Wholesalers stand between manufacturers and retailers, buying in great bulk from the first and selling in small quantities to the second. What these two sales entities have in common is inventory and the fact that they have to manage it well.
To do that, the right tools have to be in place. Today, these tools are the inventory control and order management systems. The functions carried out by these automated systems are the same for both entities, but for wholesalers, large quantities of goods have to be handled.
In this blog, we’re going to lay out the reasons why Cin7 Omni software is a good option for wholesalers when it comes to their inventory and order management.
For a wholesaler, buying in bulk and selling in small quantities to several retailers involves everything that order management covers, from knowing what to buy from suppliers to delivering the items to retailers.
Cin7 Omni’s order management software takes care of every step in the process easily. That’s everything from tracking orders, invoices and purchase orders, to warehouse management, and shipping. Cin7 Omni also has integrations that will let a wholesaler track all its business transactions, minimize dead stock, use several different couriers for shipping, and accept payments in many currencies.
Here are some of the ways Cin7 Omni’s order management system can make a wholesale business run better:
With Cin7 Omni, all your retail partners can be centralized on a single dashboard. Through this one hub, information about the goods ordered from manufacturing and importers on one side, and purchase orders received from retailers on the other can be recorded, tracked, and synced to inventory, all in real time.
Because this dashboard is the central control, it also displays the inventory in a warehouse. If there are several warehouses, the display makes it easy to move any of those goods from one facility to another with a few simple instructions. Knowing what’s in stock and where it’s stored at all times in real time will, in addition, prevent stockouts. As an added bonus, Cin7 Omni supports pre-orders and backorders.
Any information Cin7 Omni is storing about inventory or order management can be brought up on the dashboard at any time, and it can be presented in as much or as little detail as is wanted. For instance, you could bring up everything about a particular order — order number, order date, name of retailer, payment method, shipping carrier, and so on — or you could bring up one or two of these identifiers. There’s also a filter that lets you display information in categories. These could be anything from outstanding invoices to unfilled purchase orders to what inventory is stored in a particular warehouse. If a category you want is missing, a custom feature that’s part of the system lets you add it.
In short, Cin7 Omni is a highly flexible system that puts you in the driving seat at all times, giving you the ability to pull up the data you want on the dashboard.
The mission-control dashboard that comes with Cin7 Omni does more than just display your data, it’s also the tool through which you can make additions or changes: Add details that help you identify orders like due dates, tags, comments, and instructions; confirm, cancel, export, and import bulk orders; create new orders and picklists; download and print invoices and shipping labels. Maybe most useful of all, with this system, you can process many different orders simultaneously.
Just as inventory is central to the wholesaler, inventory management keeps the business flowing smoothly and efficiently. An automated inventory management system will make sure you have the right amount of stock at all times for your company’s needs, doing this by setting triggers to go off at preset lows and sending out purchase orders for more when those levels are reached.
With Cin7 Omni, you can also handle any returns you may have. It can initiate a refund, if your returns policy allows for it, and can log the items back in your storage.
When it comes time to ship out your retailers’ orders, Cin7 Omni has everything under control. Right from that same dashboard, you’re able to choose a delivery service that’s best for each company you’re delivering your products to, even if they’re in another country, and there are several courier services to choose from. Another feature of the automated system considers factors like price, discounts, package size, location, and delivery date.
Keeping a good line of communication with the manufacturers and importers you deal with — your suppliers — is as important as maintaining inventory levels and getting orders out efficiently. Cin7 Omni lets you do that, giving real-time, up-to-date information on all your dealings with them as well as the other areas of your business. Because all this happens from your all-purpose dashboard, everything you do is coordinated and based on accurate information. It’s all designed to make your wholesale business run as smoothly and cost-efficiently as possible.
We’ve shown how Cin7 Omni’s order management and inventory management systems can help you conduct your wholesale business at an optimum level.
To find out more, talk to one of our Cin7 Omni experts today.
Growing a wholesaling business is both challenging and rewarding despite high competition. The world recently experienced a massive socio-economic setback in the form of the Covid-19 pandemic and the wholesale industry has since begun to show a strong recovery. It is clear that you need to be precise about both planning and operations if you […]
Wholesale commerce is all about large volume and big profits, but as with all business, can come with the risk of big losses. Changes in consumer preferences, supply chain operating factors, and increasingly aggressive competition make it necessary for wholesalers to stay on top of their game. Integrating software to organize their success should be […]
Electronic Data Interchange (EDI): The electronic exchange of business information using a standardized format; a process which allows one company to send order information to another company electronically rather than by paper or email. The top 30 retailers in the US, UK and Australia will buy over 2 trillion dollars of products from their suppliers […]