With each passing day, B2B commerce continues to expand exponentially. The consistent growth in this industry often leads to a significant shift in the way most companies manage their order fulfillment and sales processes with greater focus in areas of speed, inventory control, as well as the ability to meet specific order deadlines.
In every growing e-commerce environment, it is a necessity for the companies to process more orders quickly, but the top concern for most managers is to have better B2B order fulfillment. Before we dive into understanding some of the common challenges that B2B vendors face and the best solutions to resolve them, it is best to understand a key question, what’s the goal of a good e-commerce system?
The Goals of B2B E-Commerce Compared to B2C
Compared to B2C, the goals of B2B e-commerce are quite different; hence, each one has a different way to achieve the goals. B2C e-commerce is more about targeting a pool of audience or customers with lower sales, acquisition here is the focus. However, B2B is about selling higher quantities of services or products to the same buyer. Often, this is not the end customer, but a purchasing person trained to make the best buying decisions. The focus for any e-commerce business should be to use the right tools that will offer convenience, rather than using a catchy and flashy website.
Any e-commerce business should be able to help their B2B vendors achieve their business goals by keeping the orders in a good flow and control. As you read through below, this post should help to address some common problems B2B e-commerce businesses face, and the solutions.
Inventory management is something that always poses to have its own set of challenges, and for most businesses, it only becomes more complex. Today, there is a greater demand for companies to have real-time inventory data and visibility across all locations. Every e-commerce business requires a better system that will allow a complete view of all the orders, which should help them with distribution, production, and order fulfillment for multiple products and brands. For a smooth check and control on the inventory, the best solution is to use a smart wholesale selling tool, such as Order Circle, which should help to monitor stock levels and make inventory control a breeze.
To manage the complexities of various order processes, and activities across different locations and divisions, it is necessary to manage the order processes complexities to reduce order fulfillment costs. This will require you to undertake order processing effectively, practice good shipping, packing, and picking to reduce any financial impact of wasted time, double handling and efforts.
Most companies still rely on receiving their B2B customer orders through conventional channels like call centers, sales staff, or any other organization. However, gone are the old days, and the preferred channel for taking orders now is through e-commerce platforms and websites. Today, a great number of businesses all experience difficulties when it comes to processing orders to meet the demands of customers. The critical factor here is speed to ensure order fulfillment. Rather than applying any existing strategy, to a business environment, most companies have to work better, smarter, and faster to try to keep up with the demands of all their customers.
Tips for Improving B2B Order Fulfilment
The B2B order fulfillment process or lifecycle all begins when a business places an order and it ends upon shipment. Right from the start to the finish, various processes must occur, like billing, inventory evaluation, scheduling delivery, and more. The entire sales process starts with better control over inventory, so you have to optimize inventory control. Note that having an accurate stock level is the main step when it comes to order fulfillment success.
As an e-commerce startup, you need to improve the demand forecasting, since the better, you are able to know the behavior of your customers, the better you can meet their demand. Effective demand forecasting for the sales channel is something that should reduce the chances of dead stock.
Updating your inventory and maintaining the accuracy in real time will ensure that all customers in your business order products that within the stock and not those that are out of it. Better visibility of the inventory will let you keep a track of the inventory levels an let you manage reordering to determine if you need to increase or decrease products.
You should optimize the order management processes so that the entire team in your warehouse is aware of the order fulfillment status. This should help to avoid any delays and B2B order fulfillment should be a breeze.
The best solution for you is to choose the best wholesale order management tool, which should help to boost the performance of your e-commerce business. Just ensure that you check the features of the software you choose.