When manufacturers and distributors seek to grow their business or stay ahead of the competition, they often focus on the details of efficient
A key aspect of customer satisfaction is being able to provide products on time by
We’ve provided a few ways dashboards can help and encourage you to read our eBook,
Dashboards can allow your organization to:
1. Keep an eye on inventory KPIs
Dashboards make it easy to view Key Performance Indicators in real-time. KPIs help by quantifying and monitoring service-level targets, and then comparing those against actual performance. Although each business has different needs, common KPIs include inventory turnover, holding costs, rate of return, lead time, and perfect order rate.
These indicators should be focused on weak links in your supply chain, so you keep everything flowing smoothly. In addition to avoiding stock-outs and earning customers’ trust, this can also help everyone in your organization understand what their goals are and where to focus their energies.
2. Understand inventory performance and trends
In addition to showing the specific snapshots provided by KPIs, dashboards make it easy to analyze inventory performance on a broader level.
- Monitor your inventory items to make sure stock levels are optimized
- Reveal slowing or accelerating demand for particular items
- Provide early warning for expiration dates so you can plan promotions
Longer-term inventory trends are another type of information that can easily be tracked using dashboards. By tracking KPIs and inventory performance using visual timelines, you can gain critical insights about your overall inventory management.
Timelines of trends can help you track new items to assess their performance, understand how promotions are impacting sales and margins, and make sure stock levels are within safety parameters. All of this helps ensure better inventory management, creating the sort of reliability that customers are looking for.
3. Use alerts to make sure things happen
Dashboards can be augmented with built-in alerts so you take action at the right time. Too much info and distractions can make the most conscientious planner miss something important.
Rules-based alerts bring attention to inventory stocking levels or events outside defined parameters, so your team members throughout the supply chain can be proactive and everyone can avoid the sort of surprises that create stock-outs. Set up low
Dashboards can help manufacturers and distributors improve customer satisfaction. They can also have many other positive effects. If you’re interested in learning more about dashboards and how they can help your organization, check out StockIQ's eBook and