The need for a powerful ERP solution is inevitable to manage the unique requirements of wholesale distributors. Careful cost accounting is a priority for those who want to remain competitive.
To do this, management must have a clear view of inventory to manage operating costs and balance them with monthly revenue. This is difficult and requires careful tracking of all inventory and its movements.
Only a reliable and comprehensive application can simplify processes and optimize key details. Here are six must-have ERP software features for wholesale distributors that can improve business process efficiency.
The ability to efficiently process orders on time is a winning point for any distributor. For this to happen, all operations must be performed perfectly. Distributors often struggle with inventory and procurement management to ensure proper inventory levels and timely inbound and outbound product. The ERP system can complete the task without any obstacles. This feature provides a number of benefits to the company, including improved customer service, time savings and reduced administrative costs. It offers comprehensive information on each purchase and sale, helping you learn the strengths and weaknesses of your business, as well as a forecast of what will help it thrive in the future.
The only thing common to all wholesale companies is endless problems. Misallocation of equipment, changing demand cycle, shorter delivery time, low price competition and high fuel costs are some of the major issues that complicate the entire distribution process. ERP software with well-defined logistics management offers the best solution by improving the visibility of deliveries, orders and inventory, and thus allows you to work quickly to control the costs of these core operations. This helps improve the accuracy and efficiency of processes, ensuring on-time delivery in line with customer expectations.
Picking and packing are the two main fulfillment functions in any distribution operation. At the same time, goods of any volume, large or small, are selected from the lot, then packed together according to the customer's instructions and sent to the appropriate destination. Your ERP solution should include adequate fulfillment functions.
Knowledge of inventory is one of the most important tasks for all wholesale distributors. The ERP software you choose should have an effective inventory tracking system that will allow you to better control your company's inventory management practices. It should be able to call accurate calculations, eliminate inaccurate paper documents, include a reverse transaction function, and provide greater flexibility to change adjustments when needed without any adverse changes to overall work efficiency. All this leads to timely satisfaction of purchase demand, reduced sales and reduced storage costs.
A proper understanding of how your business works leads to the most effective forecasting. An ideal ERP solution for deployment with powerful reporting tools can proactively transform your business data into more useful information. A pre-designed reporting system quickly configures information and gives you the precise analysis you need to view. This reduces manual reporting time and eliminates human error.
Whether part of a complete ERP package, customer relations, HR and finance management or accounting are important operations for any company, including distributors. By integrating an ERP solution with these management tools, one application is enough to provide a complete overview of back office functions, increase employee engagement and manage customer service more effectively. Comprehensive software allows business owners to align all processes with their business goals and better focus on the overall development of the company.