Artificial Intelligence and Distribution
The future of distribution will rely heavily on artificial intelligence (AI). Many retailers and distributors have already adopted applications that feature the use of AI, such as smart checkout systems or service robots. The use of such applications is not expected to disappear any time soon. As our technological world continues to advance, artificial intelligence is leading the way for distribution. To stay relevant and competitive, distributors must adopt AI.
How AI Is Used in Distribution
If you want to increase your sales and continue to scale your business, here’s how different departments can use artificial intelligence.
- Sales & Customer Service: Equipping your sales team with AI-powered technology has the potential to increase their sales output tenfold. By harnessing the power of artificial intelligence, your representatives can gather a slew of helpful information, in real-time, such as recent orders, product availability, cost, delivery date, etc. Instantly accessing this information during a sales call helps the representative relay accurate recommendations and ultimately improves customer satisfaction.
- Purchasing & Inventory Management: Preventing stockouts and overstocks is one of the most challenging aspects of inventory management. Fortunately, AI has made great strides in improving the accuracy of purchase orders. With the assistance of artificial intelligence, distributors gain a more precise understanding of when it’s time to order new inventory or when to liquidate stale products. This precision is made possible by algorithms that monitor pricing, economic conditions, seasonality of items, weather, and several other variables.
- Operations: Many operations tasks can be automated with AI, in turn, speeding up the process and increasing sales. From reporting to task management, artificial intelligence plays a crucial role in propelling your operations team forward. By transitioning from manual to automatic, the rate of human error decreases as data is being self-collected and analyzed to offer accurate business insights.
Take on the Future of Distribution
Regardless of company size, artificial intelligence plays a crucial role in your future success. Wholesale distributors must adapt to the evolving industry to remain competitive and profitable. The majority of distributors simply rely on the minimalistic features that are built into their pre-existing enterprise resource planning (ERP) systems. While this is a fantastic starting point, it will only take your company so far. Legacy ERPs are simply not able to keep up with the rate at which technology evolves. A powerful AI tool, however, is built to thrive in a state of constant change. To endow your current ERP with high-functioning artificial intelligence and successfully take on the future of distribution, check out Recurrency.