Better Business Brunch: Smart Retail by Cameron Priest
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Cameron Priest, CEO of TradeGecko shares his insights on Retail.
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Better Business Brunch: Smart Retail by Cameron Priest
- 1. Smart Retail Using Technology to Increase Your Sales and Grow Your Profits
- 2. • New Zealander based in Singapore • TradeGecko is my 3rd company • Providing the power of Walmart’s supply-chain to SMEs • Faced similar problems in previous business • Thousands of users world-wide Cameron Priest
- 3. Why Invest in Retail Tech? Increase Sales and Cut Costs @newleafph #smartretail
- 4. Customer opens subsidiaries in 4 additional countries and increased sales by 600% A customer halves the quantity of stock on- hand by accurately managing forecasting A customer saved 3.5 Million pesos by reducing order processing staff from 4 to 1
- 5. Good Processes = Growth & Profit Real-time actionable insights Accurate stock-control Reduce stock obsolecence @newleafph #smartretail
- 6. A week of spreadsheets The Spreadsheet Cup 33 sheets 2 minutes just to open due to size 6 months free to the worst spreadsheet
- 8. The Better Alternative Cloud-based systems that offer you what you need at a fraction of the cost @newleafph #smartretail
- 9. Real-Time Snapshots of your inventory and sales allows you to view fastest & slowest selling products and take action, today. @newleafph #smartretail
- 10. Economic Order Quantities report enables you to purchase what you need, when you need it, reducing the cost of holding too much stock @newleafph #smartretail
- 11. HOW DO I WORK SMARTER? (How do I make more money?) @newleafph #smartretail
- 12. Top 5 KPIs to Optimize • Cost & Profitability of products and customers • Lead time of items and sell-through rates • Inventory turns • Total landed costs of items • Deliveries to time, cost & quality If you’d like to see actual research let me know after the talk @newleafph #smartretail
- 13. Others • Optimization of stock • Having the right goods at the right time • Having the data in a centralized database • Have a reporting engine that can provide actionable insights • Real-time sales & inventory data @newleafph #smartretail
- 14. Real-time supply chain software that tracks sales, purchasing, inventory, creates reports and gives actionable analytics to your business @newleafph #smartretail
- 16. Other Tools • Xero Accounting • Shopify E-commerce • Dropbox • Google Apps • PayrollHero @newleafph #smartretail
- 17. THANKS! Thank you! Try it out and I’m excited to hear your success stories. _____________________________ Contact us: Twitter: @TradeGecko Visit: tradegecko.com Email: info@nlv.com.ph
Hinweis der Redaktion
- 3rd companyThis came out of a problem of a previous enterprisem pesos save in a year
- What are the benefits, and why should you invest in retail technology?At a high level, having the right tools & processes in place will help you increase sales & cut costs.
- So all of these people are making money with technology, now I’m going to show you how you can make money with your business.
- So what do most SMEs use today, paper and spreadsheets. Massive, complicated and a little bit amazing spreadsheets.I just spent the past week here in the Philippines with the awesome New Leaf Ventures team, meeting dozens of different companies, and every. single. Business that we met with was using spreadsheets in some form to manage their inventory/sales/procurementWe actually have a competition in our office to find the worst spreadsheet, we print it out and stick it on the wall so that we have a constant reminder of the problem we’re trying to solve for our customers. The current winner has 33 tabs… I’ll give a 6 month free
- Ok, so maybe you invest in a multi-million SAP system – large tech, cutting edge, we’re talking months of implementation and training. Bloated, heavy systems.
- So what is the alternative,
- So what can you do with a good system?Well a simple example would be to get a real-time snapshot of your inventory, see what’s in stock, what's running out, hot sellers, slow sellers and take actions dependent on the data. Today most companies would get this data once a month, or even once a quarter, when it’s too late to really do something about it. You may of ran out of the product or have too much on hand of a product that you now have to heavily discount to move.
- A bit more of an advanced concept that will give you a lot of value is to run a report to calculate the economic order quantity of your products. This will allow you to accurately forecast what you need to buy, when and how much. When you adopt a cloud based system, report like this that use to take days or weeks to be run, if they were run at all – can be generated with just a click of the button.
- A bit more of an advanced concept that will give you a lot of value is to run a report to calculate the economic order quantity of your products. This will allow you to accurately forecast what you need to buy, when and how much. When you adopt a cloud based system, report like this that use to take days or weeks to be run, if they were run at all – can be generated with just a click of the button.
- So what else should you be looking at,
- So with the right processes in place, provided by world-class, affordable systems you can grow sales, reduce costs and focus your time on the important growth areas of your business. Make smarter choices in merchandise to earn more and save more segue to TradeGecko
- This is what we do with TradeGecko, what we’re doing for 100s of companies in over 60+ countries in the world and are now providing to CBTL.
- Amazing operations, grow in scale without hiring people. With TradeGecko you’ll never have to worry about stock control and you can make smarter choices (you know what to double down on, eliminate etc). Being cloud based you can also plug in other products to manage other systems within your business,
- Check the other stuff out: Xero, Shopigy etc.