Why Wholesalers Need POS Management Software

Managing a wholesale business means you’re constantly buying and selling inventory. Naturally, a prior consideration for any wholesale business is how to manage that inventory. If you’re a wholesaler, you know exactly what inventory management is. You receive products from suppliers and sell them to your customers, and the way you manage that process determines your success as a business.

There are several methods to manage inventory. And the most common one applies to using spreadsheets & breaking down products by name, price, & quantity. Business owners modify their spreadsheets every time a sale is completed to keep inventory accuracy. If you’re accomplishing it manually, this labor-intensive procedure requires continuous monitoring to assure every transaction is accounted for — that can also lead to costly errors. Ultimately, the more automation you utilize in your inventory management procedure, the less paperwork & headaches you’ll have to deal with.

With the beginning of innovative technology, cloud-based inventory management software enables many business owners to enhance their business procedures. Here’s why modern inventory management software is essential:

Maintain a singular & centralized access point

Whether you are selling a single product line or multiple product lines, having access to your business from one central dashboard presents clear stock visibility & makes management much more satiny. With the capability to track products across multiple warehouses, you also eradicate the risks of stock-outs & late order fulfillment, similarly.

Facilitating customer orders

Utilizing multiple accounts & spreadsheets to track and manage daily sales transactions is both confusing & time-consuming. Maintaining the ability to facilitate all order details in one place, on the other hand, makes it uncomplicated for business owners to process customer orders & fulfillments.

Acquiring instant access to order details

One of the significant challenges to wholesalers is conveniently having a mountain of customer orders. Since current businesses receive orders via fax, direct messages, email, and many more, there can be a break in the communication chain — which can further delay shipping & fulfillment.

Over time, missed or late orders can lead to the loss of future orders. Inventory software fixes this problem and lets wholesalers track everything in real-time.

Updating stock automatically

While managing multiple orders daily, it is essential to update stock movement & availability to assure adequate inventory levels at each storage. The inventory management software will help you automate your stock updates in real-time. With this method, it becomes easy to track requirements & make informed decisions while running your wholesale business.

Getting timely re-order notifications

Nothing angers a customer more than a late order. When managing multiple orders in a day, there are many chances to miss the window to re-order products on time. When you wait to procure products after a customer places an order, the fulfillment process can get delayed — which often results in a poor customer experience.

Inventory automation instantly updates stock levels. It also alerts you when it’s time to re-order stock. This feature eliminates stock-out scenarios resulting in lost business and ensures you’ll have stock when needed.

Personalizing shopping experiences

Many wholesale business owners achieve a competitive benefit by delivering personalized shopping experiences. You can now showcase a range of your product collections & allow your customers to make their purchases with a single dashboard. Through these strategies, inventory software changes the path many businesses offer their products. Very soon, you’ll be capable of inviting your customers to both access & place orders in real-time.

Tracking order status in real-time

While in the wholesale business, you’ll need to fulfill orders in bulk. When dealing with large numbers of products, it’s compulsory to provide quick & accurate delivery. At this moment, it’s almost impossible to do this manually. If a business cannot track a customer’s order status, there can be unforeseen delays & miscommunications — which eventually ruin a customer’s experience. Having inventory management will allow you to spot delays & take steps to improve product satisfaction & customer satisfaction as well.

Also, Read our blog on the ultimate Guide to Help you choose the best POS Software in India

Accepting multi-currency purchases

When your business starts growing, customers from all over the globe will be aware of your brand. It can unlock more incredible opportunities for your wholesale business — but only if you allow them to make purchases easily. If possible, you should let your customers make purchases with their currency. It will make them feel safe, secure, & cared for. In turn, you’ll get your customer loyalty.

How to implement inventory management software

No matter the size of your business, inventory management software will help business owners like you follow the most profitable practices & increase efficiency. If you’re interested in executing inventory management software, book LytPOS, the best software today. Our solutions will be ideal for your business, customers, & inventory management processes.