6 Must-Have Features in an ERP Software for Wholesale Distributors
The need for a powerful ERP solution is inevitable to manage the unique requirements of wholesale distribution businesses. Careful spending tops the priority for companies to stay competitive. In order to do this, management must have a clear view of stock (quantities in, numbers out, surplus, and deficiency) to manage the operational expenses and balance them with the monthly revenue. This is tricky and requires a rigorous tracking of the whole inventory and its movements. Only a reliable and comprehensive application can simplify the processes and optimize the key details. Here are the six must-have features in an ERP software for wholesale distributors that can improve the efficiency of the business processes.
360-Degree Purchase Optimization
The ability to efficiently process orders on time is the winning point for any distributor. To make this happen, all operations are expected to perform adeptly. Distributors often struggle with managing inventory and purchasing to ensure proper stocking levels, and timely incoming and outgoing of products. An ERP system enabled with a 360-degree view of the purchase cycle can perform the task without a hitch. This feature brings multiple advantages to the company including improved customer service, time-savings, and lower administrative/ accounting costs. It offers a comprehensive view of every purchase-sales information, which helps you know the strength and weakness of your business as well as forecast on what would keep it flourishing in the future.
Well Defined Logistics Management
The one thing common in all wholesale distribution businesses is the never-ending challenges. Improper machinery allocation, changeable demand cycle, shorter delivery time, low-price competition, and high fuel costs are some of the major challenges that complicate the whole distribution process. An ERP software with well-defined logistics management offers the best solution by enhancing visibility across the shipments, orders, and inventories and thus enables you to work quickly to control the costs around these major operations. It helps in improving the accuracy and efficiency of the processes, ensuring on-time deliveries to meet the customers’ expectations.
Effective Order Fulfillment
Picking and packing are the two major functions of fulfillment in any distribution operation. In this, goods of any volume, large or small, are selected from shipment, then repacked together according to customers’ instructions, and sent to the relevant destination. Your ERP solution must include adequate fulfillment functions. This would let your business work quickly, with perfection.
Robust Inventory Tracking
Knowing their inventory is one of the most crucial tasks for all wholesale distributors. The ERP software you choose must have an effective inventory tracking system, which can enable better control of the inventory management practices in your establishment. It must be able to induce accurate counts, eliminate inaccurate paperwork, include reverse operation feature, and provide greater flexibility to adjust corrections when needed, without bringing any unfavorable change in the overall operational efficiencies. All these lead to the on-time fulfillment of customer demand, lesser lost sales, and reduce inventory holding costs.
Proficient Reporting Tools
Getting a proper insight into how your business is performing leads to the most effective forecasting. An ideal distribution ERP solution with effective reporting tools can actively turn your business data into more useful information. The pre-designed report system quickly customizes information and provides you with the precise analysis you require to see. This reduces the time of manual report generating and eliminate human error.
Integrated CRM, HCM and Accounting Management Tools
Whether or not a part of full ERP suite, customer relationship, human resource, and financial or accounting management are critical operations for any company, including the distributors. By having an ERP solution integrated with these management tools, a single application would be sufficient to provide complete visibility to your back office functions, increase employee engagement, and manage customer service more efficiently. The comprehensive software allows establishment owners to align all the processes with their business goals and have a better focus on the overall development of the company.
If you are on the lookout for solutions endowed with aforementioned features, you have reached the right place as Focus ERP software helps you with all things needed to efficiently manage the business operations, thus, enabling you to save time and control operational costs.
Since 26 years Focus Softnet has been developing and implementing industry-grade ERP solutions for businesses of all scales and verticals, in 17 countries across the globe. To know how Focus ERP can simplify your business operations, fill out the form and get a free demo.