Hardware Store: My
Colours
The corner lot hardware store is distinct as much for its colourful
exterior as it is for the size of its inventory. With over 10,000 stock
items, family-run My Colours today is a well oiled operation.
Problem:
As the introduction suggests, it is not an easy task for an SME to
handle well over 10,000 stock items. Traditionally, the store utilised
a manual tracking system. As the business grew and stock turnover rose,
managing inventory became an issue. To compensate, the store took to
over-ordering because like every good SME, the customer always came
first. Despite this, locating stock items could sometimes deteriorate
into a chore especially when staff did not adhere to the physical
control system.
The organic growth of the business was also impeded. Sensitive matters
like pricing was over-dependent on the proprietor giving him little or
no time for a holiday, much less grow the business.
Solution:
My Colours opted for a point-of-sale system designed for the retail
sector. The system utilised a touch screen monitor and allowed the
store to implement a barcode system that facilitated easier data
capture especially at the point of sale. By computerising the stock
inventory, the business can easily be system driven, thus freeing the
proprietors from the mundane tasks and allowing them to grow the
business more freely.
Conclusion:
Store owner Desmond Tan was happy to report that since implementation
of the system he had 30% more time to focus on the business development
aspect of the business. This in turn shortened the turnaround time for
starting up new outlets by half, allowing My Colours to respond swiftly
and decisively when opportunity came their way. With the new system,
there was now 100% visibility of all inventory thereby reducing costs
related to over-ordering, holding space or missed sales.
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