Foot traffic and location analytics help wholesale distributors maximize profits, allowing them to reveal where operational inefficiencies are and then implement solutions in problem areas.
With advanced location intelligence analytics, point-of-interest characterization, and supply chain-centric foot traffic analytics, distributors can now truly understand their channels on a line-by-line basis, which can lead to better decisions and ultimately higher profits.
Following is an explanation of the benefits that advanced analytics can bring to wholesale distribution organizations:
High-performing distributors can streamline their operations by helping to assess:
- The performance of suppliers and buyers
- Logistics performance
- Other key performance metrics at the operational level.
- Product and customer performance
Advanced analytics can be employed in these areas to help wholesale distributors measure:
- Sales and refunds
- Category and product performance
- Returns and product quality
It enables strategies where a distributor can reduce the cost of serving a customer.
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Identifies which accounts are profitable and which accounts are a drain on the bottom line.
Through the use of location intelligence, you gain invaluable insight into consumer behavior, allowing you to stay ahead of market trends and ensure that supply and demand can always be met.
In terms of logistics, it is also possible to measure which areas have the highest demand for a given product, which means that marketing strategies can be adjusted, keeping up with the demands of current clientele and attracting new customers.
It allows you to quickly analyze stock rotation, inventory-to-purchase ratio, or slow-moving stock to identify overstocking or understocking, and thereby avoid the cost of a product becoming dead stock.
Also read, “Can data science mitigate the supply chain crisis impact?“
Closely manage activities, detecting and anticipating any potential challenges before they become a problem, by quickly adjusting stock levels of those products. And with mobile access, allowing monitoring can be done from anywhere.
At PREDIK Data-Driven we help our customers achieve higher profit margins quickly and easily by implementing tools that track repeat and defective returns, proactively reduce and identify operational and security threats, improve reliability and service uptime, automate compliance controls, among many more.