As a wholesale distributor, there are a long list of challenges you'll face - from fierce competition to supply chain disruption. Nothing can make those issues go away. However, your choice of enterprise resource planning (ERP) software could be critical to getting over these hurdles.
In this post, we'll outline the features you should expect from the best ERP system for wholesale distribution and how Profit4 measures up.
The benefits of Wholesaler ERP Software
Staying in control of your stock
Stock control is at the very core of wholesale distribution. Tackling it manually or using basic software can prove difficult. How do you monitor stock across several different bins or even sites? And how do you know if stock levels correspond to demand?
All too often, distributors will stock up on a product because it's running low only to find that it's taking up warehouse space for months to come. In contrast, you might ignore another abundant product, only to run out when a big order comes in.
Profit4 has an intuitive stock control system that auto-calculates optimum stock levels, so you know what to order based on demand. It also provides real-time stock counts for as many locations as you need, so you're never on the back foot when clients come calling.
Managing supplier relationships
Even with good stock management, the supply chain can cause unexpected issues for wholesale distributors. Suppliers might increase their prices or run out of stock altogether. Unless you're manufacturing your own stock, it makes sense to maintain good relationships with multiple suppliers wherever possible.
This is another area where your ERP system can help. Or at least it should be. With Profit4's supplier management features, you can quickly import supplier price changes and view how they impact profits. So, you can switch suppliers or adjust your own pricing accordingly.
It also keeps all supplier information in one place, including contact information for multiple contacts, communications, credit limits, payment terms and historical order data.
Processing orders seamlessly
Now to the bread and butter of wholesale distribution - order management. This is an area where the best ERP system is truly invaluable. As a minimum, your chosen ERP software should be quick and easy to use so you can input orders while you're on the phone with a customer - as well as integrating with your trade counter, website or other online store(s) to instantly bring orders across.
Profit4 goes beyond this. Real-time updates give you full visibility of what's available, assigned, allocated and dispatched so you can update customers when needed - or even move stock around if you want to prioritise a particular customer.
Something out of stock? Let automation take care of purchasing for in-demand items then allocate stock for back-orders. You can even set up minimum levels for different products, so the system automatically places an order with the supplier. By keeping bestsellers in stock, you can ensure you're never missing out on sales.
