As decision makers across the distribution, CPG and manufacturing industries continue to respond to the itelligence supply-chain benchmarking survey, we’re still taking a detailed look at key performance indicators (KPIs) across industries. In our last post, we saw how West Chester Holdings Inc. adopted the automated it.wholesale solution, and gauged their improvement by monitoring KPIs. Now we turn to the CPG industry for a glance at how itelligence helped one client by mixing up just the right KPI ingredients.
C.B. Stubblefield opened his first restaurant in Texas in 1968. Through funk, disco and grunge, Stubb’s Legendary Kitchen brought the sweet taste of homemade Texas barbeque to folks throughout the country. Unfortunately, after years of getting burned by poor financial planning and forecasting tools, the good times were about to stop rollin’.
In order to keep their spoons stirring and their pepper pouring, Stubb’s needed to quickly spice up their competence in the following core business areas:
- Planning and forecasting
- Cost and pricing visibility
- Creation of audit trails for general ledger entries
- Accurate, complete report delivery
- Cost-control automation
Faced with the possibility of bankruptcy, Stubb’s Legendary Kitchen decided it was time to upgrade their systems. So, they turned to itelligence and selected the it.CPG software solution to help them get back on track. For one, the robust built-in functionality of it.CPG’s promised to get to the meat of Stubb’s problems, without having to cut through a lot of fat. Just as important, itelligence could have the pre-configured solution up and running quicker than Stubb’s could fire up the grill—which was absolutely essential considering the company’s critical financial situation.
By adding a dash of it.CPG functionality and a spoonful of itelligence consultants, mixed with a willingness to overhaul current business practices, the system upgrade came out better than a fire-smoked brisket topped with Stubb’s Original Barbeque Sauce. The system upgrade finished on schedule and within budget, and Stubb’s was able to keep cooks in the kitchen, rather than IT staff in front of a computer. And, oh yeah—not only did Stubb’s avoid bankruptcy, but the revitalized organization began to thrive.
To fully understand the success of the implementation, let’s take a bare-bones look at how it.CPG helped Stubb’s improve these KPIs:
- Inventory as a percent of revenue: Reduced between 10 and 30 percent
- Time and effort to perform forecasting: Reduced by 50 to 60 percent
- Forecast accuracy: Increased by 15 to 20 percent
- Cost monitoring accuracy: Increased by 100 percent
- Closing time: Reduced by 50 percent
- Order processing time: Reduced by 85 to 90 percent
If you haven’t already, you can take the itelligence supply-chain benchmarking survey right now by clicking here. As soon as we compile the results, you’ll receive a free report documenting how your supply-chain operations stack up against your peers.