Retail business is highly competitive. Businesses need to understand market trends, keep track of inventory, train staff, create merchandising displays, and in our highly technology driven world use social media to promote brands and track customer spending and loyalty. In order to create and maintain a successful business retailers need to incorporate a Point of Sale (POS) system.
A POS system helps retailers gather data that provides them with important information to make operational changes to meet, and even surpass, customer satisfaction. The more retailers know through the gathered data, the better they are able to support their customers needs and wants. The following story shows how a successful business takes its data and uses it to react to consumer trends and to sell more product.
Philips Lighting began in Singapore with one small outlet store. The need for quality lighting quickly allowed the business to expand to eight lighting stores in Singapore. However, the growth of the business did not stop here. In fact, Philips continually expanded its business geographically, selling to customers through distributors and business owners-operated branded stores. This distribution model is adopted throughout Asia pacific countries: Singapore, China, Indonesia, Malaysia, Australia, Brunei, Korea, Vietnam, and Myanmar. To date, Philips Lighting has over 600 retail outlets.
However, due to the lack of direct contact with customers, the sales data is very much dependent on what the distributors’ and branded stores owners’ self-report. The problem with this is that it takes months to compile data from all different countries. By the time this is done, it is too late to process the data to make any informed decision on factory production schedule and supply chain planning. Furthermore, the non-standard product data added to the complexity in analysing product mix.
In order to solve this issue, Philips Lighting insisted on point of sales to be the default system to send sales data real-time to the HQ serverPOS system. This also helps them to obtain standardized product data through different channels. By doing so, the parent company is able to capture better data and obtain a more accurate picture of the lighting market trends and its stores inventories.
Additionally, the system has helped to facilitate better production and supply chain planning based on the sales data. Edgeworks EquipPOS system immediately sends sales data to the Head Office of Philips Lighting allowing management to examine data in real-time. From this data inventory purchases are made effectively to increase new and repeat business. By recognizing and buying in accordance to the data Philips Lighting is able to better serve their customers.
With a system like Edgeworks POS in place, alongside with its great product quality and customer service, Philips Lighting is now the #1 market leader in the Asia Pacific region.
Image source: Philips Lighting
Image source: Flickr
About Infineon Technologies
Infineon Technologies is a German semiconductor manufacturer founded in 1999, with over 35,424 employees worldwide.
To promote workforce productivity, Infineon HR Team in APAC Region were looking for a solution that would increase employee eat-in rate at staff canteen and encourage the choice of healthy diets among employees in the form of meal subsidy.
In addition, Infineon HR Team also wanted to monitor consumption trends to improve on future offerings to increase employees satisfaction as well as reduce food wastage.
What We Did
Equip F&B POS System using CHD8700 Integrated with Staff Benefit Program Module. The POS system is also integrated to Infineon existing Employee Database, which allows employees to use their badges for identification.
Infineon HR Team in Singapore are the first to implement the system. They can create Staff Benefit Program anytime. Employees are now able to enjoy cheaper canteen meals by simply scanning their employee badges and be rewarded for making healthier choices.
By implementing the new POS system, Infineon Technologies has improved its workforce productivity and promoted healthy eating to their staff. The HR Team in Singapore are satisfied with the performance of the system in achieving the objectives they have set out.
With the success of the POS system implemented in Singapore, Infineon Regional HR Team planned to roll out the system to other manufacturing plants in APAC.
Simply Toys sells collectible toys. Toy Outpost rents out display boxes to small business owners to help sell their products and have a total of 22 outlets across Singapore. While Toy Outpost needs to track their merchandise efficiently, Simply Toys needs to have their system include the feature “Pre Order” implemented as well as the ability to integrate with their e commerce site. The POS system Toy Outpost used was slow and inefficient, resulting in low productivity.
They turned to Edgeworks in November 2015 to help increase their productivity and tracking capabilities. This was made possible due to the innovative and resourcefulness of Edgeworks’ team and working with the managers of Toy Outpost and Simply Toys.
Toy Outpost system was set up for all 19 stores within a month (December 2015). The new system allows for Merchant Sales data to be easily accessed in order to manage the sale across all outlets. The Operation Manager, Alvin Quek, finds the real-time data availability very useful. He is able to check the system and deal with issues that are reported by outlet staff in real-time without have to access the local POS. The system allows store managers and franchise owners to view their individual store’s report. Additionally, there are comprehensive settings for different roles within the system: cashier, supervisor, store manager, and owner. The new system has significantly increased the overall productivity of the Toy Outpost Operation team.
Simply Toys owner, Ann Goh, similarly finds real-time data helpful in her business of selling collectable toys. The data allows Goh to check stocks levels in real-time, providing her with the capability of evaluating particular collectible toys in accordance to stock levels. Prices depend on the quantities: as quantities of the item deplete the rarer the item becomes driving the sales price up.
Simply Toys’ new POS system has increased the visibility of sales and stock, which has helped to improve their credibility with clientele, resulting in an increase of sales. The POS real-time solution and Edgeworks capability in customizing systems based on client needs help the growth of one’s business. Edgeworks is always taking that extra step to help our clients.
Image source: Simply Toys
Whether your retail business is just starting up or has been operating for years, running a successful business can be challenging. One of the key strategies to success is to be able to collect the necessary data to help create and maintain the highest standards of products and customer service.
Using the Point-of-Sales (POS) systems provides a business with the ability to record and track orders, manage inventory across geographically-dispersed locations, increase the visibility of your business online, and provide comprehensive reports that help business owners improve decision making about their businesses.
In each of the following success stories the companies began with using Systems to Scale. Systems to Scale is an excellent system to use when beginning a business and even when you have 3 to 5 stores. However, when a business grows beyond its initial 3-5 outlets, POS is equipped to better keep track of inventory and help with communications across geographical spaces.
Read some success stories from businesses who have worked with Edgeworks:
Successful Businesses Makes Edgeworks Successful
Edgeworks has helped Chang Cheng and Philips Lighting to develop and improve its efficiency while maintaining its core values of delivering safe and healthy products to its clientele. Edgeworks POS systems delivers quality products that allow businesses to keep up-to-date records in real-time. It also customizes software to match the client’s needs. To date Edgeworks has worked with over a 1,000 local businesses in Singapore.
By choosing to work with Edgeworks POS systems you are providing your business with the edge it needs to be successful in a demanding competitive market.