5 Factors Of Wholesale Management Success
Wholesale management software enables a challenging, diverse task to be accomplished with success. But that success only happens with the right software and the support to back it up so your team can continue to achieve that success. In order to operate at top efficiency, there are at least 5 factors to make sure you are including:
- Open-to-Sell (OTS) is critical to wholesale because uncommitted inventory could be your next order — IF your sales force or agents knew it was there. Look for software that provides real-time status on all inventory down to the sku level and makes it available to the right people.
- Order Management should include control over order status, payment terms, ship-to locations (all of them), special conditions, etc. It should also allow automatic linking to manufacturing purchase orders and the ability to segregate, analyze, and report.
- Productivity Reporting on all sales representatives or agents should link to accounting, have user-definable rules, and enable evaluation of performance and compensation so that effort is rewarded, year after year.
- Credit Alerts should also link directly to accounting, alerting potential problems with delinquent accounts or poor credit and allowing measures to take place so the accounts receivable maintain good standing. Look for the ability to set limits and include pertinent notes.
- Discount Rules need to be within your control. Volume rebates, client specific discounts, selling cost influences, and more, need to be flexible in order to manage client accounts, net gross margins, and your true bottom line.
Each one of these factors is part of the ChainDrive Wholesale Management component. This software has been expertly designed to be uniquely suitable for the challenges of wholesale management as well as retail. Success is accomplished with the right software, and ChainDrive equips you to do it.