Thinking Of Expanding Into Wholesale?
Today’s retail market necessitates expanding into channels that previous generations of retail businesses ignored or were unaware of since the technology hadn’t been invented yet. Makes it exciting to be in retail today, doesn’t it?
One of the logical expansions for a retailer is moving into wholesale.
Wholesalers provide a major benefit to distributors by acting as a holding platform between the bulk orders required by manufacturers and the smaller orders distributors need to be able to make. The wholesaler gets the bulk discounts and holds the items for many distributors, facilitating an effective flow of product to the shelves. Distributors do not have to tie up their Open To Buy(OTB) allocations and everybody profits.
OTB is important for retailers and distributors, but Open To Sell(OTS) is its counterpart for wholesalers. It is critical to have a real-time status on all inventory so your wholesale holding platform works to your benefit. ChainDrive’s Wholesale Management tool allows accurate status details on all your OTS inventory. That way, things you thought you had don’t fall into the “oops” category when orders come in.
The retail/wholesale market is blending with the advent of the direct-to-customer wholesale stores, like Costco or BJ’s. This blending of categories makes things like OTB and OTS a bit elusive unless you have a way to accurately keep track of all your data. The Integrated Retail Management System that ChainDrive offers has a Wholesale Management component that meshes with the rest of the software to provide a way to keep tabs on everything so you don’t need to have an “oops” category.
Expanding into wholesale might be one of the best ways to keep your business competitive, if you use ChainDrive. Let us show you what is possible.