www.kerridgecs.com
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Since we’ve implemented the Luckins K8 interface, we’ve seen an overall increase
in our margin of 5%. - Jamie Dawson, Bonus Electrical
K8 allowed the Bonus team to set minimum and maximum purchasing levels for the first time. “This means we’re no longer over-ordering stock and less likely to have to pay carriage charges on orders when we’re caught without standard stock on the shelf,” said Jamie.
The system also started delivering the business intelligence the management team so desperately needed. Jamie said, “Now, at any time during the month, we can look at what a customer has spent over the last month, week or day. We can break it down into product category and can spot patterns and trends that create questions for the sales team to answer. This has enabled us to change some customer rebates to exclude certain products and has helped tweak our margin.”
Bonus has recently upgraded their version of K8 to interface with Luckins. The interface works by Luckins loading their files into an FTP server for K8 to pick up. The Bonus team then imports the file, which updates their entire catalogue and products on stock in around 30 seconds. “Maintaining prices on the old system was a tedious process with every line having to be updated manually,” said Jamie. “Now if we need to bring new products into stock, we just provide the part number – it’s just up to us to add the discount.
Carl Dearing, left, and Jamie Dawson
Since implementing the Luckins interface, we’re currently focusing on repairing all the bad data we initially imported and there are tools within K8 that help us do this. To replace an incorrect part number, we simply enter the correct one and the system will find it in Luckins, transfer the new number to all stock in every branch, and update all product locations and related sales and purchase history - including all discounts. It takes around five seconds to do this for each part number. Using our old system this job would have taken me around two years to complete, with K8 I estimate it will take less than three months to update the 50,000 lines on our system.”
The Bonus management team believes K8 has delivered cost and time savings across every area of the business. They are discovering new functionality within the system as each month passes, such as the logical way it manages stock locations and how it stores and automatically updates customer pricing information. “Since we’ve implemented the Luckins K8 interface, we’ve seen an overall increase in our margin of 5%,” said Jamie. “Our turnover has grown from £3 to £10 million in just six years. K8 is supporting that growth because it’s helping us buy stock in the right quantities and analyse our sales activities like never before. Recently, it also helped us quickly pull together the data we needed for a major tender bid which would have been a horrendous job using the old system. At Bonus, our management team’s job is to constantly ask questions about what we’re doing and how we can do it better. This system has facilitated that massively.”
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