What’s In a Number? Why You Should Be Thinking About Your ‘Perfect Order Index’ – Article in Cannabis Business Executive
CEO Colton Griffin shares his insight on how cannabis executives have more access to data to analyze efficiencies and how accurately they are fulfilling customer demands as the industry matures in a recent article for Cannabis Business Executive.
He further explains that supply chain experts have developed an easy to understand formula called the “Perfect Order Index,” which provides a calculation and key performance indicator (KPI) that considers each key part of a company’s fulfillment system. “This KPI provides an overall grade for how well you are serving your customers, while the individual components show where the system is working efficiently–or not,” said Griffin.
Griffin explains that “to obtain your company’s Perfect Order Index, you’ll need to capture exceptions in a structured way and divide those by your total shipped orders over a period. Some companies do this at an order level, but often it is at an order line level.” Software systems place an important role in facilitating this.
“Fail to honor your promise to your customer, and they will go elsewhere in the market. Competition is fierce.”
-Colton Griffin, CEO Flourish Software
To read the full article, click online here.