Sterling Homestore - Maximising margins and achieving 50% stock reduction for one of Europe’s largest independent homewares retailers
One of Europe’s largest independent furniture retailers, Sterling Furniture, prides itself on its commitment to total customer satisfaction and the very best range of quality lifestyle choices in store, or online, anywhere in the UK.
With its 35 year heritage, a massive 250,000 sq foot flagship store in Tillicoultry, seven additional retail outlets and an impressive transactional website, a robust EPOS software solution was essential to support staff at the till, who provide expert and impartial customer advice, while providing sound management information to underpin decision making. Sterling Homestore has been working with Futura since its first implementation in 2001. As a dynamic solution they have been able to use system functionality as required to support the changing needs of the business as it has grown and moved online. Focusing on the Lifestyle Department, the management team used information given by Futura to analyse performance by type to identify the source of the overstock.
They then took markdown action in the Summer Sale to clear excess stock and consequently established a seasonal buying plan for the buyer based on stock turn and through these activities achieved a 50% stock reduction. To ensure there was no impact on sales, the buyer tightened the ranges and reduced the number of suppliers used, then maximised sales by setting up an ordering schedule to regularly review the sales/stock position using the Recommended Reorder Report to replenish &/or transfer stock between the Stores. “Because Futura is a dynamic system we are able to use the functionality as required to support the changing needs of the business. As our platform of choice it’s our intention to continue to automate as much as we can on Futura so that we are only left with managing the exceptions”, Patricia Brown, Senior Merchandiser added.
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