When it comes to building effective business relationships, there is more to it than just providing top class products at highly competitive prices. For a start, business owners need to be attentive to what their customers are saying and address to their customers’ needs and concerns.
In our interviews with customers, we found out that one of our customers’ greatest pain points was having to discount stock due to upcoming expiry dates, along with losses caused by spoilage of perishables.
Clear communications and business transparency are key to the foundation of strong working relationships, as your customers want to know about business developments on your end that may have an impact on their own business. And here’s where batch and expiry tracking reports come into play. By sharing these reports with your customers, you’ll have an opportunity to build great customer relationships through demonstrating your business's commitment to their best interest.
- Avoiding the sale of short-dated products
When it comes to products that have a limited shelf life such as food, beverages, and pharmaceuticals, your customers will be conscious of product expiry dates.
One of the most crucial aspects of inventory control for companies that supply perishable or short-dated products is how to avoid shipping such products to their clients. Because many retailers hold inventory longer than wholesalers and distributors, your customers will be expecting you to ensure that they aren’t receiving short-dated products.
To improve your customer’s perception of your brand, ensure that you give them plenty of warning as to when the products on their shelves are approaching the expiry dates.
If your business has the data it needs to locate every batch, such as the batch number and corresponding expiry date, discounting and spoilage can be kept to the minimum as both you and your customers will be able to sell the products before the sell-by date.
- Benefiting from smoother recalls
From suppliers to end users, no one likes to deal with product recalls, regardless of why they are initiated. The good news for suppliers and brand owners is that they can actually reap some benefits from them in terms of customer perception and loyalty. Businesses that use batch tracking reports are not only displaying to their customers that they have taken the initiative, they will also be facilitating a smooth and professional approach to every aspect of product recalls.
As recalled goods or products are often faulty, product recalls are often perceived in a negative light. Bearing this fact in mind, smoother and faster handling of your recalls will have a smaller impact upon your business.
By ensuring transparency and maintaining clear communications with your customers on recalls and expiry dates, you can be more proactive in customer relationships. With a batch tracking system in place, you’ll be able to ensure that the whole recall element of your business runs smoothly while reducing the effect on revenue. At the same time, it displays a high level of competence in the eyes of your customers. By minimising the impact of recalls on your business (and subsequently theirs), you’ll be able to ensure a positive customer experience.
- Better inventory management for the customer
Inventory management systems that incorporate batch tracking reporting are able to provide many benefits at all key points throughout the supply chain. By clearly communicating and sharing crucial data with your customers, your business will be enhancing the whole supply chain.
By improving your customers’ business and improving the perception of their client base, you are ultimately adding value to your own business as well.
Provide your customers with detailed information on all the product batches you supply by allowing them access to the data that your inventory management system provides. With batch and expiring tracking, you’ll be able to help your customers that use a first in, first out inventory management system by sharing your insights into expiry dates by batches with them.
This in turn helps customers to avoid the pain of added costs from spoilage and discounts.
With the right batch and expiry tracking system in place, you can minimise your inventory recall issues by quickly identifying affected products while saving your customers from the costs of discounting short-dated products.
Ultimately, batch tracking records will help you to improve your relationships with your customers. B2B customers usually have the added benefit of a higher product lifetime value than consumers and the end users in the supply chain, and by ensuring your customers never have to worry about short-dated products or the pains of running a recall, you can keep them happy.