Online retailer to consumer retailing has become prominent to such an extent that the physical stores these days are holding less inventory as compared to earlier times. With simple, bother free – and regularly totally free – returns, digital trial rooms and speedy consumer administration, purchasing online is as predominant as ever and, actually, pivotal to achieve.
Strangely, the business-to-business wholesale model has been average to grasp the online world. It has stuck, rather, to pen and paper, trade shows and showroom arrangements. However, this is evolving. A huge number of youthful organizations are venturing into the wholesale tops online marketplace. There are several benefits associated with online wholesale marketplaces.
Firstly, it provides more chances to meet new trading accomplices and find new business in your own supply network and across supply networks.
Secondly, it is a transparent business set up since costs, stock levels, and product availability are all accumulated in one spot or marketplace.
Thirdly, you need not worry about international trade and issues related to different time zones.
Fourthly, the use of online wholesale marketplaces makes comparison between different manufacturers, other wholesalers and various re-sellers easy on the basis of products and prices.
Thus, the need of the hour for the wholesalers is to get involved in business process re-engineering. From pen and paper, you must shift to the virtual world of pixels. With automated business processes using online market places, wholesalers can enjoy several advantages in terms of saving on business costs. As all your business processes are automated and work on a real time basis, you can optimize your inventory level by operating on the concept of ‘just in time’, popularly known as JIT. This will save inventory cost and help your business operate at economical levels. This will in turn make your supply chain network more efficient. Also, you need not invest much in expanding your wholesale business to new markets.
With the same online wholesale marketplace, you can gain access to global manufacturers and re-sellers and grab business opportunities in new markets. This acts as a competitive advantage for your wholesale business. The only thing you need to take care of is the transportation and logistics issues pertaining to international wholesale business operations. The online marketplace becomes an alternate channel of sale for your wholesale business which you can operate while continuing with your physical wholesale store business. Being a global wholesaler increases your reputation in the market, which attracts more manufacturers and re-sellers towards your wholesale business.