8 Tips to Maximize the Digital Transformation of Your Wholesale Distribution Business
You’re caught in the middle of a tug-of-war.
On one side, the customers of your wholesale distribution business pull at you to deliver faster and reduce your margins. They may even expect you to have an e-commerce platform so they can buy conveniently online, just like consumers.
Meanwhile, on the supply chain side, your vendors yank at your bottom line with higher costs and more complicated logistics as you grapple with managing global resources. To make matters worse, some suppliers are cutting you out of the value loop by selling directly to your customers.
How are you supposed to sustain a growing business in the midst of all these pressures?
That’s where Enterprise Resource Planning (ERP) software empowers small and medium-sized businesses like yours to respond efficiently, productively and at scale to business challenges.
Tools for KPI Tracking: Your Top Questions Answered
You’ve heard a lot about KPIs.
You have your own, of course, and you track them, but maybe you’re not entirely happy with that process.
Dynamic companies you read about monitor real-time KPIs to make more informed decisions so they can proactively manage the performance of their operations, whether manufacturing or other.
How do they do that?
Forward-thinking business leaders ask us these types of KPI-related questions all the time. They’re hungry for deeper insights that will empower them as they navigate their fast-changing business landscape.
So here are our answers to the most-asked questions about KPIs.
Good KPI vs. Bad KPI: How to Make Better Decisions Faster in the Food Industry
Like a movie director on a busy film set, you’re beset by a constant flow of information and questions.
How can you get a handle on this data? Which questions should you and your team ask to grow sustainably? Where can you get the answers you need?
Moreover, without reliable, precise, and timely answers to these questions, you risk hobbling your growth — or worse.
That’s where Key Performance Indicators (KPIs) become vital. They allow you to react nimbly to rapidly evolving business situations. KPIs help you make better decisions faster that increase your profitability, reduce waste, and support your growth while reducing risk.
How to Protect the Profit of Your Small Business When Inflation Hits Supplier Prices
Your gross margins are hurting.
You’re being bombarded by supplier price increases from all sides. Upsurges in demand and COVID-19-related shutdowns have strained the supply of your raw materials, commodities, and components. Delays in trucking and shipping are compromising your deliveries. Finding the right talent amid labor market shortages is driving up labor costs.
5 Ways the Real-Time Data of Your ERP Reduces Risk and Cost
To run your business sustainably, information is vital.
And not just any information. It must be reliably right, and available at the right time.
When your information strays from these parameters - when it’s less accurate, less timely - you increase the risk and cost of your data-supported decisions. In a growing business, where a fast-increasing number of components is moving to different locations, the consequences of these decisions increase accordingly.