Important Wholesale Distribution Metrics to Track
As a wholesale distributor, there are many metrics and data points that need to be tracked to ensure that you are maximizing your resources and running a successful business. That being said, knowing just what metrics to prioritize while tracking can be a tough call to make, especially if your ERP system isn't up to date. Knowing what to look for in a wholesale distribution ERP software is one thing, but knowing what distribution metrics to track is another much trickier task that really depends on your individual businesses priorities and goals. That being said, there are a few very important wholesale distribution metrics that your local Acumatica Partners of Chicago find to be important for successful wholesale distributors.
For many wholesale distributors, a loyal customer base is more common than a constant rotation of new businesses knocking at your door. Being able to track and measure your customer retention through the use of an automated wholesale distribution ERP software like Acumatica is crucial for distributors to track and analyze just what customers they are keeping around and who they are losing. That way, distributors can make conscious steps to build a loyal and consistent customer base that will support them as they grow together.
Another important wholesale distribution metric to track is the amount of time it takes your business to work through a sales cycle. Businesses that are able to capitalize on their strengths and streamline their sales cycle from dock to delivery both internally and externally are the distributors that are overall the most successful. Cloud ERP software like Acumatica is great for automatically tracking these metrics so that you are able to pinpoint your inefficiencies and repair weaknesses as they occur. Customers appreciate a business that is able to shorten cycle lengths and with the help of an automated ERP system like Acumatica, you too will be able to continue this line of success.
Warehouse Capacity Levels
Understanding the fluctuations In your inventory levels is crucial for limiting losses in stocked inventory. Understanding the different demands and inventory levels needed during peak seasons or standard cycle times is crucial for ordering inventory and maximizing your space and resources. Manually tracking these levels and making inventory decisions without the help of an automated software can be tricky and time consuming. Ensuring that you are able to satisfy your customers orders is a crucial metric to track for the success of your wholesale distribution organization.
These are just a small number of metrics that your Chicago based Acumatica Partners at Logan Consulting find to be helpful, we would love to hear what metrics that you find to be useful in your distribution organization! Please share in the comments section below.
For more information on Acumatica Cloud ERP and how it can help grow your wholesale distribution organization, contact Logan Consulting to schedule a consultation.
2020 Nucleus Research Report on ERP Technology