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Reporting vs. Business Intelligence

By October 1, 2018December 12th, 2018No Comments

It is truly amazing how many clients we speak with who do not have access to detailed reporting from their sampling programs or product shipments. Typically, they have general ideas on how many items they send out but rarely understand the programs enough to make meaningful changes to their product lines or business.

Even worse, customers frequently make bad decisions by relying on inaccurate or outdated reports. Rather than updating what they know, they continue using old data to plan inventory and justify product introductions.

Reports are great, don’t get me wrong. However, reports that don’t provide meaningful data and actionable information are a waste of time. All too often, our success comes down to how we spend our time (or the lack of it).
Most every company has some level of reporting. All have financial reporting and most have reports that can provide sales by product, region, gross margin, total inventory, inventory by item…etc, etc. But what are they doing with it? Usually not much. Far too often we rely on “tribal knowledge” of what is happening or the most influential voice in the room when analyzing what is happening with our product lines.

Having live access to data generated by product & sample shipment is critical to business success. Shipments are invaluable data points that make or break fulfilment programs. Sample shipments are the most qualified lead any company can dream of. Product shipments and lack of shipments show us key details of market coverage. Inventory turn information helps us understand which product lines are successful and where we have opportunities to lower inventory costs. Equally as important, shipment data helps us understand how to make meaningful changes to our product line to increase sales. Do you have all of this valuable data? What are you doing with it?

To find out how SI Fulfillment’s business intelligence can help ensure the future success of your business, please contact us today!