BI: Making the Fast Even Faster
Tasked with keeping track of a wealth of high-turnover products while working to get ahead in a competitive industry, fast-moving consumer goods (FMCG) businesses have more to gain from business intelligence (BI) than most. At Smetric Insights we make this tech more accessible, affordable and effective than ever before.
What is FMCG Business Intelligence?
FMCG businesses now have access to an incredible amount of data, generated throughout supply chain and sales processes. Business intelligence (BI) tools gather together all relevant data to paint a complete and current picture of your business, and use historical data to predict challenges and opportunities that might lie ahead.
While BI tools are valuable to every business, the fast-paced and high quantity nature of the FMCG industry makes this technology particularly valuable. By crunching endless data and presenting it in a visual, easy to understand way, BI can cut through the noise, finding patterns and trends that lead to the generation of the most valuable insights: the type that will get your organisation ahead.
How FMCG Business Intelligence Works
The economics of FMCG are becoming increasingly complex. On top of running complicated day-to-day operations, a business is tasked with navigating market instability, shifting consumer wants and needs, shrinking profit margins and ever-changing rules and regulations. It’s little wonder that many SMEs find themselves in a battle to survive, rather than thrive. But there is a solution.
When properly integrated and implemented, a business intelligence tool is capable of analysing trends and patterns at an organisational scale, while also giving you the opportunity to take a deep dive into the details. These macro and micro patterns grant you a better understanding of your business: its challenges, its risks and its opportunities.
Rather than attempting to make sense of data via infinite, manual and confusing Excel spreadsheets, a Smetric Insights business intelligence solution serves up these trends via simple and intuitive dashboards. When BI is implemented well, BI insights organically present themselves, powering innovation and better decision-making.
You will be able to see at a glance:
- Stock by product and brand
- Currently on hand by Location Units and Value
- Currently incoming by Product Units and Value
- Current committed orders to be despatched by Product Units, Value and Customer
- Annual Sales Units, Value and Margin
- Average monthly weekly and daily Sales Value and Unit
- Stock Turn
- Days Cover
Here is an interactive sample dashboard. Play around in it on the different pages and different filters to get a taste of what is possible.
5 Benefits of FMCG Business Intelligence
Use BI-powered geo-analytics to better understand your delivery networks and streamline the processes within. BI insights can reduce delivery lag and improve accuracy, ensuring fast-moving products get to where they need to be, when they need to be there.
One of the biggest challenges within FMCG, particularly in terms of perishables like food, drinks and household goods, is warehouse management. By keeping track of the endless products that travel through your warehouse, BI can help to ensure that goods aren’t left on the shelf too long. By analysing operations in real-time, you can track inventory, demand, deliveries and more.
Enhance the supply chain
A consistent and reliable supply of stock is critical within FMCG. BI can ensure that products are always in stock, that your supply continually meets customer demand, and that processes are optimised from the start of the supply chain through to the moment a purchase is made.
Personalise the customer journey
By serving up insights on sales trends and purchasing behaviour, BI allows FMCG companies to customise the journey that each customer makes. Marketing, promotions, sales, loyalty programs; the data will offer insights on exactly what your customers want every step of the way.
Offer the right products
Use FMCG business intelligence to understand the changing needs, wants and whims of your customers. See the types of products that they are increasingly buying, and use these insights to shape your product range into the future, securing, creating and offering more of what your customers want.
The Smetric Advantage
The importance of FMCG business intelligence is becoming clearer by the day, though the greatest returns will be realised by those who get in first. If you’re ready to make the most of your data, Smetric is ready to help.
- We bring equally deep experience in both technology and the FMCG industry.
- We take the time to get to know your business and the data that matters most to you.
- We use leading tools and technologies and can create bespoke BI solutions that meet your unique needs.
- We generate insights and opportunities from the data you already have.
- We’re affordable, ensuring you realise a return on your investment sooner.
- We deliver measurable value in weeks, not months.
- We only work in the specific areas we bring deep subject matter expertise in, such as FMCG.
The first step into the world of FMCG business intelligence is the hardest to take, so we aim to make it as comfortable as possible. If you provide us with a sample of your business data, we’ll show you how we can help, no charge, no obligation.
If you like what you see, we’ll conduct a scoping exercise, laying out our entire process and its likely results. From there it’s a simple matter of pushing the ‘go’ button, at which point we’ll fine tune the plan and get started.
Ready to Get Connected?
If you’re an FMCG business, it’s likely that endless insights and opportunities are currently held within your data. If you’re ready to release them, we’re ready to help.