ERP for wholesale distribution: A Smart Solutions for your Business
The wholesale and distribution market is continuously expanding, which makes it inevitable for companies in this field to handle the various processes efficiently. Managing the warehouses and inventories, attending to the customers’ demands, processing the orders, and handling the finances are crucial aspects of the wholesale and distribution industry, and businesses must handle these processes perfectly to stay competitive and acquire prosperity.
This is where an ERP solution comes into action. An ERP for wholesale distribution brings about efficiency in workplace operations. Business owners are provided with an integrated platform for managing procurement, distribution, and sales. The ERP solution can also automate certain tasks to reduce manual efforts. Companies can gain real-time insights into their businesses and make well-informed decisions.
Here’s an overview of the role of an ERP system in the wholesale and distribution industry.
An ERP for the Wholesale and Distribution Industry: What is it all about?
An ERP for the wholesale and distribution industry is a software solution that can streamline industrial operations. It can optimise processes, increase business efficiency, and also harness data to allow you to make better decisions for your business. The ERP solution comes with a bunch of tools and features using which you will be able to attend to the diverse needs of your business.
The ERP software for wholesale distributors allows you to cater to your customer’s needs and offer you excellent visibility of your business. With an ERP solution, wholesalers and distributors can manage their inventories and reduce overhead costs. The ERP can also simplify production, quality control, supply chain management, and other complex tasks which require constant human intervention.
Challenges Faced by Companies in the Wholesale and Distribution Industry
Here are some of the challenges that the wholesale and distribution industry faces regularly:
Managing huge volumes of data
The wholesale and distribution industry involves dealing with huge chunks of data daily, and even the slightest mistake with data management can cause you big problems like missed sales opportunities, inaccurate inventories, etc. By implementing an ERP, you can ensure that your data is managed properly. You can also carry out your business tasks smoothly and efficiently.
Lack of collaboration
The wholesale and distribution companies have many departments, and maintaining proper collaboration between the different departments is again a challenge. With an ERP solution, all your departments can remain on the same page and work collaboratively. This will enhance business growth and give your business the desired exposure in this competitive world.
Managing inventories is a humongous task. Inefficient management of inventories can cause your business to suffer massive financial loss, and sometimes, the damage can even be irreparable. With an ERP for wholesale distribution, you can improve your inventory management process. You can reduce stockouts and also constantly monitor the workflows.
Inefficient workflows can reduce productivity to a significant extent. It also increases your overhead expenses. Using an ERP, you can easily boost your organisation’s efficiency. The various complex tasks can also be automated, reducing manual efforts significantly.
Significance of Implementing an ERP for the Wholesale and Distribution Industry
Implementing an ERP for companies in the wholesale and distribution industry has myriad benefits. A few of them have been discussed below:
Better inventory management
Inventories and warehouses are the backbones of the wholesale and distribution industries, and managing the inventories is a full-time job for business owners. You need to avoid understocking goods. You also don’t want your stocks to be overstocked. An ERP solution can easily handle all of these tasks. You can continuously monitor your inventory while also improving the consumer experience.
If you want to stand out from the masses and build a reputation for your company, you need real-time visibility of your organisation, which an ERP solution can provide. The ERP solution will give you better visibility over the various crucial aspects of your company. You can keep track of everything from a centralised platform. You can also delegate jobs to different departments for better output.
Efficient demand planning
Having access to the inventories’ status will help you make plans for the future. The distributors can replenish the inventory levels using the ERP for wholesale business. They can also carefully analyse historical data and carry out predictive forecasts. Companies in the wholesale and distribution industry can also take the help of an ERP to plan for their long-term growth and profitability.
Better supply chain management
Wholesale and distribution businesses specialise in managing inventories, warehousing, requisition of products, packaging, shipping, etc., and an ERP for the wholesale and distribution industry can be used to take care of all these processes. The entire supply chain can be managed by utilising the power of automation. The overhead costs can also be reduced, offering your business better growth and success.
Improved customer service
With an ERP solution, you can easily attend to your customer’s demands and requirements. You can also give your consumers a customised experience. They will be more eager to maintain a long-term relationship with your company. You will also be able to acquire a handful of positive reviews for your business.
Various Features of ERP for the Wholesale Distribution Industry
Sales and order management
An ERP system lets you monitor sales and orders from a single platform. You may also generate orders, process accounts, and create invoices. You will also be able to track sales performance and gain insights into the customers’ purchasing history.
Supply chain management
The ERP solution can streamline the complete supply chain. You can handle tasks like acquiring raw materials, manufacturing the goods, and exporting the finished products from a single platform. You will also have better visibility over important aspects of your business.
An ERP solution includes financial management functionalities. You can effortlessly automate accounts payable and receivable, financial report generation, etc. In addition, the ERP solution will provide you with real-time visibility into your financial performance.
Customer relationship management (CRM)
For most businesses in the wholesale and distribution industry, managing customers is one of the priorities. Without customers, the business would soon cease to exist. By using the CRM feature of ERP systems for wholesale distribution, you will find it easier to drive potential customers towards your business. You can also build a highly effective and customer-centric sales and marketing strategy for your business.
Human resource management
The employees are considered the foundation of businesses. For your business to operate smoothly, taking care of jobs like employee recruitment, onboarding, payroll management, etc, is important. All these can be handled using ERP software. You can also manually allocate employees to different departments without any hindrance. This again improves efficiency and accuracy.
How Can ERP Help Streamline the Different Processes of the Wholesale and Distribution Industry?
The complete procurement process can be easily monitored from a centralised platform using an ERP for wholesale distribution. The ERP can process tasks like managing purchase orders, tracking inventories, and maintaining customer relationships. This can help in improving your workplace efficiency.
ERP systems can be configured to completely automate the order processing task, which could otherwise have occupied a significant amount of time. You can automate processes like order confirmation, order tracking, etc.
Shipping and logistics management
The ERP solution deals with shipping and logistics processes. You can track the shipments directly from the ERP portal. This can help companies lower their overhead expenses and improve customer service.
Wholesalers and distributors need to supervise large inventories spread across multiple warehouses in various locations. When inventory levels fall, wholesalers and distributors face a tremendous challenge in running their business efficiently. However, with an ERP solution, you can automate inventory jobs, making it easier to manage stocks effectively.
Reporting and analytics
An ERP includes much-needed reporting and analytics functionalities. You can obtain significant insights by acquiring real-time data from numerous sources. You can also create customised reports based on your company’s needs and requirements.
You May Also Like to Read: ERP for Restaurant & Hospitality Industry: Recipe for Growth
Which is the best ERP for the Wholesale and Distribution Industry?
Oodo ERP stands out as the best ERP solution for the wholesale and distribution industry. It is a 360-degree solution that offers business owners complete control over their inventories and allows them to build enhanced relationships with customers and vendors. With Odoo ERP for wholesale in place, you can ensure that business operations are dealt with seamlessly.
Odoo has an integrated and modular structure. It has numerous modules to take care of different aspects of your business. Odoo also has enhanced integration capabilities. The ERP is easily scalable and has numerous customisation options. So, you can easily customise the features and functionalities of Odoo to offer your business the desired growth and prosperity.
How do you Implement an ERP for the Wholesale and Distribution Industry?
Understanding your requirements
You wouldn’t know how exactly you will implement an ERP in your existing business structure until you have an idea of your business needs. So, you must determine your particular needs before developing an ERP for your company. This will help in the fulfilment of your business goals.
Identifying the right ERP service provider
You must shortlist the most trusted ERP service provider for your company. Ensure that the ERP service provider has sufficient experience working in the wholesale and distribution industry. Only then can you get the best ERP software for wholesale distributors. You should also look for a company ready to offer a flexible, scalable solution. The company should also be able to customise the solution per your business needs.
You need to collect accurate data for your ERP solution so that it provides you with better results. Before feeding your database to your ERP system, you should consider deleting inconsistencies and duplicate items. You should also collect data from reliable sources only for the best outcomes.
Implementing your ERP solution
This is the stage where you implement the ERP solution for your business. The implementation stage involves integrating the various modules into your ERP system tailored to your company’s needs. You can also add different levels of customisation to the ERP solution.
Training your users
It is usual for your employees to be unfamiliar with the various functions of the ERP. So, you must conduct training sessions to make them aware of the different functionality and features. You can also provide them with user manuals demonstrating the various functionalities of the ERP solution.
Testing and launching
After the implementation phase begins the testing phase. The testing is done to remove all kinds of inconsistencies from your system. The ERP is then launched so that it can streamline your day-to-day operations.
How can Silver Touch help your business?
If you plan to implement an ERP solution for your business, Silver Touch is your best option. The company has over 25 years of experience in the industry, and they will implement the Best ERP for wholesale distribution that exactly meets your business goals. The experts at Silver Touch will acquire a clear understanding of your exact business infrastructure and will offer you an ERP solution based on that. The ERP solution designed by Silver Touch will integrate all your business functionalities into one platform so that you have better visibility over the various aspects of your business. This will help you increase your business revenue and expand your customer base.
Revolutionize Your Wholesale Distribution Business Dynamics
So, if you want to establish yourself as one of the most reliable companies in the wholesale and distribution market, it is time to switch to an ERP for wholesale distribution. Also, with Odoo ERP as your ERP solution, you can unlock the true potential of ERP and take your business to new heights within a short tenure.
FAQs: ERP for Wholesale and Distribution
Odoo ERP is one of the finest software for wholesale businesses. It comes with multiple industry-specific modules using which you can run your business smoothly. You can also customise Odoo ERP to ensure it fulfils your business needs.
An ERP in wholesale is an integrated platform using which you can manage your business operations and bring about profitability to your business. The ERP comes with various modules that are specifically designed for wholesale businesses.
With a powerful ERP solution, businesses in the wholesale and distribution industry can streamline their workflows, manage their inventories, keep track of their finances, and maintain a good relationship with their customers.