Routing The Challenges in Singapore’s FMCG Industry Through POS Solutions

Being the dynamic marketplace, Singapore has fast-moving consumer goods (FMCG) industry battling with a set of the complex challenges. As the necessary component in the economy that drives consumption, FMCG deals with mass-produced durable goods that need to be sold quickly and restocked all the time. The sector is dealing with some specific issues, the majority of them related to engineering of products and services, that it is necessary to have these goods and these issues are now to be handled by these firms, e.g., POS, RFID, or any adaptive technological solution.

FMCG’s Unique and Shared Challenges in Singapore

Besides, the FMCG sector is the one that Singapore has to face most outstanding challenges at its own din. The integrated complex distribution channels across the island pose a major challenge, which needs to be carefully coordinated, considering the urban sprawl and multicultural population. Besides, the restriction on validity of the items requires a quick and efficient supply chain to reduce wastage as compared to other non-FMCG sectors. Quite a few, however, are the ways in which firms can shin bigger and better in this highly competitive market, including promoting creativity and continuous engagement of the customers with the products.

Hardly less is what the FMCG sector has in common with the other industries in Singapore. Technological innovations are being released rapidly not only by FMCG firms but by others too, which hence have to learn and grow with the introduction of new digital tools and software. Furthermore, environmental concerns have always been a big issue across industries, thus the need for green practices in business is urged beyond the traditional ones that have been followed.

Utilizing POS Systems to Address Industry Gridlocks

Of course, the point-of-sales system is undoubtedly an essential tool that can contribute significantly to the process of tackling the industry’s major obstacles. For FMCG firms, POS is the system which gives them the possibility of managing the inventories of fast-moving consumer goods almost in real time, a feature that is crucial for the high turnover and replenishment rates of FMCG. It’s a matter of fact that by adding a POS, a retailer can achieve a perfect balance between supply and demand, therefore, eliminating overstock and stockouts respectively.

In addition, POS systems furnish crucial customer data, which in return assists retailers in devising individualized marketing plans that will in turn enhance customer relations and loyalty. Tracking a patron’s buying habits and preferences, a retailer is then able to adjust promotions in a way that is suitable for their customers. Furthermore, the POS systems work together to facilitate operations, as they integrate with e-commerce platforms to ensure a smooth online and offline shopping experience for modern digital consumers.

Practical Aspects of SUSS POS Deployment

A careful pre-implementation plan makes the key point of POS system deployment. Although, businesses must first decide on their individual needs before the features of the POS can be sunken down to the operational goals that the firm set. Thorough training programs must be conducted, as the staff members are to be made familiar with all the system functions. The system must be regularly checked after implementation to ensure that it is being set to the right adjustments according to the retail market changes. Thus, the system will continue to deliver their pre-set targets plus value consistently.

Multiable’s aiM18 POS System Features

The aiM18 POS system from Multiable fits uniquely the FMCG challenges residing in Singapore:

• Chain Store Management: Allows for centralized management of multiple locations, optimization of inventory and processes throughout the network.

• Real-time Integration: Makes possible the smooth and effortless syncing of e-Commerce, ERP, and POS systems, which is the key to the consistent data flow and finally, smooth process operations.

• Promotion Management: Provides the opportunity for promotion customization across different channels, thus improving customer engagement and sales.

• Membership Management: Includes comprehensive membership systems with advanced loyalty programs thereby assisting firms in competitive markets keeping their customer base intact.

• Automatic LSP Selection: Applies AI for driving out logistic processes’ complexities through supply chain efficiency and their reliability boost.

Retailing Renaissance with Multiable ERP Integration

With the capabilities of Multiable ERP the retail space is being transformed. Not only is it a certified software vendor as per the approval granted by IRAS, but also, it eCommerce fully integrates with top platforms like Shopify, Amazon, and Lazada allowing retailers to both run their online and offline operations perfectly. Notably, this connection is very much needed by the firms making efforts to elevate their presence on multiple technological markets in a dynamically developing industry.

What is Multiable POS ?

Multiable POS is a cloud-native POS targeting retail groups with sizable chain stores in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable POS gains positive feedbacks from public companies and multinationals across different sectiros, from cosmetics, furniture, fashion, healthcare, pharmaceutics, sportswear and toys etc. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an ERP system in place.