In distribution, the product is a key part of your business. Though many distributors in recent years have looked toward partnership and value-added services as they look to fight off low-cost entrants, your business still relies on the same “product in, product out” model that it always has.
Technology, in a larger sense, is a relatively ambiguous term. Not only could it be dismissed as jargon (it has the newest technology) or used as a filler word to sound innovative, it doesn’t discuss what is going on with a product.
Vendor relationships matter now more than ever. After months of trying to stabilize cash flow and collect from customers in order to pay your own vendors, lockdowns are ending and things might finally be looking up. But you’re not out of the woods just yet. You’ve just spent months trying to work with your suppliers’ collections departments, and relations might still be a bit tense at the moment.
You’ve probably heard that among the many benefits of working with a cloud vendor is that you receive frequent and robust updates. With Acumatica, you can expect this—it’s promised in their customer bill of rights, it’s been delivered consistently since their inception, and it’s been documented in a 300-plus page document that we’d like to try scratching the surface of.
It’s hard to imagine that ecommerce has existed for more than a quarter century. Though initial forays into buying and selling online relied on complicated processes only available to those well-versed in early 90s internet technology, ecommerce has evolved to provide shoppers with an easier-than-ever buying experience.
Though there are many benefits to choosing a cloud-based ERP solution, one of the biggest is simple: Twice-annual updates that add value for users. Once again, Acumatica has announced new functionality, and there are some impressive new features being added in their second release of 2020—Acumatica R2 2020.
Selecting an ERP system for your business can be challenging. From overt superiority claims to outright lies about competitors, it’s often hard to see the truth, making it incredibly easy to get lost in the shuffle. However, if you’re looking to make the most of an ERP decision, it pays to ask the right questions.
If 2020 has taught us anything, it’s this: The best-laid plans can be derailed in an instant. Though it’s unlikely we will face any kind of crisis like the COVID-19 outbreak in the foreseeable future, the last six months need to be a learning experience for all leaders. But as the economy slowly moves to reopen, it pays to not only understand what’s next, but to remain focused on what got you where you are today.
The key to preparing your retail business for the holidays is to start doing so right after the holidays end. Well, it’s likely that you did that—but plans change when a global pandemic hits. Supply chains changed. Your business probably had to shut down for at least a month. And now that you’re ramping back up, you’re doing so with fewer customers allowed in your business.
If you’re getting sick of the disruption caused by the coronavirus outbreak and subsequent lockdowns, you’re not alone. After four-plus months of this, money may still be tight, but restrictions are starting to ease. As a distributor, this is great news.