Comprehensive Retail Management
Videocom Technology (H.K.) Limited, the famous computer components retailer, has founded 14 chain stores, 5 warehouses, maintenance centres and other offices at different locations in Hong Kong like Shum Shui Po, Mong Kok, Yuen Long, Sheung Shui and Wan Chai. Implementing the comprehensive retail management system, Mega-Retail™, Videocom can stably and successfully monitor its entire value chain, from shops, inventory, purchase to accounts, in total more than 20 locations.
With the challenges from the inevitable progression of technology and short product life cycle, Videocom is encountering the keen competitions. To have evident breakthrough, sustainable enhancement values and specific functionality of the business systems are needed for its future development.
For managerial class, some instant and analytical data is beneficial for references like the gross profit of a single product or an individual chain store, which help checking the revenue or deficit of a single product at once so as to come up with forthcoming the business strategies.
To catch up to the fluctuant market changes, retailers must establish its responsive and flexible supply chain. Adjusting the price and cost promptly and consistently is required to launch the business plans and help retailers grasp golden chances to boost the profitability.
Controlling the inventory
Inventory management is exclusively important for engaging the retail business. Videocom needs real-time access to the data and traces the transactions of every single stock to monitor the stock values of individual chain store, storage of a particular kind of goods so as to reduce the amount of excess stocks or accumulated stocks.
Acquiring the comprehensive retail management solutions, Videocom can effectively supervise all the chain stores and beneficially plan for its business development in the long run.
Mega-Retail™, the internet-based system, supports real time access data through the PCCW Mega-Link VPN that avoids awaiting the obsolete data after one-day time. The broadband is exclusively for Videocom that can ensure the speed, the stability, efficiency and flexibility of every aspect of its entire chain.
” … Videocom believes its ongoing success is the result of Create Tech’s long-standing commitment that Create Tech does not just perform as a software vendor but as a companion with the strong devotion to its success.”
“Stock Pool” Function
“Stock Pool” Function manages to keep on track of every stock movement accurately, from stock in to stock out, goods return, stock availability and its location. The function improves the stock security. Once a product is delivered to a shop, the IMEI and serial number must be recorded and automatically added to the inventory. Since then, its movements will be kept tracked.
Stability & Support
Communication and data synchronization among the shops and back-offices are crucial to daily operations. The network stability facilitates the smooth and efficient operation, which ensures time is fully utilized on processing transactions. The backup system supports with the business continuity and the disaster recovery. In case of any breakdowns, the backup system synchronizes with the business operations and maintains the smooth running.
With the support of real time access data through the PCCW Mega-Link, the managerial class can view the data anytime and make decisions instantly. The enhancement tackles the time-consuming operation, which avoids awaiting the obsolete data from the chain stores to the back-offices after one-day time. The real-time is readily available to the account department checking the total stock value and total gross profits every day.
Lowering the stock values
The system can identify the serial numbers of every single product to control the inventory thoroughly. Videocom has remarkably minimized half of the stock values and shortened the frozen period of accumulating stocks. Warehouse space can be better utilized. Successfully controlling the stock values is influential for its business development to keep pace with the latest trends so as to master product lifecycles and boost greater profitability.
As all the procedures are centralized under the system, the accuracy of inventory is ensured. In the light of this, Mega-Retail™ can monitor the operation of more than 20 shops and warehouses and process RMA cross all the chain stores by recording every transfer in or out of the stocks accurately. Staff working at shops can check the purchase date and location and allow clients to pick up the goods at any locations without messing up the inventory.
The reporting tools provide analytical data like gross profit of a single product and details of accumulated stocks etc., which helps with forecasting sales, planning for stock allocation, replenishment and ways to deal with the excess stocks at once. These generate measurable benefits in cost, revenue and strategies for Videocom.
With an emphasis on ease-of-use, a sales transaction is normally completed in 10 seconds. Furthermore, the system consolidates both sales, sales return, and goods exchange to further quicken the selling process and hence customer service quality. The whole sales procedures are optimised.
Thanks to Mega-Retail™, Videocom receives measurable improvements in efficiency and inventory control. With the complete view of retail business, Videocom successfully manage its business, launches its strategic plans and boost its sales remarkably. Videocom believes its ongoing success is the result of Create Tech’s long-standing commitment that Create Tech does not just perform as a software vendor but as a companion with the strong devotion to its success.