Data Driven Decisions
How Do You Make Decisions?
Inventory Control Decisions Need to Made Based on Data, Not Based on Your Gut!
I was watching a movie last night that prompted a question about the CE industry. Is it the technology, is it about the custom nature of the solutions, or is it the brands?
While these are all important, I believe it is something else that truly makes the CE industry great: the ability to recreate an experience in a home that was once reserved only for movie theaters or concert halls. The CE industry takes clients on a journey from under the earth to beyond the stars and every imaginable place between all from the comfort of our own homes. The aural and visual experience the CE industry provides is truly amazing.
The movie also made me think about how to improve the CE industry. The premise of the movie,”Moneyball,” surrounds the business side of the game of baseball. The general manager was a former player who works in an industry with stiff competition. This business based many of its choices on gut decisions and processes that were entrenched in the industry. So, for the first time in baseball history this manager did something different. He relied on the numbers for picking the players and their positions instead of gut feelings. The great thing about this movie is that it highlights that by the end of the movie, the best ball clubs were starting to check their gut against hard data and adjust.
Today in the CE industry, we make decisions the same way. Most CE businesses make decisions based on their gut and how they think everyone else does it. What if you had a system to objectively track your company’s statistics and allowed you to adjust your process to get the right people giving the right effort at the right time? If you could do that, you’d have the possibility to make a real change in the bottom line for your business.
Whether you are the owner, the sales person, a system engineer, the controller or the installer, it takes a combination of skills to create the best experience possible with the money available. So the real questions are: How much time and resources do you spend to recreate the same quality experience customer after customer? Would some simple analytics and information help to guide your team to make better choices? Are you one of the better and more forward looking teams, who recognize a new and improved way of doing business which will give you an edge over the competition?
TRXio – your inventory specialist – can help you make the right decisions about your business and give you the edge over your competition. Your inventory management should not be left to gut-driven decisions. To learn more about making data-driven decisions for your inventory control, contact us at 844-868-7225.