Menarys

MENARYS DEPARTMENT STORE INCREASES PROFIT

HOW BUSINESS INTELLIGENCE TOOLS IMPROVED PROFIT MARGINS BY UP TO 9.8%, OVERALL BY 4%

Northern Irish department store chain Menarys has increased overall profitability since it started using Futura's business intelligence tools.

Menarys' management uses Futura's performance management and analytical tools to 'model' future sales, costs, cash and inventories and suggest business strategies to the management to maximise profits.

ACCURATE SHOP FLOOR DATA

Buyers and managers can see, in real time, current stock levels, product performance and profitability. By comparing sales with previous years', buyers can establish when sales patterns are different to determine real price elasticity, so stock can be priced right and mid season promotions and offers can be changed - overnight if necessary!

MERCHANDISE PLANNING

Menarys uses the integrated merchandise planning function to consolidate ranges in the most appropriate stores. Buyers can interrogate the system by any cut of any product, to determine future buying. Automatic suggestions of stock transfers occur before auto- replenishment or auto-reordering is considered to minimise inventory. Managers now run recommended reordering reports 3 times a day when busy and undertake live daily replenishments.

INCREASING EMPLOYEE EFFICIENCY - REDUCING THE WAGE PACKET

Managers use the system to analyse half-hourly sales activity, per store, to ensure correct staffing levels and ideal opening hours. This level of control greatly boosts the efficiency of the organisation, despite a reduction in staffing numbers of 2%.

Slicker, accurate point of sale systems allow Menarys to redeploy staff from fire-fighting and problem/order chasing, to improving the customer experience, again a proven way of increasing sales.

“We settled on Futura because we liked the level of individual service and attention that the company could provide us” Iain Gilespie, Financial Director, Menarys

Background to customer/ customer History

Leading Northern Ireland Department store chain Menarys was founded in 1923 and has 18 stores and employs over 1000 staff.