Tag Archive management

3 Easy Ways to Manage Your Flea Market or Trade Show

Charlene Phua No Comments


Flea markets and trade shows are the golden opportunity for your business to unload some of the extra merchandise that would otherwise be collecting dust in your warehouse. This is also the time for you to spread brand awareness, showcase your latest products and services, and expand your customer base. With so much time and effort put into these events, you would want your employees to focus on making the sale and better serving your customers, without worrying about the frustrations of back-end operations. As such, we have come up with 3 solutions for you.


1. Managing Inventory in Real-time

Given the often disorganized and noisy environment at these events, your employees may be unable to manually track the movement of inventory. A lack of access to real-time inventory information may make it difficult for your employees to keep track of sales, monitor consumption rates and to place timely orders.

Adopting an inventory management system allows you to track inventories at your booth, as well as both physical and online retail stores. It also prompts your suppliers whenever your inventory is running low, and enables you and your employees to focus on serving your customers without worrying about whether or not you have enough stock to make the sale.


2. Maximizing Space

Booths at these events are typically small and expensive. Collecting cash payment and recording sales with a traditional POS system seemed to be the most popular method among retailers. However, these bulky systems tend to occupy too much space at your booth.

By adopting newer systems where transactions are done via a tablet or phone, you will be able to display a wider range of your products, reduce task and man hour redundancy.


3. Expanding your Payment Options

A new Bankrate survey found that 2 out of 5 consumers carry less than $20 in cash on a daily basis. If cash remains the only payment method accepted by your business, you may be discouraging potential buyers who may not have enough cash on-hand to make the purchases they wish to buy.

As cashless transactions become increasingly popular,it is important for businesses to introduce card payments to broaden their customer base and provide for greater spending power among their consumers. Card payments are also fast and hassle-free.

By migrating to a cloud based management system, managing your business processes such as inventory management, retail transactions, accounting, and manpower management will be easily accessible at your fingertips. By minimizing the manual processes you business has to deal with, you will be able to better focus on increasing sales and meeting the needs of your customers in the most timely way possible.

3 Pitfalls in the Beauty and Wellness Industry

Charlene Phua No Comments


The Beauty and Wellness industry in Singapore has been fast growing, with now more than 18,000 businesses operating on the island In the face of this growth in competition, it is increasingly important for business operators to streamline their operations, capitalize on their strengths, and minimize their weaknesses, lest their business does not survive. Here are a few common pitfalls of businesses in the Beauty and Wellness industry:

1. Inability to Detect Fraudulent Activities 


According to the KPMG-SMU Singapore Fraud Survey, 58% of fraud is committed by employees. A common fraudulent practice involves a dishonest employee collecting cash payment without recording the sales. Given the effort to sit through hours of footage, unsuspecting managers typically would not go through the CCTV until under-reporting becomes serious enough to warrant suspicion.

2. Failure to Maintain Ample Consumables


Inventory Management is often overlooked in most spa and salon businesses. Without real time access to information, it will be impossible for employees or managers to keep track of their purchases, monitor the consumption rates and to place timely orders. It is also time consuming for employees to monitor the inventory, especially if there is a wide variety of products that can be used and is only needed in smaller quantities.

3. Poorly Managed Appointment Booking and Tracking


Booking an appointment is an often overlooked process that can be very taxing on both employees and their customers, especially in event of a conflict in schedules, or when the desired therapists are not available. Many companies are also still using physical documentation (i.e. the traditional pen and paper appointment cards) for their appointment tracking, which could be misplaced. For busier operators, the papers tend to pile up, which can be very messy, illegible and time consuming.  Furthermore, overbooking for a particular timeslot may arise when businesses accept bookings from multiple sources such as telephone booking and their website.

To effectively address these issues, businesses may need to look at more targeted solutions that can help manage their business processes. While some solutions may offer more features and add-ons than others, businesses should seek solution providers that can better tailor solutions to their needs. With a fitting solution, business owners will then be able to focus on serving their customers better.