Improve demand and supply matching.
With the right insights, you can review your products’ pricing models and look at improving your inventory forecast to plan how often you should replenish your stocks.
Discover how to leverage IMDA’s Business Intelligence Tool and data analytics to optimise inventory management and reduce costs. Learn how to harness the power of data for SMEs and make informed decisions that will enhance your business efficiency and competitiveness.
Analyse your products sales to cost and inventory turnover, and find out more on:
- Which product category generates the highest profit
- How fast a product is sold
- What is the inventory turnover pattern along the year
Create an Actionable Plan
Start making better decisions to help lower inventory costs by collecting and transforming raw data into insights (18.88KB) and start making strategic decisions and forming concrete plans that are specific to your business needs. With Better Data-Driven Business (BDDB) methodologies, you can optimise your inventory management:
- Learn how to identify data collection points and data types
- Prepare data with templates
- Resolve common problems
- Generate and understand useful insights to create actionable plans
Any solutions that can export data easily to the BI Tool?
Businesses using IMDA's SMEs Go Digital pre-approved solutions such as point-of-sale (POS), human resource management (HRMS), enterprise resource planning (ERP) or e-commerce systems will be able to find their data already aligned to the requirements of the BI tool. Find out the list of BI tool compatible SMEs Go Digital pre-approved solutions (137.10KB).
Enterprises and ICM vendors who wish to align their data standards to the BI tool to facilitate data sharing can find out more (24.00KB).
The PDPC has a suite of tools and resources to help businesses interested in harnessing the value of data unlock opportunities and future innovation, while upkeeping and strengthening customers’ trust through accountability. Find out more below.
|Resources on accountability to help organisations strengthen trust with the public, enhance business competitiveness and provide greater assurance to customers in the digital economy.|
|Data Protection Trustmark Certification
||The Data Protection Trustmark (DPTM) is a voluntary enterprise-wide certification for organisations to demonstrate accountable data protection practices. The DPTM will help businesses increase their competitive advantage and build trust with their customers and stakeholders.|
|Trusted Data Sharing Framework / Data Sharing Agreements
||For businesses and their data partners to explore and pilot innovative use of data in a safe “environment”, in consultation with IMDA and PDPC. The Sandbox reduces uncertainty in compliance to current and planned policies, and limits the exposure of companies and consumers.|
|Model Contractual Clauses on Cross Border Data Flows
||Template contractual terms and conditions that may be included in the binding legal agreements between businesses transferring personal data to each other across borders. This helps reduce the negotiation and compliance cost and time especially for SMEs while ensuring personal data protection when data is transferred across borders.|
|APEC Cross Border Privacy Rules Certification
||Developed to build consumer, business and regulator trust in cross border flows of personal data and helps to bridge differing national privacy laws within the APEC region, reducing barriers to the flow of information for global trade.|