3 Things Wholesale Suppliers Must Do
Without wholesale suppliers, retailers would have to change their industry. In many businesses, the line between wholesale and retail gets blurry as the two industries adapt to the changing market. That’s why an integrated retail management software platform has a wholesale management component specifically designed to let wholesale suppliers track, monitor, and manage their operations optimally.
ChainDrive utilizes a centralized database that keeps all the information in the business in one secure location. That enables real-time status updates right down to the SKU level on inventory. Knowing exactly what products are committed and what is unsold means that anything open to sell (OTS) is internally accessible. OTS is an important tool in wholesale because it maximizes the usability of your inventory.
wholesale management-Monitor Activity
Productivity reporting in real time is another advantage of the centralized database. ChainDrive integrates your compensation model the way you choose, sending sales data immediately to the integrated accounting model. People are paid appropriately. Since the statistical database maintains true historic data, comparative analysis is accurate.
Keeping an eye on order status, payment terms, vendor activity, wave based distributions, and more is simplified when all the details are available. See what is happening by filtering for specific clients or vendors or products to analyze appropriately. This flexibility is essential in order to monitor activity accurately and effectively.
Wholesale management, if done optimally, tracks inventory and monitors activity. But more is needed; the ability to intervene when necessary. Maintaining your wholesale goods catalogue requires locking or unlocking prices and discounts. Automatic credit alerts and invoicing simplify order management because no manual intervention is required until an alert is triggered.
Delinquent accounts or poor credit standing alerts lets you control whether or not a shipment should take place. Limits and pertinent notes are easily added to specific client accounts for future reference. Clients in good standing can be easily rewarded with volume rebates or unique discounts. All selling cost influences are available for analysis and action.
ChainDrive Wholesale Management
ChainDrive Wholesale Management has been “specifically designed to provide the tools you need to track, monitor, and manage inventory, vendors, and overall operations with ease.” It also is easily customized so that your wholesale business can function in the way that gives your unique enterprise the most productivity and profit.