Automation resolved these burdens, enabling the team to engage in more meaningful analysis and strategic activities.
The dashboard was created based on the systems and processes we had already established. Its effectiveness hinges on how well we leverage its capabilities.
Over the past several years, ACE has consistently increased its annual net sales by 8 to 10%, primarily due to closely monitoring both comp sales and budgeted goals through the dashboard. It serves as our daily report card, and the recently added Overview Live function provides our teams and corporate with real-time updates on KPI performance against budgets.
We've also seen significant improvements in labor controls, including reducing long shifts, ensuring compliance with breaks, and regulating overtime. These efforts have conservatively saved us 7% in yearly labor expenses.
Overall inventory control has improved, leading to a stronger margin and a significant reduction in product loss, reflected by a 2% annual improvement in the cost of goods.
The combination of a competitive, record-breaking culture and the dashboard's ability to track and communicate frequently has led to a 300% increase in records broken over the past 12 months compared to previous years.
Finally, I want to emphasize that the dashboard is constantly evolving, and myAnalyst allows us to quickly pivot to new priorities. This agility has been a significant benefit, enabling us to swiftly address areas that will most benefit the business. As a result, our profitability has increased by over 300% in the last four years. However, it's important to remember that while companies create systems, it's people who execute them.
