3 Ways to Use Technology to Grow Your Wholesale Business
- 05 Nov 2019
1. AutomationAs a wholesaler, automation can have a significant impact on profitability in literally every area of your business. From Customer Relationship Management (CRM) software to automated warehousing equipment such as warehouse picking and retrieval robotics, automation can work seamlessly in the background. You will be amazed at all the tasks and processes you can automate within your company. In terms of time and cost-effective warehouse operations, nothing compares with automation. Also, CRM automation helps keep those B2B relationships alive through such things as automated emails, social media posts, and text messages. It’s amazing just how much time you can free up by utilizing automation within your distributorship/warehouse operations.
2. Project ManagementManaging your production projects is very important. Unless you keep a handle on your costs, targets, and schedules, it won’t be long before you start to understand the meaning of “scope creep”. This is where project management tools come in handy.
This type of technology is in place to help plan and organize your warehouse operations, front and back end while proving to be a powerful resource in terms of managing resources. Whether you seek to build and maintain B2B relationships or manage operations within your distribution center, this is one piece of technology that can keep operations running smoothly. To get an idea of just how much you can accomplish when using project management tools, check out the leading project management software here.
3. Big Data and Business IntelligenceThere isn’t a business today that is not reliant on big data, analytics, and business intelligence. There isn’t a market on earth that isn’t competitive to some greater or lesser degree and this makes it necessary to continually monitor your market. Whether you are a wholesaler of perishable goods or garments, analytics software enables you to achieve a high level of market monitoring so that you are stocked with goods forecast to move (predictive analytics). Remember, as a wholesaler or distributor, you ship in bulk. It is necessary to keep abreast of your particular market so that you can stock accordingly. If your B2B customers can’t find what they need at your warehouse, they will look elsewhere. The most effective way to maintain in-demand stock is to monitor the market and this means data analytics and business intelligence technology.
Of prime importance is to realize that dealing with other businesses means you need to be on top of things in real-time. You are just a link in the chain from production to the end-user, so if your link is broken, the entire chain fails. You never want to suffer the consequences of being the missing link that can bring your business tumbling down. If you want to grow your wholesale business, put technology to work for you.