Our client is a prominent player in the warehouse and services sector, offering diverse supply chain solutions. Their existing inventory management system is a dynamic web-based solution, catered to diverse user roles across departments. Rishabh Software was engaged to develop a robust real-time inventory tracking system for logistics & SCM through their existing inventory platform. The goal was to empower staff to efficiently manage day-to-day inventory in real-time using a mobile-based solution.
The developed BI analytics solution accurately captured all the records generated between the client and customers, visualizing essential Key Performance Indicators (KPIs) for inventory details. Through agile execution and incremental delivery, we designed a scalable, flexible, and open architecture pattern, supporting the client’s current needs while allowing for future enhancements. The key features and components of this inventory management system included:
Focusing on crucial KPIs for inventory details, the system projects business growth analysis at both yearly and monthly levels. This visual representation enhances data interpretation, enabling stakeholders to extract actionable insights swiftly.
Row Level Security (RLS) restricts access to dashboard reports. Shipping Clients and Inventory Clients are granted specific access rights to ensure data confidentiality.
The system’s dashboard design incorporates both inbound and outbound inventory dashboards, providing a comprehensive view of operations with granular level visibility. It allows the selection and creation of KPIs tailored to specific client needs, ensuring flexibility and customization for an enriched user experience.
Leveraging sales-related data, the system measures inventory value effectively. It goes beyond mere measurement, defining precise measures, objectives, and definitions for KPIs. This clarity in KPI details contributes to strategic alignment and goal-oriented decision-making across departments.
One of the key challenges faced by the client was visualizing and measuring essential KPIs related to the inventory management system in logistics. Well-defined essential KPIs could contribute to strategic alignment by ensuring that all departments worked toward the same objectives. Our team defined the KPIs, making it easy to measure progress towards defined goals and assess the effectiveness of strategies. It was through the effective tracking and analysis of these KPIs that the client achieved functional objectives and established a successful inventory management framework that aligned with their business goals. The implementation of data visualization, comprehensive KPIs, and robust data modeling resulted in a transformative BI solution that enabled the client to optimize inventory management operations across the board.
Reflects inventory management efficiency, indicating how quickly inventory is sold and replaced.
Tracks stock levels during the specified timeframe to aid strategic decision-making.
Measures total revenue from sales within the defined period to provide accurate insights into financial performance.
Analyzes profitability of products or categories to guide product management decisions.
Assesses ROI concerning gross margin to provide insights into overall profitability.
Evaluates financial health and profitability of the business based on gross margin percentage.
Measures average revenue generated per unit sold to drive profitable pricing strategies.
Tracks average cost per unit sold to support cost management and pricing decisions.
Tracks inventory levels and sales performance to generate actionable insights into stock management and demand forecasting.
The impact of leveraging analytics and BI in logistics management translated into improved operational efficiency, optimized pricing strategies, informed inventory replenishment, and an overall enhancement in the client’s financial performance.