Tracking product sales and inventory levels with the new SocrateBI`s module ISAM
Companies need the full cycle of business performance insight to achieve improved corporate performance. The iterative and ongoing cycle of decision making is based on reporting on key metrics, rigorously analyzing data and monitoring key indicators.
For companies activating in retail and distribution, to have a clear picture of what kind of products customers need and if those products are all the time on stock is a matter of „live or die”. In order to support them, BITSoftware completed its business intelligence solution SocrateBI with an inventory and stock analysis module (ISAM).
With this new module, managers can gain real-time answers to questions like „what is my average quantity sold for days with stock?”, „which are my sales and stocks for products?”, „for which products do I have stock and do no have sales?” or „what is the quantity on hand and amount on Category Products, Subcategories and Brands?”.
SocrateBI ISAM includes a set of operational reports which help companies to see trends or which display very specific, detailed data about stock, quantity on hand, amount on hand, average quantity sold and so on. By using this reports, stock products without sales can be tracked, allowing you to identify under performing products and to establish a new strategy on these products, in order to avoid financial blockages due to purchasing of products difficult to sell.
The new ISAM module also gives you a clear picture of current stocks and their value, allowing you to streamline the supply by a better management of new orders or by relocating products from one administration to another.
SocrateBI ISAM includes also other important reports, such as:
- Average quantity sold for days with stock
- Date of Last Sale for Products with Stock = 0 in the last 30 days
- Item Sales vs. Stock
The ISAM module was added to the already existing SocrateBI`s modules launched in November 2011: FRAM (Financial Reporting Analysis Module), PCAM (Project Controlling Analysis Module) and SCAM (Sales and Customer Analysis Module).