There will soon come a time when you won’t be able to talk about the retail or wholesale industries without also discussing the technology that’s making them come to life. Whether front-facing to consumers or behind the scenes, technology plays a growing role in retail and thus, wholesale as well. The question, of course, is why does tech truly matter for wholesalers?
To explore more of why technology can bring value to wholesalers, consider the below three points.
#1: Tighter Supply Chains
A single view software solution can help to identify and correct operational errors, therefore helping your businesses deliver on their processes quickly and without a hitch.
In fact, Deloitte reports that “where the rubber meets the proverbial road is in operational optimization - where the potential to improve business processes reigns supreme. In many retail environments, dramatic revamping of demand and supply chain strategies is oftentimes a key lever to pull - especially when adjustments are required to support new business models or innovation initiatives.”
By improving your supply chain operations, you can give your wholesale business an advantage over competitors whose operational processes may still be stuck in the past. And as more businesses invest in tightening their retail and wholesale operations, investing in software will become a necessity for wholesalers to remain relevant and meet the demands of their merchants.
#2: A New Level of Transparency
To create a competitive wholesale operation in this day and age, you have to be transparent with your clients and with your employees.
One example of how creating a transparent retail-wholesale operation can better equip your sales reps for success comes from DigitalistMag, who shares that, “suppose a distributor receives social media feedback from a franchise product within its retail structure. That distributor immediately forwards this information to its network of sales representatives around the world. All these reps, regardless of location, are able to update their talking points when in conversations with customers.”
While this is just one example of how giving your front-facing employees access to information - such as customer reviews, shipping info, inventory levels, etc. – can ultimately enable them to increase your company’s profitability, it’s a great example of how real-time reactions impact wholesale businesses. In reality, there are many ways that boosting transparency across your supply chain can increase your company’s profitability – yet the key here is making sure your wholesale business has the right technology to make these reactions happen.
#3: Immediate Mobile Access
Mobile introduces a lot of value for wholesalers aiming to be transparent for two distinct reasons. First, sales reps need to be able to access back-of-house information such as inventory levels, prior customer orders, etc. when they are meeting with clients and immediate, accessible access to this information can help sales teams do this more effectively.
As a result, this also means they will be able to be more successful in selling – a winning opportunity for wholesalers. This also reduces the risk of wholesale reps selling a product or style that is not in-stock and equips sales teams with the client and product information they need to do their job as best as possible.
Second, the benefits of mobile extend well beyond boosting the effectiveness of your selling team. As leaders in the wholesale space, it’s critical to have access to inventory, sales and shipments, customer accounts, and more at anytime from anywhere. Remote access to this pivotal company data is beneficial for all decisions necessary to make as a leader in the wholesale space – keeping companies more informed for stronger real-time decision making.
As a result, mobile should not be second thought but instead top your priority list when it comes to finding the right tools to effectively manage your operations.
The right back-office solution can help wholesalers create more transparent and more seamless wholesale operations. However, these technologies work best when they are custom-fitted for the wholesale business model. Using a software solution that is made for wholesale operations, such as Brightpearl, can enable wholesalers to better meet and exceed clients’ expectations for an efficient, attractive and error-free ordering process. Brightpearl gives you immediate access to every aspect of your business operations, so you have the competitive advantage of automation at your fingertips… wherever you are.