Mastering sales and order management is crucial for your business’s success. Once you get an order, it’s important to set up the right processes to get it accurately delivered and get you paid on time. Let’s dive into five essential strategies that can transform how you handle sales and orders, ensuring you improve your cashflow.

1. Accurate Purchase Order Handling

Make sure you and your customer are clearly aligned on how orders will be placed and what you are delivering. Ensure you have a standard process to accept and manage orders. This can be done with

• A dedicated orders email address (orders@brand.com)
• EDI connections

Learn about how Pantry.ai can help you automate the order-taking process over email if you don’t have EDI set up.  

From there, make sure to agree with the customer about the following details

• Payment Terms: Define the terms of payment upfront. Negotiating better payment terms can be a quick way to get better cash flow. This can be tricky with deductions but is worth pressing on. 
• Product: Clearly specify the products ordered so the wrong product doesn’t get shipped.
• Size and Quantity: Indicate sizes and whether the quantities are in individual units or cases.
• Shipping Terms/freight: Detail the shipping arrangements and compare costs across freight providers.
• Delivery Date: State the expected delivery date to avoid misunderstandings.
• Price Per Unit: Include the price for each unit to prevent billing discrepancies. 

2. Track Orders in One Place

Choose a system that allows you to track and manage sales orders in one place. Otherwise, you could end up forgetting to invoice or missing a crucial step in the fulfilment process. 

• Easy Tracking: Opt for software that lets you see all your orders in one dashboard. It’s like having a control center for every sale you make.
• Simplify Your Day: With everything in one place, you’ll spend less time juggling different platforms and more time growing your business.
• Smart Insights: This isn’t just about organization; it’s also about gaining insights. See what’s selling, spot trends, and make smarter decisions.

Learn about how Pantry.ai can help you stay on top of your open orders.

3. Forecasting Future Sales

Compare incoming orders weekly in your S&OP Process to ensure you’re not just reacting to your business, but proactively preparing for it.

• Stay Ahead of Demand: Utilize tools like Pantry.ai to predict future sales and inventory needs. This foresight allows you to always be ready with the right stock.
• Avoid Stockouts and Overstocking: By predicting orders, you can balance your inventory perfectly—no more missed sales opportunities or money tied up in excess stock.
• Data-Driven Decisions: Analyze trends and historical data, giving you the power to make informed decisions about production and ordering.

4. Proactive Payment Reminders

Increase your cash flow by reminding your customers a week before the payment is due. Some people get busy and others are trying to squeeze more time. This way, you let them know a timely payment is important to you.

• Timely Reminders: Send out payment reminders to customers one week before the due date. It’s a simple nudge that encourages on-time payments.
• Clear Expectations: Make it clear that payments should arrive by the due date, not just be mailed out. This small detail can make a big difference in your cash flow.
• Maintain Relationships: These reminders are not just about money; they’re also a touchpoint to maintain a positive relationship with your customers.

5. Regular Customer Check-Ins

Regularly checking in with your customers keeps your finger on the pulse of their needs and your product’s performance.

• Stay Connected: Touch base with your customers monthly. It’s not just about sales; it’s about building lasting relationships.
• Gather Feedback: Use these check-ins to understand how your product is performing. This feedback is gold for continuous improvement.
• Encourage Reorders: Remind them to stock up, especially during key selling periods. It’s a win-win: your customers don’t run out, and your sales keep rolling.

Implementing these five strategies can profoundly transform how you manage sales and orders in your CPG business. Start applying these strategies today, and watch your cashflow grow.

Curious on how you can automate order management, fulfillment and forecasting? Checkout Pantry.AI and learn how easy they make it for emerging food and beverage founders.