MYOB ADVANCED WHOLESALE DISTRIBUTION

The Future of Wholesale Distribution

The future of wholesale distribution is here.

For the wholesale distribution industry, responsiveness is the critical factor for success. To be clear, your ability to process orders on time and efficiently can make or break you – no matter the vertical – from basic commodities to advanced components.

Now more than ever, these challenges have opened up the door for growth opportunities and innovation in the industry. Read on to learn how.

Distribution and opportunity

Post COVID-19, the world has become an obstacle course full of unexpected challenges for those in wholesale distribution – from stagnant supply chain to time and cost increases. As a result of this environment, distributors are having to significantly revise their business processes.

But it’s not all doom and gloom. Every change presents the chance to become more dynamic and resilient. It’s a chance to prepare your operations for future long-term success in the wholesale distribution arena.

In this blog we discuss some of the ways wholesale distribution businesses can excel, regardless of the current disruptions present.

For example, up until recently, the idea of providing customers with digital transaction options was considered a nice feature. Now, it’s vital – it’s essentially an expectation. Virtual distribution is becoming a conrnerstone in the future of wholesale distribution.

The topic of virtual distribution can be a complex concept. Essentially, it can be divided into two subtopics: selling a digital service rather than a physical product, and delivering a physical product through a virtual channel, such as something purchased online. For businesses that buy and sell physical goods, combining virtual and traditional methods is the new balanced way to move forward.

When backed by a robust ERP software system like MYOB Advanced, this approach gives you the freedom to interact with customers and suppliers in different ways: creating a ‘best-of-both-worlds’ scenario.

Workflows integrated

As the wholesale distribution industry becomes increasingly data-driven, businesses must prioritise company-wide connection and interdepartmental information exchange. This is especially important in today’s context, with the rapidly changing dynamics of international events, and supply chain disruptions to name a few.

If your workforce isn’t connected, your data is most likely becoming siloed in applications that don’t communicate with each other. The result? You will never be sure if the data you’re using is accurate, up-to-date, and identical across departments. What happens next? This poor communication end up wasting valuable resources and leads to increased errors and downtime.

You now have a problem which is not getting better, but worse as time goes on. the solution? A business management system that integrate with workflows allows for data to be shared and updated automatically across your operations in real time. This increases visibility and business intelligence – allowing your team to make informed decisions.

The data revolution

There is no denying that the data revolution has transformed every single Australian industry, and wholesale distribution is no different. Just think – those in wholesale distribution have the ability to track and analyse an unprecedented amount of data – ranging from customer interactions, to noting conditions of shipments and products, market variables, or revising regulation revisions to name a few.

When wholesale distribution businesses unleash the power of data analytics across their organisations, they can easily discover insights that are actionable for teams, departments, and decision-makers.

Stay local, grow global

The past few years have shown the unique demands and disruptions that international businesses are facing. And it’s clear that globalisation is necessary. In order for wholesale distribution businesses to remain successful, they need to embrace both the local and the global.

Maintaining a local focus helps businesses move forward, balancing on geographically close customers and suppliers. This proximity to a stable base keeps operations from slowing down or coming to a complete stop. At the same time, staying connected to the global economy remains crucial to greater success. Expanding the customer and supplier base means that regardless of any disruptions, your footing won’t easily shift at once.

Despite these changes, the future of wholesale distribution still relies on one thing: the customer.

Distributors of the future need to understand that engaging with customers demands innovation. Without a doubt, traditional approaches to inventory, logistics, pricing, rebates, and network can be reimagined through analytics and technology innovations.

This is where a robust business management system like MYOB Advanced can step in.

How can BusinessHub help?

MYOB Advanced is a complete, connected solution for Australian wholesale distributers. Its an  award-winning cloud ERP platform that automates and simplifies distribution operations, all while meeting compliance standards.

Contact BusinessHub today with any questions. Or schedule your free demonstration and we can show you how MYOB Advanced will prepare your business for success in the future of wholesale distribution.

MYOB Advanced has given us the ability to see exactly where each part is, what process it is in within our production work centres and how long it will take before it exists and becomes available for our customers. MYOB Advanced future proofs your organisation. It allowed the whole business to open up and gives me data that is up to date.”

Daryl Joyce

RML

MYOB Advanced tells us what we need to know, when we need to know it. The customer is seeing that too. Everything is now flowing from ordering to back ordering, or purchases ordered in. The transparency is so much better – we can deliver better customer service. It makes our jobs easier, and theirs as well”.

Joe Raco

Owner, Threlfall Packaging