Wholesale distribution in the modern world has several challenges, from keeping with the ever-changing consumer demands to handling the different supply chain fluctuations. Most of these firms leverage technology to streamline the processes involved. However, these configurations prove ineffective when working with outdated or separate systems.
An all-in-one wholesale distribution ERP is the solution to streamlining and optimizing your operations. Recent research by the Aberdeen Group revealed that 83% of wholesalers and distributors use ERP and are very happy with the results. It provides comprehensive visibility over your processes, making it easy to meet complex demands and manage complex challenges.
Why Manage your Wholesale Distribution with an All-In-One ERP
Wholesale distributors must understand that implementing an ERP over spreadsheets and stack programs is the best approach to intelligent operations. An all-in-one solution like GoldFinch helps manage inventory while streamlining core functions like stocking and record keeping. It also makes forecasting and demand planning more effective by balancing your inventory levels with market demand.
If you want to implement innovative distribution, then an all-in-one ERP is what your business needs. The following are eight benefits of having an ERP manage your wholesale distribution processes:
Reduced Operating Costs
Cost is a significant consideration in distribution, and wholesalers are always looking for approaches to reduce it and increase profitability. A practical approach to reducing operational costs is workflow and process automation.
ERPs automate the most tedious and time-consuming distribution processes, increasing efficiency and productivity. It also reduces costs by streamlining information flow across the departments involved, from finance to warehouse and logistics. Improved flow of information means you’ll be more accurate in your forecasts, inventory management, and supply chain function.
Streamlined Supply Chain
Distribution is intertwined with the supply chain, and some aspects of wholesale distribution remain constant for all businesses. They include product procurement, inventory management, packaging, and customer delivery.
Having an ERP means most of these processes get automated. For example, solutions like GoldFinch help restock materials by tracking your inventory levels and proactively warning you of potential stock-outs. By providing you access to real-time data, your team gets better visibility of the supply chain processes.
Improved Inventory Management
Another benefit of smartly managing your wholesale distribution processes is improved inventory management. All businesses in this industry should understand the importance of having enough inventory to satisfy the current demand.
ERPs tailored for wholesale distributors provide the necessary tools to keep track of inventory levels and plan for reloads. Since all the information is in one database, managing inventory is more manageable regardless of location. You’ll also find it easier to forecast demand and improve your procurement function.
Tighter Stock Control
Most of the processes involved in controlling stock are manual, which means they are more prone to error, consume a lot of time, and are tedious. An ERP automates these processes and makes managing and tracking your inventory easy.
These solutions keep all company data in centralized storage. It makes it easy for your procurement and warehouse teams to coordinate and ensure enough inventory to satisfy demand. You will no longer have to switch between databases to forecast demand and plan for purchasing.
The backbone of every distribution business is how the different departments interact and share information. You must seek to empower your teams with the necessary tools to communicate and share real-time updates for smooth function seamlessly. However, it might prove challenging since many moving parts are involved.
Implementing an ERP to help with the distribution provides your team with a clear communication channel. The software stores all interactions in a common platform, making information sharing, retrieval, and follow-up effortless. Your employees will get real-time updates across the different departments without having to share emails or other related documents.
Improved Quality Control
Another reason to consider an ERP for wholesale distribution is the significant improvement in quality control. The solution improves inventory management by leveraging technology like lot and batch numbers to track and manage inventory. Access to this information means you are better positioned to identify issues in the supply chain early. The information transparency guaranteed also contributes to improving overall quality control.
Improved Customer Satisfaction
Wholesale distributors are critical components in the supply chain. How they operate will significantly determine a consumer’s decision to buy a product. These firms need to invest more in ensuring their customers are satisfied.
ERPs help your business make more meaningful engagements by utilizing personalized approaches for each customer. Note that the solution can access specific customer information like order history and past interactions, which helps create customized campaigns. You’ll also find it easier and faster to solve customer queries with access to real-time data.
Better Demand Planning
Leveraging ERP to manage your wholesale distribution function also improves demand planning significantly. The software guarantees your team access to updated information on the holding, incoming, and outgoing inventory, allowing them to plan for inventory better.
Solutions like GoldFinch come with features that automate the stock replenishment efforts. You can automate orders when inventory hits specific levels by enabling the system to automate stock reloads. It also evaluates historical data and anticipated demand before making the order.
GoldFinch is an all-in-one effective solution for all wholesale distributors. It is among the few solutions that empower companies to achieve an efficient and unbeatable distribution process. By understanding the industry’s various challenges, they create a system specific to the complex industry needs.
It comes with complete inventory and distribution features, and you don’t have to operate with multiple apps as it integrates with other software like Salesforce. The Salesforce integration allows you to manage all distribution operations in real time with an all-inclusive ERP and CRM. GoldFinch is also easy to install, ensuring a fast deployment while minimizing implementation cycles, risks, and costs.
All wholesale distributors need ERPs to optimize their operations and increase profitability. The solution provides your team dozens of benefits, from increased visibility to reduced operating costs. Reach out to GoldFinch ERP today and start the successful journey of your wholesale and distribution business.
Want to learn more? Contact us to get started.