Wholesale distributors have access to more data than almost any other business. As retailers demand more responsiveness and manufacturers look for ongoing efficiencies, it's time that these businesses leverage the data. With big players' dominance, distributor analytics software helps to analyze and optimize data specific to the wholesale industry and address challenges the new marketplace presents.
Read moreTopics: Industry - Wholesale Distribution, data analytics, Inventory Management
Wholesale distributors have access to more data than almost any other business. As retailers demand more responsiveness and manufacturers look for ongoing efficiencies, it's time that these businesses leverage the data. With big players' dominance, distributor analytics software helps to analyze and optimize data specific to the wholesale industry and address challenges the new marketplace presents.
Read moreTopics: Industry - Wholesale Distribution, data analytics, Inventory Management
CQR Security Limited is a British manufacturer, making equipment for the security intruder market such as cable and door contacts. Initially, the company deployed business intelligence to analyze its sales and get a better understanding of its top-performing products. The use of data has expanded dramatically for CQR, and it now takes a data-driven approach to production performance management, inventory management and component purchasing decisions — to find more ways to drive efficiencies.
Read moreTopics: Case Study, Industry - Manufacturing, Job Role - Sales, Job Role - IT, Job Role - Executive, ERP - Microsoft Dynamics NAV, Job Role - Inventory/Operations, Inventory Management
In the southern hemisphere, pool season is just around the corner. The POPS Group is an Australian manufacturer, wholesaler and distributor of PoolPro branded chemicals and products. Managing Director, Sean Ralph reminisces about the days when he used spreadsheets to manage its 1800 product SKUs which was 'very time consuming'. Phocas data analytics helps the seasonal business see the data in real-time so inventory management is efficient and POPS has enough stock to satisfy demand in hot weather.
Read moreTopics: Case Study, Job Role - Sales, ERP - MYOB EXO, Job Role - Executive, Job Role - Inventory/Operations, Industry - Janitorial, Inventory Management
The global healthcare supply chain is complex. Decentralisation of care, third party services and centralised purchasing models make supply chain management harder. With a surge in demand for PPE and other medical products during the pandemic - medical device and equipment suppliers are looking for new ways to drive efficiencies with data and better manage inventory.
Read moreTopics: Business Intelligence Basics, Industry - Health and Medical, data analytics, Inventory Management
There are so many business intelligence tools on the market, all promising a competitive edge for your business. A good start is ensuring the software is compatible with your ERP and the tool has built-in content relevant for your industry. Most business people need access to data quickly so being able to rely on industry specific dashboards and metrics makes adoption across the business more accessible. To ensure your investment in business intelligence is future proof, we also have a 4 point checklist to consider.
Read moreTopics: Business Intelligence Basics, Job Role - IT, business intelligence dashboards, data visualizations, Inventory Management, KPIs and metrics
When it comes to achieving success in manufacturing, the industry is way beyond the idea that data matters. Manufacturers and the decision-makers that run them understand the value of data and are turning to BI strategies and manufacturing KPIs in times of uncertainty. Leaders want to know how decisions on production runs, purchasing and the supply chain impact their financial KPIs faster than traditional reporting allows so they are looking to BI to provide this insight.
Read moreTopics: Industry - Manufacturing, Job Role - Finance, Job Role - Executive, Dynamic reporting, business intelligence dashboards, Inventory Management, KPIs and metrics
Inventory days formula is equivalent to the average number of days each item or SKU (stock keeping unit) is in the warehouse. Inventory days is an important inventory metric that measures how long a product is in storage before being sold. If the percentage is high, there may not be enough demand for it, the product might be too expensive or it's time to rethink how it's being promoted.
Read moreTopics: Business Intelligence Basics, Industry - Wholesale Distribution, Industry - Retail, Job Role - Inventory/Operations, Inventory Management, KPIs and metrics
Lean warehouse management is key to the success of businesses that make, move or sell products. Conversely, poor inventory control results in overstock problems including theft, expiration, obsolescence, and diminished returns. Overstock means having too much stock in a warehouse that has not sold which increases storage costs and reduces working capital. To improve the management of your business and keep stock under control, it is worthwhile to manage inventory all in one system, creating a single source of truth for inventory management.
Topics: Business Intelligence Basics, Industry - Wholesale Distribution, Job Role - Inventory/Operations, Inventory Management
With constant streams of data being collected by companies daily, planning for the future is no longer as mysterious as it once was. But it is not a matter of having data that makes forecasting easier; instead, it depends on how the many layers of data are collated and analyzed. When it comes to managing inventory with a software solution, it is critical to establish inventory metrics that drive success for the present and future — making projected inventory level a crucial area to monitor.
Read moreTopics: Business Intelligence Basics, Industry - Wholesale Distribution, Job Role - Inventory/Operations, Inventory Management, KPIs and metrics
A CFO in a wholesaling business recently described dead stock as piles of cash in the corner of a warehouse that she can’t access. Dead stock are products that don’t sell and remain in the warehouse or are sent back to the warehouse from the retailer. Dead stock reduces cash flow that could be used to purchase new revenue-generating stock. It also takes up precious space that profitable products could occupy. Inventory management software strengths the success of reducing deadstock.
Read moreTopics: Industry - Wholesale Distribution, Job Role - Inventory/Operations, cross-selling, Inventory Management, KPIs and metrics
