The oil & gas industry is booming in the U.S., and distributors can capitalize on this exponential growth to facilitate their own profitability and expansion, says Lisa Russell, Infor Distribution strategy director, in a March 18 article in Industrial Distribution magazine, headlined "Industrial Distributors Should Look to Grow Through Oil & Gas Market."
Here are excerpts:
"Distributors have an opportunity to increase their revenue by serving a customer base that is hyper-focused on expansion and often located in regions not previously considered part of the energy market. Suppliers to the oil and gas industry are now beginning to question whether they are 'adequately resourced to fully take advantage of the business opportunities that exist in unconventional oil and gas,' according to the Energy, Equipment and Infrastructure Alliance (EEIA). Considering the vast amount of revenue to be made, distributors should find a way to fully capitalize on the industry's potential or perhaps consider the acquisition of another organization that already does."
"Distributors can position themselves as valuable business partners by demonstrating that the organization can keep pace with the industry's demands. In order to achieve this, distributors should invest in modern technology to equip themselves with the necessary agility to deliver exceptional customer service."