- Submitted on: Thu, 03.23.2017 05:53pm
We were thrilled to see MITS CEO, Gary Owen, featured in the first of a three-part series tED magazine is publishing on data, analytics, and electrical distributors.
Distributor Analytics Essentials Series: Perspectives on distributor analytics from a sales rep skepticSubmitted on: Wed, 03.15.2017 05:00pm
It’s hard to justify spending cash on something with no simple-to-see quantitative return. I buy inventory, I sell it, I make money. That’s easy! What is there to gain from buying a software tool to help analyze what I buy, how I sell it, to whom I sell it, and for how much?
- Submitted on: Fri, 03.10.2017 06:00pm
Being a middleman is a tough place to be. Distributors often find themselves “caught” between suppliers that want the shortest payment terms possible, and customers who want to take their time paying their bills.
- Submitted on: Wed, 03.01.2017 07:25pm
In this third post in our Distributor Analytics Essentials series, we share some insights on things to consider when starting to look for an analytics solution. Determining the best fit for your business will take some work on your part, but will pay off in the end. Many a software solution has been purchased only to be replaced a few short years later by something else because it wasn’t the best fit or didn’t provide the return on the investment expected.
- Submitted on: Wed, 02.22.2017 07:15pm
In this second post in our series on Distributor Analytics Essentials, we look at return on investment. Analytics solutions are often underutilized when users don’t see the benefit and understand how it will help them make or save a buck.
- Submitted on: Thu, 02.16.2017 12:21am
What exactly is ‘distributor analytics’ and how is it different than analytics, or business intelligence, in general?
- Submitted on: Mon, 01.30.2017 06:17pm
When management guru Peter Drucker famously said, “You can’t manage what you can’t measure,” he was saying that without clearly established success metrics, you can’t quantify progress, adjust processes, or produce desired outcomes. Put simply, in the absence of clear objectives, companies are stuck in a constant state of guessing—and, hoping that they’re doing the right thing to win their end games.
- Submitted on: Mon, 01.23.2017 08:29pm
Dashboards can be a great way for a distributor to maintain a strategic view of business performance: how are we tracking to high level goals, are there key areas trending up or down, what strategic shifts should we make across the operation? But if your team is just reviewing dashboards along with year-end, quarterly, and monthly statements, there are likely a ton of operational insights you are missing out on—many of which could really hurt your business if you don’t identify and manage them closer to when they take place.
- Submitted on: Mon, 01.16.2017 11:55pm
By waiting until the end of the quarter or year to review and utilize your data, you could be missing out on major opportunities to improve, save money, and make better business decisions.
- Submitted on: Mon, 01.09.2017 05:54pm
If your distribution company isn’t paying attention to key performance indicators (KPIs), it could be missing out on a significant opportunity to improve competitiveness and profitability. Defined as metrics that take financial and/or non-financial data and turn it into meaningful information that companies can use for benchmarking and performance measurement, KPIs support good decision-making and help managers and owners measure the impact of those decisions.