Now’s the Time for Re-evaluation
I’m getting a little tired of all the bad economic news these days. Gas will soon reach $4 a gallon (it already has in some parts of the country). Home foreclosures haven’t slowed down. Home values are declining, and major banking institutions are going under.
Yet despite that, the CE industry still seems to be going strong. We’ve been talking to a number of buying groups and distributors lately about the state of the industry and their outlook for the rest of the year. Across the board, they’re all taking a stance of cautious optimism. Many businesses are re-examining their models and mixes. They’re taking a closer look at their supply-chain strategies and back-office systems. They’re retraining their sales force and focusing on the customer experience.
Being forced to work a little harder isn’t a bad thing. In times like these, retailers, distributors and manufacturers actually get much better at their jobs. They learn to be more efficient and eliminate waste. They learn how to focus on the areas of maximum return. The important thing is to become better without sacrificing those things that helped make your reputation in the first place. I’ve seen both examples:companies that re-worked themselves into something both more and less than they once were.