Empower wholesale distribution business with NetSuite ERP
Empower wholesale distribution business with NetSuite ERP
E-Commerce and m-Commerce have messed up the entire wholesale distribution industry. With digitization, the demand for online shopping has increased by leaps and bounds. Wholesalers are somewhere lost in between the chain of manufacturers and retailers.
With such a bleak chance of survival, the only thing that can work in their favor is sophisticated technology solutions. An integrated cloud ERP software – NetSuite solution, for wholesale distribution, would be the best option, helping with a seamless supply chain, faster delivery, and operational visibility.
NetSuite cloud ERP software is ideal for your wholesale distribution business. It helps you adjust to the changing market dynamics and customers’ demands. This article explores the benefits of the NetSuite solution to the wholesale distribution industry.
Why do wholesale distributors need cloud ERP software?
Cloud ERP software facilitates the digital transformation organizations need in competitive times of digitization. It provides you insights that help you to make decisions for the future. Below are the main reasons why wholesale distribution businesses need cloud ERP software:
- It provides an omnichannel experience.
- It provides in-depth information on every aspect of your business.
- It helps you make sound decisions to create satisfying experiences for retailers.
- It manages your inventory, improves sales and distribution, and ensures on-time delivery.
- You can trace each item from start to finish until its delivery to the retailer.
- You can improve your shipping times, simplify the billing and payment process, and smoothly exchange details with retailers.
- With high volumes of items involved daily, it gives you better accounting and financial management capability.
Features of NetSuite cloud ERP software, supporting wholesale distribution business
NetSuite ERP solution facilitates all processes for wholesale distribution and sales. Be it any sector, region, and business size, it efficiently manages your supply chain. You can handle all your business operations on a single platform.
NetSuite cloud ERP software allows you to have a centralized inventory management point. You can manage inventory from one point, even if you have many selling channels or warehouse locations.
The solution makes demand-based planning easier. It helps you forecast sales based on historical demand and seasonal fluctuations. With these forecasts, you can plan demand and manage inventory to abolish stockout situations or excessive blockage on working capital into inventory.
Also, the ERP software’s complete inventory visibility helps you manage it effectively. With a detailed view, you can know items that move fast versus those that move slowly. And then, you can plan discounts and offers for slow-moving inventory.
Wholesale distributors desire a faster and smoother order-to-cash process. And NetSuite’s cloud ERP software fulfills this desire with its automated workflows. Order managers enjoy a smooth process due to reduced administrative errors and a decline in manual efforts.
The NetSuite solution automates your processes of preparing quotes and converting them to orders. It also simplifies and automates invoice preparation and generates payment alerts. Thus, order delivery and payments happen on time, and retailers are happy.
One of the vital features of the NetSuite solution is that you can take orders from any channel. The software can manage your physical store, sales through partners, or web stores. You can also view channel-wise performance to track revenues separately. Thus, you know the cost of each customer and the lifetime value generated.
NetSuite cloud ERP software allows you to track the inventory in the warehouse. The solution has the feature of listing inventory with all details, such as lot numbers, serial numbers, and other features.
Such detailed listing helps you efficiently handle warehouse operations with complete information in real-time.
You can improve your efficiencies by analyzing the metrics tracked by the NetSuite ERP software. It helps you measure inventory turn, inventory-to-sales ratio, and inventory costs. You can monitor the performance of each of your warehouses, and the staff deployed there.
A wholesale distributor would want to have control over the sourcing process for better supplier relationships. NetSuite ERP software makes this possible, reducing your procurement costs. It also gives you control by providing complete visibility of your list of suppliers and orders.
NetSuite ERP software builds a smooth sourcing workflow from “order to pay.” It creates a centralized procurement repository to ensure you follow all purchasing policies. The solution also has a supplier portal that facilitates real-time vendor collaboration.
You can automate generating procurement orders aligned with your sales forecasts. It will reduce your lead time and make your sourcing smoother and cost-effective.
NetSuite cloud ERP software makes your sales cycle seamless and efficient. It helps you close your deals rapidly with minimal manual processing, increasing your sales volume. Your sales department becomes more productive, generating higher revenues and managing customers better.
The NetSuite solution allows you to create flexible pricing for your products. You can segment pricing based on customers, add offers and discounts, and update prices when required. Automating pricing strategies and complete visibility of pricing schemes helps you maximize your ROI.
The solution also gives you complete visibility of prospects, leads, and customers. It helps you plan your sales strategies accordingly and track customers’ journeys. Such visibility improves collaboration between different teams, driving productivity.
NetSuite cloud ERP software perfectly organizes your orders, picking, packing, and shipping processes. It helps you control the process of fulfilling your retailers’ orders. These well-defined workflows help you deliver items on time while reducing shipping costs and increasing customer satisfaction.
The NetSuite software allows you to keep several shipping options to satisfy all your customers. You can manage them all, offering customers a preferred solution and increasing their loyalty toward you. You also have the option to bill freight charges in the total product cost or separately as your customers wish, and that can be managed well with the NetSuite ERP solution.
Managing the financials and accounts of any business is crucial. The NetSuite cloud ERP software for wholesale distributors helps you with it. It gives complete visibility of your financial performance to help you control and manage it effectively.
It automates your data entry into accounts, saving time and reducing errors. With NetSuite solution, you can rest assured as you will remain compliant with applicable accounting standards and other statutory requirements like taxation. You can track several metrics to measure your performance, analyze them, and improve.
It helps you manage all your marketing campaigns and related activities and metrics. The NetSuite solution can handle marketing campaigns from their planning to successful implementation. You can collect, store, and analyze customer data to customize your campaigns.
It also helps segment customers into leads, prospects, and customers based on their interest levels, allowing you to customize your campaigns. You can send relevant information or offers through automated emails to engage with the right set of customers at the right time.
Such personalized engagement helps you increase your campaign’s ROI and customer relationships. You can measure these campaigns’ performance by defining metrics on the NetSuite ERP software.
The solution also gives complete visibility of customer data, allowing you to explore new opportunities.
You need the right platform to support your omnichannel requirements in the existing competitive world. NetSuite cloud ERP software helps you engage with your customers and suppliers on every channel without hiccups.
NetSuite solution manages your operations in physical stores, online portals, and cross-channels. You can provide hybrid experiences to customers as per their preferences. The solution has a single source of customer data, ensuring effective management of customers and, at the same time, providing an interactive buying experience.
Your retailers get easy access to check their accounts on your NetSuite solution. They can track the order status and request changes if needed. They can also submit forms for inquiries for speedy responses. Thus, you can create an exceptional omnichannel experience for your customers.
A critical feature of the NetSuite ERP software for wholesale distributors is its support capability. This exciting feature supports the customer services team, ensuring effective utilization of the solution’s capabilities and improving customer relationships. The customer services team can manage customer complaints, track the response, and ensure efficient returns.
You can have a 360-degree view of each customer, helping you improve customer service. This view helps you take immediate action when customer tickets are escalated. You can track their requests, allocate technicians, and support them at the earliest.
The solution also has a self-service customer portal that helps you save time. Customers can access FAQs, get their queries resolved, and track their cases and orders.
Benefits of NetSuite cloud ERP software
With the feature of managing all critical operations of your wholesale distribution business, NetSuite is the best solution for you. It aligns your business with the changing market trends and demands.
NetSuite ERP generates a real-time view of your operations, helping you make decisions. You can predict customer demands and manage inventory to meet those demands.
NetSuite automates processes that help improve productivity and reduce manual efforts and costs. The end-to-end capabilities of the solution ensure last-mile delivery with complete monitoring of the distribution cycle. Also, you can engage with customers anytime and anywhere through omnichannel capabilities. All these benefits help you satisfy your customers better.
Thus, NetSuite cloud ERP software for wholesale distributors helps you:
- Engage with customers on any channel on a real-time basis to meet their expectations.
- Run all the wholesale distribution operations on a single platform with ease.
- Have a complete view of your customer’s data to provide quality items and support.
- Gain complete knowledge of all your departments, warehouses, and teams and their performance.
So, get the NetSuite cloud ERP software for your wholesale distribution business now. You can take the help of a NetSuite implementation partner for guaranteed quality NetSuite services.
Partnership with Cloudiotech
Cloudiotech is a leading NetSuite partner in the USA and the UAE. We help wholesale distributors with the NetSuite solution and related services to help them achieve their business goals. Our expertise and knowledge enable us to customize the solution as per your needs.
Our implementation, integration, NetSuite customization, and support services ensure the realization of maximum benefits from NetSuite. We also train your employees to use the solution to explore its power thoroughly. If you want to achieve such cost efficiencies, get end-to-end NetSuite services from Cloudiotech.
Running a wholesale distribution business just got easier with the NetSuite solution.
Contact the Cloudiotech team for more details.