2014 State of Analytics in Distribution

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1 Reprinted with permission of Modern Distribution Management 2014 State of Analytics in Distribution Gaps show disparate goals, adoption & performance among distributors Brought to you by: Research conducted by MDM on the adoption and use of analytics by wholesale distribution companies revealed several key trends: The wholesale distribution industry is transitioning to a more data-driven mindset, but there are widely different views on what that means. Many distributors say they don t have the right analytic tools, technologies and talent needed to stay competitive in quickly shifting markets. Survey respondents are generally satisfied with analytics centered on operational efficiencies and financial reporting, but less satisfied with deployment of more strategic tools focused on profitability, sales, marketing and service development. By Thomas P. Gale Distributors are wrestling with data and analytics in 2014, according to research conducted by Modern Distribution Management. While aware of the broad-based value of analytics (better decision-making, customer relationships, financial performance and execution of strategy), distributors also indicate widespread frustration with how effectively analytics are being deployed within their companies. MDM conducted this research to benchmark the use of analytics by distribution companies, as well as assess distributors current priorities, challenges and success with data and analytics. The findings here represent an online survey conducted at the end of 2013; MDM also interviewed wholesale distribution executives in late 2013 and the beginning of The research found that more distributors are exploring the adoption of sophisticated analytics, but roadmaps are either outdated or hard to come by. We re not where we want to be, noted one industrial products distributor, but analytics is a priority for us in 2014 to identify where and how we can leverage our data better. Some distributors are pretty satisfied with their use of traditional analytics, defined by historical reporting of transactional data. Others are pursuing more predictive analytics across a number of business areas, including inventory forecasting, cash flow management and sales/marketing opportunity. A distinct minority, about 10 percent, is analyzing unstructured data (such as online customer behavior and feedback) to guide sales, marketing and product management Evolution of Analytics Distributors have been on a journey of analytics adoption for decades, since even before management information systems came online in the 1980s. Many whitehaired executives remember the likes of Gordon Graham and Buddy Silver, inventory management gurus for a quarter century or more. Their concepts were widely adopted and literally became industry standards as they were programmed into code that drove logic for distribution ERP systems. (Consultant Jon Schreibfeder of Effective Inventory Management has continued to drive and provide distribution inventory management analytics.) As distribution ERP systems matured in the 1990s, distributors developed additional reporting capability, often through custom programming, to create specific operational and financial metrics for management use. Some of the leading analytics efforts centered on activity-based costing Supporting wholesale distributors with reporting and analytics software solutions since For more information: mits.com info@mits.com

2 2 MODERN DISTRIBUTION MANAGEMENT or similar systems to more accurately identify cost-to-serve in efforts to move away from a gross-margin-only metrics mentality. ISO 9000 and other quality initiatives also drove adoption of analytics and process improvement. In the past five to 10 years, the use of analytics in distribution has continued to mature and extend more deeply throughout individual sectors. MDM has charted this evolution, which has been driven by increased investment in the industry by private equity; the entrance of newer players such as Amazon, Google and others; and generational shifts in management. Most recently there has been strong growth in the use of pricing, profitability and market analytics. And customer relationship management (CRM) is increasingly part of the discussion to improve data visibility throughout an organization. Analytics Usage & Benefits As a result, more traditional ERP systems have integrated analytics into their systems; more third-party analytics tools are also available, including CRM, business intelligence and data visualization tools. Within this context, our research indicates a growing adoption of analytics across all spectrums type of tool, size of company and application. Distributors are most heavily using spreadsheets (89 percent), followed by business reporting/kpis/dashboards (74 percent) and forecasting (58 percent). The next tier of analytics adoption is for query and analysis, general statistics and Web analytics. Overwhelmingly, distributors say they are making better decisions by using analytics (89 percent). The next two largest benefits cited were better relationships with customers and business partners (62 percent), and improved financial performance (58 percent). Respondents indicated much lower value to more predictive applications of analytics (new opportunities with existing customers or new market segments, reaction to economic changes, and creation of new product and service revenue streams). But when asked how much the business strategy relies on analytics, a clear reality gap emerges. Only 12 percent of respondents say they rely on analytics for all of their sales, marketing and operational decisions, from pricing to product to customer selection. And 32 percent say they use analytics as a monthly or quarterly report card to advise management. The answers indicate a majority of distribution companies focused on periodic historical reporting, rather than more proactive trending insight. Analytics Adoption Gap The right tools, talent and techniques are all major hurdles for adoption of analytics with distribution companies. The largest impediments cited were a weak technology infrastructure and the correct talent to use our data. Not far behind was being inefficient at capturing and analyzing data. And 37 percent of respondents say that either their executives don t understand or support the use of analytics, or that they don t know where to begin. While there is increasing awareness of the value of analytics, this research indicates a majority of respondents are far from satisfied with their current analytics capability. How much does your corporate strategy rely on analytics? Not at all We rely on analytics for some, but not all of our sales, marketing & operational We just use analytics as a report card for monthly and quarterly performance only to advise management We rely on analytics for all of our sales, marketing & operational Source: MDM Analytics Survey, conducted in 4Q13

3 Status of Analytics by Function Distributors are happiest with their use of analytics into traditional corporate functional areas, with more than 80 percent very or somewhat satisfied with applications to finance, followed by operations/supply chain management, customer service/support and IT/management. At the bottom of the list, the least satisfaction expressed was for service/product development, followed by human resources and marketing. With the rapid development of multichannel strategies, particularly by broad-line competitors, it will be interesting to track the trend in future MDM surveys. One would expect broader adoption of marketing automation and analytics to guide specific new product or service development into niche customer segments. Level of Analytics Maturity Nearly 55 percent of survey respondents indicate the use of only rudimentary or simple reporting/spreadsheet tools in their company. A quarter of respondents say that reporting and more predictive tools are available. Only about 20 percent of respondents are using automated alerts to employees as part of their analytics. And only 10 percent are deploying tools to analyze unstructured data (unstructured data is often defined as qualitative and text-heavy, including customer feedback increasingly available through Web, and social media). Overall, larger companies surveyed are deploying deeper levels of analytic tools, but there were some notable exceptions, where small companies are using technology and analytics to gain competitive advantage. Profitability Analytics A growing area of analytics is in net profitability, but the level of detail distributors measure varies widely. Less than 20 percent of distributors measure profitability at the line-item level, the deepest. Surprisingly, the next largest level of detail is at the order or transaction level (12 percent) and then the customer level (11 percent). Comments on the value of measuring profitability were focused: Our analytics use order size, frequency of orders, shipping costs to determine our most profitable customers, and identify those customers that offer us the opportunity for profitable growth. That information determines how we allocate our sales personnel focus. We measure profitability at the line item and class of product level to confirm we are achieving optimum margin against competition strategies. DSRs can see and manage profitability of items and orders better. Interestingly, 41 percent of respondents indicated they were not measuring profitability at the customer, transaction or line-item level; however, there was an overwhelming indication by respondents that this capability would be very to extremely useful. Customer & Market Size Analytics Another emerging area for analytics is in wallet and market share measurement. Some distributors conduct broad-based competitive market intelligence, using third-party data resources as well as tracking competitor news and earnings reports, and careful analysis of Web and social 3 What best describes the level of maturity for analytics in your company? Reporting, predictive tools & automated alerts to employees Reporting, predictive tools & automated alerts to employees w/tools for unstructured data Other Simple reporting tools with limited predictive analytics Rudimentary, with only spreadsheets & basic reporting tools Reporting and predictive tools widely available Source: MDM Analytics Survey, conducted in 4Q13

4 4 What are the biggest impediments to the adoption of analytics in your company? 40% 35% 30% 25% 20% 15% 10% 5% Our technology infrastructure is weak We lack the correct talent to use our data We are inefficient at capturing & analyzing data Industry hasn t employed analytics in a significant way Executives don t understand or support use of analytics We don t know where to begin Privacy issues Source: MDM Analytics Survey, conducted in 4Q13 media activity. Others have created proprietary systems using historical transaction data, in combination with third-party benchmarking data, to create more predictive demand models. We benchmark usage at existing accounts where we have significant share, and translate that into market opportunity data for target accounts in their space, i.e. refineries, said one mid-market electrical distributor. We also use market size data developed by suppliers and our internal market research. Opportunity for Differentiation The use of analytics is indeed maturing, and its adoption is accelerating across wholesale distribution sectors. But there is wide disparity in how distribution companies are deploying analytics and sharing data in While distributors are largely happy with their traditional analytics capabilities, many are aware they could be doing more, citing a variety of internal and external limitations. There is widespread recognition that we have not leveraged our data in the past, and it is now a priority. Leading analytics adopters have made analytics a strategic priority, taking many forms. Some are taking a research and development approach, creating dedicated departments, job functions and budgets to support increased analytics education and tool selection. At a deeper level, the drive by industryleading adopters is to migrate analytics capability, traditionally under the control of the IT department, across the organization, to shift from a more traditional intuition-based decisionmaking process to one where data is at the heart of nearly every important decision. For companies that prioritize continuous improvement in analytics, there is clearly an opportunity for competitive advantage across every level of an organization. Thomas P. Gale is the president of Industrial Market Information ( and publisher of Modern Distribution Management.

5 5 About the Survey This research was conducted by MDM with the assistance of Real Results Marketing. It included an online survey that yielded 242 responses in late 2013 and phone interviews with select participants in January Nearly 80 percent of participants were wholesale distributors, 15 percent manufacturers and the remaining service providers to distributors. There was heavier participation from industrial, safety, electrical, building materials/ construction and HVACR/plumbing. Other sectors respondents operate in include hardware, oil and gas products, chemicals and plastics, janitorial, paper, electronics, pharmaceutical and grocery/foodservice products. About 38 percent are small distributors, with less than $50 million revenue, 39 percent are mid-market with $50 million to $500 million revenue, and 14 percent large with more than $500 million revenue. Others did not disclose revenue range. 71 percent of respondents identified as executive or general management, while 23 percent identified as having sales or marketing functions. MODERN DISTRIBUTION MANAGEMENT Founded in 1967 by J. Van Ness Philip Publisher Thomas P. Gale Editor Lindsay Konzak Associate Publisher Craig Riley Associate Editor Jenel Stelton-Holtmeier Staff Writer Angela Poulson Contact Information Questions, comments, article proposals, address changes or subscription service to: Gale Media, Inc Arapahoe Avenue, Ste 201, Boulder, CO Tel: Fax: Website: Subscription Rates To subscribe to Modern Distribution Management, please call , or subscribe. Published twice monthly; $395/yr., $415 U.S. funds other countries. Six-month and two-year terms are available. For group subscription rates and site licenses, please contact Dillon Calkins at or visit /corporate. Copyright 2013 by Gale Media, Inc. All rights reserved. Modern Distribution Management and mdm are registered trademarks of Gale Media, Inc. Material may not be reproduced in whole or in part in any form whatsoever without permission from the publisher. To request permission to copy, republish, or quote material, please call ISSN MDM Editorial Advisory Board John Allenbach, SVP, Professional Sales, Apex Tool Group Kevin Boyle, President, Industrial Distribution Consulting LLC Chester Collier, SVP, Global Distribution, Walter Surface Technologies Ted Cowie, Executive Vice President, Elvex Larry Davis, President, ORS Nasco Larry Goode, President, Goode Advisors Inc. Charley Hale, President, FCX Performance Julia Klein, Chairwoman & CEO, C.H. Briggs Company Stuart Mechlin, Real Results Marketing Doug Savage, President & CEO, Bearing Service Inc. Burt Schraga, CEO, Bell Electrical Supply

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