How is it possible to take charge of sales and also grow your business by outperforming the competition? One essential factor is to optimize order management.
There are 3 main points that can help companies inject efficiency into their logistics. The 3 key aspects of order management: sales, returns and procurement.
How to do it with Zoho Analytics?
Lack of existence has always been a reason for companies to underperform. Therefore, it is necessary to monitor inventory closely to ensure optimal stock levels and meet revenue targets. One of the strategies necessary to optimize inventory is ABC analysis.
With Zoho Analytics it is possible to make an actionable report. It allows you to analyze inventory by sales volume and sales value.
The report takes into account sales volume, the industry in which you operate, seasonality and other factors, to classify inventory as A, B and C. Category A is fast moving, B is constant moving and C is slow moving.
By doing this and digging deeper into inventory data, companies are more likely to be well prepared for the future. The area will know the products that need to be purchased, stocked and shipped to maximize revenue.
One of the key KPIs is sales. By analyzing sales by multiple dimensions and adding a layer of granularity to them, marketers can even better target their downstream sales efforts.
How can they be analyzed?
- YTD analysis to assess current business performance.
- Historically by region to understand the best performing markets.
- With a sales forecast to align area efforts proactively. Determining what future sales figures will look like to plan commercial activities such as investments, marketing expenses and acquisitions.
Zoho Analytics enables reporting and in conjunction with ZIA (Artificial Intelligence Assistant) can provide real-time search and forecast results.
Returns management is crucial in supply chain management. Therefore, the more comprehensive the returns analysis, the better the handling and the lower the losses associated with returns.Zoho Analytics, being an advanced BI platform, has an integrated formula engine. In this way it is possible to measure losses and implement actions to optimize them. Based on the categorization as recoverable (or receivable) and non-recoverable (or credit only), returns are analyzed based on the quantity and value of returns, making it easier to identify the most returned products by value and volume.
A company that needs to improve online order management by performing advanced analytics can add a useful layer of information to its inventory data. This will lead to transform simple business data into actionable decision making insights to grow your business.
By implementing Zoho Analytics with Etixen’s technical team, it is possible to achieve reporting at the required level very easily.