It’s that seasonal time when the days begin to get shorter and cooler. Having the right inventory balance in stock for the winter months provides opportunities for manufacturers and their distributors to fulfill orders without delay. That’s obvious, but before you mentally check out, finish this article and read why it is particularly important.
Slack in Service
As you can see in the chart, the average median for manufacturing in retaining customers is 65%. Although lower than other industries, there is a margin to maintain long-term relationships and increase customer service, loyalty, and reach. That deficiency out of 100% could mean your current supplier is too diversified, unfocused, laden with internal bureaucracy, or just plain indifferent about customer service. For WPT, as a manufacturer and our distributor network, there is a 35% chance of improving those customers’ experience while developing and increasing customer retention. It’s a vastly neglected segment of customers who can choose better customer service right now, even during the winter season.
Average Industry Customer Retention Rate
So, what do you need to know about the WPT team providing a seamless transition between the customer’s purchase order and product delivery during these colder months? Keep reading.
Winter Inventory Planning
For many in the manufacturing industry, there is a push to produce a profitable Fall before winter arrives. Part of that mindset is the need to consider seasonal surge demands. The holidays bring on increased logistical demands like capacity constraints, labor shortages in shipping, and stockpile congestion at the ports, yards, and warehouses, all leading to a domino effect on the supply chain. The freight industry during this time significantly impacts the ability to create positive customer service and experience. Here is how.
Increased Transportation Costs
Winter weather impacts the supply chain by increasing operational costs. Let’s look specifically at one example: the cost of transportation. The demand consistently exceeds the supply during this season. The natural result is an increase in the price of all goods associated with the supply chain. Shortfalls of drivers, fuel, shipping containers, and major transportation routes are impacted. Bottlenecks occur and increase the costs in all areas involving logistics. That will put a cold snap on customer service. Taking that into account, that is where our stocking distributors can assist in meeting your application needs.
Reduced Lead Times
The difference between a manufacturer that stocks the inventory and a distributor with ready inventory is important. The distributor develops greater value over time. Knowing the abovementioned expected issues and balancing stock forecasting are planned in anticipation of the colder months. The value is reduced lead times and products delivered faster than the end customer expects from their other sources. Honestly, it is an opportunity for a beneficial business relationship and a driver to reinforce customer retention.
Avoid Winter Downtime
There’s nothing that can slow down productivity and output, such as discovering that your application needs a clutch, brake, or wear part to be up and running. Waiting for back-ordered shipments to arrive can hold up your productivity and result in unsatisfied customers. We know this.
WPT and our Distributors review the inventory levels based on the expected demand for everything you might need to place orders. Distributors know that keeping stock locally will give you peace of mind and help your business stick to its commitment to fast turnaround times.
New Season of Better Service
Spring though autumn may be your busy seasons, but these commitments will help you get the most from the winter months. WPT wants to be your manufacturing partner, and our distributors welcome the opportunity to serve you best. Our goal is to provide 100% customer service engagement and satisfaction.
WPT’s product range is available from an authorized WPT Distributor near you. They can provide additional information, application assistance, or technical support. For more details or our distributor network, please visit our website at WPTpower.com or call us at 940-761-1971.