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Food & Beverage Business Intelligence Productivity Advantage

Food and beverage is a fast-paced business, and staying competitive is paramount. Improving efficiencies is crucial to remaining relevant, and one of the most effective ways to do this is through data and analytics.

Using business intelligence to analyse your data is a smart and cost-effective way of unearthing patterns and insights to improve your business.

Companies without business intelligence still rely on spreadsheets and IT departments to try and run data reports for operations teams. By the time a report hits their desk, however, the information is outdated and fails to add value. Business decisions are thus made using guesswork and hunches, and opportunities are lost.

How can business intelligence help you improve productivity?

Supply chain: Implementing an effective business intelligence solution can significantly streamline your supply chain management. Gaining valuable, and real-time insights into past sales figures can greatly increase your accuracy in forecasting future targets.

Business intelligence allows you to analyze current and historical data to identify trends in sales and demand, and use the information to more accurately inform inventory estimates. And because a good business intelligence solution works in real-time, you can receive up-to-the-minute reports on sales and/or target delivery times, and track progress on a daily basis.

Sales productivity: One of the most effective ways to increase productivity is by monitoring the efficiency of your sales team. Business intelligence can show you your most effective and profitable salespeople, and those whom may need additional training and/or support. You can also gain insights into the best performing sales teams per location, and identify which region/s may require adjustments to staffing and/or training.

You can easily generate product and sales reports without the need for IT specialists or spreadsheet wizards, and its ease of use means your company can significantly step up performance by letting sales people bring up and use their own stats in real-time.

Stock forecasting: Carrying too much stock can be just as harmful to your business’ profit margin as carrying too little. Understanding stock management is critical to your business’ success, and traditionally trying to make sense of it required a series of complex calculations. With an effective business intelligence solution, you can now easily track inventory, sales, and orders for improved purchasing and warehouse management.

You’re able to monitor stock on hand, overstock, understock, and deadstock in real-time, allowing you to maintain the optimal level of stock at the most convenient locations.

Business intelligence enables you to maintain appropriate stock levels, so your customers get their products on time, and you boost efficiencies and reduce costs.

Business intelligence is critical to ensuring competiveness and productivity

A smart business intelligence solution truly is your greatest asset and can significantly boost forecasting, operations and performance efficiencies with your food and beverage business. Enable anyone in the company to analyze customer, supplier, and dealer behaviour, and quickly spot issues.

The right business intelligence solution will increase sales and profit margins, improve customer service, and ensure no opportunity is lost again.

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Topics: Business Intelligence