How To Increase Profits In Your Hypermarket

Hypermarkets possess a diverse range of assets. And all of them are vulnerable to deterioration over time. In turn, it attracts more expenses and affects savings. In order to increase your hypermarket’s revenue, you will need to ensure that your assets are well taken care of. 

 

Spreadsheet software and paper-based tools are asset management tools of the past. They have several shortcomings. For today’s hypermarket requirements, the best asset management solution is to use a dedicated software solution.

 

In this article, we discuss how you can increase profits in your hypermarket using an asset management system.

Centralized control

It is important to manage hypermarket assets in a streamlined manner. Focusing on each of them individually and ignoring the rest leads to several repercussions. 

 

Hypermarket asset management software solutions provide a complete overview of all your assets. They display:

 

 

  • The number of assets your hypermarket has.
  • Fast approaching asset expiry dates.
  • The total value of assets.
  • The number of asset categories and more.

 

 

You can view all of this information via the dashboard. It helps you get an overall picture of how your hypermarket is performing. It also allows you to troubleshoot issues with a broad perspective.

Inventory tracking

Your hypermarket’s inventory must always have a sufficient stock of consumer goods. In addition to that, you must also know what equipment you have in your possession. Tracking such assets can be overwhelming. When it is done manually, it is immensely time-consuming. But that is not the case with a hypermarket asset tracking software solution.

 

Asset management solutions are compatible with tracking technologies like barcode scanners, GPS, RFID, and NFC technologies. Using them, you can easily and accurately assess what is available in your inventory. And as you sell each item, the software automatically updates the numbers in the inventory. This enables you to fully utilize existing resources and view inventory stocks in real-time.

 

Asset maintenance

Hypermarkets have a wide range of machine and equipment assets. They include refrigerators, lighting fixtures, computers, and printers. These resources require maintenance. Otherwise, they will deteriorate fast and accrue high repair costs. The best way to set up a maintenance schedule for them is to use an inventory tracking system for hypermarkets.

 

With the tracking system, you can specify:

 

 

  • What maintenance is to be done for which assets.
  • How frequently maintenance should be performed. 
  • Who is responsible for the maintenance and more.

 

 

The maintenance tasks you create are underpinned by notifications and alerts. So whenever a service is fast approaching, you will receive in-app and SMS notifications. Furthermore, the software logs every maintenance task. 

Employee management

Employees are a vital resource for the smooth functioning of a hypermarket. Being understaffed at any given point in time can affect business continuity. Even worse, it can take a toll on customer satisfaction. Beyond ensuring adequate staffing, you will also have to supervise employees and encourage best performers.

 

Asset management software for hypermarkets makes managing employees a simple task. It gives you comprehensive tools to:

 

 

  • Manage employee leaves.
  • Record employee activities such as the time of entry and exit from the store.
  • Regulate shift hours.

 

 

This way your customers will have a satisfactory shopping experience at your hypermarket.

Reports & analytics

Asset management doesn’t only involve tracking and maintaining resources. It also involves using the data gathered in those processes. By consolidating and analyzing asset-related data such as expenses, expiry dates, and maintenance routines, you can gain meaningful asset insights. 

 

Hypermarket asset tracking software solutions perform this automatically. They scan through the data stored in their database and produce visually appealing and informative reports. They reveal insights on:

 

 

  • Assets that are used the most.
  • Assets that incur the most expenses.
  • Assets that are underutilized.
  • What assets can be disposed of and more.

 

 

On learning these insights, you can optimize your asset management strategy for:

 

  • Enhanced operational efficiency.
  • Increased returns on investment.
  • Longer asset lifespans.
  • Minimized expenses.

 

Summing up

The efficiency of your hypermarket operations depends on the condition of your assets. Improper asset management stifles business continuity. On the bright side, you can’t go wrong with hypermarket asset management software. If you’re looking for an easy-to-use, feature-rich, and powerful hypermarket asset tracking system, then I highly recommend SmartAMS. Visit their website to know more.