The United States is the second largest consumer and producer of oil in the world and it is estimated that $80 billion or more per year will be invested into the midstream and downstream petroleum infrastructure in the US between 2014 and 2020. In order to support this demanding growth, there is a huge need for supplies to be made that can be used for the building of new extraction points, plants, pipelines and roads. Plus, the supplies that already exist need to be maintained. Given all of this information, distributors should really be looking to capitalize on this exceptional growth.
Industrial distributors are needed to create the supplies that are needed for this growth. There is an exceptional need for the following supplies:
- Machines
- Pipes
- Valves
- Fittings
- cutting tools
- Hoses
- Power transmissions
Suppliers of these products have the chance to boost their bottom line by providing the growing market with the products that they need. Those suppliers who already provide products for the oil and gas industries are unsure if they have the resources that they need in order to meet growing demands. This is an opportunity for distributors to really capitalize on this outstanding earning potential.
Companies that have access to and extract oil deposits now need to do so quickly because of the high price of the initial capital and lease limits in order to keep their profits high. Oil prices have declined in recent years, which means that speed and efficiency are a necessity in order to extract and transport increased amounts product. Distributors should be looking to market themselves as valuable business partners. They can do so by showing that they can keep up with this industry’s increasing demands. Distributors can show this by investing in the modern technology that is needed in order to prepare themselves for providing outstanding customer service.
How Can Companies Provide Exceptional Customer Service?
By not only meeting, but by exceeding expectations. They can do this by being outfitted with technology from NSA that is flexible, integrated and can quickly and easily meet the demands of this growing industry. Outdated supplies need to be replaced with modern ones, as those that were used in the past are no longer efficient at meeting high demands. Distributors should also look to implementing an integrated businesses platform, which can help to enhance decision making, thus boost customer needs and satisfaction.
By preparing themselves with the products and supplies that are needed, wholesale distributors can keep up with the ever-changing climate of the oil and gas industry.