It’s always preferred to buy directly from the source, but that isn’t possible always- due many formalities and procedures involved like bulk-purchase caption or contract-purchase caption. For this reason, wholesale business owners tie up with distributors who purchase in wholesale quantity and sell it to their high-end customers.
While some of the wholesale enterprises have made some strides in their sale management processing- adopting the latest methods, there are many who are still following the traditional way of managing sale process for every order they receive.
If your are in wholesale business, sales management processes are getting even more complicated that no owner in this 21st century should have to deal with in those old ways.
Three steps to ensure efficient wholesale sales management flow
1. Find a profitable service area
Once you know your audience and aware of your target audience, selecting a niche service area, becomes very important for a successful sales order flow. Wholesale business owners need to find ways that allow them offer a unique value to their customers, including excellent customer service and cost-saving benefits.
For instance: If your wholesale business is in selling of printers, that requires specific technique and a cartridge refills. Such kind of business allow owners a niche service of educating their customers, who in turn, can provide knowledge to their end customers about the function and benefits of the printer.
In other words, it does not matter what you sell, it matter how you are selling.
2. Adopt a sales order management system
In today’s competitive business era, companies who are still following the manual method of capturing and processing sales orders, are losing time, effort and cost. Some companies choose to stock products as and when a customer places an order, while many run with very low inventories- resulting to the loss of major sales orders. Order management system automatically captures orders coming from multiple sources and brings them at one place, from where you can easily enjoy an automated and streamlined sales order management flow.
For instance: If you receive sales orders from multiple suppliers on a daily basis, imagine how much resources will be used behind those manual entries and creating packing slips for each one, individually. A good order management system will not only bring all your sales orders at one place, but also, helps you create and print multiple shipping labels by the click of the mouse.
Adopting cloud-based software solution will help you automate crucial order processing, which is important to maintain a consistent sales order flow.
3. Forecast sales and stock inventory
Another important factor, is to determine sufficient storage of stock for adopting a smooth wholesale sales order process. If you choose not to stock up, chances of being out of inventory when the customer places an order, increases. On the flipside, for those who overstock may find it difficult to get rid of the merchandise they thought would be in demand. Tracking your sales order pattern will make it easy to analyze your customers demands and you can forecast sales and stock inventory in the right amount.
For instance: During busy days or holidays you’ll experience rush of orders, and stock-out situation can create a bad impression- as your are unable to process your customer’s orders, whenever needed the most.
Investing in an order management system, will help you gain real-time insights of your sales history to understand and forecast your customer’s needs, all in an effort to sufficiently stock inventory for your wholesale business, always.
Wholesale business owners who have adopted technology for their sales order processing, are already gaining competitive advantage in this year 2015.
So what are you waiting for?