The sale and procurement of food is one of the most complex issues in the current economic environment, because there is an incredible number of factors that need to be taken into account. Business Intelligence (BI) can help you as a food company to gain greater insight into your business processes and implement them more efficiently and effectively thereafter. But what exactly is BI and what can it imply for a food company? It is essential to answer these questions in order to make optimal use of BI.
As its primary objective, BI translates existing data into information that can be interpreted. This information forms the basis for the decisions you take within your company - and therefore the way you run your business. The translation of data of this nature is reproduced in reports and analyses. Data drawn from various locations within and outside the company is what makes Business Intelligence so unique. This is only possible thanks to the innovative BI software currently available.
In a nutshell, BI analyses business processes so that they can then be optimised. The result is that you can take better decisions concerning the procurement of ingredients, the management of production, the way in which inventory can be controlled and the distribution of goods and services.
In addition, BI helps you to take decisions that are underpinned by your corporate strategy. That makes it easier to determine which market is the most interesting, how production can be conducted as efficiently as possible, how logistics can be optimised and which customer base delivers the most margin. These are all questions that play an extremely important role in the success of your company!
As already mentioned, BI will report and analyse information that is available within or outside your company. This information can become available from your business software, or if you do not have a company-wide ERP solution as part of your CRM, from financial programmes, logistical or financial software, integral software, or software for planning purposes. A BI solution will extract all relevant data from the systems. All this data is stored at a central location for interlinking purposes in a so-called data warehouse.
BI is often regarded as a management tool for larger organisations, but that is really not always the case. BI is also used in the decision-making process at lower management levels and in operational environments. Process steps such as customer contact, financial evaluation. logistical issues and commodity production can all benefit from BI, because systems such as this are becoming even more multifunctional.
If you want to get more out of your business and the processes that need taking into account, making use of BI is an indispensable step. More insight and accuracy in the analysis and reporting of information results in a more focused business process and therefore greater longer-term success.
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