Shelf Analytics leads to dramatic reduction in out of stock merchandise leading to over $500,000 in sales!
About the client: Our client is the world’s leading producer of cereal and a leading producer of convenience foods offering nutritious and wholesome choices.
Business Challenge: Our client faced the inability to receive accurate insight as to how its consumer products were performing on the shelves of their top retailers. Product sales tracking involved manual effort giving the food manufacturer a lag time when receiving product sales information making business decisions tedious, sluggish and unresponsive to the store conditions. In addition, the product sales information it was receiving was not tracked at the store level which was needed.
TekLink’s Solution: TekLink offered the following consulting expertise in addressing the challenges of the client:
- Created an automated Availability on Shelf application with data feeds sent 3 times a day directly from the retailer
- Developed a client focused KPI dashboard in Tableau tailored for business executives and business users to enable them to quickly view performance of the products on retailer shelves.
- Integrated application using both Microsoft SQL Server and Hadoop data sources
Outcomes and Benefits: Our client realized the following outcomes and benefits as a direct result of our engagement:
- Automated, accurate, detailed and effective method to retrieve sales & margin performance of the merchandise and marketing promotional offers 7 times greater than the best data source they previously had.
- Comprehensive data visualization implementation where client can consume reports, interact with them at any time and use them as a source for further analysis using any internet device with internet security enforced.
- Dramatic reduction in out of stock merchandise leading to over $500,000 in sales with increased retailer satisfaction.
- Leveraged 3 years of sales history to look for trends, track the performance of in-store activities giving greater visibility and insights to the retail execution team.
- Other departments receiving benefits from the project include replenishment, logistics, and retail execution and customer development for effective growth to build the future.
- Real time tracking of product sales at the store level.
- Realized saving 2,750 work hours per year focusing on strategic direction instead of operational reporting.
“Our Sales and Supply Chain VP found the application remarkably useful and the tool was described as a value creation source that will be integrated with the other efforts that are being made through the company to enable business decisions and strategies for our multi-functional teams.”
-Customer Service Logistics Head