Business Soſtware
Trends, digitisation and processes in 2024
Recent decades have seen rapid technological change. Digitalisation, automation, and other technological advances have been identified as one of the major trends changing business and transforming industries globally.
T
he use of digital technologies has enabled companies to not just sell extra, but to reshape the business by optimising resources, increasing staff productivity, working more efficiently, and optimising supply chains. This not only aids in reducing costs and increasing profits but provides businesses with greater flexibility and reactivity that contributes to an increase in customer loyalty and satisfaction, offering a better all-round customer experience. James Mitchell, managing director UK and Ireland at Kerridge Commercial Systems (KCS), has identified the ERP trends he anticipates being
30 | electrical wholesaler June 2024 key for the electrical wholesale industry in 2024.
Efficient inventory management The triple supply shocks of Brexit, Covid and the Russian invasion of Ukraine have begun to fade, easing the restrictions on demand and reducing the costs of inventory. While this is positive news for the industry, it does bring potential challenges for electrical wholesalers who have purchased items at increased costs during times of higher rates of inflation and when supply was restricted.
“Keeping a tight rein on your stock is essential, with a strong ERP system, such as K8, a business’s entire stock is opened up to assessment and
analysis. It’s simple to rebalance supply and demand, purchasing and sales, movements, and replenishments, allowing business to significantly improve their ability to respond to changes within the market. Prices can be electronically uploaded from suppliers to ensure they’re always up-to-date, customer prices are based on purchase prices to ensure you retain a profitable business. Being able to gain full visibility and track stock movements, transfers, and availability in an instant allows you to take any corrective action if required. You can even source stock at the quotation stage to ensure it will be available for your important contracts,” explains Mitchell.
ewnews.co.uk
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44
