. Analyzing the effect of changes in macroeconomic and technological factors can help you gain market share, displace competitors, increase revenue and optimize investment performance—among other perks.
There is one advantage to having poor channel incentives technology: You can always blame it on the tools!