Order and Inventory Management KPIs (Key Performance Indicators) should be a vital part of your systems and operations. They can really help to highlight areas of your business where there are problems and opportunities for improvement.
We’d recommend around 20-25 KPIs, which together cover all aspects of your business, from customer acquisition and retention, right through the Inventory management and purchasing.
Illuminate Business Intelligence (BI) provides an easy way to set-up and monitor your KPIs. We provide many common KPIs ‘out of the box’, so you can get up and running very quickly. You can also define your own KPIs, and explore the underlying data to further understand the root cause of any problems which are highlighted.
A full drill-down capability is provided.
The main areas for KPis are :
KPIs such as total sales broken down by category, sales channel, margin, profitability and customer conversion rates are all available.
Areas such as campaign effectiveness, sales per campaign, marketing cost per sale etc. can all be monitored.
Inventory Management, Operations and Purchasing
These KPIs cover areas such as overstocking, understocking, supplier delivery times, shipments per day, pick and pack rate and so on.
Customer services is an oft-neglected, but essential area of any online business. Illuminate’s KPIs help you to understand your customers better through visibility of customer queries, complaints, returns, chargebacks, refunds, exchanges and e-mails
You can also set up goals within Illuminate’s KPIs. For example, you might wish to set a target of increasing sales by 10% in six months, reducing customer complaints by 20% within a year, or reducing late deliveries by suppliers by 50% within a year. All of these can be set up and easily monitored. KPIs can even be shared with other team members, if required, to give a wider company audience a sense of inclusion in the business’s success.
If you’d like more information on our KPIs and how they can help your business, please contact us today to set up a free consultation.
Date : 12th May 2017