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Intelligent Restock, Cross-Sell and Up-Sell Product Recommendations

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Problem:

Large wholesale distribution companies typically carry 10,000 or more product SKUs. Currently, field sales representatives for many of these companies must sort through the product SKUs either before (in preparation) or during sales calls to determine which products are:

  • Due for a restock at a particular account;
  • Opportunities for intelligent up-sell and cross-sell at a particular account; and
  • Tied to their sales and revenue goals.     

Typically, sales calls hinge on little preparation time and little meeting face-to-face time, which means this planning process does not occur. Consequently, sales representatives sell by intuition, focused on what they know and when they think the customer will buy. Even if representatives do have time to perform pre-meeting research, it is time consuming and they discover that products need to be restocked only after they are out-of-stock. This faulty process causes wholesalers to lose shelf space, as retailers have restocked their shelves by the time of sales meetings, and it causes representatives to miss valuable cross-sell and up-sell opportunities – i.e. representatives generate less revenue and make less commission.      

 

Solution:

Liquid DecisionsTM uses Predictive Analytics running on SAP HANA to provide real-time restock, cross-sell, up-sell and goal-related product recommendations tied to sales representatives’ accounts.

Liquid Decisions provides InsightPops© that quickly alert sales representatives which of their accounts are due for a restock; likely to help them reach a sales goal; a new prospect; etc.  Liquid Decisions’ RapidOrder gadget uses advanced forecasting algorithms and past order history to auto-populate products and quantities due for restock at each account.  This enables rapid in-meeting order execution, ensuring a wholesaler’s products are never out of stock on retailers’ shelves.  In addition, Liquid Decisions’ RapidOrder auto-populates intelligent up-sell and cross-sell opportunities based upon past order history at each account and similar accounts.

Order tracking provides sales representatives with up-to-date information on how they are progressing toward their goals. When goals are established, the goals algorithms identify target accounts based on customers buying history, and other factors. This target account information is used by the RapidOrder algorithms to ensure products recommended align with sales representatives’ goals, thus making the achievement of goals simpler.

 

Liquid Decisions - without tedious, time-consuming, administrative effort - enables sales representatives to manage utilization of retailers’ shelf space, recommend intelligent cross-sell and up-sell products to their accounts, and meet their sales goals.

 

Benefits:

  • Insight Pops provide real-time, actionable insights driven by goals.
  • Sales managers and representatives define, plan and execute their goals.
  • Ability to complete work, such as Orders and Surveys, directly from
    the interface.
  • Restock and recommended (cross-sell and up-sell) products for faster ordering.
  • Real-time order verification and correction.
  • Schedule appointments and make calls directly from the interface.
  • Engaging and inspiring user experience that drives adoption of the
    business process.

 

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