Developed a Dashboard that Provides a Holistic View of Inventory for a Retail Giant
The client is a leading retail giant in GCC with multiple stores and warehouses across a geography with a large portfolio spread across departments like FMCG, Electronics, Garments, Household etc.
The client followed a manual siloed version of the reporting framework to track and assess the inventory level. In order to control the significant loss of sales and excess inventory levels the client approached TurnB to design and develop a real-time BI dashboard with an exhaustive view. This improved the tracking and measurement of inventory management such as stock-outs, deadstock, slow-moving, excess stock etc.
- TurnB gained clarity on data capturing mechanisms deployed at each stage of stock movement
- Performed exploratory data analysis on stock related datasets & various data discrepancies due to improper data capturing, exceptional scenarios etc. were handled
- Identified SKU inventory planning factors like current stock, active days, supplier lead days, burnout days, re-order level, stock in transit etc. and revamped the calculations based on identified factors and logics backed by inventory standard techniques like FIFO
- SKUs in the red zones like stock-outs were flagged and high-value SKUs from product categories were identified based on their revenue contribution and demand
- Designed and developed an analytical data layer at the client environment and enabled automated scheduled updates for the analytical datasets to refresh with the real-time data.
- Designed metrics to monitor and assess the current inventory level in-house or in-transit and KPIs were designed to shed light on various inventory challenges such as stock-outs, deadstock, excess stock, slow-moving etc.
- Designed and developed separate dashboard views for users at different levels – from top management to store category buyers.
- Provisions were provided to deep dive on SKU segments based on sales performance, seasonality, procurement types like central, local, overseas etc.
- The dashboard enabled the business users and strategic planners to analyze various metrics across different dimensions and make informed decisions considering the inventory levels.
- Timely actions on top SKUs which are out of stock/ on the verge of stock out resulted in minimizing the opportunity loss.
- Exposed non- moving and excess stocked SKUs in each location and reduced the inventory levels by clearing this excess stock.
- Revamped inventory calculations enabled efficient stock replenishments through informed reordering and internal stock transfers.
- Logical calculations deployed in the reports were used in other operational areas like LPO preparations, supplier negotiation, reordering etc.