The wholesale distribution process is seldom static. New technologies are constantly coming into the picture, bringing with them fundamental changes in the way distribution flows. Then, there are things like supply chain disruptions, such as those caused by the COVID-19 pandemic, that greatly influence the ways in which producers and supply chain managers handle their distribution networks. In other words, the future of distribution is ever-changing, and it can be a lot to keep up with. Fortunately, Acumatica can help! In fact, the challenges of recent years offer opportunities to experience growth and innovation in the distribution industry.
Distribution and Opportunities in Wholesale Distribution
2020 certainly made a name for itself, and the subsequent years since the pandemic began have been an interesting experiment in handling distribution challenges. The world has encountered seemingly endless changes and challenges in the last three years. As distributors work to stay competitive in this environment, many companies have had to make the tough decision to greatly alter their operations’ processes.
With that said, all this change does offer opportunities to make your company more dynamic, resilient, and efficient. This flux ushers in the occasion to prepare your employees and business overall to prosper in the long run, even after the scary headlines of today become yesterday’s news.
As we dive deeper into this topic, you’ll learn ways your wholesale distribution organization can shine, regardless of the disruptions going on around it.
Mobilizing the Omnichannel Experience
Omnichannel distribution methods weren’t born during the days of the pandemic, but their use certainly skyrocketed when COVID-19 and the lockdowns that ensued came onto the scene. It wasn’t long ago that having the ability to provide digital transactions to customers and suppliers was a luxury feature. Today, it’s gone from a nice-to-have to a must-have. Virtual distribution nearly immediately became a major part of the future of wholesale distribution when the world shut down.
Virtual distribution can be broken down into two forms:
- Selling a digital service (versus a physical product)
- Delivering a physical product through a virtual channel (such as an eCommerce platform)
If your wholesale distribution company buys and sells physical goods, it’s a good idea to combine virtual and traditional distribution methods into a high-quality omnichannel experience. In doing so, you’ll set your business up for a promising, well-balanced pathway into the future. This approach, particularly when paired with a robust eCommerce software platform, gives you the freedom to engage with customers and suppliers in various ways, depending on how they prefer to interact with you. This creates a win-win scenario for you and the people you do business with.
Every industry, including wholesale distribution, is becoming more and more dependent on data to make informed business decisions. As such, your organization needs to prioritize company-wide connections and interdepartmental exchanges of information. Given today’s rapidly changing dynamics regarding international relations, supply chain obstacles, and geopolitical situations, it’s ever more important to remove siloes and allow for the easy transmission of information within your business.
If your teams are disconnected, your data begins to live in siloes, making it difficult (or impossible) for departments to communicate with each other, often causing information to be inaccurate or duplicated across teams. This type of poor data storage system wastes critical resources and often leads to an uptick in errors and downtime.
However, if you implement a business management system to combine workflows, information can easily be shared across departments throughout your entire organization—all automatically available and updated in real time. Bringing this type of system into your business allows for improved data visibility and business intelligence—both of which lead to more informed decision-making processes.
Embracing the Power of Data
The data revolution is here, and your wholesale distribution organization needs to embrace it. With Acumatica Distribution Edition on your side, you can track and analyze data like never before, including interactions with customers, conditions of shipments and products, alterations to market variables, and regulation changes.
When you unleash the power of data analytics throughout your business, you’ll uncover insights that will enlighten you and provide your teams with actionable insights that will make your organization better.
Staying Local while Growing Globally
Recent years have certainly shown us how unique demands and disruptions can alter global companies. If this speaks to your organization, you need to embrace both local and internal aspects of wholesale distribution.
Keeping a local focus provides you with a balanced base of customers and suppliers who are located within a reasonable geographic proximity. This close distance has the ability to keep operations moving, even when things start slowing down within the industry. Meanwhile, you still need to stay connected to the world at large. This allows you to broaden your customer and supplier bases, helping to ensure your business can survive the waves of disruption that are sure to come at some point because your footing will be spread across multiple geographic areas.
You must understand how to successfully engage your customers’ demands using the latest innovations to manage the supply chain. A robust business management platform like Acumatica can help you reimagine traditional supply management approaches with today’s top-of-the-line technology.
How MIBAR Can Help You Bring Acumatica to Life
As a leader in the distribution space, MIBAR has helped hundreds of distributors to increase margins, decrease costs and take control of their business with advanced software.
Acumatica Distribution Edition is a comprehensive, interconnected answer to today’s wholesale distribution questions. It offers an award-winning cloud ERP system that allows for the automation and simplification of your distribution processes—all while meeting the security and compliance regulations that are important in your industry.
Our team at MIBAR is here to help you implement Acumatica into your life so you can be better prepared for success in long term. Schedule your free consultation with us today!