Key Performance Indicators

It is important for your fulfillment company to share its Key Performance Indicators (KPIs) for several reasons:

1. Transparency: Sharing KPIs promotes transparency between your business and the fulfillment company. It allows you to gain insight into their operations and performance, which is critical for building trust in the partnership.
2. Accountability: By having defined KPIs and regularly sharing performance data, the fulfillment company is held accountable for meeting the agreed-upon service levels and quality standards. This accountability can lead to improved performance as the company strives to meet or exceed these metrics.
3. Quality Assurance: KPIs provide a clear measure of the quality of the fulfillment company's services. When you have access to these metrics, you can quickly identify areas where performance is lacking and work with the company to address issues promptly.
4. Continuous Improvement: Regularly sharing KPIs allows both you and the fulfillment company to identify areas for improvement. It provides valuable data that can be used to optimize processes, enhance efficiency, and improve overall service quality over time.
5. Cost Management: KPIs related to shipping costs, order accuracy, and inventory management can help you better manage costs. By understanding these metrics, you can make informed decisions about pricing, inventory levels, and shipping methods.
6. Strategic Planning: Access to KPIs allows you to make more informed strategic decisions. For example, if you notice that order processing times are consistently longer than expected, you can adjust marketing campaigns or customer expectations accordingly.
7. Customer Satisfaction: KPIs related to on-time deliveries, order accuracy, and returns processing directly impact customer satisfaction. When you have visibility into these metrics, you can proactively address any issues that might affect your customers' experience.
8. Contract Compliance: If you have defined KPIs in your service level agreement (SLA) with the fulfillment company, regularly sharing and reviewing these metrics ensures that the company is meeting its contractual obligations.
9. Communication and Collaboration: Sharing KPIs facilitates communication between your business and the fulfillment company. It allows both parties to work collaboratively to address performance issues, set goals, and align on priorities.

Here is what TBM Solution does for its client.

1. Dashboard and Reporting Tools:
   • TBM Solution offers its clients access to online dashboards and reporting tools. Clients can log in to MyTBMHub to view real-time data on order processing, inventory levels, shipping status, and other key performance metrics.
2. Regular Reports:
   • TBM Solution provides access to regular performance reports to clients, typically on a monthly basis. These reports include metrics such as order accuracy, order processing times, inventory turnover rates, and shipping cost analysis.
3. Key Performance Indicators (KPIs):
   • TBM Solution has defined specific KPIs in their service level agreements (SLAs). These KPIs include metrics around order accuracy, on-time despatch, and inventory accuracy. TBM Solution shares regular updates on how they are meeting these KPIs.
4. Alerts and Notifications:
   • TBM Solution sends automated alerts and notifications to its clients when certain events occur, such as when inventory levels reach a specified threshold, or when there are delays in order processing or shipping.
5. Customer Support and Communication:
   • TBM Solution prides itself on having a  responsive client support team that are available to address client inquiries and provide updates on performance issues or concerns.
6. Meetings and Reviews:
   • TBM Solution holds regular meetings & performance reviews between the its clients and its client services team. This is an opportunity to discuss performance, review metrics, and identify areas for improvement.
7. Performance Improvement Plans:
   • If performance falls below agreed-upon standards, TBM Solution works with its clients to develop and implement improvement plans. These plans outline steps to address performance issues and enhance service quality.