Industry Comment


Change brings opportunity, partnerships provide the foundation


When all is said and done, and on whichever side of the fence you sit, dynamic partnerships provide the foundation for future success. ByAndrew Douglas (pictured), TimeguardMD.


general direction of travel” and how you manage it that matters. Amidst all the current political and constitutional turmoil, though, you might wonder if bringing any more change on our heads is worth the risk. Why not stick with the devil you know? We’ve all got enough to cope with to mitigate


N


the risks associated with Brexit while still satisfying short term financial targets. So, it this a good time for our industry and the channel to lie low and stick to business as usual? Absolutely not – there are no winners in standing still, and we need to stay sharp and be match fit for the challenges ahead. And that means continuing to drive and embrace change. What do we even mean by change? There are of course investments in the ongoing practical IT- led changes in the way we do business and communicate, with advancing EDI technologies and digital product databases (ETIM) etc. as well as the heavy investments into the internet. Ceasing investment in these changes would be like stopping an oil tanker. Momentum keeps it going – you have to keep


steering. The lifeblood of our industry, though, is still the business of conceiving, developing, testing and bringing to market new products and ideas which enable installers to win more business and differentiate themselves from the


18 | electrical wholesalerAugust 2019


aturally, we’ve all heard management speak about change being a process, not an event, and how it is “the


rest of the pack. Hasn’t it really always been like that? A new product launch event is only the very tip of an iceberg, the project process may have been underway for years. So, if we’re all in this for the long haul, it comes


down to old school disciplines of good planning, good stock management, tight cost controls and investing in the right new product choices for future gain.


Businesses that were fortunate enough to have


the ready resources to hedge against currency fluctuations are in a more fortunate short-term position being able to buy forward both on stocks and on currency. But high stocks at preferential currency rates won’t last forever, and whilst they can/do protect margins and sales, at some point new stocks and new products have to come in. As manufacturers or wholesalers we have a choice: do we chase the tail and try and pick up quick sales at the low end of the market? Or do we play safe and put more of our resources into high-end products and smart systems, with higher £ margin potential? An interesting choice, and perhaps a bit of both might be right. Both rely on good partnerships. We’ve all been working together long enough


to know who the good guys are. As wholesalers, you know which manufacturers will deliver on time, back their branded products to the hilt with solid technical support and helplines, and invest in new products and improved functionality that the market wants.


ewnews.co.uk In turn, manufacturers know which wholesalers


pay on time, welcome their investment in product development and support it with stock orders, and have the market knowledge to give an indicative advance order on a future products and thereby enable manufacturers to schedule production and deliveries accordingly. In other words, the partners we’ve all trusted before a crisis or upheaval are going to be the ones to trust during and after it. So, given that the industry has solid


partnerships and solid relationships built over time and on trust in spadesful, why wouldn’t we all continue to keep looking and planning beyond the immediate short-term horizon? Yes, we’re all in this together for the long haul


and partnerships really are the foundation for future success.


timeguard.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48