Analyze Sales volume, Sales revenue, Average vendor order value, Inventory turnover, Vendor Supply analysis, Order accuracy to measure the business performance
Data Analytics, Dashboard Designing & Development
Figma, Power BI
By performing FMCG analytics, we helped the client gain a better understanding of their customers and markets, inventory, which can lead to increased sales and profitability. This customer is one of the biggest players in food product manufacturing in India. The client captures business data from the Sales team, Vendors, Manufacturing units, and Supply chain department and wanted to implement analytics to ensure the business operations are working efficiently and meet the needs of the business.
Without Sales analytics, the customer was facing several challenges, including:
The client wanted to gain visibility into business operations, and manufacturing processes to make data-driven decisions, and ultimately improve the overall quality of business operations backed by data analytics.
The main objective of the project was to use data and analytics to gain visibility into all the business operations, team & machine performance, measure the value of analytics services, and make data-driven decisions to improve the overall quality of the operations.
Some specific objectives of an FMCG analytics project include
Techknomatic’s team used Power BI to connect to multiple data sources and prepared a list of extensive 20 dashboards for monitoring the business KPIs.
The areas covered in the delivered solution were as follows:
This KPI measures the number of times inventory is sold and replaced over a given period of time. A high inventory turnover rate indicates that inventory is being efficiently managed and that there is strong demand for the products.
This KPI measures the percentage of customer orders that are filled on time and in full. A high fill rate indicates that the supply chain is able to meet customer demand and that there are no bottlenecks in the distribution process.
This KPI measures the percentage of orders that are delivered on or before the promised delivery date. A high on-time delivery rate indicates that the supply chain is able to meet delivery commitments and that there are no delays in the distribution process.
This KPI measures the percentage of orders that are fulfilled with the correct products and quantities. A high order accuracy rate indicates that the supply chain is able to accurately fulfill customer orders and that there are no errors in the fulfillment process.
This KPI measures the time it takes to fulfill an order from the time it is placed. A shorter lead time indicates that the supply chain is able to quickly fulfil orders and that there are no delays in the production or distribution process.
Techknomatic’s solution resulted in amazing benefits as follows:
Improved customer targeting
Data analytics can help FMCG companies understand customer demographics, purchasing habits, and preferences, allowing them to target their marketing efforts more effectively.
By analysing data on things like inventory levels, production capacity, and distribution channels, FMCG companies can optimize their operations and reduce waste.
Data analytics can provide insights that can help FMCG companies make more informed decisions about things like product development, pricing, and distribution.
Enhanced customer experience
By analysing customer data, FMCG companies can personalize their marketing efforts and tailor their products or services to meet the needs of specific customer segments.