Practical tips for Asset Management via connected coolers

Asset Management has become a critical process to master for owners of fleets of coolers.  Preventing assets from being stolen or going missing, and maintaining a digital asset register are universal needs. Here are some techniques we recommend to tackle this, using Nexo solution data.*

 

When you want to prevent theft or unauthorized relocation

One of the key indicators that a cooler may go missing because of theft or relocation is declining commercial metrics. (It seems to be commonly the case that a lost cooler follows poor sales, although the causality of this cannot yet be proven by the data).

Nexo Discovery provides action lists for your coolers which specifically point out declining commercial metrics so you’re able to act on those ‘at risk’ coolers before any cooler theft or unmonitored relocation occurs.

 

  • Identify at-risk coolers from the Nexo Discovery action list
  • Check and reassess your visit plan against the at-risk coolers
  • Focus in on lesser trends to refine your cooler deployment plan: what is the right capacity cooler for each individual store?

 

When you want to rectify issues with your asset registry to reduce write-off costs

Another reason coolers go missing in the asset registry is because they are moved from shop to shop, and the movement is not recorded. Often, the rep in the field may know about these movements, but the asset registry is not updated, which means that when it comes time to audit your inventory the coolers are reported as having gone missing, and the cooler is written off.  This can have significant cost associated with it over your entire asset base.

An enhancement in Nexo Discovery is the automatic updating of the addresses and locations of coolers. This removes the need for a manual process when coolers are moved.

Nexo Discovery also flags up coolers which haven’t been visited for a period of time (a metric which is configurable), thus providing another indicator that someone should visit the shop or cooler to ensure that it is there and in proper working condition.

 

When you want to optimize your geographical distribution based on sales intelligence

Bottlers often tell us that they wish to ensure they have proper coverage of a geographical area. Nexo Discovery includes a new set of maps to enable this.

Heat maps, like the one in Figure 2, display key metrics such as cooler distribution, Door Openings, Footfall, and Conversion Rate. Used in tandem with your operational planning, the data can steer you to take action to cover various geographic areas effectively, based on how coolers are performing against your KPIs.

  • Using zoom and pan tools, navigate the map to find commercial ‘cold spots’
  • A small heat gradient surrounding a cooler indicates a good conversion rate, whereas a wide distribution of colour from red to yellow or green shows that sales are below average for the catchment area of the cooler
  • A cluster of high performing coolers in one area indicates high demand. Could these areas be suitable for increased targeting of consumers?

 

Nexo Discovery provides the tools and capability to effectively manage your asset base and prevent theft issues before they arise. Nexo Discovery was designed from ground up to provide easy to use, actionable insights from your coolers – leveraging big data techniques to determine suggested actions, so you can manage your cooler base effectively and efficiently.

Get in touch with us to discuss your specific need and how Nexo Discovery can be used to help maximize productivity from your cooler estate, on sales@nexo.com.

Or why not take a read of our latest think piece, Developing consumer experiences of the future: three tips for FMCG brands.

 

*Please note that the advice in this article is for illustration only, and that any steps you take based on data collected via Nexo should be based on your own analysis and data. Advice in this article may not be appropriate for your organization.