Wholesale & Distribution International - Winter 2018 - 15

views and key influencers like artists and
producers. Blue Microphones is also able
to capture customer feedback directly in
the system, which can be shared directly
with engineering and overseas manufacturers to improve products.

LEVELING THE PLAYING FIELD

UNIFICATION IS KEY
At first glance, businesses may think acquiring multidimensional capabilities
involves bolting together best-of-breed
systems to accomplish industry-specific
processes. But to support a truly integrated crossover business, a single core system needs to be able to handle the key required functionality across all three types
of businesses (retail, wholesale, and man-

ufacturing). However, synchronizing
master data across customers, suppliers,
products, parts, and other sources can be
a big challenge. The same is true of synchronizing transactional data or trying to
consolidate spend. These things happen
automatically and are much easier when
there is a unified system with a single database, providing a single version of truth
across the entire firm.

BROADENED CAPABILITIES
As a company's mix of products, services,
delivery and payment models becomes
more diverse, it requires a much more
flexible and unified financial system that
can support a single invoice and revenue
recognition across the goods, services,
subscriptions, as-a-service, financing
payments and everything else the company bills for. Nobody wants to receive
several different invoices from the same
company; one for products bought, another for subscriptions, and different
ones for various services.
With a unified platform for financials,
fixed assets, demand planning, inventory management, bill of materials, work
orders and assemblies, warehouse management, CRM, HR and multi-currency
transactions, Blue Microphones now has
a single source of the truth across its entire business. This enables unique experiences such as the ability to setup a virtual
warehouse for its marketing group, which
sequesters key products for product re-

BEST PRACTICES

As its product lines and reach grew, so
did the ways in which its different types
of customers wanted to access those
products, prompting Blue Microphones
to innovate across traditional industry
lines and deliver capabilities not only of
a manufacturer, but also as a retailer and
wholesale distributor.
Blue Microphones' story resembles
that of so many manufacturers with a
wildly successful product who are empowered by consumers to become retailers in their own right. That paradigm shift
- driven by increased consumer expectations - extends to retailers, manufacturers and wholesale distributors alike.
As a result, companies must blur the
lines between traditional retail, wholesale distribution, and manufacturing operations and weave seamless buying experiences for their customers across all
these channels. Emerging companies like
Blue Microphones are leveraging technology to become a crossover business
with multidimensional capabilities.

As a growing business, automating backend processes on a unified platform has
increased efficiency and allowed Blue
Microphones to deliver customer experiences once privy to only the largest
companies. In today's world, even small
companies need many of the same systems and operational capabilities of
their larger competitors. When selecting a system, companies should look for
one that provides a full breadth of capabilities that can start in a small footprint
and expand as the company grows. With
multidimensional capabilities, Blue Microphones is on the path to sustained
and even accelerated growth - it expects
to double or triple revenue over the next
five years.
As Blue Microphones has demonstrated, a unified platform can empower companies with the functionality and agility to
become a successful crossover business
and drive industry - and even cross-industry-leadership within their product
categories. And, with a platform that can
scale, these companies don't need to worry about replacing aging systems built for
smaller companies. They just need to worry about managing growth and delivering
great customer experiences. q
Sam Levy is vice president, manufacturing and wholesale distribution for Oracle
NetSuite, a leading provider of cloud-based
omnichannel software that helps retailers
transform commerce by seamlessly connecting every step of the business including
e-commerce, POS, CRM, order management,
inventory, merchandising, marketing, financials and customer service. For more, visit
http://www.netsuite.com/portal/industries/
wholesale.shtml.

Winter 2018 www.wdimagazine.com

15


http://www.wdimagazine.com

Table of Contents for the Digital Edition of Wholesale & Distribution International - Winter 2018

Table of Contents
Wholesale & Distribution International - Winter 2018 - Cover1
Wholesale & Distribution International - Winter 2018 - Cover2
Wholesale & Distribution International - Winter 2018 - 1
Wholesale & Distribution International - Winter 2018 - Table of Contents
Wholesale & Distribution International - Winter 2018 - 3
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Wholesale & Distribution International - Winter 2018 - Cover3
Wholesale & Distribution International - Winter 2018 - Cover4
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2018_vol5issue1
http://www.nxtbook.com/nxtbooks/knighthouse/wdi_2018winter
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