When it comes to beer, tap handles are a microcosm of the greater brand, and an essential marketing asset for brewers. For many small brewers, these could be the only form of marketing they can rely on. Incidentally, these small but important assets are rather expensive, so they are often stolen.
Although most beverage distributors are aware of this issue and the damage it provokes, very few take action to fix it. More often than not, there is a loss accounted for within the tap handle budget. For years, this inefficient complacency was the norm; however, technological solutions are now able to fix the problem at a reasonable price.
This case study shows how Andrews Distributing Co. leveraged technology to prevent loss on their tap handles and gain a competitive advantage. Furthermore, stringent laws within the beverage industry provoke hefty fines for asset misallocation; these costly mistakes are another pressing concern for many distributors. However, the study also shows how these types of fines can be avoided through the smart use of data collection and asset tracking.
Another lesson inside the case study is the importance of utilization. By tracking your assets and gathering data, you understand what items are being used and what items are not. This small activity can directly increase your bottom line by preventing stale inventory costs and superfluous orders. You can gain utilization data on tap handles seamlessly by tracking them on software apps like EasyCheck. To learn more about utilization, click here!
Lastly, by tracking tap handles on the field, you gain market share data on which brands are being used where. The distributor can leverage this data in multiple ways. For example, you could sell a new brand of craft beer to a bar that does not already carry it by proving that it is selling with competitors nearby. In beverage distribution, you want to understand which drinks are selling where so that you can efficiently re-stock and re-sell.
Tap handles are one of the many assets that beverage distributors manage for their suppliers. With a tool like EasyCheck, you can get a grip on more than just these small but important items.
Interested in learning more? Check out our guide on asset management!