Leverage OpsVeda Margin App to Increase Profitability
- GraceKennedy’s (GK) mission is to deliver the taste of Jamaican and other multicultural foods to the world
- GK manufactures food through its own factories as well as through external suppliers. In addition to its own brands, GK also manufactures and distributes third party brands in Jamaica and internationally
- The company operates in Jamaica, the Caribbean, Central America, North America, Africa and several European countries
The Problem
- GK distributes thousands of food and non-food consumer products and SKUs across the world through its subsidiaries in US, Canada, UK, Belize and others
- Sales targets across products, customers, routes, sales offices and regions across variety of distribution channels/market segments are used to track and monitor performance throughout the year
- Lack of visibility into supply chain disruptions and operational challenges caused loss of sales and margin leakage
- It was difficult to perform frequent and timely impact analysis of price changes, promotions or discounts, on revenue, profitability and margin
Year 2022 is our centennial year. GraceKennedy is making strategic changes as it positions to celebrate its 100th anniversary... Our OpsVeda solution has evolved along with our needs. The new OpsVeda 8.0 Margin App is helping leaders quickly discover risks and opportunities. It allows us to remain focused, continuously measure and monitor performance in each segment, and make better decisions.
Alberto Young
Vice President— Sales & Operations
The Solution & Impact
- OpsVeda enabled JUNI (an AI-based search assistant) to help easily visualize and analyze sales, margins and profits across products, customers, regions and groups
- With the help of hyper interactive visualization and analytics capability, user can slice and dice rapidly to narrow down specific underperforming segments
- Additionally, the OpsVeda Opportunity Apps provide actionable insights and recommendations that could result in improved financial outcome
- Examples of recommendations include making price changes for specific segments and predicting impact of these changes
- In a nutshell, OpsVeda helps measure, monitor and monetize risks and opportunities
Solution
- Margin Management
Objective
- Plug Margin Leakages
- Drive Profitable Changes
- Automate Decision Making
Relevance
- CPG, Food & Beverage
- Fashion, Retail
- Hi-Tech Industries