Closing the information gap is a priority for the modern distribution business. The on and off lockdown restrictions paired with the usual fluctuations in customer demand require distribution businesses to be agile. Now more than ever, it is crucial to have an industry-specific system that enables you to keep up with customer’s ever-changing needs while streamlining the management of diverse and complex inventories. In this guide, we discuss digital transformation for wholesale distribution businesses.
End-to-end visibility, data intelligence, and speed are vital to maintaining a successful supply chain in the increasingly digital economy. Ask yourself, is your legacy system smart enough to offer the insight and visibility you need to maintain a sustainable competitive advantage? Success in the digital ecosystem requires fast, efficient, and customer-centric distribution. Adding to the unforeseen circumstances caused by the current pandemic, distribution businesses can not afford to carry excess stock. Neither can you afford to understock. It’s a delicate balance, which is why you need an intelligent system like Sage Intacct for Wholesale Distribution businesses.
There is one cost that we overlook in our efforts to boost our bottom line. The cost of inefficiencies. Distribution businesses require a system that enables them to avoid carrying excess stock that cuts into profit and revenue. At the same time, it takes a single “I’m sorry, but we’re out of stock” to find yourself with a negative Hellopeter review that dents your reputation and causes future losses in revenue.
Investing in a system that enables you to protect your market position by empowering you to improve customer service and deliver a superior value chain experience is non-negotiable. With insight into opportunities to amend inefficient operational processes, you can eliminate the cost of inefficient workflows and generate increased revenue.
Closing the information gap is a top priority. Why? Distribution businesses can not afford to lose track of goods at any point between production facilities, warehouses, and transportation hubs. This is a key contributing factor for consistently meeting customer demands, on time. The ability to trace the location of goods at any point along the supply chain with accuracy and in real-time is invaluable.
Out of sight, out of mind. So, always-on visibility ensures that you never leave any stage of your distribution cycle unattended. Being able to track and trace your processes, suppliers, and customers at all times is crucial to ensuring that delivery schedules are met in the most efficient – and sustainable – manner possible.
Distribution businesses are money management businesses. They source products from suppliers, store them until they’re sold, and transport them to customers. Taking cash, turning into inventory, and back to cash again.
The longer the inventory sits in your warehouse, the more it costs. So, the quicker the cycle, the better the profitability. Learn more about Sage Intacct for Wholesale Distribution businesses. A cloud solution that shortens the cash cycle, reduces order times and offers accurate tracking of true costs for distribution businesses.
Digital transformation for wholesale distribution businesses is no longer just a topic at the water cooler. It is an essential part of ensuring your business is ready for today, and the future.
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