5 Dimensions to Wholesale Operations Management
Managing a wholesale operations is a lot like managing a retail operation, however, there are some differences. The following 5 dimensions to operating a wholesale chain can be managed with the right software solution.
- Open-to-Sell – The open-to-buy paradigm has worked for retail environments for years. Open-to-sell is a better ordering system for wholesale operations for a number of reasons. For one thing, your entire sales staff can see your inventory at a glance, right down to the SKU level. You can move your stock around quickly when you need to.
- Order management – Few things can kill a wholesale operation more quickly than not being able to manage your orders. Take control of your vendor relationships, payment returns, ship-to locations, and all the parameters you need to track accurately.
- Productivity Reporting – A productive staff is a profitable staff. By getting real-time reports on your staff’s productivity levels, you can compensate fairly for their production and make your wholesale operation more profitable. Not only that, but you can have eyes on historical data so you can engage in more meaningful annual planning.
- Credit Alerts – Keeping your credit system integrated with your accounting system is paramount to wholesale profitability. You should be able to see delinquent accounts at a glance. If a customer has a poor credit rating and requests more credit, you can act quickly and make the approval and decline process more efficient and profitable.
- Discount Rules – In wholesale, you need to be able to reward your bulk customers with discounts based on the amount of purchase. Set your own discount rules based on volume, customer status, and more. Discount rules help you manage your customer relationships and your product and pricing strategies.
Every wholesale operation needs accurate reports and real-time analytics in order to stay profitable, productive, and efficient. ChainDrive’s Whole Management Solution kills all of those birds with one stone.