PRM Systems for a Manufacturer – Distributor Interaction
Manufacturers and distributors are key players in the goods and services supply chain. Today`s business landscape is marked by quick changes, fierce competition, and evolving consumer demands. For this reason, manufacturers and distributors have to ensure efficient and fruitful cooperation, enabling them to stay flexible and responsive to market shifts.
In this article, we will take a look at what a PRM system means for businesses and explore tools that allow for tailoring partner interactions without interfering with business processes.
What is a PRM system for business?
A PRM system is a software solution designed to manage and optimize the interaction between manufacturers and their distributors. It collects, stores, and shows necessary partner information, helps exchange data, adjust sales and marketing strategy, create reports, and more.
PRM Kit is a set of PRM system tools, developed using our fdForge low-code platform. Through automation, the system creates a unified environment for partner interaction and minimizes human error.
The PRM Kit consists of ready-made, tested modules that can be customized to suit your business needs:
- Manufacturer`s account
- Distributor`s account
- Product catalog
- Inventory management
- Order history
- Document management
- Reporting
- Loyalty program
- Financial module
- Analytics dashboard (widgets)
PRM Kit modules functionality
Manufacturer`s account
It lets manufacturers create a product catalog, manage inventory, handle documentation, and finances, and track all interaction processes with partners within a unified system.
Distributor`s account
It`s a handy tool that allows partners to keep track of all necessary interaction processes with the manufacturer and includes the following sections:
- partner details
- list of in-stock items
- documents and their statuses
- order history
- support (available in chat) – for direct communication with a manufacturer's agent
- widgets showing statistics on orders, payments, and more
- notifications are a distinct feature. These are push messages with reminders, tied to specific action dates.
Product catalog
Within this module, manufacturers can choose to create a catalog manually or import an existing one by uploading a file into the system.
Additionally, they can create special sales terms by setting up a unique price for an individual partner or a particular group of partners. For example, a specific distributor can get a unique price based on the order amount, or it could be adjusted when a specific order quantity is reached.
Inventory management
Within this module, it`s possible to both manually enter product information into the system and import data from a file that is based on the catalog structure (e.g., quantity, categories, and more).
When integrated with an external inventory system, fdForge automatically gets information and saves it in the familiar format, thereby keeping internal workflows unaffected.
Order history
In this module, the manufacturer can sort agreements (orders) into categories (like "upcoming," "ongoing," "closed" and more). Data is automatically transferred to this module after the partner places an order in their individual account.
Document management
In this module, the manufacturer can generate the required documents within the system automatically. They can create document templates (such as contracts, invoices, and service agreements) by pre-uploading them into the system. Variable data for templates is pulled from other modules (for example, legal and financial partner details are sourced from the partner database, order information from the cart and catalog, and more).
Reporting
This module allows the manufacturer to generate reports using selected parameters within the system. You can choose partners, a period, and the required data to be displayed in the reports.
Loyalty program
It is a multifunctional tool that empowers the manufacturer to configure an automated loyalty program for partners based on various parameters within the system. This might involve considering factors such as the number of orders within a certain timeframe, the amount of money spent by the partner, certain product categories purchase volumes, and more.
Financial module
A tool that enables you to track and manage all payments within the system. Additionally, it`s possible to integrate with external programs, such as payment or accounting systems.
Analytics dashboard
Widgets are graphical forms presented as tables, charts, and histograms. They help visualize statistics by adjusting necessary parameters in the system.
This might be average order value, dynamic indicators, statistics related to partners or orders, overall turnover for specific periods, partner-specific information and categorization, and more. With the data at hand, you can gain insights and chart a course of action to improve business efficiency.
PRM systems are in high demand as they create transparent and efficient communication channels for engaging with partners in a unified environment. Additionally, they help automate a variety of routine tasks, ensuring their quick and accurate execution. This, in turn, simplifies reporting and analytics necessary for making crucial managerial decisions and achieving greater business success.
If you're exploring ways to improve the effectiveness of communication between the manufacturer and distributor – leave your contact details in the form. Our manager will get in touch with you, explain all the advantages and capabilities of the PRM system, and suggest the most suitable solution for your business.