{"id":6426,"date":"2025-01-16T17:18:20","date_gmt":"2025-01-16T17:18:20","guid":{"rendered":"https:\/\/www.factorydata.com\/?p=6336&amp;lang=en"},"modified":"2025-01-16T17:18:20","modified_gmt":"2025-01-16T17:18:20","slug":"lost-sales","status":"publish","type":"post","link":"https:\/\/www.factorydata.com\/en\/lost-sales\/","title":{"rendered":"Lost sales"},"content":{"rendered":"<h4><strong>Lost sales<\/strong> are <strong>one of the biggest challenges for a company<\/strong>, as<strong> they represent lost business opportunities<\/strong> and<strong> affect both profitability (revenue)<\/strong> and<strong> customer service level (image)<\/strong>.<\/h4>\n<h4>In a sector as competitive as the <strong>auto parts sector<\/strong>, every small<strong> improvement in sales efficiency translates into significant increases in revenue<\/strong>.<\/h4>\n<h4>These are the <strong>main reasons<\/strong> why<strong> lost sales<\/strong> continually occur in the conversion funnels of auto parts companies and a brief comment on <strong>how we can minimize them<\/strong>:<\/h4>\n<ul>\n<li>\n<h4><strong>Part number searched by the customer is not known<\/strong>. Spare parts databases are essential to expand our knowledge of existing part numbers in order to incorporate them into our databases.<\/h4>\n<\/li>\n<li>\n<h4><strong>No solution is found in our stock\/range for part number searched<\/strong>. This is very frustrating because even though we have the solution, <strong>we are not able to find it!<\/strong> Creating and <strong>maintaining equivalencies<\/strong> is essential so that customers can always find the products.<\/h4>\n<\/li>\n<li>\n<h4><strong>Product requested by the customer is out of our stock\/range<\/strong>. Product assortment planning and in particular, the<strong> incorporation of new SKUs<\/strong> with sales potential must be a constant in our daily management.<\/h4>\n<\/li>\n<li>\n<h4><strong>Out of stock<\/strong>. We must constantly adjust stock levels based on demand and sales.<\/h4>\n<\/li>\n<li>\n<h4><strong>Not competitive price<\/strong>. We must compare our prices with those of the competition. An unequivocal sign of non-competitive prices is when our <strong>sales are well below demand<\/strong>.<\/h4>\n<\/li>\n<\/ul>\n<h4><\/h4>\n<h4>Of course, there are other reasons for lost sales that you should pay attention to, such as:<\/h4>\n<ul>\n<li>\n<h4><strong>Poor quality of the product or of a quality different from the requested<\/strong>.<\/h4>\n<\/li>\n<li>\n<h4><strong>Poor customer service<\/strong> (high shipping costs, bad sales conditions, etc.).<\/h4>\n<\/li>\n<\/ul>\n<h4><\/h4>\n<h4>At Factory Data we have developed <strong>Neo system<\/strong> solution, powered by AI, <strong>helps you reduce lost sales by making the most of market potential<\/strong>.<\/h4>\n<h4>This <strong>applied sales intelligence<\/strong> is a valuable tool <strong>to optimize your sales funnel and minimize your lost sales<\/strong>. These are the elements that NEO system focuses on:<\/h4>\n<p><a href=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2025\/01\/Table-Lost-Sales.png\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-6337\" src=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2025\/01\/Table-Lost-Sales.png\" alt=\"Table Lost Sales\" width=\"630\" height=\"352\" \/><\/a><\/p>\n<h4><\/h4>\n<h4><strong>Optimal applied sales intelligence<\/strong> can easily result in <strong>+20% increases in service level<\/strong>, <strong>+5% in sales<\/strong> and a <strong>return on investment &gt;x10<\/strong>.<\/h4>\n<h4><\/h4>\n<h4>You can find more information about how to increase your service level and sales at: <a href=\"https:\/\/www.factorydata.com\/en\/?lang=en\">www.factorydata.com<\/a><\/h4>\n<p>&nbsp;<\/p>\n<p>By Joan Cab\u00f3s<br \/>\nCEO &amp; founder<\/p>","protected":false},"excerpt":{"rendered":"<p>Lost sales are one of the biggest challenges for a company, as they represent lost business opportunities and affect both [&hellip;]<\/p>","protected":false},"author":1,"featured_media":5894,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[20],"tags":[228,30,230],"class_list":["post-6426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-neo-en","tag-applied-sales-intelligence","tag-introducing-new-sku","tag-lost-sales"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - 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