Advantages of Investing Self-checkout Counters for the Retail Business in Singapore

This article is taken from a press release news from the Straits Times. Learn more how beneficial self-checkout counters are for the retail business in Singapore.

It is not just supermarket chains and fast food outlets – even mini-marts are starting to adopt self-checkout machines in Singapore’s push for retail productivity. In fact, the main reason why retail businesses in Singapore are adapting to this technology is the inventory management system, making their inventory monitoring easy and more accurate.

 

In South Buona Vista Road, mini-mart Food-Joy is one of the first few mini-marts to adopt the machines.

 

The company invested in its first self-checkout counter in January last year, with the support of Spring Singapore’s capability development grant. After two months, it decided to buy a second machine, which cost more than $50,000 each.

 

With the self-checkout counters, queuing time was reduced from about three minutes to one minute per customer, increasing the number of sales transactions per day by about 15 per cent, said general manager S. Janakiraman during a learning journey on Friday (April 21) for micro-retailers and attended by Minister for Trade and Industry S. Iswaran.

 

Since then, the mini-mart has seen up to 20 per cent increase in revenue last year compared to 2015, added Mr Janakiraman, who has been working at Food-Joy for eight years.

 

The self-checkout counters have also reduced the number of manned cashiers by half. As a result, employees are freed up to take on new roles such as stock-taking and merchandising, said director of Food-Joy, Mr Tay Eng Khiam.

 

While cash counting previously took employees 20 minutes at the end of each day, the process now takes about two minutes.

 

However, the store still needs at least one regular cashier counter, manned by an employee, for the sale of controlled items such as alcohol and cigarettes, said Mr Janakiraman.

 

During the learning journey, Mr Iswaran said more small and micro-retailers should embrace the use of technology to enhance their growth and competitiveness.

 

“The retail industry is changing fast,” said the minister.

 

“Scale should not be a barrier as small businesses can collaborate with associations and industry partners to acheive the desired outcome.”

 

So, if your business is not thriving and is still in the traditional system, why not consider shifting and adapting to the technology and take advantage of the self-service checkout machines to help you especially with its  inventory management system.

 

source http://businessachiever.net/2018/08/01/advantages-of-investing-self-checkout-counters-for-the-retail-business-in-singapore/

Reasons Why a Warehouse Inventory Management is Ideal

While you may think that warehouse inventory management is simply the practice of arranging your inventory so that it can be found quickly, there is more to it than that. Good warehouse organization is not only about putting everything in its place, it’s about maximizing productivity while saving time and money to increase inventory accuracy.

Some practices like labeling are intuitive and can be done without the use of software. Others like barcodes, scanners, RFID systems, automatic identification and wireless LANs are all part of warehouse and inventory management systems that focus on monitoring the flow of products and enhancing accuracy with software.

Today, I’ve gathered some helpful tips on a better warehouse inventory management and improve a warehouse’s performance that can be applied to any warehouse operation, with or without software.

 

Good warehouse inventory management starts with upkeep

 

Inspect your operation regularly and review your warehouse’s organization – just because it was well-organized when you initially started, doesn’t mean that it meets your current standards.

 

You’ll want to look for things like: is the stock located in a way that it allows your crew to easily and a safely access it? Are the fasting moving SKUs located at between waist and shoulder height so that they be quickly retrieved? Is there a designated area for damaged items, and are the damaged items being dealt with daily? Without regular upkeep, a well-organized warehouse can quickly become disorganized and difficult to navigate which can slow your pickers down and lead to safety hazards. Rather than waiting for operations to slow down before you decide to reorganize, have a daily checklist for the manager, and hold him or her responsible for the upkeep of the warehouse. Click here to learn more about warehouse optimization.

 

Know your high sellers

 

By placing your high volume items closer to the shipping area and making sure they are easily accessible, you’ll eliminate a lot of unnecessary labor time, and your employees will think you are super considerate. Win-win! Obviously, this should only apply to your proven top sellers to avoid unnecessary physical inventory re-allocation.

 

 

Utilize cycle counts

 

wait until the annual physical inventory count comes to perform regular inventory control audits.   Perform cycle counts and analyze their discrepancies to perfect the time it should take you to go through all locations. For those of you who don’t know, cycle counting is a type of perpetual inventory counting that takes places in waves over time. Only small subsets of inventory are counted during each wave. It’s good to have cycle counts go through all locations every quarter so that you have a more accurate back-office system. Check out our article on improving your cycle count procedure if this sounds daunting to you!

 

 

Minimize unauthorized traffic

 

Do you ever notice someone walking around your warehouse and think, who is this guy? A new hire? A lost pizza delivery kid looking for your shipping office? Someone from customer service picking something they shouldn’t? Eliminate the risk of having unauthorized people walking around the place where your inventory is stashed.  Give your employees some kind of an identifier (like special t-shirts) that can distinguish those working in the warehouse and those that shouldn’t.

 

 

Make room for receiving

 

A lot of inventory errors can happen at receiving if your warehouse inventory management personnel don’t have enough space to work.  Avoid giving them a small office at the end of the room. Eliminating receiving errors will relieve you from all kinds of ugly issues later in the selling cycle, like losing time, money, and credibility.

 

 

Implement quality control

 

Avoid having to fix your mistakes after the fact by double checking your orders. This is called quality control and adds another layer of responsibility.  The process usually involves checking a picked item against an order to make sure it’s the correct SKU and quantity. This is also the time for QC to check the item for damage to make sure that it is being shipped in it’s advertised condition and that the customer receiving it will be happy. Get one of your veterans to do this and save your business a lot of money.

 

source http://businessachiever.net/2018/08/01/reasons-why-a-warehouse-inventory-management-is-ideal/

Significance of POS for any Business in Indonesia

“Is it necessary to get a program kasir toko?” This is a very common question that is asked by a lot of planning to get started on or improve a company in Indonesia. The majority are in the opinion it is an additional expense that’s not really necessary. The easy thinking is that if the conventional cash till or cash register worked why adopt a far more expensive want to perform the same function. Simple truth is that Point of Sales (POS) is more than your ordinary cash register or cash till and includes a variety of benefits including the following:

1. Improved Financial Recording

 

One of the biggest challenges to businesses in Indonesia is keeping accurate financial records. Normally, they’re going to depend on people to record transactions, handle cash, give change, and in addition get money. Unfortunately, we make mistakes and will in most cases overcharge or undercharge a customer, or are not able to keep accurate records, or use wrong coding, which can lead to losing a customer or job as a result of feeling cheated. This can lead to the business losing its revenue (profit), or perhaps the business lacking its credibility. A POS machine eliminates all these issues ultimately causing financial accuracy.

 

2. Better Accountability

 

Monitoring transactions and staff happens to be an uphill job for companies. Firstly, a small business may fight to adequately compensate/pay its staff. Secondly, accurately monitoring the activities is actually difficult due to limited resources. This creates loopholes where unscrupulous staff may use the business. Also, knowing which member of staff performed a certain activity is also challenging. Electronic POS (EPOS) systems help businesses track all activities in tangible-time. As well as improving accountability in addition, it improves transparency.

 

3. Improved Speed

 

Many customers in addition to business proprietors complain of a process taking too long. Rise caused by slow workers relying on cash tills, cash registers, or electronic calculators to do the part. This becomes even more complicated every time a customer would like to pay using debit cards, credit card or some other way of online payment. Having less experience and lots of transactions not only decreases the task but could also cause many errors. Using a pos machine is the best way to handle drawbacks. It integrates several systems thus improving the velocity.

 

4. Enhancing Efficiency

 

The goal of any business owner Indonesia is to maximize revenue or profits and minimize loses or expenses. And the only way that is achievable is applying systems which are highly-efficient. An excellent system should capture all the vital data quickly, appraise the transactions, and in addition store the information. This ensures the client spends minimal time in the queue and feels satisfied. A real customer is more prone to keep coming back compared to another who had been kept waiting on the queue for a long time. That is why it is best that you should choose to purchase a program kasir toko.

 

5. Better Stock Management

Modern POS systems include a range of features. The most essential is stock management allowing business persons keep an eye on their inventory. A fantastic system will maintain accurate record in the stock at hand thus reducing the possibility of running out of stock. It’ll alert or remind the dog owner to restock when the re-order level may be reached. The procedure occurs in actual-some time to can be interacted along with other systems .It could also be used to evaluate which stocks moves fast and the volume of dead stock.

 

6. Improved Reporting

 

A POS machine not only monitors business performance and also provides reports and records of the. Someone who should verify transactions or business performance for any given period only needs to undergo the stored reports. Such data helps someone know which areas are accomplishing well and which departments are falling behind. It will help a company think of better methods to improve the overall business. Common corrective measures include giving discounts on slow-moving products, using promotions and advertisements, end of the season sales and even more.

 

The above are several reasons why any company should adopt POS Indonesia. It helps the firm improve financial accuracy, accountability, transaction speed, efficiency, and stock management. Furthermore, installing a good program kasir toko also boosts productivity and profitability.

 

source http://businessachiever.net/2018/07/29/significance-of-pos-for-any-business-in-indonesia/

Reasons You Require the Best POS to Your Retail Business

Everybody knows how tons of competition can be in Singapore’s bustling city and commercial hubs. Retail corporations are all attempting to inch in front of one another while they continue to sprout throughout the city during the entire economic boom of the country as well as continuously flourishing sectors. It’s thus important to arm your personal business with state-of-the-art equipment, part being an amazing point of sales Indonesia  (Point of Sales) system.

 

Preparedness for Growth and Competition

 

As new shops are set up, fresh local brands and popular franchises from abroad are popping up, and commerce and trade continue to thrive, you should also keep your own growth and advancement.

 

Are you certain you are well-ready for the influx of shoppers? Are you currently equipped to move forward and expand if necessary? Are you able to handle your growing inventory whilst still being manage efficient day-to-day operations? These some of the questions you may need to expect to answer— away from the future, these days.

 

Why and How the Top POS Can Assist You

 

Which has a high-tech POS system, it is possible to regularly update your inventory, manage and monitor your profits, transform your CRM, are available upright with comprehensive reports. This way, you may be in addition to your game… along with your competitors.

 

With all the best point of sales Indonesia industry has to offer, it will surely improve your management, transform your services, permit you to better cater to your customers’ needs, and supercharge your profits too within the long haul.

 

Specifically, listed here are the spectacular items that an outstanding POS system like that from Edgeworks Solutions are capable of doing for the business:

 

• Sales Supervision

 

By way of a brilliant retail POS system, you’ll be able to accurately capture the genuine time sales of every store you might have, view and compare the sales across multiple outlets, and even mention which are the popular categories and items that you have. Similarly info can assist you identify which stores or products ought to be promoted more and is incorporated into your discount offers and promos.

 

Furthermore, sales supervision through a good retail POS may also let you manage and schedule any orders and deliveries. It may be easier at the same time to integrate your ongoing promotions and discounts and apply them immediately to stop errors in sales reports. You can even view how they’re doing with an exact moment.

 

• Inventory Management

 

Every good business needs efficient inventory management. Since your business grows, you can only do so much in your humane abilities. But with aid from a reliable machine, stick to enjoy optimum inventory levels across your various branches while even getting quick stock alerts. These alerts help in what you if your particular method is already reduced stock or maybe if there are stock transfers within stores.

 

Using a well-organized inventory, make no mistake – of keeping the supplies intact, not running in short supply of your products along with other needs, avoiding theft and misplacements, and boosting productivity and operations.

 

• Customer Relationship Administration

 

Naturally, one of many most crucial areas of running any retail company is maintain good customer relationships. What if you’re not able to keep an eye on your customers’ submitted data? Then you won’t be able to make sure they know if you have an ongoing promo. Or what if you want to enhance your sales through upselling? Knowing your customers’ shopping history will certainly aid you in this regard.

 

With Edgeworks Solutions’ topnotch retail POS, you will not only maintain customer records efficiently but you can see these across multiple stores too. Moreover, the POS allows you for you too to research customer history and also recognize your top and frequent buyers.

 

• Comprehensive Reports Generation

 

In every single business, generating comprehensive reports is crucial because they documents will be the hardcore proof what are you doing in your operations and profits. Without thorough and accurate data, it will likely be difficult to tell if you’re really making profit or if your business is going to go down the drain.

 

Such reports can give you help with making important decisions like which store to spotlight in your promotions. You can also access them easily via the Internet no matter where you might be! Moreover, mobile monitoring of your respective KPI is now possible too.

 

These major benefits of an topnotch retail POS system are surely must-haves to your business if you would like not merely survive from the jungles of Singapore’s shopping districts and commercial centers, but actually help it become big. So definitely obtain a great retail POS that specifically matches the needs you have, provides the above-mentioned advantages, and turn into tailor-fit match your operations well and make you profit.

source http://businessachiever.net/2018/07/29/reasons-you-require-the-best-pos-to-your-retail-business/