A trusted supply chain partner is critical for any company’s stability and growth. Their services directly reflect the reputation and success of your business, and you want to partner with a company that can help create a faster, more intelligent, and efficient supply chain.

Choosing the right provider for your organization requires evaluating many vital factors. This blog summarizes four things to look for when selecting a supply chain partner:

1. Wealth of Experience

Your supply chain is an integral part of your business and effectively managing it is crucial to success. It is crucial to select an experienced provider with the expertise to drive efficiency throughout all areas of your logistics network. A history of success is a good indicator of dependability and demonstrates the means to tackle a broad range of challenges.

2. Diverse Capabilities

A prospective provider should have the ability to identify and satisfy your short-term needs and your future requirements. Piecing together your solutions using multiple providers will quickly become frustrating, with each additional touchpoint adding further complications. Look for a provider offering various solutions covering every aspect of your current supply chain needs, such as engineering/consulting, technology, transportation, flexible and contracted warehousing, industrial real estate development, and more.

3. High Safety Standards

Safety comes in many forms – personnel, product, and more. Exemplifying a commitment to standard operating procedures that drive safety in various areas and offering premium product-safety focused services is essential. The provider’s expertise will eliminate lost time due to safety or quality incidents.

4. Ease of Integration and Reporting

Transparency is a vital selling point of a potential provider. The current logistics landscape demands immediate access to metrics and reporting regarding your inventory, which provides added business intelligence and peace of mind.

Introducing WOW Logistics

WOW Logistics is the fastest-growing supply chain solutions provider in the country, with more than 40 years of experience mastering the art of combining our services to deliver integrated solutions to our customers. We offer various services within five core areas: Supply Chain Consulting, Operations, Real Estate Development, Inventory Financing, and Technology Solutions. We pride ourselves on providing quality services that drive efficiency within your operation. Our in-house logistics experts and unparalleled food safety knowledge put product safety first. At the same time, our top-tier technology systems and commitment to consistent processes allow us to streamline your supply chain further.

Learn more about WOW Logistics by exploring our website.

Defining Inventory Financing

Inventory financing is a form of asset-based lending, such as a revolving line of credit or a short-term loan, used to fund inventory purchases. The service is primarily utilized by businesses that are required to pay suppliers before selling product to their customers. While the line of credit or loan is active, the purchased inventory serves as collateral for loan security if the loan cannot be repaid.

Why should I finance my inventory?

Inventory build-ups restrict large sums of capital for long periods of time. If your company self-funds its inventory, your product carrying capacity may be limited, which hinders growth potential. Moreover, inventory continues to incur costs through inbound transportation and storage/handling fees.

Financing your inventory enables you to meet the needs of your customers while also growing your business through strategic initiatives. Consider utilizing this service if you need any of the following within your operation:

• A cost-effective source of capital for strategic business initiatives
• The ability to store your inventory for a certain amount of time before selling it
• A reduction of your working capital without decreasing your inventory
• Locked in favorable prices to minimize the impact of commodity price volatility

An inventory financing provider will help you address these needs so you can direct cash back into your business. Not all inventory financing services are created equal, however, and it’s important to thoroughly evaluate all available options so you can select the best solution for your business. Items to compare when determining the most cost-effective choice include advance rates, interest rates, fees, and restrictions.

WOW Logistics® Inventory Financing Solution

The WOW COMMODITY PURCHASE PROGRAM®, WOW Logistics’ inventory financing service, eliminates the need for you to use your internal capital to fund inventory. We purchase inventory at 100% of its value, as opposed to the 60% advance rate offered by most banking institutions. We require no upfront equity or monthly payments, including storage and handling costs, until your product sells and ships. Our solution also offers you the ability to flex up and down matching inventory build-ups with no non-use fees or long-term commitments.

The WOW COMMODITY PURCHASE PROGRAM is just one service within WOW Logistics’ integrated supply chain service offerings. We also offer solutions focused on warehouse operations, transportation brokerage, and real estate development.

Learn more about WOW Logistics by exploring our website.