{"id":19027,"date":"2023-04-12T10:29:52","date_gmt":"2023-04-12T08:29:52","guid":{"rendered":"https:\/\/www.digdash.com\/?p=19027"},"modified":"2023-04-25T14:34:40","modified_gmt":"2023-04-25T12:34:40","slug":"how-can-you-optimise-your-retail-kpis-and-your-supply-chain-with-business-intelligence","status":"publish","type":"post","link":"https:\/\/www.digdash.com\/en\/news-articles\/tips-and-tricks\/how-can-you-optimise-your-retail-kpis-and-your-supply-chain-with-business-intelligence\/","title":{"rendered":"How can you optimise your retail KPIs and your supply chain with Business Intelligence?"},"content":{"rendered":"<p>In the era of digital retail, data has become a major challenge for the sector&#8217;s players. But how can its full potential be exploited? <a href=\"https:\/\/www.digdash.com\/en\/news-articles-en\/business-intelligence-bi\/business-intelligence-retail\/\">Thanks to Business Intelligence<\/a>, retail outlets can now effectively manage their business while optimising their supply chain.<\/p>\n<h2><b>Effective management of retail KPIs<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">To make better decisions and improve business practices at the point of sale, it is essential to understand customer behaviour and habits.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hence, the need to rely on relevant <\/span><b>KPIs (Key Performance Indicators) <\/b><span style=\"font-weight: 400;\">adapted to the retail sector, for example:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Shop traffic<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The number of transactions<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The conversion rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Turnover per square metre<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The average basket<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Business Intelligence enables the aggregation of <\/span><b>a multitude of data from multiple sources<\/b><span style=\"font-weight: 400;\">, then the real-time retrieval of the most relevant information to measure the performance of a shop or a distribution network. By monitoring its <\/span><b>sales KPIs<\/b><span style=\"font-weight: 400;\">, the company can therefore progress towards its objectives, evaluate its success and identify areas for improvement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The result is that the outlets manage the resources deployed in an optimal way. This results in better planning and the implementation of appropriate merchandising and animation actions.<\/span><\/p>\n<div style=\"background-color: #fac3a1; border-radius: 9px; border: 2px solid #EE7326; padding: 5px;\"><span style=\"font-weight: 400;\"><b>Learn more <\/b><\/span><span style=\"font-weight: 400;\">: <a href=\"https:\/\/www.digdash.com\/en\/uncategorized\/retail-kpis-pilot-your-points-of-sale-in-real-time-with-business-intelligence\/\">Retail KPI: manage your points of sale in real time with Business Intelligence<\/a><\/span><\/div>\n<h3><\/h3>\n<h2><b>Setting up a retail dashboard<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Another strong point of Business Intelligence is its ability to <\/span><b>represent data and sales KPIs in an intuitive way<\/b><span style=\"font-weight: 400;\">. Indeed, it allows raw information to be transformed into graphs, curves, diagrams, maps and other diagrams, thanks to <\/span><b>data visualisation<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gathered in a <\/span><b>decision dashboard<\/b><span style=\"font-weight: 400;\">, the data can be interpreted much more easily. Major trends and issues are highlighted, allowing for informed decision-making.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In short, a BI solution is essential for centralising large volumes of scattered data, but also for making the best use of them, thanks to understandable and entertaining visual representations.<\/span><\/p>\n<div style=\"background-color: #fac3a1; border-radius: 9px; border: 2px solid #EE7326; padding: 5px;\"><span style=\"font-weight: 400;\"><b>Learn more <\/b><\/span><span style=\"font-weight: 400;\">: <a href=\"https:\/\/www.digdash.com\/en\/news-articles-en\/business-prospects\/how-to-build-an-analytical-dashboard-for-retail-activities\/\">How do you build a business intelligence dashboard for retail?<\/a><\/span><\/div>\n<h3><\/h3>\n<h2><b>BI for the supply chain<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">A company collects a multitude of data <\/span><b>at every stage of the supply chain<\/b><span style=\"font-weight: 400;\">. It concerns products, customers, suppliers, warehouses, shops, and vehicle fleets.<\/span><\/p>\n<p><b>A business intelligence tool <\/b><span style=\"font-weight: 400;\">not only centralises the data, but also allows it to be updated continuously. Stored on site or in the cloud, the data also benefits from optimal security and confidentiality.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, to optimise the supply chain, it is necessary to measure its efficiency on an ongoing basis using <\/span><b>key performance indicators<\/b><span style=\"font-weight: 400;\">. With a BI solution, the company has the possibility to monitor all its KPIs in real time:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Service rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Order preparation rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Availability rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Breakdown rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Etc.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Finally, <\/span><b>Big Data <\/b><span style=\"font-weight: 400;\">can identify any breakdown or anomaly in the supply chain, all in record time. By taking advantage of new technologies, it is even possible to anticipate and correct problems before they occur: this is what is known as <\/span><b>predictive maintenance<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<div style=\"background-color: #fac3a1; border-radius: 9px; border: 2px solid #EE7326; padding: 5px;\"><span style=\"font-weight: 400;\"><b>Learn more <\/b><\/span><span style=\"font-weight: 400;\">: <a href=\"https:\/\/www.digdash.com\/en\/uncategorized\/the-importance-of-business-intelligence-for-supply-chain-optimisation\/\">The importance of Business Intelligence for supply chain optimisation<\/a><\/span><\/div>\n<h3><\/h3>\n<h2><b>Digitalisation of the supply chain<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The digital transformation of the supply chain is based on 3 main levers:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The Internet of Things (IoT)<\/b><span style=\"font-weight: 400;\">: very useful for collecting and analysing data, it is used in particular to anticipate the availability of human and material resources, supplies of raw materials or maintenance needs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Artificial intelligence<\/b><span style=\"font-weight: 400;\">: capable of predicting future activities based on existing data, it allows for improved decision-making and predictive maintenance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Predictive analytics<\/b><span style=\"font-weight: 400;\">: this involves predicting the future by studying historical and current data. This can be used to optimise stock management and transport networks, while improving the customer experience.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In this context, Business Intelligence is a real asset to <\/span><b>support the digitalisation of the supply chain<\/b><span style=\"font-weight: 400;\">. Indeed, it shines through its ability to collect and process large volumes of data in various fields: transport, purchasing, stocks, maintenance, etc.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company can therefore improve It&#8217;s end-to-end supply chain by exploiting the full potential of artificial intelligence, the Internet of Things and predictive analysis.<\/span><\/p>\n<div style=\"background-color: #fac3a1; border-radius: 9px; border: 2px solid #EE7326; padding: 5px;\"><span style=\"font-weight: 400;\"><b>Learn more <\/b><\/span><span style=\"font-weight: 400;\">: <a href=\"https:\/\/www.digdash.com\/en\/uncategorized\/how-to-succeed-in-the-digital-transformation-of-the-supply-chain\/\">How to achieve the digital transformation of the supply chain?<\/a><\/span><\/div>\n<h3><\/h3>\n<h2><b>A powerful alternative for inventory management<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Good stock and supply management requires appropriate software. However, spreadsheets such as Excel have many limitations today:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lack of connectivity with business solutions and other company tools<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Manual data entry, which is the cause of many errors<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Limited security<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lack of automatic data updating<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The inability to automate supply chain management tasks<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A business intelligence solution solves these problems, while taking stock and supply management a step further. It is able to <\/span><b>synchronise a multitude of information in real time<\/b><span style=\"font-weight: 400;\">, whether it is related to shops, warehouses, purchases, stocks, raw materials or transport.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Centralised in a data warehouse, this valuable data is processed and analysed to anticipate shortages of raw materials, avoid stock-outs and anticipate orders to be placed with suppliers. BI also enables better control of logistics, storage, and warehousing costs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the end, it is a real <\/span><b>lever for growth and development <\/b><span style=\"font-weight: 400;\">for the company, which can thus reduce its loss of turnover, while ensuring the satisfaction of its customers.<\/span><\/p>\n<div style=\"background-color: #fac3a1; border-radius: 9px; border: 2px solid #EE7326; padding: 5px;\"><span style=\"font-weight: 400;\"><b>Learn more <\/b><\/span><span style=\"font-weight: 400;\">: <a href=\"https:\/\/www.digdash.com\/en\/uncategorized\/alternative-to-excel-for-stock-and-supply-management\/\">What is the alternative to Excel for inventory and supply management?<\/a><\/span><\/div>\n<h3><\/h3>\n<p><b><i>From monitoring KPIs in a retail dashboard to optimising the supply chain, Business Intelligence offers numerous possibilities for retail outlets to manage their performance, improve their logistics flows and, ultimately, offer an optimal customer experience.<\/i><\/b><\/p>\n<p><a href=\"https:\/\/content.digdash.com\/en-contact-us\"><img fetchpriority=\"high\" decoding=\"async\" class=\" wp-image-19317 aligncenter\" src=\"https:\/\/www.digdash.com\/wp-content\/uploads\/2023\/04\/cta-telecharger-9-300x100.png\" alt=\"\" width=\"597\" height=\"199\" srcset=\"https:\/\/www.digdash.com\/wp-content\/uploads\/2023\/04\/cta-telecharger-9-300x100.png 300w, https:\/\/www.digdash.com\/wp-content\/uploads\/2023\/04\/cta-telecharger-9.png 600w\" sizes=\"(max-width: 597px) 100vw, 597px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the era of digital retail, data has become a major challenge for the sector&#8217;s players. But how can its full potential be exploited? Thanks to Business Intelligence, retail outlets can now effectively manage their business while optimising their supply chain. Effective management of retail KPIs To make better decisions and improve business practices at &#8230; <a title=\"How can you optimise your retail KPIs and your supply chain with Business Intelligence?\" class=\"read-more\" href=\"https:\/\/www.digdash.com\/en\/news-articles\/tips-and-tricks\/how-can-you-optimise-your-retail-kpis-and-your-supply-chain-with-business-intelligence\/\" aria-label=\"Read more about How can you optimise your retail KPIs and your supply chain with Business Intelligence?\">Lire plus<\/a><\/p>\n","protected":false},"author":21,"featured_media":18181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[],"class_list":["post-19027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tips-and-tricks"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - 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