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How To Five Efficiency Indicators For Your Company

Indicators: The market is increasingly demanding in terms of deadlines and quality. This you already know, of course. Have you asked yourself where you can improve within your company to climb at least one more step in service delivery excellence?

Be careful if you think there are no more steps to rise, as this must be a constant search for every company. This article proposes to present some points where most businesses need improvement. Let’s go, then?

1  –  Integrated Information

Ask your employee responsible for sales which were the five most sold products in the last 15 days or which products have been stranded for more than 60 days. If this answer reaches you in less than 5 minutes, it’s good to rethink your system for generating strategic information.

2 – Knowledge Of Your Business

If, for example, we follow the Pareto logic – of the 80×20 – where 20% (of the products or customers) represents 80% of your revenue and vice versa, would you know how to say by heart which of these products and customers represent your 20 %? This is an important question as it will direct your efforts to make your supply chain and service focused on results and profitability.

3 – Purchasing, Inventory, And Sales

This one is simple: Do you eventually suffer from a lack of products? A product is often the liability link between a customer and a company. When this customer arrives at the store and does not find his favorite product, it generates a somewhat costly frustration for the company, as a window has opened for him to relate to the competitor.

4 – Human Error

When was the last time your company had to pay for an employee error? Or rather, how often does this happen? This is one of the essential reflections in this article. To err is human, but it is not at all tolerable when it comes to relationships between companies and customers. The cost of a mistake for a company goes far beyond the defective product, the wrong direction given by an employee, or even an accident at work. It costs your brand reputation.

5 – Productivity

Are you sure your team is delivering the maximum for the company in terms of productivity? A superficial way to evaluate is by comparing the number of employees versus your competitor’s market share of the company. Of course, you will have to work as a spy or try to scale based on your observation and experience in the market.

And Now?

Let’s assume that the answers to these questions need to be more satisfactory to you. If err is human, my company is made up of humans and cannot err; how can this question be resolved? With two strategies: technology and training.

The technology will offer the following:

– Continuous diagnostics

– Speed ​​and accuracy in routine operations and deliveries

– Optimization of your team’s time

– Monitoring of all processes in an integrated and real-time manner

– Anticipation of errors

– Smooth supply chain and no out-of-stocks

– Among many other advantages

Training will provide your team with the following:

– Improved performance of tasks

– Awareness of the importance of excellence in what you do

– Motivation to reinvent themselves

– Team Appreciation

– Process innovation

But all this doesn’t look very easy to implement! Yeah, but not so much. There are companies to carry out all this implementation. 

Companies Turn Automation Into Profitability

Much is said today about replacing humans with computers. We recognize an increase in the presence of these technological resources in our lives and, mainly, in the lives of companies.

This can pose a threat for some, while for others, a huge opportunity. The difference lies in knowing how to take advantage of this trend and turn it into a tool for your company.

In the area of ​​​​management, nowadays, it is unthinkable to decide without a basis of consolidated information, although many organizations, from micro to large, do not use this practice.

What Can Be Automated?

The correct thing is that all areas of the company are automated so that you have consolidated information and indications produced from crossing information, for example, the stock with the flow of sales and the profit margin resulting in a touch of liquidity by product or by line.

The sky is the limit for automating your management, and what will determine the format is your need and your desire to grow.

Also Read: Work Automation: What Is It And What Are Its Impacts

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