Upstock streamlines wholesale orders for FMCG brands

For many suppliers within the fast-moving consumer goods (FMCG) sector, the process of handling wholesale orders has historically been cumbersome. Communication often occurs through late-night voicemails, emails that may be misplaced in spam folders, informal text messages, spreadsheets, and even handwritten notes. This disorganized method can result in lost sales and erroneous orders, which in turn leads to considerable time wastage and financially detrimental administrative burdens that affect overall productivity and profitability.

In response to these challenges, Upstock, a new software platform and application, has emerged to significantly enhance B2B marketing, sales, ordering, payments, and logistics for FMCG brands. According to Philip Fierlinger, co-founder of Upstock, the platform has delivered results such as reduced costs due to expedited order processing and fulfilment, increased sales as customers expand their orders across available products, and improved reliability and accuracy leading to fewer errors and decreased waste.

“Major multinational FMCG brands spend hundreds of millions of dollars on complex software to automate their sales and logistics – Upstock can give FMCG brands of any size access to automated sales and logistics that do not require any staff training – and costs less than $1 per order,” Fierlinger noted. His credentials in the realm of business software are notable, as he previously co-founded the globally recognised accounting software provider, Xero.

The inspiration for Upstock originated from a personal connection. One of Fierlinger’s friends, who owns Foxton Fizz, a brand in New Zealand’s FMCG landscape, introduced him to the inefficiencies that plague the industry, where orders are often managed manually. This experience led him to predict an inevitable shift towards digital solutions within the sector, as the traditional methods not only consume time but also strain the already thin profit margins that define many FMCG businesses.

Upstock has experienced rapid growth, establishing itself as New Zealand’s largest FMCG marketplace and expanding quickly into Australia. The software is designed to integrate seamlessly with the enterprise resource planning (ERP) systems utilised by major retail chains for procurement, offering direct connections for automatic management of complex supermarket orders, including those for Woolworths and Foodstuffs.

Employing artificial intelligence (AI), Upstock enables users to convert any type of order input—whether it be an email, complex purchase order file, or even a handwritten note—into a digital order. This innovative technology reduces the time and effort associated with processing orders by up to 80%, and improves the order fulfilment speed by the same percentage. “The error rate drops from as high as 30 per cent when manually keying orders into a system to nearly 0 per cent in Upstock,” Fierlinger explained.

The platform is also highly user-friendly for retail staff. Independent supermarkets have begun utilising Upstock not only to manage orders from suppliers but also to streamline their own inventory processes. Staff can now use the app on their phones to select products for order, eliminating the need for traditional inventory management methods involving pen and paper and the subsequent data entry required.

Beyond automating order management, Upstock simplifies the entire process of generating invoices, packing slips, and shipping instructions, alongside necessary courier documents—performing these tasks with a single click. Brands can set up their product catalogues on the platform within a day, and even those with more complex offerings typically complete the integration process within a week.

The AI aspect of Upstock extends its capabilities further, automating the categorisation of supplier catalogues, which was previously a laborious manual task. As Fierlinger noted, “We have made it possible to read emails, PDF files, and purchase orders and convert those into a digital order in Upstock without somebody having to key in any information.”

The platform has garnered positive experiences from numerous businesses. Mark Davey, CEO of Waitoa Beer, remarked that Upstock has streamlined their purchasing processes significantly, stating that “with Upstock, purchase orders flow into our regular daily order list” and that it has essentially eliminated room for errors. Additionally, James Mobbs from Waitoa stated that the software has elevated their company’s standing with supermarkets, affirming their reputation as a reputable supplier.

Similarly, the proprietors of This is Frankies, a bakery and milk bar located in West Albury, NSW, noted that Upstock has facilitated “massive growth opportunities” with new wholesale customers.

Various other types of FMCG brands, such as Pearl Seafoods and Ritual Coffee, are also leveraging Upstock for improved ordering and distribution efficiencies. The platform now boasts a diverse customer base across Australia, supporting a wide range of retail entities, from independent grocers to larger supermarket chains, as they navigate the evolving landscape of the FMCG industry.

As companies increasingly adopt technologies like Upstock, they are positioned to enhance their operational efficiency, improve margin performance, and streamline distribution at a crucial time for the industry.

Source: Noah Wire Services