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Loss prevention refers to the steps businesses take to reduce profit loss through theft, cybercrime, fraud, and human errors. Loss prevention is not only an important part of remaining profitable but also improves customer satisfaction and employee health and safety. What Is Loss Prevention? Loss prevention has several definitions. Retail loss prevention, for example, refers to shrinkage due to stock ... Read More

It's easy to see how businesses can confuse enterprise resource planning (ERP) and customer relationship management (CRM) systems. CRM often forms part of your ERP software package, and both are used to streamline and automate business processes. Both touch multiple departments, serve as vital data repositories, and may even be built on the same platform. However, they are far from ... Read More

Whenever you have a new business idea, it’s important to do enough due diligence to determine whether or not it's feasible. This could be a brand new, novel business idea or simply an expansion of your existing business – like modifying an existing product offering or expanding a specific department. Your break-even point (BEP) reveals the moment your business idea ... Read More

Enterprise resource planning (ERP) systems are becoming more popular for growing businesses, and as a result, the need for effective ERP integrations is increasing. ERP integration is the method by which a business can connect its ERP software to its other systems in order to share data that can improve productivity, provide insights and create a single source of truth. ... Read More

Choosing the right enterprise resource planning (ERP) software solution from the plethora of ERP systems available on the market right now is daunting enough, but it seems that as soon as you narrow down your choices, your consultant, IT manager, and even the software providers themselves start driving home the point of an ERP implementation plan. Without the right ERP ... Read More

Managing inventory is one of the biggest challenges a company faces, whether big or small. Getting it right means that your business has the right parts and raw goods, in the right amounts, at the right time, in one or even across multiple warehouses. This reduces production bottlenecks in the manufacturing process and optimizes order fulfillment time in distribution businesses, ... Read More

Cloud ERP systems, as opposed to on-premises systems, are enterprise resource planning systems that run on a cloud platform and enable organizations to access their ERP over the Internet. There are numerous benefits to integrating, automating, and accessing your essential financial and operational business functions online. Choosing the right ERP provider is the key to unlocking the advantages of a ... Read More

For many businesses, their biggest challenge isn't developing a best-of-breed product but how to promote and sell it to the public. Despite myriad options, finding the right distribution channel remains a challenge. In this article, we'll discuss the various channels for indirect and direct distribution as part of your company's strategy, and the pros and cons of each. What Are ... Read More

How to start a wholesale distribution business, from choosing a niche and distribution model to inventory, suppliers, and the ERP tech stack that ties it together.

A clear guide to the types of ERP systems with examples, from ERP-in-a-box to industry-specific and cloud ERP, plus how distributors choose the right one.

An ERP system contains many of the same features as the average accounting software package. They are sometimes confused with each other, but make no mistake – they are completely disparate systems. Whether or not you need a complete ERP solution or an accounting software package depends on your business needs and what you want to achieve. Let's dive into ... Read More

When a business grows rapidly, it eventually reaches a point where managing the business data in spreadsheets will no longer cut it. This is where an ERP comes in. ERP systems help a business collect and organize information to improve operations effectively while a business expands. Even though many professionals have heard about enterprise resource planning software, the concept of ... Read More