Business Intelligence is the future of any modern material handling equipment dealer. It offers key insight into your own customer data, and visibility into the equipment, processes, and services that constitute your material handling operations. Throughout each facet of every business process in your dealership, increased profitability can be mined from the data that is available to you in real time.
The wealth of material handling equipment data accessed through BI and analytics tools can be used to make decisions that can improve labor and equipment productivity, increase inventory accuracy, and extend the life cycle of various pieces of equipment.
4 Ways BI Can Help Optimize Your Material Handling Equipment Dealership
1. Project Management Reporting:
Project management reporting captures pertinent project data such as work orders, purchase orders, sales, rentals, permits and labor, which then allows the respective profits and losses to be tracked. Your ERP system usually tracks this information, but it’s probably limited to doing any further reporting. It’s vital for proper project management to analyze multiple projects over a period of time to find areas where you can maximize your profitability and increase the cost-effectiveness of your processes. You can automate the sharing of this information throughout your organization so that it’s generated and delivered – via email – on a scheduled basis (e.g. daily/weekly/monthly), allowing you and your team to use your time more efficiently.
2. Service Contracts:
It can be a time-consuming task to track the profitability of all the different service contracts you offer – preventive, full-service agreements, planned maintenance, time and material and total maintenance and repair, to name a few. And that’s not to mention the variety of fees associated with each. BI and analytics solutions offer easy-to-read, data-driven dashboards with key performance indicators (KPIs) such as profit and loss, performance, hours remaining and downtime. This data equips team leaders with the tools necessary to make decisions that can improve service contract profitability.
3. Fleet Utilization:
Understanding your fleet utilization down to its category class and individual equipment level helps to determine the efficiency of each product line. Dashboards showing data from over- and underachieving regional branches allows users to make proactive decisions that can increase product utilization before it becomes a problem.
4. Branch Performance:
Tracking and managing branch performance can also help to improve the overall profit for your business. Financial dashboards, for instance, let users slice and dice their data to see branch performance over time in different key departments, and whether they’ve hit their set financial goals.
You don’t need to be a data scientist to make sense of all of your customer data. Our 24-page eBook features 14 user-friendly and easy-to-read sample dashboards that provide the KPIs that matter most to you. You can feel empowered to make informed decisions that can affect everything from the management of your fleet, sales, and finance as well as parts and inventory, allowing your business to operate more profitably. Download the free eBook
today to learn how to get started.