22 Dec Live View – unrivalled capability to see and control your retail / wholesale business
In the food industry, waste can often be a major factor.
No one likes waste – it’s completely against all environmental, consumer, brand and commercial objectives. It certainly doesn’t make good business sense to ignore waste, and just go with the flow – however how does a food business analyse where the issues lie and also have the capability to address them?
A key pointer is taking decisions earlier, taking actions with product price mark-downs & discounts and not allowing products to be just dumped & written-off can make a huge difference to any food related business. We have seen close to 20% improvement with some of our customers who have focused-in on tackling waste. Small changes can result in huge improvements in food related margins.
Our Live View module within ab-initio provides excellent information in true real-time, showing clearly which areas represent the source of wastage in a store or across a chain of stores. Live View enables stores to immediately measure: –
- Sales and margin;
- Wastage; and
- Non-conformance events.
It’s not enough however just to have measurability where waste is happening – the key is how ab-initio enables the business to respond in real-time to produce less waste mark-downs and write-offs. By providing ‘to the second’ information, the store management can focus on the problems and instantly address wastage, by product or by store. It’s enlightening for everyone involved when they are provided with accurate data on a store-by-store basis.
Through Live View, they have the capability to address wastage and can decide to either: –
- Take more mark-downs to reduce write-offs;
- Change the replenishment ordering process; and
- To enable staff to focus on this area of the business.
The key is having this information available in real-time for pro-active management, and enabling these businesses to do something about it immediately. When it comes to non-conformance events, Live View provides clarity in real-time on which stores have the most frequent issues. This enables the regional store managers or head office to offer solutions such additional training, improving store procedures or tackling specific staff behaviour concerns.
For example, an easily achievable 5% saving of wastage every week across a large chain of stores can result in a huge direct savings, with further environmental and other commercial savings each year!
How does this work in a store? Analysing wastage can become part of the merchandising team’s role, studying Live View from a trading perspective, or it can be managed by the area managers, with a wider focus and who can then assist store staff performance.
It’s in everyone’s interest to reduce wastage, and by providing precise data in real-time, ab-initio uniquely enables a business management team to address issues quickly to improve the business.
It’s one of the small actions that count each day.