A management scorecard, commonly referred to as a balanced scorecard, takes an organization's in-the-background business plan and converts it into daily marching orders.
Instead of passively working towards company goals, a management scorecard sets the stage for what needs to be done in the future and lays out the plan on how to get there.
It accomplishes this goal by "scoring" the business and its employees in different categories which, in turn, allows management to see where action needs to be taken. It provides a framework and enables executives to truly execute their business strategies.
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Our software offers capabilities for data mashup, which enables data from disparate sources to be combined for a unified view of corporate performance. This is especially important for management scorecarding since the key performance goals span multiple departments and operational systems.
InetSoft’s drag and drop software allows developers and even end-users to quickly create sophisticated scorecards and dashboards. With intuitive point-and-click capabilities, managers can drill into scorecard metrics to identify root causes of performance problems for faster responses.
The server-based application can be installed in hours, not weeks, and requires only a browser on the client device, whether it’s a PC, Mac, mobile phone, or tablet (including those running Apple’s iOS).
Traditional business intelligence solutions can be cumbersome, expensive, and slow to adapt to the dynamic needs of the industry. This is where a flexible and powerful BI platform like InetSoft's Style BI can be a game-changer, particularly with its open-source-rooted, developer-friendly approach to creating impactful scorecards.
This article will delve into how IT teams at building products distributorships can leverage InetSoft's Style BI to develop comprehensive scorecards. We'll explore the key performance indicators (KPIs) that matter most in this sector, the ideal chart and visualization choices for conveying performance at a glance, and the underlying analytics that can uncover hidden opportunities and risks.
Before we dive into the specifics of scorecard creation, it's important to understand why InetSoft's Style BI is particularly well-suited for an IT-savvy audience. While not a fully open-source platform in the traditional sense, Style BI offers a free, self-hosted open-source version that allows for experimentation and development without initial investment. This is a significant advantage for IT departments looking to prove a concept before committing to a larger-scale rollout. The commercial offerings then provide enterprise-grade features and support as the solution scales.
From a technical standpoint, Style BI is built on a Java-based, service-oriented architecture (SOA), making it highly embeddable and extensible. For IT teams, this means easier integration with existing enterprise applications and a more seamless fit into their overall technology stack. The platform's powerful data mashup engine, known as Data Block™ technology, allows for the real-time combination of data from disparate sources without the need for a traditional data warehouse. This is a crucial feature for building products distributors who often rely on a variety of systems, including ERPs, CRMs, and warehouse management systems (WMS).
Consider the case of a distributor of three-phase, totally enclosed C-face motors. They faced a common challenge in the distribution industry: data siloed across their SAP ERP system, Salesforce CRM, a custom MySQL-based WMS, and various supplier portals. This fragmented data landscape made it difficult to get a unified view of their operations, leading to inefficiencies in inventory management and a reactive approach to supply chain disruptions.
By implementing Style BI, their IT team was able to:
The results were transformative. They achieved a 20% improvement in on-time delivery rates and realized significant cost savings by opting for Style BI's flexible licensing model over more rigid, proprietary alternatives. This case study underscores the tangible benefits of leveraging a versatile BI platform like Style BI in a distribution environment.
A well-designed scorecard for a building products distributor should provide a holistic view of the business, encompassing inventory management, sales performance, operational efficiency, and customer satisfaction. Here are some of the most critical KPIs to track, along with suggestions for how to visualize them effectively within Style BI:
Beyond simply displaying KPIs, Style BI's analytical capabilities allow IT teams to embed deeper insights into the scorecards. For example: