Industrial goods demand and inventory analytics system
The procurement team analyzes the demand for technical goods and dissatisfied orders. It can distinguish between a real shortage of stock and problems with the catalogue or the offer.
Forecasts are based on sales history, but do not always see queries, unproposed analogs, a fleet of equipment or future maintenance needs. Capital is frozen in slow-moving goods, and the lack of critical parts leads to lost sales and customer downtime.
How the solution works
- Search and sales request are linked to the same customer need when such a connection is reliably known.
- The cause of the undefeated bid is compared to the quantity, term, and approved analogues available.
- The procurement team evaluates the stock scenario along with criticality, timing of supply and the need for serviced equipment.
- The approved action is transmitted to the purchase, catalogue or search repair; its result is then reviewed.
Key challenges
- Stocks are planned without evaluating technical alternatives and lost demand
- Solutions are based on sales, but not the entire query stream
Solution capabilities
Search and search without result signals
It is recorded what customers and professionals are looking for and where there was no proper result.
Analysis of Proposals and Loss
It is seen which technical offers win, lose and for what reason.
Analog effects
It is analyzed whether the alternatives helped preserve the sale when the original product was unavailable.
Analysis of stocks and outstanding queries
Slow-moving stocks are evaluated along with outstanding queries and technical analogs.
Signals of equipment fleet demand
Customer active equipment is used to assess the need for critical parts and scheduled maintenance.
Business context
- Stocks are planned without evaluating technical alternatives and lost demand
- Forecasts are based on sales history, but do not always see queries, unproposed analogs, a fleet of equipment or future maintenance needs. Capital is frozen in slow-moving goods, and the lack of critical parts leads to lost sales and customer downtime.
- Solutions are based on sales, but not the entire query stream
- Reports often do not see what customers were looking for, why the offer was not won, what analogue was not available or how much the service of a particular order cost. It is difficult to accurately manage the range, pricing, vendor capacity and digital channel priorities.
- Visible queries that didn't turn into sales
- The sales report does not show what the customer was looking for, but did not get. Individually evaluated unsatisfied requests allow consideration of stocks, alternatives, or catalogue addition. The team may return to a specific buyer's need, but the decision on the range is made after evaluating the supply and likely implementation.
Core features
- Search and search without result signals
- Analysis of Proposals and Loss
- Analog effects
- Analysis of stocks and outstanding queries
- Signals of equipment fleet demand
Key integrations
- Business customer portal
- Searches, search without result and order signals.
- Customer Relationship Management System (CRM) / CPQ
- Queries, suggestions and reasons for loss.
- Enterprise resource planning system (ERP)
- Sales, Margin, Purchases and Stocks.
- Product information management system (PIM)
- Relationships between Analogue and Product Families.
- Technical Service Platform
- Equipment fleet, work orders and parts requirements.
Potential impact (%)
The ranges indicate an illustrative relative change in the metric under the stated assumptions. Results depend on the starting position and actual use of the solution. Percentages for different metrics must not be added together.
Active time to prepare assortment or stock solution data
12–36%Decreasing
This illustrative scenario assumes that 30-60% of manual data entry and handover work can be addressed. That share is assumed to fall by 40-60%. Company data is needed to verify both the addressable workload and the resulting change.
Analyst-buyer working hours are compared. At the same time, it is indicated which part of the queries managed to reliably link the search, bid and sales result.
Part of Lost Requests without a Reliable Reason
12–42%Decreasing
This illustrative scenario assumes that 30-60% of errors can be addressed through the data and rule checks described. That share is assumed to fall by 40-70%. Company data is needed to verify both the addressable share and the resulting change.
Counting the proportion of lost queries whose cause remained unsupported by facts. The denominator is all lost requests during the period being evaluated; generic choice without facts is considered an unidentified cause.
Revenue from the sale of technical goods
1–6%Increasing
In the example scenario, 20-40% of the original indicator value is associated with the identified technical goods purchase obstacle removed by the team. This part is predicted to grow by 5-15% without other conditions changing.
After a change in the catalog, stock, or offer made by the team, the sales revenue, prices, and margin of the affected group of goods are compared.
Conditional calculation scenarios. The assumptions have not been validated against client measurements.
When this solution is relevant
- Reports only show sales
- It is unknown what customers were looking for and did not find
- The reasons for the winning bids are not recorded.
- Spare parts are only planned based on history
- Customers operate a substantial equipment fleet
Implementation requirements
Analysts need to link the search, proposal and customer's solution so that the same need is not counted multiple times. The sales team records why the order was not received: lack of product, lack of a deadline or price, failure to select the right product.
Further development options
- Comparison of critical parts stock scenarios
- More searches link to specific customer queries