From Insights to Action: Leveraging Revenue Intelligence in Inventory Management
By Zilliant
Feb 06, 2024
Table of Contents
Inventory management is a complex task. Whether there is a shortage, surplus, or stockout, your sales team needs to quickly adapt to any inventory challenge.
Unfortunately, many companies still manage inventory with spreadsheets. They are thus never working from the latest set of facts. The reality is that inventory moves up and down quickly. An intelligent approach to connecting inventory insights to sales reps in the field is needed to gain a competitive edge in today’s business environment.
Managing Inventory with Revenue Intelligence
Leading B2B companies are bypassing manual processes and tackling inventory management with revenue intelligence. Revenue intelligence solutions help move inventory quickly by analyzing sales trend data and generating insights for a particular product.
Sales operations teams can then make these inventory insights actionable and publish them in their seller’s interface of choice.
Generating Inventory Actions with Zilliant Revenue Intelligence
Zilliant revenue intelligence applications, such as Sales IQ™ and Campaign Manager™, work in tandem to a) identify customers likely to purchase inventory or provide a suitable alternative and b) deliver prioritized actions to sales.
Here’s an example of how the inventory action process works when a product is out of stock:
- Warehouses in a business’ south and central regions are unable to stock products that it usually has on hand.
- The sales operations team creates a mapping of replacement items for each out-of-stock product. The mapping is imported into Sales IQ™, which immediately matches it to what current customers are buying and generates customer-specific insights. These insights include customers affected by stockouts and opportunistic purchase patterns.
- In Campaign Manager™, sales operations can further filter these insights down based on thresholds such as customer buying frequency and purchase volume.
- These customer-specific insights are delivered to the sales rep’s CRM tool of choice as easily consumable inventory actions. Sales reps can also update the inventory action status to provide reporting on performance.
The result: sales reps understand what they need to focus on, sales operations teams can efficiently translate strategy into action, and executives can see the financial impact.
Insights to Action
Responding to inventory challenges in real-time by operationalizing insights will be the difference maker between leading and lagging companies. Inventory actions generated by Zilliant revenue intelligence help close the strategy-to-execution gap and empower sales teams.
Watch On-Demand: Revolutionize Your Sales Game: Boost Efficiency and Skyrocket Revenue with Intelligence
How do you empower your sales teams to confidently close deals and quickly deliver the right price strategies with the most effective sales motions? Watch this webinar to learn how Zilliant Revenue Intelligence empowers sales teams by creating AI-driven customer-specific recommendations to help:
- Identify "hidden" cross and upsell opportunities
- Push excess or expiring inventory quickly
- Win back lost or decreasing demand for specific product lines
