Any consumer goods business wants to have a good product, but they must also turn a profit. Getting to the point of profitability requires a long list of components—from efficient operations, to excellent customer service, to hiring the right people, and being confident in your decision-making. Ensuring profitability starts with understanding the value of analytics and tracking key performance indicators (KPIs).
You need to take a deep dive into the data you’re collecting to see whether you’re actually profitable, where you may be losing money, and how to make improvements. Find out how an industry-specific ERP system can help you harness the power of analytics to improve your profitability.
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