FINS Strategy and Implementation in a Few Steps

    Most of our customers choose to implement FINS using the following strategy:

Months 1 to 6: Supply chain audit and initial implementation

  • Past sales & Products performance review
  • Standardization when possible, of components
  • Logistics process full review
  • End of Month 5: typically is the launch of the FINS platform

Months 6 to 12: Leaning of inventory and drastic cash-flow improvements

The goal here is mostly FINANCIAL, helping FINS customers to improve their cash flow dramatically by:

  • Reducing overall inventory of complete watches from existing level to as low as one months of sales volume in stock
  • Eliminating non-turning inventory
  • Using FINS to reorder only the products which are selling
  • Therefore, after 6 months the inventory is dramatically reduced, while efficiency and quality control are increased.

Months 12 to 18: Cash flow optimization

  • The goal during this time is to improve the sales turnover while ALSO improving cash flow by:
  • Creating domestic merchandising collections per country or per retailer to match their demand. This can immediately grow sales by 10-15% without adding any costs
  • Maintaining customer inventory level at one month’s stock, BUT reducing the overall amount of watches by directly allocating third-party distributors to dropship directly from China (Or Switzerland) – as FINS customers usually continue dropshipping for their own country, but use direct dropshipping for any others geographical zones, specifically China)

After 18 Months: Second stage optimization

Improving sales figures by:

  • Adding limited editions or exclusive collections per distribution network, countries, or retailers
  • Opening or revisiting new segments of distribution due to the change in the value chain – at this point, managing distributors becomes much easier

 

Ready to see how FINS can help grow your Watch Business? Register to try out our fully functional online live demo to see exactly what you get with our manufacturing software solution for the watch industry!

SEE FINS IN ACTION