3 Ways Collaboration with Key Clients is Powerful with Integrated ERP
Providing the right level of service to key customers can feel like a never-ending race. But information such as advance ship notices to trading partners does more than build loyalty; it can set you apart from your competitors.
Data sharing with key customers strengthens your relationship and ultimately increases profits for both you and them. Here are the top three ways data sharing can be so powerful with integrated ERP:
- Be Prepared: By proactively identifying sales trends, you can improve forecast accuracy and know what your customers are thinking without having to kill yourself drawing it out of them. You can also minimize supply chain costs and disruption through accurate and responsive forecasting.
- Be Right (more often than not): By building on market knowledge and purchase data to provide timely assortment recommendations, customers will look to you as their trusted advisor because you have the information they’re looking for and the capabilities to offer great customer service along the way.
- Be Efficient (even when time isn’t on your side): Giving customers more insight into their orders ensures shipping accuracy and reduces out-of-stocks and lost sales, ultimately improving lead times. You can also monitor inventory levels through POS data feeds.
A great example of a relationship strengthened for good is a small kitchen appliance manufacturer who had supplied a large customer with products for more than a decade. Through a close relationship with the chain’s buyer, the manufacturer heard that another vendor was being considered for an exclusive supply contract. Taking a proactive approach, the manufacturer offered a new program to provide weekly reports to the chain purchasing manager for inventory on-hand, inventory turns and average inventory for each location. In addition, the manufacturer would provide quarterly promotions based on the chain’s forecast sales. The customer responded to the manufacturer with an exclusive contract deal.
Integrated ERP can make all this possible. ArcherPoint’s eBook, “It’s 8:00am, Do You Know Where Your Inventory Is?” provides more examples like this on why integrated ERP is the right choice.