Using Data Analytics for Process Efficiency
and Business Development
- The major responsibility of Arihant Filters is to analyse the products in the market based on their performance and relative price and provide a detailed report for concerned users to facilitate a well- informed decision making process.
- In order to make this process simpler, the organisation maintains a reliable network of suppliers with multiple quotation proposals. This practice enables them to asses the scenario and give a clear picture to their clients.
- However, with growing business, they started facing multiple issues. One of the most major issue was the increasing difficulty in analyzing best quotation due to the huge volume of proposals.
- The analysis and review became more and more ambiguous as there was no clear interface available.
- What started off as a simple task became a time-consuming process as there was no proper process to collate all the information available for one quotation.
Arihant filters is a global conglomerate providing heavy engineering products to various sectors. Their business is an intersection for the supply and demand of engineering products to facilitate the network for such transactions and provide best competitive deals.
Problem:
- With RS’s assistance, they installed an interactive software which would become a platform for the vendors and Arihant Filters to engage in an information exchange regarding all the details of the quotation.
- The software was automated and would carry out the entire complex analysis. Once the details of the quotations are fed in, the software would highlight the lowest quotation.
- If a quotation is accepted, then an order would be sent automatically.
- A sales challan/receipt would be also be produced with immediate effect.
Solution:
Conclusion:
With a simple implementation of RS’s software, the entire business model of the organisation was streamlined digitally. This not only helped in improving the efficiency but brought in clarity and transparency. With an interactive interface, the analysis became more accurate, less time-consuming and overall immensely effective.