Contributed by Paul Dodd
I asked my good friend Raul Celorio, VP of IT for Vitaligent, LLC, to discuss how Jamba Juice was able to greatly reduce their Cost of Goods Sold (COGS) through the use of business intelligence during a NRA tech talk. And, wow, was I blown away that not only did he agree, Raul walked the audience through the detailed screen shots of how his team used reports from Radar to pinpoint outliers in order to take the actions necessary to realize 150 basis points savings in COGS spend in only six months. And, expect their savings to be even greater within the next six months.
I can’t summarize such detailed information effectively; you must watch the presentation yourself to understand the power that business intelligence gave them for reducing costs.
“At Vitaligence we created a ‘data democracy’ by making data available to the average, non-technical user without direct involvement from accounting, finance, or IT. When we first joined the approximately brand in 2015, we purchased about 100 units. We made a consciences effort to build systems and views of the data that facilitate this type of analysis. We didn’t want our team members and our field leaders to spend time trying to combine multiple spreadsheets trying to figure out what’s working and what’s not. We wanted it to be apparent to them. We nurtured a culture of action. A culture of backing up your actions with facts; not by driving the business by the seat of your pants.” states Raul in the opening of his presentation.
“When we spend time looking at the data and making decisions based on what is truly happening, it is amazing the results you will find. Using the tools in the examples that I am going to show today, we managed to realize 150 basis points savings in our COGS spend over the last six months and we expect that our savings for the next six months will be even greater.”
By now you are probably thinking that data democracy sounds great but how do I apply that in the real world? Watch the presentation to find out then contact us to find out how Compeat can give your business an advantage.