What Makes a Future-Ready Distribution Business Platform?

Intro

Distribution centers are the connection hubs for businesses, enabling them to see processes in real-time and streamline their supply chain strategies. Today’s business leaders have to track everything from inventory to customer interactions to keep products on the right journey. But to do this well, businesses need the latest tools for the job. That means tapping into the possibilities posed by e-commerce’s rapid growth, and choosing effective platforms to manage distribution.

For businesses to be future-ready, they need to be nimble. And the platform they use needs to let them scale and meet demands successfully. Keep reading to learn about the essential qualities the best distribution business platforms offer, and how they’re preparing businesses to stay ready.

Turning to the Cloud

For today’s businesses to stay ahead of the competition, cloud-based software is a corel piece of the puzzle. By turning to cloud-native platforms, companies can synchronize all details of the supply chain and access everything remotely. This means that companies won’t need to house critical data on-site and, as a result, limit access to only a few stakeholders. Instead, cloud-based options enable all parts of the supply chain in all locations to access information about anything from delivery timetables to inventory needs.

Further, cloud-based systems can integrate with other tools, giving businesses an easier way to manage finances and vendor partnerships. Distribution businesses gain a solid infrastructure for growth and real-time updates by using software. MYOB’s wholesale distribution solution, for example, helps businesses streamline their warehouse operations. The platform can manage inventory prices, update carriers and recipients on an order’s progress, and automate purchase orders. This future-ready approach to supply chain management ensures businesses are always able to pinpoint the data and metrics they need to maintain profitability.

Automating Processes

Every small business aspires to get bigger. But too many time-consuming workflows can hamper efficiency. Businesses can find tools to support automating processes, however, with the right cloud-based platforms. This allows employees to avoid wasting time on monotonous tasks and instead direct their efforts toward big-picture advances.

Traditionally, preparing and sending invoices has been a tedious process, for example. But thanks to future-ready platforms, the software can take care of populating templates with financial information and sending the document to the appropriate recipient. Other helpful software tools for businesses include AI-fueled financial forecasts. Businesses used to rely on behind-the-scenes, manual calculations to make financial projections. But AI has helped businesses quickly arrive at projections that are more accurate. Businesses can compare these projections with business plan goals and make necessary pivots.

Accessing Analytics for More Informed Strategies

Distribution businesses have to be adaptable to changing conditions. They may encounter a sudden decline in demand for a given product. Or a kink in the supply chain could trigger delays and unhappy customers. Fortunately, cloud-based management platforms can help businesses spot these challenges before they snowball into bigger problems.

With ongoing data collection, distribution platforms can produce reports instantly that show dips in demand or delays in the supply chain. Users can assess customer satisfaction or compare delivery times. Seeing data helps businesses spot issues, like a delivery route that’s too long and costly. Or perhaps a business might notice that inventory turnover has slowed, meaning warehouses are stocked with goods that aren’t going anywhere. In response, businesses can shift prices or inventory to help maximize inventory space and personnel.

Additionally, platforms let businesses retool workflows and customize dashboards. They can introruce new integrations connected to suppliers or accounting needs. In short, businesses are better able to adapt quickly when everything is centralized on a distribution platform.

Handling Scalability and Compliance

Businesses become more complex as they add new products, regions, or vendors. They may face new compliance guidelines, too, like additional shipping documentation, that can complicate processes. Distribution platforms are built to handle these growing pains that come with expansion. And they can do so without forcing businesses to slow down and readjust workflows.

Businesses can trust that their platform is equipped with the latest security measures, too. This is critical given that businesses are working with payment information and other private details. Tools like multi-factor authentication and encryption ensure that sensitive details don’t fall into the wrong hands. With the increasing threat of data breaches, businesses can’t afford to be sidelined by security lapses. The best future-ready platforms can conduct security audits and send alerts when they detect unusual activity. This helps businesses take action and prevent significant cybersecurity threats from affecting their reputation.

Focusing on the Future

The best future-ready distribution business platforms are refining how businesses approach growth. Distributors can expand the number of warehouses, customers, and vendors they manage with the help of a centralized platform that integrates with other software. With vital tools like automation, data updates, and high-level security measures, distribution platforms offer a polished approach to management that can help distributors scale up and stay relevant.