CPG Vendors are calling on hundreds of retailer merchants every week. Despite best efforts to be brief and respectful, phone calls and visits can be an intrusion on a merchant’s limited time. The retail landscape is more complex than ever. The average retail merchant manages anywhere between 40 to 400+ vendor relationships daily. Compounding this issue are the ever-changing trends in consumer preferences. It’s not enough to have one option; retailers must offer choices, which means working with more vendors to satisfy their customer base.
Simply put, the time required for wholesale order management has become unsustainable. It is reducing retailers’ efficiency, increasing their costs, impacting sales, and causing some to burnout entirely.
To mitigate this, many retailers push brands to distributors to reduce the number of CPG vendors they manage directly. However, this has consequences, as many brands are simply not ready for distribution, ultimately impacting their performance on the shelf. We covered this very topic in an earlier blog post.
As a CPG vendor, this should alarm you into action. And you are in the best position to offer some relief to retail merchants from the order management burden. After all, earning a customer’s business does not entitle you to their time.
Wholesale POS systems are the unsung heroes of the B2B (business-to-business) realm. These systems are tailored to cater to businesses that sell products in large quantities to other businesses. Here’s what sets them apart:
Implement a Robust Wholesale POS System: A state-of-the-art Point of Sale (POS) system tailored for wholesale order management will drastically improve efficiency. With features like real-time inventory tracking and automated order processing, a robust POS system can reduce manual errors and save valuable time.
Automate Order Management: Automation is your best friend when it comes to order management. Utilizing software that can automatically handle repetitive tasks such as order entry, invoicing, and fulfillment can free up your team's time and reduce the risk of human error. This ensures orders are processed quickly and accurately.
Optimize Inventory Management: Efficient inventory management is key to a smooth wholesale ordering process. Invest in inventory management software that provides real-time updates, low stock alerts, and demand forecasting. This will help you avoid stockouts and overstock situations, ensuring you always have the right products available at the right time.
Streamline Supplier Relationships: Maintaining strong business relationships can lead to more efficient ordering. Establish clear communication channels, set up regular check-ins, and use technology to share order forecasts and demand planning. Building a collaborative relationship can lead to faster order processing and better supplier
performance.
At Purchs, we check all these boxes and then some! Not only does Purchs optimize order management between a CPG merchant and vendor, but we have found a way to maximize efficiency. Using Purchs, a retail merchant can manage all their orders from all their vendors on one platform, saving valuable time and resources. CPG vendors experience similar benefits. With Purchs doing the heavy lifting, you have more time to focus on growing your business.
By implementing these strategies using Purchs, you can significantly improve the efficiency of your wholesale ordering process, ultimately leading to increased productivity and profitability for your business.