Rob Nadler is the Executive Vice-President of Stanpro Lighting Systems. He recently co-wrote an informational article in the Lighting Design & Specification publication. He expertly talks about digital transformations in the electrical industry.
In the article, he speaks about how consumers increasingly rely on constant digital access to make purchasing decisions. This is spurring digital transformations in the electrical and lighting industries.
Meanwhile, the electrical industry is ironing out how to evolve from their traditional value chain model. They want to move towards an integrated, digital ecosystem that is connected, smart and highly efficient. In fact, Rob suggests it should happen now. The pressing question is: how? How does an entire industry evolve and remain relevant in the face of tremendous change like this?
The threat of inaction could have immense consequences, as digitally native competitors surface with wholesale distribution tactics. As a matter of fact, “the race to digitization is no longer coming, it’s already here.”
On the other hand, digitization runs the risk of rendering legacy services obsolete and weakening interpersonal connections between businesses and customers. Highly complex products and services should always remain relationship-driven due to unique acquisition challenges. This is why the change should be planned and rolled out carefully.
The new digital ecosystem will digitize processes so that businesses can access, engage, customize, connect and collaborate with customers and other partners seamlessly. Moreover, B2C digital experiences are pressuring B2B practices to evolve in order to remain competitive, and in order to become agile, transparent and robust.