Wholesale distribution is undergoing a lot of evolutions, placing pressure on many wholesalers to make changes to adapt to the evolving market. From lowering costs while improving profit margins to the rise of online sales, wholesale distribution is facing a lot of pressure to improve efficiencies to meet increased customer demand.
Technology can be a game-changer used by many industries to improve operations. By integrating the right tech, wholesalers can reach a more diverse customer base, increase retention, and build stronger business relationships.
Leveraging a commerce platform for an all-in-one solution can help set up recurring orders, add easy-to-use features for quick reorder capabilities, and allow customers to set up subscription plans and personalize their service. Learn more about the technologies that are driving change in the wholesale industry.
B2B Wholesale Channel
Choosing a B2B wholesale channel allows you to offer customers a self-service portal for ordering and browsing inventory. Using these portals creates an efficient and easy-to-use way for customers to quickly place orders and drive a significant portion of their profits.
Artificial Intelligence (AI)
AI is a powerful tool across many industries. With wholesale distributors, it can be a valuable way to monitor data. Real-time data monitoring allows you to predict volume demands more accurately. AI tools can also integrate pricing to help determine optimal pricing based on sales and various data collected.
AI can also effectively review and compare products and specifications and identify buying patterns. The information can allow sales teams to identify potential customers who may benefit or provide upsells or deals to other customers.
Electronic Data Interchange (EDI) – The EDI allows companies to share data using a uniform data format to interpret and use the information quickly. Allowing partner companies access to several different data can help you manage your entire business more efficiently from end to end. Both companies should agree on the format to best utilize the shared data.
Integrate ERP System – An integrated ERP system provides wholesale distributors insight into their data through cloud-based solutions. The system can automatically update in real-time, prevent tedious data entry, and save time, money, and resources. ERP software can provide many utilities, including inventory management and tracking to monitor movements between warehouses.
An integrated technology platform can simplify and streamline operations. A single source of truth can provide a better user experience and enable accurate inventory calculations. An inventory management system can also track orders across channels.
Consultare is a boutique Enterprise Resource Planning (ERP) consulting company. We help our clients increase their business efficiency and visibility by implementing our SAP Business One solutions designed specifically for the business and its industry.bAll while providing support and serving as a trusted consultant.
Find out more at https://www.consultare.net/process-manufacturing-software-solutions/.