There are many commonalities in the retail world. Most retail locations receive and display merchandise for the customers to purchase, open and close their stores, handle cash, clean the store and perform other such tasks day in and day out. ML Group provides streamlined, efficient and cost effective solutions for your company’s retail processes.
Implemented a Cash Lane Management System
- Reduced annual labor cost by $3.3 million.
- Reduced working capital by $900,000.
Implemented a hub network for local delivery
- Increased annual sales by $50.5 million
- Reduced shrink by 25%
- Designed and implemented systems that increased pick accuracy to 99.5%
Designed and implemented asset allocation system for store equipment
- Reduced annual store capital requirements by $1.1 million
What we can do for you
Many companies outsource their entire physical inventory process. Sometimes it makes sense to bring the process in-house. Our studies indicate, with the appropriate procedures, companies count their own inventory more accurately and less expensively than outside vendors. ML Group designs fully integrated physical inventory systems that are easy for employees to understand and easy for companies to manage. The process starts with providing tools needed to prepare for an inventory, and ends with backend reconciliation.
One of the most labor-intensive tasks performed by retailers is putting up stock. There are potential efficiencies to be found in the truck put-away process. Every hour of labor wasted during this process falls straight to the bottom line. Store managers may be forced to extend the time it takes to put stock up or sacrifice customer service to ensure product is placed on the shelves as quickly as possible. We perform a comprehensive analysis of your company’s current stocking process and make recommendations for improvement. This includes step-by-step procedures, equipment for material handling and optimal scheduling.
Maintaining accurate quantity-on-hand is critical in running a successful retail business. ML Group provides analytical support to access the impact of inaccurate quantity-on-hand levels. We also provide detailed sy
Impact on Sales
Sales are negatively impacted when inventory levels are inaccurate. Lack of accuracy causes outs, which lead to poor customer service.
Impact to Inventory
Inventory levels increase in a direct relationship to inaccurate quantities. Additional safety stock is required to offset the impact, which leads to excess merchandise and an increase in working capital.
Identifying the source of inaccurate quantities often leads to a reduction in internal shrink. The faster you identify quantity-on-hand problems, the faster you can correct them.
Customers simply can’t purchase items if they aren’t on the shelf. Often these products are elsewhere in the store collecting dust while potential customers walk out the door empty handed. ML Group can help. We offer a comprehensive plan to reduce lost sales and increase inventory turns by managing backstock more effectively for our clients. This includes a better understanding of what backstock your company has and why you have it. Having backstock isn’t bad, but not managing it is.
Loyalty programs can help companies differentiate themselves from the competition. Most customers expect great customer service; loyal customers demand it. ML Group offers a variety of system design solutions that meet a wide variety of retail settings. These range from simple loyalty programs to transaction level database systems that ensure smooth and efficient returns.
Cash handling and change processing can be one of the most inefficient processes in a retail store. ML Group can help your company implement proven processes and technologies to streamline this process and improve cashier and manager utilization rates.
ML Group can help your company evaluate, purchase and implement emerging technologies such as RF scanners, PDAs, kiosks and other retail systems. Appropriate technologies can improve worker productivity, improve the customer shopping experience, and reduce non-productive costs.
ML Group is dedicated to providing the tools you need to offer unrivaled customer service. We detail how many phones, phone lines, registers, etc. are needed at each location. Optimizing equipment capacity provides the ability to run lean operations without sacrificing your desired level of customer service.