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  • LLR Partners Invests in Supply Chain Management Software Leader Magaya Posted 3 months ago

    Magaya Corporation announced an investment from LLR Partners, a middle market private equity firm committed to creating long-term value by growing its portfolio companies.

  • Mapping Out Growth: Wholesale & Distribution Companies Posted 3 months ago

    A walkthrough of some key steps and insights for Wholesale and Distribution companies that are looking to grow in 2019.

  • 3PL Industry Trends in 2019 | Webinar Posted 3 months ago

    Logistics software designed for 3PL's day to day responsibilities. Watch this webinar to explore how the 3PL industry trends for 2019 are changing the industry and what you can do to grow your business with these trends. Learn how to leverage these trends to take your business to the next level. Map out your growth according to the trends that affect you and your customers.

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Mapping Out Growth: Wholesale & Distribution Companies

Getting Started

Are you looking to grow your business in 2019? After many years of experience in the industry, the Magaya team has had the opportunity to work with multiple businesses and help them as they grow. We’ve outlined a few suggestions for businesses of any size to consider, on any point of the supply chain.

Assessment
  1. Identifying your growth opportunities. Start by making a list of your current customers, take a look at which ones bring you the most income. Once you understand their business' needs, leverage them. Take a look at the growth of their market. For example, if it is eCommerce you know that there is $735 billion dollar growth expected by 2022. Side note: if you haven't checked out our Industry Trends Webinar series, now would be a good time. Understanding these trends will allow you to serve your customers from a better-informed place.
  2. Growth also comes from the ability to monitor and measure performance. Know what your current levels are, and establish goals and key performance indicators (KPIs). Then, establish a cadence to check these goals and what to measure your KPIs against.
  3. You want your operation to be able to anticipate, quickly scale, and support rapid expansion. Be proactive and map out processes to support peak levels of performance at all times.
  4. Lastly, you want to be able to provide and capture accurate, real-time data for your customers about every order, shipment, and delivery to consumers worldwide.
These suggestions may seem hard to implement, but with the right technology, it’s easy to keep track of these metrics and workflows. If you want to take a look at some of the top industry trends, check out our 3PL Industry Trends webinar below.

 


Your Tech Stack

One of the most searched keywords on the web for the supply chain industry is "inventory management software" with an average of 5,400 searches a month. "WMS software" is at 880 searches a month. A percentage of these searches represents potential customers that are looking for services you can offer. Understanding the market needs and what your potential customers are looking for will help you in your search for the best technology to support your operations, and your planned growth. Now that you have done the assessment of your business, its needs, your current and future customer's needs, and where the profits lie, you want to find the technology that best supports all your endeavors. Your ideal Warehouse Management System (WMS) will seamlessly integrate with your suppliers, the retailer's product information, eCommerce stores and marketplaces, warehouse inventory, and your delivery systems. The ability to offer a consistent and smooth experience will remind your customers of your warehouse’s value. You also want to have the capacity to scale quickly to safeguard against digital demand spikes coming from eCommerce sales, ensuring these spikes do not impede the ability to provide the best customer service possible. Your tech stack needs to help you automate daily processes easily to save you from manual errors and time-consuming tasks. These processes can include commerce quotes, processing sales orders, or an item back-ordering system. Let's go over some key features you want to include in your tech platform.

  1. Automate the system to track inventory levels and to purchase from preferred vendors. Also, replenishment can be done.
  2. All the related accounting processes are included in one system.
  3. When items are ordered, you want to be able to pick, pack and then release them with a single cargo release document for deliveries.
  4. Have the ability to customize put-away and picking sequences for optimal productivity for your warehouse workers.
  5. Create smart replenishment procedures.
  6. Allow your customers to view stock levels in real time.
The Growth Drivers - Understanding eCommerce

The rapidly growing eCommerce industries offer an enormous opportunity for growth. The boom of eCommerce has blurred the lines of B2C and B2B, with the expectation of ‘anytime, anywhere, from any device’ from customers wanting a seamless omni-channel experience. To expand on this growth, we’ve created a webinar on eCommerce 2019 Trends. Wholesale and Distribution companies, and Logistics providers as a whole, need to meet demands for more flexibility and visibility.

 

Fulfillment Strategy

When it comes to your fulfillment strategy, whether you own inventory or not, every aspect of each customer’s fulfillment chain must be locked down before any shoppers arrive. Offering your clients flexibility in size, services, and location allows them the ability to react to demand in the shortest amount of time possible.

The ‘anytime, anywhere’ delivery models will be required to meet the promises made by companies to final consumers(1). The ideal flow starts with notifying your retailers or partners when the pick-up request comes, and the delivery service receives their marching orders. A constant chain of communication, all of which is automated, keeps you atop your customer service game. The physical picking, packing and fulfillment process is being handled within the confines of the warehouse’s four walls and they hold the keys to the buyer’s satisfaction. With the right technology and plans in place, the ability to grow your business in 2019 is possible. If you want more information, watch our "Fulfillment Perfected" webinar were we chat with Industry experts about the changes companies are having to face when it comes to fulfillment .

We would love to learn more about your business as well! Call us today to chat about your growth plans and what technology needs we would be able to fulfill.

(1 - link to 2019 Logistics Trend Radar. DHL Trend Research. pg.29: Link Here)










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