Key features of a distribution management software
What is a distribution management software?
Distribution management software is an integrated application used widely in the manufacturing and distribution industry. The software is designed to help manufacturers manage and handle everything from inventory to customer and supplier relationship.
There is a wide array of software selection out there. It is a matter of choosing the one most appropriate for the needs of your business. Some of these software platforms are not necessary for your business type, while others are designed to address your needs specifically. That said, we’ll have a thorough look at what’s available in the market so you can choose the best one for you!
Warehouse Management System Software
The first on the list is the Warehouse Management System (WMS), which is said to be essential software for distributors. WMS is a type of software that allows companies to control and administer warehouse operations particularly, from the time goods or items enter a warehouse until the time when they move out. A robust WMS software keeps track of stock levels automatically, enabling inventory optimization, managing orders, and distributing items or goods. There are different platforms that are tailor-made to small-scale or medium-sized business operations. It’s up to you to find the best solution for your business needs.
Product Lifecycle Management Software
Next on the list is Product Lifecycle Management (PLM) software. This platform was initially developed for manufacturers. However, it can be utilized by distributors as well. In a nutshell, PLM is the process of managing the entire lifecycle of a product – from its inception through engineering design and manufacture to service and disposal of manufactured products. The lifecycle of a product includes the process of managing its introduction, growth, maturity, and even decline. The PLM software entails the complex process of design, prototype, manufacturing, marketing, and distribution.
Supplier Relationship Management Software
When it comes to distribution, Supplier Relationship Management (SRM) software is thoroughly useful for distributors. By definition, SRM is the systematic approach of assessing the contributions and influence of suppliers by optimizing their performance and executing on these determinations. With this resource, you can keep track of all your orders and stock levels as well as calculate lead times. SRM software can help distributors calculate optimal order quantities, negotiate bulk discounts, and diminish carriage costs. If you have various orders from multiple suppliers, employing the use of an SRM software could make your life a lot easier.
Customer Relationship Management Software
Finally, Customer Relationship Management (CRM) software is the last on the list that is designed explicitly for organized customer interactions. CRM is essentially an approach used to manage a company’s interaction with current and prospective customers. It uses data analysis to track customers’ history in order to improve business relationships with them. It is specifically focused on attaining customer retention and ultimately driving sales conversion and growth.
There are various options or platforms to use for your business distribution needs. You can use an API, choose software from the same developer or partner vendors, or even install an enterprise resource planning (ERP) software, which brings all your platforms under one umbrella. However, it’s best to have a thorough understanding of what your business entails and what it specifically needs. From there, you will be able to assess and choose the right software platform to choose, amid the various types presented in the market. Ultimately, choose the platform that will best serve your business’ specific needs.