We’re comfortable with all kinds of retail systems
You need some unique qualities to succeed in retail. Ambition and a mind for planning ahead are two of the most important. At MYOB we have helped all sorts of retailers do business better and grow bigger. Like Nood to name but one. That’s because we understand that with thousands upon thousands of transactions and increasing volumes of data, retailers need a robust Enterprise Resource Planning system that can handle what’s happening right now and have the potential to grow with the business.
New Objects of Desire (nood) sells furniture and homeware through 15 stores across New Zealand and a growing e-commerce website. It prides itself on offering a range of on-trend items, along with fantastic sales and offers for its customers. Loyalty member customers (“Noodists”) get even better deals on the four promotional “Noodist Days” that nood offers four times a year.
Complex budgeting and targeting
Nood has flourished by keeping a close eye on the performance of individual stores. Each store holds more than 7,000 units of stock at any time, with an equivalent amount stored in the company’s warehouse. Exo delivers live information about inventory levels and the revenue stream from POS terminals at all the stores, and from the webstore. Customisation carried out by Focus enables data from Exo to be uploaded into Excel.
"I can see at a glance how individual stores are performing."
One view of the truth
A daily sales report is generated from MYOB Exo into Excel and emailed across the company to show daily and month to date figures; then on Sunday another report is generated for the week and year to date.
Exo is central to nood’s warehouse operations as well. Stock item
definitions drive pick sheets for central warehouse, helping the team
to know what to pick first (to meet pickup times), and which freight
service to book different products on. The freight companies are
linked to the warehouse via EDI.
"Nood Days are one of our biggest days of the year. We have reports set up which are updating the metrics and other data every few minutes."
“Exo has given me a platform that integrates everything, which is key to our future growth.”
Nood orders well in advance for seasonal buying and can create pricing for sales at a very quick turnaround. The speed at which items can be on sale at specified times and dates is a major competitive advantage. The transparency of Exo, with a published database schema for most tables and the ability for authorised users to connect directly to view and update data, allow for quick updates and reporting with full trading history. “It’s easy for me to get data for any report I want to compile and the monthly report is all automated,” Blair says. “I have a 75-page monthly report that is generated in minutes.”
- Store performance monitoring essential
- Complex layby and pricing policies
- Very specific inventory and distribution needs
- Stringent reporting and budgeting requirements
- Stores get daily, weekly and annual progress reports
- Special deals all available in one database
- Warehouse is electronically managed
- Live reports available on the spot
Learn more about MYOB Advanced
Customisable, cloud-based business management platform.