In the 90s and early 2000s, businesses faced the problem of insufficient solutions.
In contrast today, we are facing a very different problem - too many solutions.
Softwares, tools, and platforms are abound everywhere we look. For one, they’re either extremely specialised, or promise to serve as an “all-in-one solution”.
Which platforms are worth it, and which do businesses really need?
In Chapter 10 of New Retail + New Platform, we explore Senheng’s top 12 management platforms which have been integral in helping Senheng improve its performance.
- Net Promoter Score (NPS) Management Platform
- Auto-Replenishment Platform
- Business-to-Business (B2B) Platform
- E-Product List Platform
- Product Information Management (PIM) Platform
- Unified Price Tag Management Portal Platform
- Service Portal Platform
- E-Market Price Survey Portal Platform
- Operation Performance Portal Platform
- Trade-in Portal Platform
- Warehouse Management System (WMS) Platform
- Central Distribution Management (CDM) Platform
The NPS Platform tracks word-of-mouth among Senheng’s customers. Through this system, customers interact with the company via the Senheng app after each purchase. Surveys help Senheng track which purchases are made as a result of recommendations.
Thanks to this system, Senheng managed to collect key insights such as:
- more than 16,000 customers obtained recommendation through word-of-mouth from family and friends
- additional warranty, attractive promotions and ‘good customer service are the top three reasons for recommendation
- Most first-time purchasers know about Senheng from word of mouth
Inventory is one area which greatly benefits from using the right platforms. Senheng’s auto-replenishment platform ensures sufficient stock at headquarters and warehouses to fill the daily needs of all branches.
This system divides products and models into four groups, namely:
Fast Moving - items which contribute 90 percent of sales
Slow Moving – items which contribute 10 percent of sales
Long Tail – only minimal quantities sold
Zero Moving – zero sales in the past ten days
Senheng’s paperless B2B platform simplifies the ordering process between the company and its business partners. To give you a better idea, among the system’s abilities include sending purchase orders to suppliers on a daily basis for delivery according to the orders sent.
As a whole, it replaces the inefficient manual system to one that is done paperless, and with seamless tracking mechanisms to eliminate misplacement, loss and damage.
E-Product List stands for electronic product listing. This platform allows suppliers to upload new product information and details (product name, model, code etc.) directly to the company’s purchasing team for selection and review before issuing PO.
This greatly simplifies the purchasing process - for both Senheng and their suppliers.
As a retailer (especially one of Senheng’s scale), managing your products can be tough. Prices change, and promotions are constantly happening. Senheng’s PIM Platform is a centralised and automated system which automatically updates the information onto the e-commerce platforms.
This system was internally designed to standardise the price tag format across all outlets and products. With so many promotions happening at once, this system ensures that the brand image is standardised both online and offline.
At Senheng, after-sales service is just as important as pre-sales. The Service Portal Platform helps monitor customers’ repair orders, making it easier to track, check and follow up on the latest status of product maintenance. Thanks to this, staff are able to take immediate action - and customers leave happier than they were before.
This platform solves one of the most important questions that retailers face day in and day out: Are my products priced correctly compared to the current market rate?
The E-Market Price Survey Portal uses artificial intelligence to monitor current product prices across all relevant markets and analyses the latest price trends. Any poorly priced products can then be quickly identified and sent for immediate repricing.
This platform will be of particular interest to regional managers. After all, it’s designed with them in mind.
The Operation Performance Portal Platform served as a performance evaluation system
that allows regional managers to monitor the performance of each branch. Likewise, regional performance can also be monitored by the headquarters via this platform.
With the data gleaned from this system, the business is able to determine changes and new directions based on the results provided to ultimately improve operational efficiency.
Unlike many retailers, Senheng provides a trade-in service where customers can bring in their old devices that are in good condition to be offered as trade-in by Senheng. In general, trade-in services is prone to have problems such as inaccurate quotations, often times due to inaccurate description of product condition.
The trade-in portal specifically helps the company reduce overestimation by providing monthly trade-in prices and requesting product images before a price estimation is given to the customers.
WMS platforms are key to daily operational efficiency. When suppliers enter their delivery order into the B2B system, the system immediately updates the details of the delivery. After receiving the delivery information, the warehouses are able to arrange manpower efficiently and accurately.
Another key platform within the logistics department is the CDM platform. Since 2018, this platform has helped the company with fast and accurate product deliveries, ensuring all goods are fulfilled automatically and at the most efficient stock level possible.
Thanks to the CDM platform, goods are delivered to eleven regional logistics centres across the country within a specific time window, while regional logistics centres are able to arrange for swift delivery to branches.