December - 20198 MANUFACTURING TECHNOLOGY INSIGHTSIN MY OPINIONThe Importance of Point Of Sale Data for a ManufacturerBy John McClelland, Director ­Business Intelligence, Apex Tool GroupPoint of Sale (POS) data has been an important tool for retailers and distributors for many years, allowing them to make data-driven decisions that are best for their business. Manufacturers, on the other hand, have been late in adapting and utilizing this ever-increasingly valuable POS information. But, as the traditional channels of moving product from manufacturer to the end-user have become more complex and varied, properly understanding the value of POS data has become, and will continue to be, more valuable to a manufacturers' business at all levels. As consumer and end-user purchasing behavior and options continue to evolve, it has become more important than ever for a manufacturer to know how their products are being purchased, what role distribution plays, and how other factors, such as demographics and geography, affect the decision process. Like so many other things in business today, if you are not on the leading edge of utilizing these data tools, you are rapidly falling behind your competition.Embrace POS Analytics Across Your BusinessCommitting to a POS analytics program will provide many rewards for a manufacturing organization and will provide the basis for enhanced organizational decision making and strategic planning. Over the next few years, the most successful manufacturers will engrain POS analytics in their standard business practices, which will create a better understanding of their business and a closer partnership with their distribution channel customers. Through this enhanced knowledge and relationships, manufacturers and distributors/retailers will mutually benefit in areas such as account planning, combined tracking of marketing, John McClelland
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