Agility is key to success in today’s wholesale distribution industry, and technology plays a crucial role. To lead the market, you need to make continuous innovation an inherent part of your operating model. Ask these key questions to make sure your company has all the best tools available.
Does your software use automation to reduce errors?
Collecting data quickly and accurately is critical for success in this market. ERP software automates and accelerates data entry by using technology such as barcoding and RFID tags. If you’re choosing a new system, look for one that connects all parts of the packing and processing, such as warehouse carousels, conveyor systems, scales and more.
Is there room to improve processes?
Does your current software let you review your business transactions and processes? Whether it’s receipts of goods, vendor and customer returns or directed put-away, ERP software can also offer advanced wave, batch or zone picking, if you use expiration dates and have requirements about which need to be packed.
Do you have flexibility when tracking inventory?
ERP software can support inventory across multiple locations. How much stock is there in each bin, shelf, rack, row and aisle? This information should be available in real-time for every member of your team to use. The advanced features that make this possible include serial tracking, first-expired-first-out picking, matrix items and automated replenishment.
Does it work for your business model?
Does the structure of your business require a cloud or on-premises system? Specific integration tools built into ERP software can give you the right level of integration, security and configurable workflows. Make sure to prioritise the measurability of sale conversions.
Are you keeping up with compliance and reporting?
Wholesale distribution relies heavily on good warehouse management, which often includes reporting for quality and compliance. Depending on the products you deal with, ensure your software has intelligent dashboards and easy reporting and inquiring features.
Are you managing orders effectively?
ERP systems have become the best solution for creating and managing sales orders. They can connect to your external business data, supporting backorders, item substitutions, inventory allocations and drop-shipments by line item. Make sure the ERP system you use can also review pricing, sales commissions and promotions to track margins consistently.
The framework for a successful future-proof business
It’s no longer possible to simply react to customer demands as they come up. Instead, businesses need to be able to predict market shifts and build flexibility into their systems, so they’re not caught on the back foot. Effective inventory management, smart forecasting, visibility across the supply chain, and better management of working capital can all be part of the solution.
How do distributors achieve these goals? In most cases, the advanced analytics, data management, and workflow customisation of a cloud ERP system is the answer.
Discover how cloud ERP software can take your wholesale business to the next level here.