Achieving success in the B2B Food and Beverage Distribution Industry is no easy task. No matter what products your business sells, success in the Food and Beverage industry is often determined by 5 key fundamentals.
- Inventory Management
- Operational Process
- Selling Methods
EasyVend has put together 5 Tips for Running a Successful B2B Food & Beverage Distribution Business in 2023.
1. Get Your Inventory Under Control
A lot of your success will come down to how your business manages inventory. Let’s face it, product inventory isn’t cheap. The last thing that your business wants is for products to expire before they are sold. In saying that to achieve success, it is important that you manage your inventory strategically.
To take control of your inventory management it is important that you forecast your product ordering and sales cycle. Get together with your accountant or bookkeeper and analyse your businesses sales figures. See what products are popular, how often they sell and how often you need to re-order.
Once you have that information try to make predictive orders that reflect your demand during that timeframe. Forecasting your ordering will help you stay on top of inventory management and will greatly minimise the risk of having products expire before they sell.
2. Hire the Right People
Your staff are pivotal in determining whether your business is successful or not. The only that you can run a successful Food and Beverage distribution business is to have strong, motivated staff that work together to achieve results.
It is important that your business hires motivated and like-minded employees that share the same passion as you do for the business. Having a strong team implemented will improve results and workplace morale. When a strong team works together, you will achieve great results that propel your business further into the future.
3. Automate Daily Processes
One of the biggest mistakes that so many businesses make is working in the business instead of on the business. When this happens business often find that growth stagnates and cashflow shrinks. To achieve success in the food and beverage industry in 2023 it is vital that you automate daily processes.
Implementing an Industry Specific Food and Beverage Management Software like EasyVend, Distribution businesses can automate many daily tasks like ordering, inventory management, invoicing, receipting, route management and accounting in the one platform.
The benefit of automating your tasks through a Food & Beverage management system is it will free you up to focus solely on growing revenue and profits.
4. Invest in Online Ordering
Don’t realise the importance of Online Ordering? Statistics show that almost 70% of Food & Beverage orders are generated online. To put it simply, to acquire and retain customers in 2023 you need to invest in Online Ordering.
The main benefit of having an Online Ordering Website is it will simplify your customers ordering process. Customers can place orders online at a time that suits them best. The benefit for your business is you won’t need to manually take orders over the phone or by email again – everybody wins!
5. Leverage Customer Reviews
They key to running a successful business in any industry is adapting to market trends and changes. The only way that your business is going to be able to adapt is by seeking reviews from your customers.
After a customer purchases from your business ask them to rank the experience and leave feedback on your products and services The benefit of gaining customer reviews is the feedback given will help your business adapt your offering to better suit their current needs. The better you make your buying experience, the more customers you will acquire and retain!
Achieving success in any industry isn’t easy. To achieve success in the Food and Beverage Industry, your business needs to review process, adapt to the customer, and implement strategies that leverage future growth.
We hope you enjoyed reading this article. To read more articles like this, please visit the EasyVend latest news page here.
For food and beverage businesses, EasyVend supports and automates every part of your business, freeing you up to grow your sales simply, unlike other ERP systems.
To learn more about EasyVend and what sets us apart call us today on 1300 473 744 or submit the form below.