Platform for Software Reviews Distinguishes Logiwa with 2 Inventory Management Software Certificates

We are proud to announce that Logiwa was recently given the Great User Experience and Rising Star awards by reputable software directory FinancesOnline. These recognitions are solely given to software solutions that have received positive transaction from clients due to well-designed features alongside an intuitive interface.

 

In their review, FinancesOnline’s experts thoroughly discussed why Logiwa was deserving of both awards for online inventory management software. Logiwa was described as a robust and user-friendly all-in-one system that effectively streamlines warehouse operation management — from inventory management to order fulfillment. Specifically, their experts praised Logiwa’s seamless receiving and returns process, functionality for creating defined rules and algorithms for inventory putaway, efficient order packing processes, and accurate inventory counting. Our solution was also recommended in the platform’s what is inventory management software guide.

 

To provide an unmatched warehouse management software, Logiwa also provides powerful functionalities to address complex needs and requirements. This includes Logiwa’s real-time wave/batch picking for putaways and a stocktake comparison that allows users to generate discrepancy reports on physically counted items versus items counted by the system.

 

Because Logiwa can make inventory management significantly easier, FinancesOnline ranked us in its top 10 inventory management software systems list. Our clients also believe Logiwa is a dependable platform, as we currently hold a whopping 100 percent user satisfaction rating on FinancesOnline.

 

Don’t Dive Into 2018 Without Looking At This Data First

The 2016 holiday season generated more than $80 billion in total online retail sales this year. This is  almost a third of all retailers’ annual sales during the holiday season, making this the most important time of year for retailers.

If the holidays are so important, why shouldn’t the data be as well? Large volumes of sales during this period generates both lots of data and revenue. Before you close your books for 2017 and the ball drops for the new year, it is crucial to take a look at your annual data. Analyzing the data can help you understand what worked and what didn’t, as well as your future threats and opportunities. All of those insights are based on a relatively large volume of data that you’ve been gathering over the past year, making statistics more significant and the results more important than ever. Don’t dive into 2018 before looking into this first!

 

Data Analysis

While data analysis is incredibly important, making sure the data is accurate and valid is crucial. You should make sure to have the proper systems and tools in place so you can collect data in a manageable and accurate way. Many software solutions, for example, can create data reports and analyses for you. With Logiwa, you can look at your comprehensive inventory and order fulfillment reports in order to understand what happened during a given time period so you can forecast your inventory more effectively and plan your workforce to accomplish order fulfillment.

Once you know your data is “clean,” you can use your data reports to discover trends within your past sales cycles. Some metrics that will give you a good understanding of what happened during holiday season is as below:

 

  •    Total Sales/Revenue
  •    Cost of Goods Sold
  •    Opex – Operational Expenses
  •    True Profitability
  •    Sales by location/channel/store
  •    Inventory turnover
  •    Sales velocity per product
  •    Forecasting performance
  •    Backorders
  •    Stock-outs
  •    Average order quantity/value
  •    Inaccurate shipments
  •    On-time shipments
  •    Warehouse utilization
  •    Staff performance

 

You should always do a year-over-year comparative analysis with your data before the year is over, because this will tell you the most about where your business is now compared to where it was last year. Even more importantly, your data can determine where your business is heading in the future, and help you know what to adjust for in 2018. The numbers tell you where to be cautious with your inventory, where you might have slowed down in the sales cycle, and what new problem areas may arise in your selling process. Understanding the numbers will help you achieve the best short-term and long-term results.

 

External Factors

Analyzing your data is even more insightful when you take external factors into consideration.

Keeping track of what is happening in online retail industry at large will tell you how much your success or failure is due to industry trends or your performance itself.

The best analysis you can get to measure this difference is from your customers reviews and customer interactions with your company. Do you get dissatisfied reviews, or happy customers? Are you getting more returns than usual? Using your customer reviews as a metric is a great way to see how their experience with you measures up to other retailers.  

 

Best Approach to Data

Overall, it is best to keep in mind that most successful entrepreneurs manage their businesses based on numbers. Instead of looking at metrics individually, having a holistic approach and considering all factors together can help you understand your business, the industry and your customers.

 

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Four Ways Supply Chain Analytics Can Give You A Competitive Advantage

The rise of Big Data and a greater number of Internet of Things devices and sensors has the supply chain permanently buzzing about analytics. There are a lot of promises and hype to wade through to find the nuggets of truth and value.

We pulled out the shovels and did some of that digging through the mountain to come up with four nuggets we think you’ll want to look at when considering supply chain analytics.

Your Marketing Gets Smarter

A lot of supply chain analysis focuses on moving orders from manufacture to end-customer through your supply chain — we’ll get to those in a second. But, it’s worth starting with a broader look at what supply chain analytics can teach you about your company, including how you can sell yourself.

Running analysis and modeling of your supply chain will give you insights to your on-time performance, average rates, the percentage of customer returns, ability to respond to a crisis, and opportunities to go above and beyond with customer service.

Look at those metrics and see which you ask of your partners. Do you demand 98% accurate and on-time orders? How about asking for 24/7 emergency support? Do you want multiple inventory channels to ensure a natural disaster won’t cause a disruption?

Use supply chain analytics to find out how your company is operating today. Turn the losses into areas where you’ll invest for improvements. Take the wins and slap them all over your promotional materials to showcase your strengths.

Enhancing Customer Service

What’s your biggest obstacle to providing a more consistent and positive experience for your customer?

The answer to that question will change for different industries, departments, and locations in the supply chain. That said, there is one unifying thread for everyone who will try to answer it: they need data to answer it honestly.

Supply chain analytics is core to that data and understanding because it will allow you to track your on-time deliveries, see locations where others may be causing delays, determine inventory shortfalls, or identify bottlenecks that slow your response times.

Today’s supply chain management and analytics platforms are designed to look at your entire supply chain. They’ll monitor actual results and allow you to compare this to your promises as well as those of your vendors and partners. You get a better understanding of your operations and capabilities, allowing you to give clients better estimates as well as identify locations and inventory to leverage when an emergency or error strikes.

Better Understanding of What’s Next

Supply chain brains are always running on two tracks at the same time. They’re the “what’s now” and “what’s next” tracks.

Real-time data with analysis is designed to help you look at what’s going on now. Systems focus on this data delivery because it empowers professionals to adapt and adjust, minimizing risk and creating immediate value.

However, you’ll also benefit from an analytics platform that offers robust forecasting and future demand planning. If you’re able to predict demand, you can respond with practices that reduce related costs, such as pre-staging goods or running a leaner inventory to minimize the expense of storage.

The leaner you run, the better you’re able to offer competitive pricing. Add that to the improved customer service mentioned above, and you’ll be ahead of the pack when it comes to your next RFP response.

Improved Insight for Leadership

Supply chains are long and complex, but we often end up focusing on our small portion when it comes to advancement and improvement. This often happens internally too.

Analytics can help break down in-house silos by creating a repository of data that touches all aspects of the supply chain. Dashboards and tools will allow leadership and executives to get an understanding of each business aspect at a glance, making it easier to look for trends and opportunities across departments.

An added benefit for warehouse professionals is that analytics make it easier to make your case for system and process improvements, like getting a new WMS. Dashboards can show your capabilities as well as where you struggle, allowing you to point out efficiency possibilities in a cost-benefit analysis easily.

 

About the Author

Explore WMS contributor Geoff Whiting is an experienced journalist, writer, and business development consultant with a focus on enterprise technology, e-commerce, and supply chain development. Outside of the office he can be found toying with the latest in IoT, searching for classic radio broadcast recordings, and playing the perpetual tourist in his home of Washington D.C

 

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