Automation is making a significant impact on wholesale by streamlining processes, adding greater transparency to orders and inventory, reducing (and in some cases eliminating) errors, increasing average order values (AOV) and more. With so many incredible benefits to tout, it’s no surprise that embracing technology is no longer the exception for retailers and brands- but the new norm…
Optimizing for Efficiency
Automation is simplifying the wholesale process. B2B e-commerce platforms make it possible for you to place orders in an optimized and efficient manner throughout the year- a necessary capability in markets where consumers demand a faster pace of newness (e.g. beauty and fashion). Integrated inventory allows wholesale buyers to purchase 24/7 from anywhere around the world, via instant payments. Instant orders and data provide convenience and speed for buyers and manufacturers; meanwhile, brands’ ERP systems integrate with their digital catalogs to provide seamless updates of sales data, inventory and more.
Improving Production Forecasting
B2B e-commerce paves the way for better production forecasting, allowing both you and your manufacturers to improve investment projections, resource allocation and expenditures for the seasons and years to come. Armed with real-time sales data including sell-through rates and the performance of specific colors, silhouettes, fabrics, and bestsellers during particular timeframes and according to specific parameters (such as regions and stores), you’ll be able to forecast with greater precision and confidence. You’ll meet production minimums and deadlines with ease.
Automation also engenders higher average order values (AOV) as wholesale buyers are privy to more accurate, closer-to-real-time insights on how their buys are performing. For example, if a particular womenswear SKU is performing well, B2B e-commerce proffers more opportunities to identify that top-performing SKU as well as to replenish its stock in a timely fashion. E-commerce for B2B also simplifies the process of offering immediate and limited-edition products (as shared privately on your B2B e-commerce platform with hand-selected buyers), providing even more opportunities to increase sales.
Reducing or Preventing Errors
Fewer errors are one of the greatest benefits of automation. Minimizing the opportunity for human error, e-commerce for B2B reduces issues surrounding backorders due to transparent inventory levels that are updated and shared in real-time. The technology also completely eliminates the risk of placing unfillable orders or double orders- common human errors in the traditional buying process.
In fact, many common order issues are eliminated in the automated environment of B2B e-commerce due to end-to-end integration and the lack of manual entries. When you fully-integrate your backend system with your e-commerce for B2B, you can be certain orders placed by retailers will be accurate with regards to SKUs, quantities and other crucial details, allowing you to place orders with your manufacturers with greater accuracy and speed. With a 99% reduction in errors, the days of mistyped order numbers and SKUs can become long-forgotten problems of the past thanks to automated B2B e-commerce tech.
Discover how B2B e-commerce can transform your wholesale business; request a demo.