BI in the warehouse is no longer “optional.” Organizations have too much data. It’s coming in from too many sources and stored in too many places. Getting value from that data is the key to surviving and thriving in 2022 and beyond.
If any of the following four scenarios feel familiar to you, it’s time to consider shopping for a Labor Management System (LMS) with BI functionality:
- Reporting is done manually in Excel and is time-consuming
- You have difficulty pulling and joining data from multiple data sources
- You’re unable to access and utilize the data collected to see insights
- You lack data visualization in real-time
Today, no competitive business uses Excel to crunch large, scattered, and unstructured data sets. And, no employee has a week to kill cleaning up data, so it all makes sense together. Having BI functionality embedded in your LMS will enable you to analyze all the data your operation collects and rapidly turn those insights into action.
Once you’ve determined that your LMS does not have the BI functionality you need, it’s time to make a case for upgrading to a new solution. Creating a compelling ROI narrative involves:
- Working with business stakeholders to identify, prioritize, and select value propositions for a new solution
- Assuring these stakeholders that future investments are aligned to mission-critical business priorities and will deliver the highest net business value
- Identifying the capability gaps that must be closed to ensure success
Completing this exercise will equip your business to build and sell a narrative about why a budget for a new solution is essential. With this knowledge, you can:
- Create value propositions for an LMS with embedded BI functionality by mapping mission-critical business priorities to system capabilities
- Rank the business value of each of these priorities by weighing the business and financial benefits against your ability to deliver
- Identify the features and functions that offer the best business value for your strategic targets and a given investment level
- Leverage the insights you get from your consultation with stakeholders to set priorities for your strategy and as a critical input to your operating model and communications plan
Keep your focus on the desired business value — over and above the IT benefits— and you are sure to engage business leaders.
Planning and Selling an Effective Timeline
Once you build a case for investing in a new LMS, you’ll need to map out how long it will take to implement your project.
Of course, the project’s scope will impact timelines quite a bit, but you can expect that an LMS implementation to take three to six months. When you factor in time to evaluate vendors, conduct proof of concepts, and implement the product you’ve chosen, this timeline provides ample time to complete a thorough evaluation and implement your chosen solution. While stringing together open-source tools in the form of an in-house solution to complement your current LMS functionality may seem faster, in the long run, this will significantly limit your overall functionality.
An LMS with embedded BI functionality is the best way to ensure your operational team receives relevant, actionable intelligence right at the decision point.
Start Building a Plan to Upgrade Your LMS for 2023 Now
Procrastination is opportunity’s assassin. The cost of not using your data to uncover new insights and measure performance grows every day, expressed as lower retention rates, diminished profits, decision delays, and added staff time spent on developing alternative solutions. How valuable would it be to improve net retention, profits, or company efficiencies by 15% now rather than a year from now? That’s why there’s no time like the present to make a case for an LMS with BI functionality.
Have your checked out B.I. Series #2? – Using Labor Management and Business Intelligence to become an Employer of Choice
Call TZA and speak to a representative to discuss your challenges. (800) 229-3450.