You've supplied your wholesale B2B sales team with inventory management software, a CRM platform and all of the tools they need to succeed. It's time to start generating revenue, and that is where your management skills come into play.
For a hybrid company that is selling to both end consumers and the rapidly expanding B2B eCommerce market, keeping a firm handle on the whereabouts and final destination of product can be challenging.
As an eCommerce entrepreneur, all your focus is on sales, your customers, and your product range. While stock management may not be top of your list of priorities, good stock management can improve your cash and profit when you make it a part of your day to day routine.
Everything in your wholesale distribution business humming along nicely: your customers are satisfied, and your supply chain is consistently meeting their demands. Now, you want to expand, but you’re wondering exactly how you are going to make that happen.
In certain industries, recall rates are high enough to be factored in as part of the business process. For example, the industry average for automotive recalls currently stands at 1,115 per 1000 cars sold, as a single vehicle can be recalled multiple times for different reasons.
TradeGecko allows business owners to focus on what makes their business grow, instead of spending valuable time on manual operations, and we’re proud to be recognized by GetApp as a Category Leader in the inventory management category!
Even if you have the best sales team and distribution chain imaginable for your wholesale business, it won’t amount to much if you are paying too much for your stock in the first place. This point should drive home just how crucial negotiating with your current and prospective suppliers is to the success of your company.