3. Reduce expenses by optimizing operational costs
Pain points:
High operational costs are often caused by less than optimal use of resources and delivery routes. For example, heavy vehicles such as forklifts, trucks, etc., are the biggest contributor to high operating costs. However, many companies often don’t know how long the duration of use of these vehicles is in the field. Is it maximized? Underutilized? Are there many unused vehicles in the warehouse?
Solution:
Implement each vehicle with a GPS tracker integrated with the software that will collect status, the location from time to time, and the duration of use.
The route planning system can automatically generate the most recommended route, according to selected parameters such as dynamic visiting hours, driver’s total working hours & specifications, as well as customer priority.
If the vehicle carries the product, the system can also facilitate parameters such as the type of product transported, the vehicle type, capacity and specifications, order fulfillment in the correct delivery window (date and time of delivery). All information is integrated in real-time allowing last-minute schedule changes.
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Benefits:
Each vehicle usage report will assist management in allocation and utilization. A maximized vehicle productivity can reduce operating costs, Advotics Vehicle Management System has been proven to reduce vehicle operating costs by up to 14%.
4. Market expansion strategy
Pain points:
Before penetrating a new market, a company must perform a market analysis to validate consumer demand in the area. However, most brands fail to do a market analysis because they don’t use the right technology to do it effectively. Without accurate data and numbers, companies can only see what competitors are doing in the market, not what products are being sold and what products consumers actually buy.
Solution:
Through digitized supply chain platforms such as Product Insights Analysis, companies can visualize data from each SKU and run an in-depth analysis for each product’s performance with an objective and accurate graph because the system tracks and synchronizes all data from various data sources in real-time.
Benefits:
Analyzing the best-selling products and the prices of competitors’ products can help companies find market gaps in customer needs that competitors have not yet addressed in new areas.
Read more: What is Product Insights Analysis? Importance for Principals and Distributors?