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7 ERP System Functions Distributors Should Have

With technology advancement and huge competence, distributor always looking for solutions to grow rapidly. That’s why they are considering an ERP solution to be an integral tool to essential support their growth efforts. A reliable and efficient ERP solution has a wide range of functionality, especially targeted at distribution companies with a global presence. It can bridge the gap between a startup’s requirement for effortless accounting software and a more robust ERP solution. For your growing business, getting the right enterprise resource planning system can be an unbelievably onerous process. This platform, offer distributors to deal with a wide variety of business functions, including invoicing, warehousing, payroll, and more, and on a field of differences, customizable options, selecting the right one for your business is no simple task. Turning out the right decision the first time is essential. However, ERPs usually need a big initial investment, and you don’t want to lock up yourself into a solution that doesn’t completely suit your needs or can’t be extended later on if your needs any updation. Finding the Best ERP for Your Business: 7 Key ERP System Functions Distributor Should Have

1. Well defined packaging management

The only thing that is constant in today’s printing and packaging industry is the ever-increasing challenge. Challenges are of many types, like optimum allocation of the machine, managing the cost, undefined delivery time, shorter changeable demand cycles, low-price competition, and high raw material costs, last but not the least is the complicated production processes. Moreover, the competition in this industry today is very extreme which only means the business processes have to be more efficient so as to encourage the productivity. ERP offers the robust equipped backbone for your business. The ERP system lets your business to work quickly, which will able to perfect the volume of production and completion of orders while cutting down the costs.

2. Robust inventory management

The ERP system you choose must have efficient inventory management in order to rapidly respond to customer needs, and simultaneously it must be flexible enough to embark on any corrections when needed, and do the so without unfavorably changing the operational efficiencies. The ERP Inventory Management module should offer helpful features to curtail the overall warehousing costs and to optimize storage requirements corresponding to the requirements at hand. It must also offer a multitude of advanced warehousing features including balancing, modification, transfer, and reverse operations. Inventory management takes up significant importance in an extremely integrated supply chain and the system aids the success of organizational goals, including improved customer loyalty and cost efficiency by offering streamlined processes and better visibility. According to a study, By improving productivity, decision making and order tracking midsized companies using latest ERP systems can increase on-time deliveries by 24%

3. RFID

RFID, an acronym for Radio Frequency Identification technology has been in existence for several decades, but today RFID is being increasingly employed in several different applications - and the list is ever-growing. RFID and ERP is a wave of the future. Item-level RFID enhances the inventory accuracy, assists cut down the costs, boost sales, and even offers many opportunities for better omnichannel experiences. When employed properly for tracking assets, RFID can significantly reduce the misplacement or loss of goods, minimize shrinkage and offer additional security for tagged items.There are a few serious business advantages for employing RFID technology, including cost reduction, enhanced efficiency and higher visibility of product.

4. 360-degree view of purchase cycle

The distributor you choose must offer a 360-degree view of the purchase cycle.  With a 360 degree approach to providing sales, you not only know why your services are selling but also where they’re weak and what you’ll do to keep selling products in the future. It’ll offer a supreme, comprehensive view of every sales opportunity by offering complete visibility into a customer and prospect history, tasks, milestones, key decision-makers, activities and progress. What is 360-degree purchase cycle?
  • Adds value to the client
  • Build relationships, then sales
  • Create rapport
  • Offers win-win solutions
  • Seeks to find out requirements
  • User review approaches
  • Works as a partner

5. Transportation Management and Logistic management

Transportation and logistics management reduce costs and boost perfect orders. Studies have shown that a reliable transportation management system can provide great results and enhance perfect orders. An ERP solution allows you to make the most out of these capabilities to increase profitability and reduce costs. You can leverage real-time and quick information to acquire the useful insights into your international supply chain and logistics management abilities. You'll get visibility across all shipments, orders, and global inventories. You can easily and effectively collaborate with suppliers, customers, and transportation providers to improve the accuracy, efficiency, and on-time deliveries. Consequently, you can enhance the customer service and eventually grow margins.

6. Seamless Integration with CRM and other third-party application

A conventional CRM working individually to ERP misses several opportunities offered by a well-integrated solution.  It is now possible to entirely incorporate CRM in a more real-time and dynamic way to your conventional ERP transactional system offering the vital goal of a single view of the customer. A reliable solution with integrated CRM and ERP offers the facility to keep and service customers more efficiently, together with focusing on development and new customer acquisition. Each business works differently, sometimes organization even employs third-party software which departments are untrained to take on ERP solution. That’s why it’s important to check integration abilities of the ERP software.

7. Insights and Reporting

Getting insights about how your business is performing are the most convenient way to navigate your business. It brings ad hoc inquiry, drill-around and drill-down analysis up to a completely new level. Turn your data into useful knowledge that you can work on by making use of powerful grouping, sorting, charting and filtering capabilities that you customize to your specific requirements and role within your company. Whereas, standard pre-designed reports straight out of the box can be quickly customized to get precisely the information your business requires to see. From a quick status snapshot to a presentation-quality report, an efficient ERP solution provides multiple levels of standard and bespoke business financial reports in real time and quickly. Choosing a right ERP solution will let you avoid dependence on IT report analysis and writing.
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