Analytics in Consumer Durables Industry
- 2. Consumer durables companies around the globe are going through a phase of digital transformation. With the application of analytics in consumer durables, companies are equipped to make: Smart Business Decisions Manage Supplier Effectiveness Improved Customer Segmentation & Targeting Streamline Financial Management & Reporting Workforce Optimization
- 3. Marketing & Sales Analytics: Companies can leverage customers data to model (predict) the consumer affinity for a particular segment of their offerings. Sales Analysis Sentiment Analysis Promotion Channel Analysis Visibility on Primary, Secondary & Tertiary sales
- 4. Efficient Inventory Management & Lean Supply Chain: Efficient inventory management is critical for any industry because of the storage or opportunity cost attached to it. With predictive analytics, a consumer goods provider can ascertain the demand by factoring in demand-supply economics. Demand Forecasting is also very crucial for the businesses and can be done through analysis for historical sales data. 01 02 03
- 5. With the help of analytics solutions, executive dashboards can be created, showcasing the metrics across the whole array of processes and departments. Financial analysis for P&L Management and Reporting It presents a true image on AR & AP by removing duplicity and identifies trends & bottlenecks through scenario-based planning. With a comprehensive financial report generated through a BI platform, decision-makers can get a multi-dimensional view of aggregated expense across categories.
- 6. Workforce Optimisation & Skill Development Using analysis throughout the company, top and bottom performers can be identified. This could be used to plan the organisations future spending on training and development of the workforce. Compensation analysis can be done based on the appraisals and performance of the employees.
- 7. Conclusion: An analytics system can pinpoint areas of concern like product defect ratio, demand & supply pull, and much more, allows stakeholders in making winning decisions. It helps in the efficient management of raw materials sourcing and quality, optimizing inventory, and understanding margins over costs. www.polestarllp.com
- 8. THANK YOU! Visit: www.polestarllp.com Email: rishabh.rai@polestarllp.com