NAV-X LLC

Partner With Your Trading Partners in 2013

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Manufacturers and distributors know that strengthening relationships with suppliers and vendors can have a positive impact on the bottom line.  First of all, you need to know the right place to get raw materials and products to satisfy customers at the right price.  And secondly (just as important), you need to maintain those relationships by paying invoices on time and even optimizing on group discounts.

It is extremely important for your team to co-communicate and collaborate both internally and with your supply chain. If your systems are disconnected, it gets difficult to organize your entire supplier and vendor data to quickly find the product you need to satisfy customer orders, at the right price, and in the right time frame.  If you had all the information at your fingertips, you could negotiate quantity price breaks or other price rates with suppliers, know what shipping or other expenses are associated with using a supplier, and know who you can rely on in a pinch.  Additional insight into the true supplier costs can help you minimize expenses, when possible, and leverage price breaks to your advantage.

Choosing the right supplier and vendor is critical, but you also need to hold up your end of the bargain. If it takes 30 days or more to pay invoices, then you run the risk of paying late fees and burning bridges with your partners. Many distributors handle their accounting in one system while their vendor or supplier information is in another resulting in delays. If you could connect all systems, then you can automate these processes so that late fees are a thing of the past and partners will be begging to do business with you.

Technology like NAV-X can help you connect your systems so that when you partner up with vendors and supplies, you can maintain a relationship that results in lower costs and improved productivity – all of which can lead to a healthier bottom line.  Contact NAV-X for additional information about how the right technology can provide the insight and control needed to partner efficiently with your trading partners: http://www.distributionsoftware.co/features/purchasing-software/.

 

By Sheldon Kralstein of NAV-X, LLC, Advanced Distribution Solution for Microsoft Dynamics NAV (http://www.distributionsoftware.co/)

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