A wholesale distribution software allows business managers easy, fast, and accurate access to various inventory records, such as stock and financial reports. The software’s reporting capabilities enable managers to see different aspects of their stock performance including rate-of-sale, stock availability, backlog orders, and so on.
Managing Stock Distribution with Inventory Software
There are many factors involved in a wholesale distribution business, all of which have an impact on your net earnings. Factors such as shipping and logistics, insurance, inventory control, customer service, and others have a direct impact on your revenues. You can, however, significantly reduce your costs and improve ROI using distribution software.
A wholesale distribution software cuts costs by strengthening supplier and customer relationships and improving operational efficiency. Some of the solutions offered by the software that are crucial to improving your ROI include order-to-cash records, demand and supply planning, procure-to-pay ability, rebate and chargebacks, supply chain execution, business analytics, wholesale distribution solutions, technology and mobile solutions, among others.
Regardless of the scale of your business, using a wholesale distribution software solution will help improve your profits and operations. The advantages of using a wholesale distribution solution include:
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Improves customer experiences through various sales and support channels
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Offers innovative services that lower costs and improve revenues
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Integrates supply planning and demand to optimize inventory, product mix, and order fill rates
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Improves cash flow and the cost of vendor recovery
Improve ROI Using Wholesale Distribution Software
Here are five ways wholesale distribution software helps improve ROI:
- Inventory management
With inventory management software, you get real-time control over all your inventory and important processes in the supply chain. This will help you in making prudent stocking decisions. For example, you will be able to replenish stock depending on demand as identified in the software data. Therefore, there will be no more need to stock many products with the hope that demand will rise. - Demand planning
The software enables you to anticipate demand based on rate of sales, and thus saves you from wasting capital by buying stock that you are not sure of selling. You can plan in advance for expected sales and close loops in the supply chain. - Online integration
Avoid excessive paperwork and repetitive data entry by using an inventory software. Electronic enterprise communications help to increase supplier and customer satisfaction and responsiveness. With a data import suite, you can avoid tiresome manual data entry from external sources. Online integration also helps to reduce the costs of printing records. - Financials
You can control AR, AP, general ledgers, supplier rebates, and other financial related records with an inventory distribution software. You can improve cash flow through controlling credit payments and terms and analyzing important financial information in order to make wise decisions. - Procurement
An inventory software helps to improve ROI by controlling production, purchasing, and importing. You can monitor and report customer demand predictions and determine the cost of production at every level. Automated demand leads to positive results in improved product optimization and purchase efficiency. If you are importing, you can manage importing costs, visibility, and order tracking.
Do not be weighed down by volumes of inventory data, complicated calculations, duplicate data entry, price updates, multiple-stage rebates, special orders, sophisticated reports, and so on. Simply switch to using wholesale distribution software to overcome all these daily operations challenges.
Enterprise resource planning may be expensive and complex, but it can significantly improve your return on investment, which makes it worth the time and investment.