Smart POS ~ My Colours ~ Real Implementation Cases
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.
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.
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.
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.