Disrupt, or Be Disrupted
I remember in 2008 working for an aircraft manufacturer and the device everyone used was a BlackBerry. Android or iPhone devices were things teenagers and hipsters used, not someone in a serious business role.
One day I was debating with our head of field service about iPhones and Androids and why I believed the 400+ people in his organization would be using iPhones or Androids in the future. I said they would become the predominant device in businesses and BlackBerry would be a thing of the past. He laughed it off and said no way, the keyboard on the BlackBerry was here to stay and wouldn’t get replaced by a touchscreen. We know how the story ended for BlackBerry, and years later that head of field services reached out and admitted how wrong he had been.
We run into business leaders that are some of the most intelligent and successful in their fields but who fail to see how technology and innovation is changing the world, and specifically, how their industry is changing. I sat in a meeting with one of the world’s largest airlines at their parts warehouse with 10 of their team members and a senior sales executive. The executive said, “People won’t buy aircraft parts online. Not in my lifetime.” This sentiment is prolific in the aircraft parts trading and selling segment of aerospace.
Only 52 of the Fortune 500 from 1955 still exist in 2020.
Innovation and disruption plays a significant factor into why only 52 of the Fortune 500 from 1955 still exist in 2020. In fact, the majority of the top 10 most valuable brands are technology companies (Google, Facebook, Apple, etc). This is a strong indicator that technology is a predominant factor in our world. The latest generations (Millenials and Gen-Z) that are applying for and filling positions at your company are going to be either digital natives (grew up with the Internet) or mobile natives (grew up with the smartphones). This group will only know a world that includes the Internet and in some cases both the Internet and smartphones.
The Industry is Changing
GoDirect Trade is a great example of where things are headed in the part selling segment of our industry. They’re a true marketplace (think Amazon, not Craigslist) that requires sellers to provide imagery, documentation for traceability and price as the standard to list a part on their site. Can you imagine trying to shop on Amazon without any pictures or prices? Do you think the digital natives and mobile natives will continue to settle for this complacency in the aircraft parts industry? I would venture to say they will be the future leaders of companies that will replace your company at the top of the aircraft part sellers list.
It might take years but it is only a matter of time before parts will be bought and sold online. That statement was shared during a meeting with the head of one of the largest private jet management companies in the world. His company continues to grow and grow. He gets it, and we always enjoy spending time with thought leaders like him.
The Future is Here
The future companies that will lead and dominate the aircraft part sales market will have proper online storefronts that allow their customers to transact online and manage the spam-ridden/duplicate RFQs coming from marketplaces using artificial intelligence (AI). Those leading companies will use technologies like blockchain to store traceability information and leverage machine learning to get better insights into their business. Yes, we (APN) have these things now and you can too.
Don’t let your ERP systems of the past hold your sales team and inventory hostage.
The godfather of change management and author of A Sense of Urgency, John P. Kotter said in his book, “Complacency is pervasive, in part because it simply is not seen, even by many smart, experienced, and sophisticated people.” AeroParts Now is a company dedicated to pushing our industry into the future with smart online part sales that include documentation, images, and more. Don’t let your ERP systems of the past hold your sales team and inventory hostage. Options exist from replacement of functions to ready-built integrations. Talk to my team at AeroParts Now today.
Be a disrupter and join the future of aviation commerce, AeroParts Now.
