Technology is all around us, and it’s changing the world we live in. It’s already impacting the Collision Repair Industry. From crash avoidance technology to autonomous vehicles, technology is making its mark on the automotive industry. All indications are that this trend will continue to gain momentum. Not only will technology impact the way vehicles are repaired, it’ll change how products are distributed.
We’ve all heard the phrase: The definition of insanity is doing something over & over again and expecting different results. We know it’s a true statement, yet we persist in doing things the same way year after year—hoping we’ll make more money and operate more efficiently.
Change is hard – and technology changes how we’re used to doing things—but if we want solutions to shrinking profit margins, revolving customer doors, and inefficiency, we must be open to new ways of doing things, or we may be left behind.
It’s smart to look at other industries & how they’ve used technology to impact their businesses and increase sales. Similar strategies may impact your industry, if they haven’t already.
We’re going to look at a few companies to see 3 ways technology has changed the way those businesses operate—particularly with Distribution.
IoT IN DISTRIBUTION
IoT – the Internet of Things. What exactly is that? Simply put, IoT is a giant network of connected “things” people-people, people-things, and things-things. This includes everything from cellphones and coffee makers, to the components of machines, such as a jet engine of an airplane or the drill of an oil rig1.
Business Insider’s Intelligence — a research service, predicts there will be more than 24 billion IoT devices on Earth by 2020. That’s approximately four devices for every human being on the planet. Businesses will be the top adopter of these solutions because they lower operating costs, increase productivity, help companies to expand to new markets and develop new products2.
The new rule for the future is going to be, “Anything that can be connected, will be connected.” To stay competitive, your business will need to embrace IoT.
Vending Machines Impact on Industrial Supply
A IoT case in point is Fastenal, a company that began with 2 prototype vending machines in 2008 that were powered by software. At that time, this type of technology was only adopted by a small minority of facilities3. Fast forward to the first quarter of 2017, where Fastenal reported over 64,000 installed machines (not including leased lockers)4.
Other companies, such as Grainger and MSC Industrial Supply, have also adopted, and vending machines in industrial spaces have become a widely accepted way to house, track, and dispense products.
This is largely due to increased productivity (machines at the point-of-use shortened the distance a worker traveled between their work space & where they got their products), automated ordering (orders filled from their website), reduced deliveries, and worker accountability (by utilizing the machine’s software functions, managers could track who removed a product & when they removed it.)
An added benefit found by distributors was that they could defend their business by controlling which products were housed in the machines—therefore, keeping competitors out. They found that the system worked to grow their business, saved their customers money, and made the plants more productive567.
EFFICIENT LOGISTICS
Technology is also impacting distribution logistics. Distribution Logistics involves the flow of products—the planning, design, coordination, management and improvement of the processes of moving goods and resources8.
Let’s look at how Amazon used technology to change the way America gets products.
Digital Commerce
Amazon’s founding idea was: “Digital commerce will radically reshape our marketplace.” CEO Jeff Bezos wasn’t afraid to take risks and utilize technology to realize that vision—and it’s worked. Amazon has become an online powerhouse—causing the market value of former retail giants to plunge.
Over the last 10 years, stores like Sears saw a 96% drop in value; Macy’s was down 55%, Best Buy down 54%–while Amazon’s value climbed 1,934%. Only Walmart, who has made great strides in its online presence, has been able to fight the downward spiral – logging only a 1% loss9.
What caused such a huge decline in the retail world?
Somewhere along the line, Amazon totally changed the logistics of how America gets products: The old shopping model where Jane goes to the Mall & shops for 3 hours—coming home with a blender—has been replaced by Jane logging onto Amazon, deciding on a Fitbit –and in 4 clicks, she’s done & on to her spinning class.
Meanwhile, Amazon’s distribution behemoth takes over & has that device to her in 2 days or less. We used to go get the product—now that product comes to us. Those stores that are still waiting for shoppers to visit their Brick & Mortar establishments are being forced to close some locations.
Among those closing over 4000 stores in 2017 are: Sears, Macys, JC Penney, Gander Mountain & CVS. They either couldn’t keep up with the ecommerce competition or they got into the online game too late11.
And Amazon continues to ramp up their Distribution methods—investing heavily in regional warehouses and information technology. They’ve introduced one hour, same day, Sunday, and even drone deliveries–All powered by the willingness to harness technology to manage their distribution processes10.
INCREASED SALES BY LEVERAGING DATA
A third area where technology is making inroads is in the field of Data Analytics. Understanding how to profit using information from data is a new concept for a lot of businesses. And the demand for Data Scientists is rising as the corporate world realizes the advantage they’d have in the marketplace if they could read and interpret the data they already have in their current systems.
Can you imagine knowing exactly what needs to be done to increase sales or which processes to change to improve cycle time?
Amazon has been leveraging data for years to increase sales by marketing exactly what you want on any given day. And they’re good at it—so good that it sometimes feels like you’re being studied. Have you ever been searching on Amazon for a product, and you leave the site to check Facebook or read an article? How strange is it when you see ads pop up across your Facebook feed pitching the exact products you were just searching for on Amazon? You glance over your shoulder to see if they have a hidden camera watching your browsing habits.
Data that predicts purchases
Amazon doesn’t have a physical camera in your house—but what they do have is a comprehensive collaborative filtering engine (CFE). It analyzes your previous purchases, what’s in your shopping cart, & which products you search for the most. It then uses that data to recommend additional purchases both on Amazon & other sites. This method has increased the company’s revenue by almost 30% each year12.
Data that grows your business
This example is only a fraction of the way Amazon utilizes information. And they’re just one of many companies using data to grow their business. What they’re doing shows you how valuable future data could be to your business. You could know which employee is the most efficient. You could predict which products would fly off your shelves. And you could increase your bottom line by knowing which changes need to be made in your business.
Technology is a big part of the future of distribution, along with other areas within the collision repair industry. Early adopters will find themselves ahead of their competition.
Becoming comfortable with the new technologies can sometimes be daunting. But when you look at the advantages, it should encourage you to get on board. In an industry that’s fighting shrinking margins & scrambling to defend their businesses, it’s good news that there are innovators developing ways to connect your business to the internet. Through smart software, it’s become possible to streamline your processes, automate the ordering process of your materials, improve cycle times—just to name a few.
When you add the value of predictive data’s ability to help you improve profit margins and make your business more efficient, it’s a winning combination.
If you’re interested in innovative technology available for your Shops today, check out LeanTec Inventory Management Systems—a cloud-based system that marries smart software & hardware together. It increases material profits as it secures & tracks your products and automates the ordering process–all while providing data and customizable reports. To learn more, explore this website or go to https://www.leantec.com
Resources:
2 http://www.businessinsider.com/what-is-the-internet-of-things-definition-2016-8
3 http://investor.fastenal.com/releasedetail.cfm?ReleaseID=927626
4 http://investor.fastenal.com/releasedetail.cfm?ReleaseID=1021059
5 https://www.fastenal.com/en/9/fast-solutions-vending-
6 https://www.youtube.com/watch?v=npfF4cdFKFo
8 http://smallbusiness.chron.com/logistics-differ-distribution-77542.html
9 http://www.visualcapitalist.com/extraordinary-size-amazon-one-chart/
11 http://clark.com/shopping-retail/major-retailers-closing-2017/
15 Of The Best Documentaries On Roasted Arabica
Coffee Beans high-quality arabica coffee beans (https://athosworld.haliya.net/bod/index.php?action=profile;u=112050)
The Best G Spot Vibrators Tricks To Transform Your Life Best G spot Vibrators
The 10 Scariest Things About Window Hinge Repair Near Me
Window Hinge Repair near me (sciencewiki.science)
Hi exceptional website! Does running a blog such as this take a massive amount work?
I’ve no expertise in computer programming but I had
been hoping to start my own blog in the near future.
Anyway, if you have any recommendations or tips for new blog owners please share.
I understand this is off topic but I simply had to ask.
Many thanks!
Here is my web-site: rust cheats
Guide To Best Couples Sex Toy: The Intermediate Guide For Best Couples Sex Toy best couples sex toy (Angeles)
20 Quotes Of Wisdom About Fiat 500 Key Fob Replacement Fiat 500 replacement Key near me
naturally like your web site but you need to test the spelling on quite a few of your posts.
Several of them are rife with spelling issues and I find
it very troublesome to inform the truth then again I’ll certainly come back again.
Feel free to visit my web site – เกมJOOX FUN
I think the admin of this website is really working hard in favor of his web site,
for the reason that here every material is quality based stuff.
My page – https://Vapebg.com/
10 Mobile Apps That Are The Best For Autolock Smith auto locksmith Near me 24 7
Really when someone doesn’t be aware of afterward its up to other people that they will help,
so here it occurs.
my webpage: Natural Stone Tiles Sydney and Pavers
14 Cartoons About Treadmill For Sale Near Me That’ll Brighten Your Day
treadmills On Sale
buy viagra online
Don’t Buy Into These “Trends” Concerning Saab Key Fob
Programming saab Centre Milton keynes (ai-db.science)
5 Laws Everyone Working In Private Psychiatrist Should Be Aware Of
private psychiatric assessment
7 Simple Changes That’ll Make A Huge Difference In Your Butt Plugs Online
sex And butt plug
Looking For Inspiration? Try Looking Up Pod Making Machines pod coffee Maker
order baclofen generic – feldene over the counter generic piroxicam
Why You Should Concentrate On The Improvement Of European Single Mattresses single double mattress –
Marcus –
Wonderful article! That is the kind of information that
are meant to be shared across the web. Disgrace on Google for now not positioning this put up upper!
Come on over and seek advice from my web site . Thank you =)
My webpage ngentot pepek
How To Create Successful Car Lock Repair Near Me Techniques From Home central locking repair near me
Linkk exchange is nothing else however it is ust placing the other person’s blog link on yor page at suitable place and
other person will also do same for you.
레플리카 쇼핑몰
The 9 Things Your Parents Teach You About Daftar Akun Togel Resmi Daftar Akun Togel Resmi
Greetings from Carolina! I’m bored to tears at work so I decided to browse your website on my iphone during
lunch break. I love the knowledge you present here and can’t wait to take a
look when I get home. I’m shocked at how fast your blog
loaded on my cell phone .. I’m not even using WIFI, just 3G ..
Anyways, awesome blog!
Feel free to visit my website … abowin88 login
The Worst Advice We’ve Heard About ADHD Undiagnosed In Adults Diagnosed Adhd (Rvolchansk.Ru)
Wow, wonderful blog format! How long have
you ever been blogging for? you make blogging glance
easy. The overall look of your site is wonderful, let alone
the content![X-N-E-W-L-I-N-S-P-I-N-X]I simply could not leave your website prior to suggesting that I actually loved the standard information a
person supply on your guests? Is gonna be back regularly
to check up on new posts.
Also visit my web blog :: seo conference 2024 Las Vegas
20 Insightful Quotes About Car Lock Smith local Locksmiths for Cars
I used to be recommended this web site by way of my cousin. I am not positive whether this post is written by means of him as no one else recognise such detailed about
my problem. You’re incredible! Thanks!
Also visit my webpage http://www.Adpost4U.Com
I’ll immediately grasp your rss as I can not find your email subscription link or newsletter service.
Do you’ve any? Kindly let me recognize so that I could subscribe.
Thanks.
Here is my blog post; Pasang IndiHome Aja
How Double Glazing Leeds Has Become The Top Trend In Social Media loft window repair
I’ve been browsing on-line more than three hours these
days, but I by no means discovered any attention-grabbing article like yours.
It’s pretty price sufficient for me. In my opinion, if
all site owners and bloggers made excellent content material
as you did, the net might be a lot more useful than ever before.
my page; SEORockstars
Awesome article.
Feel free to visit my web page … Qdprobot.com
Hmm is anyone else encountering problems with the images on this
blog loading? I’m trying to figure out if its a problem on my end or if it’s the blog.
Any feed-back would be greatly appreciated.
Have a look at my homepage: https://Doodleordie.Com
FitSpresso is an impressive weight loss supplement that has
caught my attention due to its special formulation of ingredients and its focus on promoting healthy
weight loss in a effective way. What distinguishes FitSpresso
from others is its unique mix of components that not only support
fat burning but also help to boost metabolism and improve general
wellness. I like that FitSpresso is designed to work gently
yet effectively, making it ideal for people who are looking for
a healthy weight loss method.
The fact that it boosts energy while curbing hunger is a major benefit because it helps to prevent extreme hunger pangs
or intense cravings that many other weight loss solutions cause.
Additionally, its all-natural composition makes it a healthier alternative compared to chemically-based supplements.
I’ve seen many success stories from customers who have noticed significant improvements in their energy levels,
mental state, and overall body composition after
using FitSpresso into their health regimen. It’s also worth
noting that it fits well into a busy lifestyle since it does not demand a drastic change in diet or
heavy exercise.
Overall, FitSpresso looks like a fantastic choice for individuals focused on achieving their
weight loss goals while maintaining their wellness with a safe, convenient solution. I believe it offers a practical and
effective solution for those who are looking to lose weight
without compromising on their health.
10 Things We Hate About Titration ADHD Meds adhd titration Meaning (telegra.ph)
Hi my family member! I wish to say that this post is amazing,
nice written and include almost all significant infos.
I’d like to see more posts like this .
Feel free to visit my site: seo conference
whoah this blog is magnificent i really like reading
your posts. Stay up the good work! You recognize, many persons are
searching round for this info, you could aid them greatly.
Feel free to visit my webpage … agenolx
I simply couldn’t depart your website prior to suggesting that I extremely loved the standard information a person provide in your visitors?
Is gonna be back frequently to investigate cross-check new posts
Feel free to visit my web-site: Pasang IndiHome Aja
I?m not that much of a internet reader to be honest
but your blogs really nice, keep it up! I’ll go ahead and bookmark
your website to come back later. All the best
my website: SEORockstars
I very lucky to find this site on bing, just what I was looking for
😀 also saved to favorites.
my page … seo conference 2024 Las Vegas
can you get viagra from the pharmacy: depakote pharmacy – buy ambien online pharmacy
I have been browsing on-line more than three hours these days,
yet I never discovered any interesting article like
yours. It is lovely price sufficient for me. In my view, if all webmasters and bloggers
made just right content material as you probably did, the internet can be a lot more helpful than ever before.
Also visit my blog SEO Rockstars
I?m not that much of a online reader to be honest but your blogs
really nice, keep it up! I’ll go ahead and bookmark your site
to come back down the road. Cheers
Here is my homepage :: seo conference
Buy Hempified CBD CBD is a reputable brand that offers a wide range of CBD products to cater to the needs of its customers.
What’s up colleagues, nice post and fastidious urging commented here, I am truly enjoying by these.|
https://brilliantglass.ca/
Greetings! Very helpful advice within this article!
It is the little changes that produce the largest changes.
Many thanks for sharing!
my homepage; zabauk01
Baccarat players can appreciate the ery best real-revenue
Look att my web blog: 온카사이트
I?m not that much of a online reader to be honest but your blogs
really nice, keep it up! I’ll go ahead and bookmark
your site to come back later on. Many thanks
my web-site … seo conference 2024 Las Vegas
Hello my loved one! I wish to say that this article is amazing, great written and include almost all
vital infos. I’d like to see more posts like this .
Visit my website … seo conference Las Vegas
I was recommended this blog by my cousin. I am not sure whether this post is written by him as
nobody else know such detailed about my problem.
You’re incredible! Thanks!
Feel free to surf to my blog post; seo conference Las Vegas
I have been absent for some time, but now I remember why I used to love this site.
Thanks, I will try and check back more frequently.
How frequently you update your site?
my blog post seo conference