A reliable wholesale management system is important to the smooth operation of your e-commerce business. In addition to maintaining profits, it ensures that every sale or delivery is executed to a high degree to guarantee client satisfaction.
Wholesalers like you face a range of challenges in a competitive market like e-commerce. On top of the dynamic market conditions, there’s always this underlying pressure to remain consistent and efficient to position your business for long-term success.
That’s why it’s important to have a system that will hold you down. In this article, we’ll talk about the importance of a complete wholesale management system and the 3 major parts you need in your WooCommerce store. We’ll also discuss the best wholesale management tools that you can use!
What Is A Wholesale Management System?
Essentially, a wholesale management system is a set of processes or tools that allows wholesalers to sell or distribute their products in bulk effectively. To best understand how this system works, let’s first discuss what wholesale management is:
The management of a company that sells items wholesale, or in large quantities for less than retail, is referred to as wholesale management. After accounting for profit margins, wholesale buyers often resell the products to end users.
Usually, wholesale businesses run in two ways:
- The wholesaler buys goods in bulk from producers and then resells them to a retail establishment.
- The wholesaler manufactures its goods to sell directly to retailers, who subsequently redistribute the products to customers.
Importance Of A Complete Wholesale Management System
There is a lot to manage in a wholesale business. This includes, for example, the requirement to satisfy constantly shifting consumer demands and needs; managing and expanding a wide range of product industries; handling supply chains; monitoring margins, and the like.
An all-in-one wholesale management system gives you total visibility over your whole company, empowering business owners to handle difficult situations.
It enables transparency and control over purchases, stock control, logistics planning, packaging and shipping, and many more. Additionally, it removes the need for data to be manually entered into several systems, lowering the possibility of mistakes.
Here are more reasons to consider a complete wholesale management system:
- You gain more business and planning insights
- Produces better accounting and financial processes
- Increases your store’s retention and brand visibility
- Improves your inventory management
3 Parts Of A Complete Wholesale Management System
Now that you know the benefits of having a solid wholesale management system, let’s jump into its 3 major parts:
1. Wholesale Pricing
Pricing is the process through which a company determines the best price for its products.
You may compute wholesale prices using a number of mathematical methods. Fortunately, though, there are only a few factors to keep in mind when pricing products for wholesale:
The wholesale price is what you charge for a product when you supply it in bulk to important trade or distribution groups, as opposed to what you charge to consumers. This can be calculated by multiplying the cost of the item by the manufacturer’s profit margin.
To operate a wholesale business, you must obviously set wholesale prices; else, you will lose a great deal of money. The issue is that Woo’s built-in features aren’t adaptable enough for this level of pricing.
Therefore, you will need a sophisticated third-party plugin like Wholesale Prices (Free) to easily set wholesale pricing. This gives you the option to add a fixed wholesale price to your individual products:
If you’re looking for more advanced wholesale pricing functionalities, on the other hand, you can always check out Wholesale Prices Premium!
This powerful plugin lets you effortlessly manage wholesale pricing across various user roles, adapt your product catalog for wholesale customers, comply with the strictest tax regulations in your country, and many more.
More importantly, it provides you with two additional wholesale discount options:
2. Order Form
Then, when your prices are finalized, it’s time to start accepting orders!
An order form is a document that captures and stores business transaction records. It is an indispensable aspect of purchasing, selling, and a variety of other processes, especially for sizable purchases and/or high-value deals.
This is because, in many ways, it helps in managing sales volume and keeping things organized while simultaneously enhancing store productivity.
Whether it’s a simple online template, invoicing software, or a plugin, keeping a physical record of your transactions as a store owner accepting bulk purchases is essential if you want to streamline your store’s selling and delivering processes.
But, because online stores are more challenging to handle than brick-and-mortar shops, adding a superior order form plugin, such as Wholesale Suite’s, is the best option for efficiently managing your transactions in WooCommerce!
Wholesale Order Form is an easy-to-use and effective solution to provide fast ordering options for your WooCommerce products. And just recently, we completely rebuilt this tool to bring you a superior order form program that will improve customers’ purchasing experiences from your store.
Here are a few features we upgraded that will surely improve how you manage orders in your store:
- Multiple Order Forms – you can create several order forms all at once.
- New Form Builder – customize the look of your order forms with the new drag & drop form builder.
- Order Forms May Be Placed Everywhere – modified it to increase the forms’ adaptability.
- API Integration – most recent version makes use of both WooCommerce’s Product API and our Wholesale Suite API to deliver lightning-fast performance.
3. Lead Capture
Last but not least, you also need a strategy for growing your consumer base or retaining current ones. Keep in mind that WooCommerce has an unending cycle of persuasion! If you stop after the sale, you can’t set yourself up for the long run.
One of the easiest (and most effective) ways to grow your customer base in WooCommerce is through lead registrations. This is why many marketers today put a lot of effort into generating traffic for their websites, from SEO to PPC ads and social media initiatives.
And yet, truth be told, turning their hard-earned visitors into sales is not a walk in the park.
Although the majority of lead generation tactics still revolve around the standard in-page forms, customers these days are more skeptical, demanding, and protective of their personal information.
Static forms simply don’t function as effectively as they previously did. Long forms may even be damaging your potential to generate leads because they no longer offer visitors significant value.
So what do successful business owners use to onboard leads into their systems? A simple registration form that’s readily adjustable so that it’s easier to respond to dynamic market trends.
Downloading Wholesale Lead Capture is the first step in designing and installing a straightforward registration form for your wholesale store. This premium plugin comes with a registration form builder that makes it simple to add and alter form fields.
You can also enable spam prevention and pre-fill checkout forms with registration information. Best of all, it has an extensive user approvals system that, if users have approval, automatically assigns them the wholesale job.
Wholesale Suite Bundle
Knowing the three main elements of a comprehensive wholesale management system is one thing; having them all function equally in your store is quite another.
Why not choose a comprehensive yet user-friendly solution if you want to have these three key systems to maximize the potential of your store?
Wholesale Suite Bundle is a comprehensive wholesale solution jam-packed with three #1 rated WooCommerce plugins. Plus, it allows you to access these premium plugins at a lower cost. Talk about convenience and efficiency in one, right?!
For your e-commerce business to run smoothly, you need a solid wholesale management system. In addition to maintaining profits, it makes sure that each sale or delivery is carried out to a high level to ensure customer satisfaction.
In this article, we discussed the importance of a complete wholesale management system in your store. We also shared three majors systems you need to have:
- Wholesale prices
- Order Form
- Lead Capture
Do you have any questions about wholesale management systems? Let us know in the comment down below or send us a message!