- Location: Laredo and Zapata, Texas
- Industry: Hardware and Home Center
- Number of Stores: 3
- Web site: www.drikes.com
"Mobile Manager shifted power from vendors to us, which is invaluable. We will never go to a market again without Mobile Manager on our iPads."
Carolyn Epstein, CFO | Dr. Ike's Home Center
Increase sales and profits with easy-to-access information
Dr. Ike's Home Center is a family owned business serving two communities for more than 80 years. They now have three locations and some 130 employees. In 2008 Carolyn Epstein joined her husband in the business with the goal to choose and implement a new computer system to help take the business to the next level. Since implementing Epicor Eagle more than three years ago, sales are up 10% annually, gross margin has increased from 28% to 35%, inventory shrink decreased from 4% to less than 1%, and X items are down 25%. In the company's quest to continually improve, Dr. Ike's recently implemented new modules to help further improve the bottom line. "We have used Business Advisor reports and other Eagle reports to guide decisions, but we knew there was more we could and should be doing with the data captured in our Eagle system," reflects Carolyn Epstein, CFO, Dr. Ike's Home Center.
Identifying opportunities for Improvement and profit
Using this new module, the Dr. Ike's management team is able to spend more time on the sales floor and less time in the back office. "With Epicor Performance Manager, we see critical information minute-by-minute, identify the exceptions, and then make immediate improvements. We correct margin errors, move product between stores and increase or decrease orders, all because we so easily spot opportunities with Performance Manager. Each of our top managers uses Performance Manager to view different data and see trends," describes Carolyn.
"On a daily basis we review sales and comparisons to prior time periods, the top 100 items sold the previous day or month, and analyze performance by department. We also look at margins constantly and adjust pricing to either move products or make more money."
One Performance Manager analytical tool that provides Dr. Ike's with "aha" insights is the Market Basket. "We really appreciate Market Basket and its ability to identify items that have historically sold together so that we can increase sales and margins. The results are often surprising," continues Carolyn. "We recently looked at what to merchandise with drop cloths and based on Market Basket analysis, we created an end-cap display with drop clothes along with joint compound and high-end paint brushes. Sales over the weekend increased by 5% for all items displayed."
Effectively managing the business from anywhere
Another tool that Dr. Ike's now finds indispensible is Epicor Mobile Manager, which is an application for smartphones and tablets. "Mobile Manager frees me to run the business when I'm not in the store, which I admit is a blessing and a curse, but mostly a great blessing. Whether I'm at lunch, on vacation, or at a market, I can view data and can deliver immediate answers as they are needed. It's an empowering solution," explains Carolyn.
Last summer, Carolyn was on vacation, when she got an alert that air conditioners were selling like crazy in one store. She called her purchasing department and transferred 10 units from another store to that store and sold all 10. "I was at a football game in Dallas, when I received a phone call from the store explaining that a good customer wanted to purchase supplies for an emergency roof repair, but he was over his credit limit. From my phone, I did a credit override and saved a $3800 sale. This tool literally makes money," explains Carolyn.
Dr. Ike's benefits by using Mobile Manager at Handy Hardware and True Value Markets. "We use Mobile Manager to research sales, costs, and margins to make vendor meetings more productive. On the market floor, we can look up the data we need to make the best buying decisions for our stores and negotiate better deals. Mobile Manager shifted power from vendors to us, which is invaluable. We will never go to a market again without Mobile Manager on our iPads," concludes Carolyn.
Epicor Software Corporation is a global leader delivering business software solutions to the manufacturing, distribution, retail, and service industries. With more than 40 years of experience, Epicor has more than 20,000 customers in over 150 countries. Epicor solutions enable companies to drive increased efficiency and improve profitability. With a history of innovation, industry expertise and passion for excellence, Epicor inspires customers to build lasting competitive advantage. Epicor provides the single point of accountability that local, regional, and global businesses demand. For more information, visit www.epicor.com.