Based on my own experience in small as well as large businesses, I have listed below the basic data that I believe is necessary to produce appropriate reports and where this data could be sourced from:
FREIGHT: By basing these three data items around the consignment note you easily get the cost of freight per sale dollar. The next level of reporting is to use the other data that is included with the consignment note, eg: sum into delivery location/zone, now you can also see which zone is costing the most compared to sales - the relationship is not just dependant on distance from source but also value of the order.
This can be done weekly or monthly with the resulting report indicating any overall delivery cost trends at a higher level, but at the detail (customer level) this can prompt requesting customers to change their ordering profile, eg: minimum value of order.
INVENTORY: This amount of data allows tracking of financial as well as customer servicing. Use sales revenue/total value to ascertain stock turn (You want to show higher stock turn rather than lower).
‘Lines on back-order' is an indicator of your true supply performance and highlights the offending products (and suppliers). If the total quantity of each is added, you can now compare this report to the previous to see trends in supply. This report should be done no less than weekly and will be a snap shot as "backorders" in most systems is a dynamic field (you cannot extract history).
Excess stock is any stock that has not sold for a specified period, the period will depend on a number of factors but the result is a report of products that you must move to reduce expenditure. Actions to mitigate excess stock (a brief all its own) is a critical ongoing function of the SOP process. As you get more proficient using this data - and spreadsheets - it will be easier to drill down to item level across all reports.
STAFFING: This data will help produce reports that indicate efficiency of work, when compared with sales and quantity of orders is indicates not only the effectiveness of the team but also how the ordering profile relative to input cost (similar to freight).
Combining and comparing the data from the different functions can also be used to gain further visibility to the business, for example using the number of lines going to backorder as a percentage of orders placed over the week. Also notice that I request transport suppliers to provide copies of their invoices in Excel format, this can save an untold amount of work and can also be used as an audit trail if there are discrepancies in rates. Hard copies can still be provided to accounts payable for processing if required.
VoIP makes a lot of sense for educational institutions—and it’s not just because of the substantial cost savings. Other benefits include increased efficiency and integration options. Emergency responsiveness can even be improved. more
The telemedicine revolution is finally happening. Experts have been discussing the potential for patients and healthcare providers to connect remotely for years, but the market is just now moving to adopt it—in a big way. Data suggests this market will grow over 14% annually through 2020! more
If improving customer experience is important to you (it should be), then 2017 may be a good year to reevaluate the software you use for your contact center. With customer preferences shifting, the importance of an efficient contact center has never been higher. You cannot afford to simply focus on keeping costs low. Significant competitive advantages are available to businesses who manage this area effectively. more
The status of technology within an organization is rapidly evolving—and so is the role of the CIO. With breakthrough capabilities enabled by new technologies, a growing shortage of available developers, and an increasingly tech-savvy business user, the role of IT—and the CIO in particular—is morphing into one of strategic advisor to the business and driver of innovation within the company. more