How Business Intelligence and Analytics Help You Gain Competitive Advantage - Bar Code India

 

How Business Intelligence and Analytics Help You Gain Competitive Advantage

According to McKinsey & Company, “By 2025, smart workflows and seamless interactions among humans and machines will likely be as standard as the corporate balance sheet, and most employees will use data to optimize nearly every aspect of their work.”

The rapid rise of Business intelligence and analytics (BI & A) has transformed reality as we knew it over a relatively short period.

What is BI &A?

BI focuses on past events and patterns, while analytics examines why they occurred and predicts future outcomes. Together, they collect and analyze data to drive insights and predictions.

Advanced technologies like AI and machine learning are used in quality BI & A solutions to compile and analyze complex supply chain data quickly. BI & A are essential for companies to increase productivity, cut costs, and boost revenue by making data-driven decisions, giving them a competitive edge in the business ecosystem. Read more....

Source Link:- https://barcodeindia.com/blog/how-business-intelligence-and-analytics-help-you-gain-competitive-advantage/

All That Entrepreneurs Need To Know About Supply Chains, Right Here! - Bar Code India

 

When you come up with a new range of products, say, a winter clothing range, then the final realized product that reaches your customer’s doorstep is the result of a long sequence of processes. This entire network between a company and its suppliers that enables the production and distribution of a product to the final buyer is called a ‘supply chain’.

A supply chain, therefore, is a series – or rather – a chain of steps. It involves a very large number of people who specialize in separate parts of the process – producers, vendors, warehouse operators and managers, transportation companies, distribution centers and finally, retailers.

The Role of Supply Chains in Business

In today’s world, it is impossible to ignore the role that supply chains play in business. Let’s explore the various ways in which they help businesses. Read more....

Source Link:- https://barcodeindia.com/blog/all-that-entrepreneurs-need-to-know-about-supply-chains-right-here/

Selecting Barcode Solution Providers: What to Keep in Mind - Bar Code India

 

The global barcode market is estimated at nearly $30 billion in 2020, expected to grow over 33% to $40 billion by just 2025. The Indian market itself is expected to grow at a CAGR of 16.8% between 2019-2024. On a closer look, this significant increase in demand, and the sector’s growth, aren’t surprising.

We’re referring to Barcode solutions here – the umbrella term used for a variety of products and features:

⦁ Software that powers traceability and efficient tracking and tracing of inventory
⦁ Supported by hardware components like mobile computers, printers, handheld scanners, infrastructure,

Barcode systems are used to automate data collection to make processes less time-intensive and much more efficient. Specialized software is an integral part of these services – allowing for unparalleled efficiency in tracking and tracing inventory, simplifying sales reporting, and minimizing costs. Read more....

Source Link:- https://barcodeindia.com/blog/selecting-barcode-solution-providers-in-india-what-to-keep-in-mind/

How E-commerce Companies Can Achieve 10x Customer Satisfaction Using RFID - Bar Code India

 

If you are someone who runs or a part of an e-commerce business, imagine this scenario:

One of your customers orders something from your online store.

After the order is placed, you discover that the item purchased is out of stock. How embarrassing would it feel to admit this goof-up? And what impression of your company will that customer have?

Do you think that customer would ever recommend your platform to friends or buy from you again?

You wouldn’t just lose one customer; you would lose several potential customers as well.

You will not only lose people in the customer’s close circle but also countless others if there are many such instances and there are several negative reviews for your platform.

Today, there’s a fierce competition in the e-commerce sector and it’s the need of the hour to have technology such as RFID at the backbone of an e-commerce business. Not only will it enable you to cut through competition but also create new business opportunities.

What is RFID technology?

RFID technology offers automatic identification and tracking of objects or entities by making use of radio-frequency waves. Broadly, RFID technology can be of two types: Active and Passive. Read more....

Source Link:- https://www.barcodeindia.com/blog/how-e-commerce-companies-can-achieve-10x-customer-satisfaction-using-rfid/