{"id":25247,"date":"2021-04-26T16:41:49","date_gmt":"2021-04-26T22:41:49","guid":{"rendered":"https:\/\/www.barcodesinc.com\/news\/?p=25247"},"modified":"2021-04-26T16:41:51","modified_gmt":"2021-04-26T22:41:51","slug":"6-key-performance-indicators-every-small-and-medium-business-should-track","status":"publish","type":"post","link":"https:\/\/www.barcodesinc.com\/news\/6-key-performance-indicators-every-small-and-medium-business-should-track\/","title":{"rendered":"6 Key Performance Indicators Every Small and Medium Business Should Track"},"content":{"rendered":"\n

No matter the operation\u00e2\u20ac\u2122s size, every business\nstrives for better profitability and customer retention. To do so, companies\noften track several key performance indicators (KPIs) to monitor and forecast\nbusiness growth. While there are many viable KPIs to track, small and growing\nbusinesses are often encouraged to monitor the following indicators:<\/p>\n\n\n\n

  1. Order accuracy rates<\/strong> address how often\norders are shipped with the correct products to the correct customer within the\ncorrect allotted time. <\/li>
  2. Inventory turnover rates<\/strong>\ncan record the fluctuating demands for any particular product while assessing\nyour ability to move goods down the supply chain. <\/li>
  3. Gross profit margins<\/strong> provide a clear\npicture of final profits after operational expenses such as labor, shipping,\nand the like are paid off. <\/li>
  4. Cash flow forecast <\/strong>assists small\nbusinesses in predicting the costs of high demand, so they can make adjustments\naccordingly before profits are hindered.<\/li>
  5. Funnel drop-off rates <\/strong>allow you to see how\nmany potential customers abandon purchases to optimize business tactics.<\/li>
  6. Market share <\/strong>clearly depicts how\nyour business compares to competitors by measuring company sales with total\nindustry purchases. <\/li><\/ol>\n\n\n\n

    To track multiple KPIs in real-time without costly errors,\nBarcodes, Inc. recommends simplified and scalable digitization<\/p>\n\n\n\n

    Track it all with Barcodes, Inc. Digitization Solutions \u00e2\u20ac\u201c built\nwith Zebra\u00e2\u20ac\u2122s Scanners<\/strong><\/p>\n\n\n\n

    \n