28 Nov Tackling Rising Equipment Price Trends with NetSuite and AutoQuotes
Growing inflation rates have had a significant impact on equipment and products needed to run a restaurant business. Price trends developed by AutoQuotes for the fiscal period of June 2016 to July 2017 saw increases in almost all categories. Janitorial supplies have gone up by more than 5% while tabletop, storage, transport, warewashing and sinks have had an increase of over 3%. Meanwhile, equipment for beverages, warming food, holding food and displaying merchandise has seen a modest increase of more than 2%.
With all of these price increases, trying to manage a tight budget can become harder for restaurant equipment distributors. They must come up with strategies to make more profits while decreasing expenditures. Unfortunately, they can find their profit margins instead being eaten up by these price trends. By integrating NetSuite and AutoQuotes into your business management processes, you can reap the benefits with more cost-effective solutions.
Greater Distribution Process Visibility
Where in your processes are you spending the most? Why are you spending so much and can you cut down on costs? These are the answers that AutoQuotes and NetSuite can offer. You gain greater visibility in your distribution processes, as you can learn more about your supply chain areas that are costing you more money than it should.
Effective Inventory Management
Carrying obsolete or excess inventory can be detrimental to your restaurant equipment distribution business. You can gain better purchasing management solutions with these integrated strategies to ensure your purchase the right amount of equipment from manufacturers. You can learn about what products are trending with your customers and then fulfill orders with faster delivery times.
Enhanced Customer Service
Delighting customers can help increase your profit margins. With NetSuite and AutoQuotes integration, you can offer better customer service by instantly accessing order history and accounting information for the customer. Then you can ensure that customers get the products they desire that are available while decreasing back order costs.
Keeping up with rising prices is a monumental task for restaurant equipment distributors. With integrated solutions of NetSuite and AutoQuotes, you can better manage your spending, please customers, and track your supply chain processes for more cost-effective operations.