Reporting and analytics play a vital role in empowering businesses with valuable insights to optimise operations, make informed decisions, and drive efficiency and growth.
Business Intelligence (BI) reporting are particularly important in organisations that deal with stock because they provide crucial visibility into inventory levels, demand patterns and supply chain dynamics, enabling businesses to optimise inventory management, streamline operations, and ensure efficient stock control.
Unleashed, a cloud-based inventory management software designed to help businesses streamline their operations and gain insights into their inventory and supply chain processes, enables organisations to harness the power of analytics through its 21 in-depth operational reports. Businesses can also track and monitor Key Performance Indicators (KPIs) related to purchases, inventory, production, sales and customers. By regularly reviewing these KPIs, they can identify areas that require attention, set performance targets, and measure progress towards their goals. This monitoring ensures that businesses stay on track, make necessary adjustments, and continuously improve their efficiency.
Let’s explore the power of reporting and analytics in Unleashed and how they can benefit businesses.
Unleashed provides intuitive and customisable dashboards that present data in visual formats such as charts, graphs and tables. These visual representations make it easier to understand complex information at a glance and identify trends, patterns and anomalies in inventory data.
Unleashed offers real-time reporting capabilities, enabling businesses to access up-to-date information about inventory levels, sales performance and purchasing trends. Real-time reporting helps businesses make informed decisions promptly, respond to market demands faster, and avoid stockouts or excess inventory.
Inventory Performance Analysis
Unleashed’s reporting and analytics features enable businesses to evaluate inventory performance across various dimensions. Users can analyse key metrics such as stock turnover, gross profit margins and carrying costs. Unleashed also uses 12 months of data to create comparisons so you can spot trends and plan ahead, identify slow-moving or obsolete items, optimise inventory levels and improve profitability.
Sales and Demand Analysis
Unleashed allows businesses to analyse sales data and customer demand patterns. By examining historical sales trends and forecasting future demand, businesses can make accurate inventory purchasing decisions, identify popular products, and adjust pricing strategies to maximise sales and customer satisfaction.
Additionally you can automate KPI tracking and view up-to-date and accurate performance figures, presented attractively in-app or in regular updates sent straight to your inbox.
Supply Chain Optimisation
Unleashed’s reporting and analytics capabilities extend beyond inventory management. Businesses can analyse supplier performance, lead times, and purchase costs to identify operational bottlenecks, inefficiencies and areas for improvement.
By analysing data, businesses can identify processes or departments that are slowing down operations, causing delays, or consuming excessive resources. This insight enables businesses to take corrective actions and streamline their operations, leading to improved supply chain efficiency, reduced costs and better coordination with suppliers.
Unleashed offers a range of pre-built reports, but it also allows users to create custom reports tailored to their specific needs. Users can select data fields, apply filters, and choose visualisation options to generate reports that provide the exact information they require.
Predictive Analytics and Forecasting
Advanced reporting and analytics tools offer predictive capabilities by analysing historical data and trends. Businesses can forecast future demand, optimise production or procurement plans, and proactively address potential issues. Predictive analytics helps businesses anticipate customer needs, optimise resource allocation, and avoid costly disruptions, improving overall efficiency.
Through Unleashed inventory management software you receive stock notifications when a product’s reorder point is approaching, reducing the risk of stockouts and low customer satisfaction. You may also obtain a reorder report for your items, which allows you to review your inventory and see what is available, what has been assigned to an order, and what is being purchased.
Integration with Business Intelligence Tools
Unleashed supports integration with popular business intelligence tools like Power BI, Tableau, or Google Looker Studio. This integration allows businesses to combine inventory data from Unleashed with data from other systems, creating comprehensive reports and gaining deeper insights into their operations.
You are also able to integrate with BI Vision, a pay-to-use BI module, which gives you a dynamic view of your products, including metrics such as stock on hand value, cost of goods sold, average days to sell and more.
The reporting and analytics capabilities of Unleashed provide businesses with the necessary information and insights to make accurate and informed data-driven decisions rather than relying on intuition or guesswork. By having a clear understanding of inventory performance, sales trends, and supply chain dynamics, businesses can optimise operations, reduce costs and improve overall efficiency. This leads to better decision outcomes, minimises risks, and improves overall operational efficiency.
Overall, the power of reporting and analytics in Unleashed lies in its ability to transform raw inventory data into actionable insights. By leveraging these capabilities, businesses can make informed decisions, enhance operational efficiency, and drive growth in today’s competitive business landscape.
Radical Cloud Solutions are proud implementation partners of Unleashed. Get in touch to find out more about this powerful inventory management solution.
Additional articles if you would like to learn more about Unleashed: Best Inventory Management Software for your Business, Seasonal Inventory Management: Tips and Best Practices, Understanding the Costs of Holding Inventory.