Now, more than ever, you need to have your finger on the pulse of your business. You need to know industry trends and not only how you’re doing, but how you compare to similar companies in your industry.
Tribute's niche-focused software for distributors and fabricators in the fluid power, automation and process control industry, TrulinX, helps you determine the state of your business with a wide variety of real-time tools and reports to give you the relevant information you need.
By measuring and using key metrics, you can benchmark your company with similar companies, watch your company's performance over time, establish triggers for staffing, and quantify where you're going.
TrulinX allows you to do this with the tools and reporting to obtain key performance indicators (KPIs).
See how your company compares to those in the same industry by using data gathered by the Profit Planning Group for the following trade associations: FPDA Motion & Control Network, ISD - The International Sealing Distribution Association, and AHTD - The Association of High Technology Distributors.
MCAA - The Measurement, Control and Automation Association also provides bench-marking reports. NFPA - The National Fluid Power Association has a wide variety of programs including their Stats Pro Toolkit for bench-marking and their monthly Confidential Shipment Statistics (CSS) Program.
TrulinX helps you measure these Critical Profit Variables:
- Gross Margin Percentage - Reflects the ability to manage pricing and COGS effectively
- Operating Expense Ratio - Measures ratio of Operating Expense per Net Sales
- Sales per Employee - Measures sales generated per full-time employee (employee productivity)
- Inventory Turnover - Measures the number of times the entire inventory stock is sold per year
- Average A/R Collection Period (Days) - Reflects accounts receivable collection practices
- Sales Change % - from year to year
Additional Key Information that can be tracked in TrulinX:
- Return on Net Worth - Measures profit earned as a percent of net worth
- Profit Margin - Measures profit earned as a percentage of net sales
- Sales to Inventory Ratio - Measures dollar sales generated per dollar of inventory
- Gross Margin Return on Inventory - Measures gross margin earned per dollar of inventory
- Typical Sales Volume - Where does your sales come from?
- Gross Margins - average of the past 12 months of sales
Monitor these important metrics in TrulinX:
- Inventory Value by month and trends over time
- On Time Shipments
- Vendor Service Levels
- Lead Time Accuracy on new items
- Accuracy of Release Days and warehouse efficiency by location
- Lost Sales