Selling VMI as a Service
Wholesale distributors need to sell services…. NOW! Distribution plays an integral role in the supply chain, and the supply chain is a mess right now. Traditionally, distributors have focused solely on selling products, however, in recent years, there has been a growing trend among wholesale distributors to offer services in addition to their core products. In this blog, we will explore the value of selling services, why it is becoming increasingly important, and how Storeroom Logix can help.
Services as a Differentiator
In today's highly competitive marketplace, it is challenging to stand out solely based on product offerings. By offering additional services, distributors can distinguish themselves and provide added value to customers. This differentiation can help win new customers and retain existing ones, leading to increased revenue and profitability.
Improved Customer Relationships
Selling services also allow distributors to build stronger relationships with customers. By providing services that help customers address their pain points, manage the supply chain, and achieve their goals, distributors become more than just a supplier, they become a partner that is invested in their customers' success. This enhanced relationship can lead to greater customer loyalty, repeat business, and even dependence, all of which are critical to long-term business success.
Increased Revenue Streams
Selling services can also create new revenue streams. While product sales may fluctuate due to factors such as seasonality or market trends, services provide a more consistent revenue stream. Additionally, services often have higher profit margins than products, which can help distributors improve their bottom line. By diversifying their revenue streams, distributors can also reduce their dependence on any one product or customer, mitigating risk and increasing stability.
Services that Complement Products
The services that wholesale distributors offer should complement their core products, adding value and addressing customer needs. For example, a distributor to the construction industry might offer Vendor Managed Inventory solutions. A distributor to the industrial MRO industry might offer…. well, they should also offer Vendor Managed Inventory. OK, we’re biased, but it is true. All customers who buy parts are having problems with inventory availability. No service is more needed than VMI!
Distributors must identify services that complement their core products and align with their customers' needs. By doing so, they can improve their competitive position, increase customer loyalty, and drive business growth.
How Storeroom Logix Can Help
Storeroom Logix can assist wholesale distributors in selling services by providing them with the necessary tools and support to effectively market and implement these services. Here area few ways Storeroom Logix can help:
- Competitive Advantage: Storeroom Logix’ VMI solution, SRX, is superior. Distributors who use SRX for VMI have a clear competitive advantage.
- Training and Support: Storeroom Logix provides training and support to distributors' sales teams to help them effectively sell services to their customers. This can include product knowledge training, sales pitch development, and customer engagement strategies.
- Marketing Materials: Storeroom Logix provides marketing materials such as brochures, presentations, videos, and white papers to help distributors effectively promote their services to their customers.
- Implementation Support: Storeroom Logix provides implementation support to distributors to ensure that their services are successfully implemented and integrated into their customers' operations.
- Data Analytics: Storeroom Logix provides data analytics to distributors and their customers to help track and measure the success of their service offerings.
- By partnering with Storeroom Logix, wholesale distributors can leverage our expertise and resources to successfully sell services and grow their business.
Contact us to learn more about adding Game Changing VMI to your Services.