Pick the ideal inventory management platform to unleash maximum productivity in wholesale operations

Integrating the right platform for stock control and inventory management can massively elevate results and returns in wholesale businesses. Discover how to select the ideal one for your business with the guidance of a specialist team.

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With rising inflation and greater pressure on businesses, B2B operations such as those operating in the wholesale sector are faced with increasing uncertainty and irregular fluctuations in demand that make efficient inventory management a difficult task.

Maintaining accuracy in inventory management is paramount for maintaining the returns of wholesale businesses by catering to persisting demand and fulfilling all orders received from their customers. However, the volatility in the business landscape severely complicates operations.

In these challenging environments, wholesale businesses need to find ways to stay competitive and improve their operational efficiency. That’s where a dedicated inventory management platform for wholesale operations comes in.

Platforms for inventory management and stock control software for wholesale businesses are often a core offering of top-tier wholesale EPOS systems which are now an essential part of remaining competitive in the highly competitive wholesale sector.

How can you choose the right EPOS stock control system for wholesale business operations?

Determine business requirements

Wholesale businesses, big or small, should assess their inventory management requirements and choose a platform that meets those needs. Businesses should consider factors such as inventory size, sales volume, and budget in decision-making.

Evaluate features

When choosing an inventory management platform for wholesale, its features should be evaluated to ensure all requirements are met. Businesses should look for systems with barcode scanning, real-time stock tracking, sales monitoring, and reporting capabilities.

Consider integration

Businesses operating in the wholesale sector should also consider whether the selected platform for stock control can integrate well with their existing point-of-sale system. Proper integration can streamline operations and reduce manual intervention.

Check after-sales support

Evaluating the after-sales support of the provider of the inventory management platform is essential for wholesale businesses. Good customer support can help them resolve issues quickly and efficiently, ensuring minimal disruption to their operations.

Pick a budget-friendly system

Dedicated platforms for inventory management to be used for wholesale operations can vary in cost, depending on their features and capabilities. It’s important to choose a system that fits within the budget without compromising on performance.

What makes using an inventory management platform a necessity in wholesale operations?

Manually keeping track of inventory is no longer a viable option for maximising productivity in wholesale operations as data and analytics currently play a critical role in maximising the efficiency of these operations.

Making data-based decisions on what items to order and hold in stock within your wholesale operation will assist in reducing stock-holding costs due to overstocking of slow-moving items and minimise the chances of stock-outs due to under-forecasted orders of fast-moving items.

Wholesale businesses that are able to integrate the ideal platform for inventory management in their operation can leverage the insights generated from the system and utilise data-driven decision-making to build a lasting competitive edge in the sector, keeping costs to a minimum while maximising returns from operations.

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FAQs

What are the four types of inventory management systems?

Perpetual Inventory System: This is a computerised system that tracks inventory levels in real-time.
Periodic Inventory System: This is a manual inventory system that involves taking physical inventory counts periodically.
Just-in-Time (JIT) Inventory System: This system aims to reduce times within the production system as well as response times from suppliers.
ABC Analysis Inventory System: This system classifies inventory into three categories (A, B, and C) in order of importance.

What is the best app to keep track of inventory?

The best system, software, or application is highly dependent on the specifics of each operation. There are some dedicated software applications to track and manage inventory for a range of industries including wholesale, retail, and food service. Knowing the specific operational needs of your business is crucial for picking the ideal app for tracking inventory in your business.

What is a CRM inventory system?

A CRM (Customer Relationship Management) inventory system is a tool that combines the features of CRM and inventory management. When integrated, a CRM with inventory management takes data from purchase orders and compares them to customer orders to give you a snapshot of current fulfilment capabilities.

Discuss your requirement to identify the ideal platform for inventory management in your wholesale business by consulting our team of specialists

Get in touch with the WITMEG team to discuss your requirements and discover the best solution to address the specific stock control requirements of your wholesale operation through expert-led guidance.