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Posted by & filed under ERP, Manufacturing & Distribution, Sage.

Read more on "Use A SWOT Analysis When Pursuing Customers" »

This is part 6 of 12 in our series on the importance of owning a business management system. If you missed it, catch up on last week’s post, Learn To Determine Which Opportunities To Pursue And Which To. For more insight into the challenges that distribution companies must overcome, be sure to download and read our free eBook, “The road to profits: How mid-size distributors can compete and win in a mega supplier world.”

While you want to add to your long list of profitable customers, you don’t want to bid on every opportunity that comes your way. Not all bids are profitable and you can’t sacrifice your profit margins and expect to stay successful. A SWOT analysis (strengths, weaknesses, opportunities, and threats) can be used to determine which customer bids can yield the greatest revenue potential.

SWOT

 

In order to prepare a bid, you need to have quick access to reliable financial data, supplier and vendor data, and employee availability. This type of data is needed in order to determine whether you have the time and resources to fulfill the project, as well as whether you will realize a reasonable profit margin. If you are using entry level or disparate, specialty software, you may not have speedy access to your data and the data could also be unreliable. Using poor data for a bid could result in a project or customer that puts you in the red rather in the black.

Download “The road to profits: How mid-size distributors can compete and win in a mega supplier world,” a complimentary eBook, to learn how to quickly access the business data needed for a SWOT analysis with an integrated business management solution. Within this single business management solution, you can manage financials, supply chain, manufacturing and distribution, and other core business operations. In addition, the powerful business intelligence and robust reporting offered in these solutions will make it easier to find key data needed for a bid, including current supplier pricing, product and employee availability, and profit margins. Regular monitoring of your profit margins can provide valuable insight into whether to bid on similar projects or customers or whether to pass.

Using a comprehensive and integrated business management solution will provide swift access to reliable data so you can respond faster and create accurate bid requests. Download the free eBook and contact TGO Consulting for more guidance on using today’s business management solutions and the SWOT analysis to determine whether to pursue a new customer or pass on the next bid.

Are you a mid-sized distributor trying to compete in an Amazon.com world?

Gain insight into the challenges that distribution companies must overcome:

distribution ebook

Posted by & filed under General, Sage.

Read more on "Sage ERP X3 Version 7: Enhanced Business Insight" »

According to research done by the Aberdeen Group on ERP and business intelligence (BI) in the SMB, it takes an average of 11.5 days for a company manager to be notified of a situation that is effecting their business. Are you okay with waiting that long to even find out about the problem, let alone fix it? With a comprehensive solution like Sage ERP X3 version 7, gain the ability to compile and analyze extensive company information and insight.

Here’s how you can effectively monitor information with the right ERP solution:

Begin with the correct data

Employees work hard to document and record important information. But if they are internally storing the documents on their hard drives, the rest of the business is deprived of useful business insight. The right ERP solution will eliminate employees working off multiple copies of documents and promote a coherent view of the business at all times.

Self-Serve Intelligence

It doesn’t matter that you have the right data, if you can’t access it when you need it. Eliminate inefficiencies with processes by enabling all areas of your business to gather their own data.

Work exceptionally

Sometimes, too much data can cause employees and team members to become overwhelmed. This is why companies should focus on exceptions, not expected norms. The right ERP solution will notify users of any business anomalies, promoting quicker and more effective problem-solving.

Want to learn more about how Sage ERP X3 version 7 can provide your business with relevant intelligence?

Read more about Microsoft Dynamics GP

Posted by & filed under Manufacturing & Distribution.

Read more on "Learn To Determine Which Opportunities To Pursue And Which To Pass" »

This is part 5 of 12 in our series on the importance of owning a business management system. If you missed it, catch up on last week’s post, 3 Ways To Turn Inventory Into A Strategic Advantage. For more insight into the challenges that distribution companies must overcome, be sure to download and read our free eBook, “The road to profits: How mid-size distributors can compete and win in a mega supplier world.”

Not every sale is a good sale. The pressure to win bids can cause you to drop prices or sacrifice quality which can threaten profit margins. Before you know it, you could end up losing money on a project or customer. Use the SWOT (strengths, weaknesses, opportunities, and threats) analysis to determine which customers to satisfy and which to pass.

SWOT

 

In an effort to boost sales, it may be tempting to bid on any project that comes your way. However, you may not always have the time or the right team of experts to devote to a potential opportunity and not every project can yield the profit margins that you want. Being choosy can actually be better for your business as well as your bottom line. In order to know which products to bid on and which to avoid, you need reliable financial data. Get the details you need for your SWOT analysis by implementing one of today’s innovative business management solutions.

As highlighted in this complimentary eBook “The road to profits: How mid-size distributors can compete and win in a mega supplier world,” distributors that utilize a comprehensive business management solution can access data quicker and easier than those that utilized disparate specialty solutions. Instead of poring through spreadsheets and files, you can use the real-time data at your fingertips to make a quick decision. You can evaluate profitability by product line or by line-item, evaluate current supplier pricing and promotions, consider potential competitor information, and make a determination about whether to bid or remain focused on the opportunities at hand. The quicker you can access relevant, accurate data, the quicker you can prepare a bid or get back to your current projects and customers.

The business intelligence and robust reporting features in an integrated business management solution offer a more efficient and accurate way to get to the data you need for a SWOT analysis. Download this free eBook and contact TGO Consulting for more information about using the right business management solution to determine which opportunities to pursue and which to pass.

 Are you a mid-sized distributor trying to compete in an Amazon.com world?

Gain insight into the challenges that distribution companies must overcome:

distribution ebook

Posted by & filed under General, Sage.

Read more on "Sage ERP X3 version 7: Increase Control over Processes" »

Next up on our Sage ERP X3 version 7 blog series, we will be discussing the increased control of Sage’s new release. If you missed the last one, visit our blog on Mobility.

As your business grows, so do the demands of your processes. The way you used to do things, just isn’t as effective as it could be with today’s technology. With the growing needs of an expanding business, an integrated solution like Sage ERP X3 version 7 can be adapted to fit your company’s specific requirements. It will also allow you to take back control over the important areas of your business. These areas could include:

Speed

Using a modern ERP solution will increase the velocity of which your information travels, increasing efficiency and effectivity. Improved and structured processes will close or reduce gaps, empowering your employees to get tasks done faster and serve your customers better.

Quality

Failing to deliver in the area of quality can have detrimental implications to your business. With an ERP Solution, your company can enforce quality control processes and remain consistent with the level of service or product you deliver.

Traceability

Implement complete forward and backward transaction traceability with Sage ERP X3 version 7. Recognize issues, track problems and identify solutions while taking control of the situation immediately at multiple levels.

Collaboration

Locations, time-zones and appointments are no longer barriers for collaboration. Team members can access their ERP solution from anywhere on any device, share documents and modify information with the click of a button.

Want to learn more how Sage ERP X3 version 7 can help you take control?

Read more about Microsoft Dynamics GP

Posted by & filed under Manufacturing & Distribution, Sage.

Read more on "3 Ways To Turn Inventory Into A Strategic Advantage" »

This is part 4 of 12 in our series on the importance of owning a business management system. If you missed it, catch up on last week’s post, Avoid Stock-outs without Overstocking. For more insight into the challenges that distribution companies must overcome, be sure to download and read our free eBook, “The road to profits: How mid-size distributors can compete and win in a mega supplier world.”

Distributors work hard to maintain control over inventory in order to fulfill orders and keep customers satisfied. However, increased visibility into the supply chain and inventory trends can become an even greater advantage. Here are three ways to turn inventory management into your strategic advantage.

1. Make better procurement decisions

An integrated business management solution can provide greater control and insight over inventory trends. You can monitor customer behaviors and product trends to determine which products to stock up on and which you may want to replenish as needed. Determine fast-moving and slow-moving inventory and identify the seasonal or other fluctuations that can affect decision-making. As suggested in “The road to profits: How mid-size distributors can compete and win in a mega supplier world,” this visibility can limit unnecessary overstocking while avoiding annoying stock-outs.

Stressed warehouse worker
2. Save money with strategic orders

Close attention to product trends and customer demands will make it possible to take advantage of special supplier pricing.       You may be able to purchase in bulk, at reduced costs, for items that you know will sell well. You can also save money by avoiding overstocking items that are waning in popularity. A warehouse full of items that you can’t move ties up cash that could be invested in other parts of your business. (No one wants an inventory write-off if it can be avoided!)

3. Prepare for supply chain interruptions

You can manage supplier data within a comprehensive business management software solution. Maintain product specifications and shipping information, including pricing and timing. Include performance data so that you can identify secondary suppliers when your primary supplier is unable to deliver. Quick access to supplier data can minimize supply chain disruptions by knowing which suppliers you can rely on and which don’t fare as well in certain situations.

Added control and insight into your supply chain, inventory trends, and customer behaviors can turn inventory management into your strategic advantage. Contact TGO Consulting for more information about finding the right integrated, comprehensive business management solution for your exact business needs.

 

Are you a mid-sized distributor trying to compete in an Amazon.com world?

Gain insight into the challenges that distribution companies must overcome:

distribution ebook

By TGO Consulting, an authorized Sage ERP X3 Partner headquartered in Toronto, Canada