For wholesale distribution industry, one of the biggest challenges includes tracking and fulfilling orders, managing receivables, and inventory management. Furthermore, wholesalers and distributors require real-time data related to inventory levels across different branches in order to optimize storage and streamline movement of goods. If the distribution centers are located across different countries then this will add more to your worries. Multiple currencies, different time zones alongside compliance are just few aspects that need to be taken care of. Apart from this, whether this is sales reps, customers, vendors, 3PLs, eCommerce partners etc, all require access to more information in real-time. In fact, cohesive communication is the key to success for this industry. To address these pain points NetSuite for wholesale distribution industry is considered as the best business management solution.
Why NetSuite for wholesale distribution?
Manage – Oracle NetSuite enables you to deliver a truly omni-channel experience to customers. With connected operations of supply chain, CRM, retail channels, inventory and other processes, NetSuite helps in eliminating data silos associated with disconnected systems, enabling you to meet the demands of 21st century consumers while improving your efficiency and adding to your bottom line.
Customize – With SuiteFlow, NetSuite enables you to manage your company’s unique requirements with the automation you need. In today’s cut-throat competitive landscape, wholesale distributors must stop treating ecommerce sites as “add ons” as your B2B customers are increasingly acting like consumers. They shop on their iPads and smartphones and expect to go online to purchase corporate supplies at any time. NetSuite enables you to deliver consistent experience across multiple touch points, helping you to offer personalized engagement to customers.
Connect – NetSuite helps you to keep pace with technology, workforce demographics, customer needs, pricing models, and much more. NetSuite grows with your business so you stay ahead of the curve year after year. By implementing the right technology to accentuate your particular offering of services and expertise, your wholesale distribution business can compete and succeed.
Core Capabilities of NetSuite for wholesale distribution industry
Engage – With NetSuite, you can seamlessly connect every step of a multi-channel, multi-location business — from ecommerce, POS and order management to merchandising, marketing, inventory, financials and customer service. NetSuite helps you to move from siloed online, in-store and phone shopping channels to an integrated commerce solution that seamlessly connects ecommerce and in-store POS to order management, inventory, merchandising, marketing, financials and customer service.
Market – NetSuite delivers real-time marketing metrics and comprehensive data that enable you to engage current customers while expanding to new markets. With NetSuite campaign management, you can create and track highly targeted marketing campaigns based on demographics, purchase trends, response patterns and support histories. To maximize ROI, you can continually fine-tune your campaigns. You should leverage NetSuite to gain 360-degree view of your customers to uncover new opportunities.
Sell – NetSuite integrates and automates sales processes including opportunity management, quote and order management, sales forecasting, order management, fulfillment, and incentive compensation management. NetSuite delivers real-time sales data, complete visibility into opportunities, and a rich set of forecasting tools, enabling your sales team to maximize productivity.
Order – NetSuite eliminates manual bottlenecks and removes cumbersome rekeying to fast-tracks your order-to-cash processes with built-in flows. NetSuite enables you to integrate sales, finance and fulfillment teams to improve quote accuracy while eliminating billing errors, strengthening revenue recognition processes and driving fulfillment accuracy and efficiency. NetSuite, further, enables you to receive orders through EDI, web orders, direct sales, partner sales, point of sale and more.
Source – NetSuite brings transparency and control throughout the purchasing process, enabling you to build favorable supplier relationships while gaining deep insights into performance and forecasting. NetSuite offers the ability to manufacture in batches with automatic batch creation, full traceability, production control and scheduling. Using workflows, vendors can regularly be audited as every transaction is tracked, analyzed and then included in the vendor scorecard, letting users easily keep track of vendor performance.
Warehouse – With inventory management capabilities for multi-location inventory, bin tracking, and cycle counting, NetSuite helps in streamlining warehouse operations while enabling you to define and configure and help optimize where you store your inventory. Warehouse Management in NetSuite can help you increase efficiency, improve operational excellence and lowering operational costs. With capabilities like task management, user defined putaway / pick strategies, cycle counting, work orders and kitting, NetSuite provides everything to operate an efficient warehouse.
Fulfill – NetSuite enables you to manage all resources within distribution operations while minimizing the total cost of operation or ownership (TCO). Organizations can optimally manage their distribution operations with RF device directed putaway and picking tasks driven by customized user defined strategies and advanced capabilities like wave management, cartonization, cycle count planning, real time inventory updates and integration with shipping systems.
Support – With NetSuite, you can provide highly personalized and interactive service to customers. With support service, your customers will be able to receive answers to their questions, complete transactions, submit support issues and query your knowledge base. Furthermore, with case management, you can empower your support team with a full view of each customer. NetSuite enables you to escalate customer tickets while also helping you to schedule and dispatch field technicians.
Global – NetSuite offers comprehensive tax and compliance management capabilities to deliver robust foundation for transparency, automation, simplicity and controls in the management of global tax and compliance responsibilities. Indirect tax management and reporting capabilities enables you to conduct business with confidence. NetSuite supports 190+ currencies and exchange rates and can be translated into 20+ languages for reporting, enabling you to conduct business with both customers and vendors globally. Electronic Payments Suite in NetSuite enables you to pay your vendor bills and employee expenses across the globe directly from NetSuite, as well as take payments directly from customers.
The Bottom Line
Thus, we can conclude that NetSuite for wholesale & distribution can help in streamlining your business while eliminating inefficiencies to optimize operations. NetSuite will bring unparalleled efficiency and visibility across different aspects of your business, enabling you to grow at a rapid pace.