By Kenneth Ng
In the first two weeks of the course, we have done our data collection and analysis. In the third week of the course, we will be suggesting some improvements as well as prepare for implementations.
Via talking to the store manager Ruthcelyn in the first two weeks, we have an idea on how the store is operating and the problems it faces. As Ruthcelyn is only the manager and operator of the store, she doesn’t have the authority to make big changes like the changing suppliers or the prices of the products, we will provide easy to execute and superficial solutions.
The store’s goal is to sustain and generate a revenue. When we asked if there is a big store migrating into the market, what would she do. She said she don’t know. Therefore, we think that we should let her understand her store more so that she could devise a plan if there is an economic shock or a large competitor coming in. Our first suggestion for her is to have an accounting system.
By implementing and running the accounting system, she would be familiar with the daily operations and transactions, expenses, as well as knowing which product generate the most and the least revenue. Hence, it would allow her to direct or suggest plans to reform the products, allowing the store to generate more revenue by increasing competitiveness, and even open up an opportunity for expansion.
The market is highly saturated. Despite the high flow of people in the market, yet there are too many stores selling the same types of commodity and products. The whole second floor of the market sells wearables and other accessories. And on the first floor, there are a total of 23 stores selling rice grains or feeds for livestock. The products are very similar. The same feed could be sold at 10 separate stores, so the high overlapping of product is a problem in the market.
Although the products in our client’s store overlap with a lot of stores, we have some unique products and brands. For example, Greenhills feeds, as well as ABC rice and Pearl rice is unique to the store. As our store is close to the front entrance of the market, advertising could benefit the store if we feature its unique products. By tagging the products with “quality” or “low price”, it could attract customers.
Moreover, via tidying up the product arrangements, it could also make the store look more convincing and attractive. The placement of products is now messy, only placing it in accordance to its height. Yet, if we arrange them in accordance with its brand as well as its height, its look would be much nicer. By looking nicer than other stores, it could increase its attractiveness to customers, as the price of the products are the same throughout the market for the feeds, and only a little variation in the price for rice grains.
In a long run, after having an accounting system implemented, Ruthcelyn could introduce new commodities into the product list, and see if it is more lucrative or not. The store could be more adaptive to changes in market.
Ruthcelyn now keeps receipts after we convinced her that keeping record of her business is a good idea. We just need to provide her with an easy system, so she could make use of the receipts and see trends in sales. I can see that she cares about her business very much. By making use of our education in the university, we could make other’s life easier and happier.
The past three weeks was fun and inspiring. I would say I have a really good roommate and project partner. My host family is the best because they treat me well. The food was nice, and I love the bamboo shack where me and Kumar sleeps at night. Although there were no hot showers, but the whole living environment is still very nice!
What I love for these kinds of trips, is the people I meet. I met some really good people in the trip, either from our class or from the local community. I especially want to thank my host family for taking care of me for so long. It must take lots of efforts as our living schedule is so different. I know they delay their sleeping schedule for us, as I heard that other families sleep at nine. But my host family they would sleep at eleven if I was with them.
I would say that the children I meet in my host family and from host’s relative’s family, are very intelligent. They learnt so much and think maturely with such limited resources. I recognize what our visits means to them as they could learn more about the world, and have a wider vision. Therefore, I love to share my view with them, and have some good conversations with my family (we even talked about my crush). They are true people. I feel no pressure when I was with them and I think it is the reason. Their personality allows me to open up my feelings and thoughts to them, and as an ambivert, it is something hard.
Gosh I would miss my host family so much after I leave Philippine. And the beautiful sceneries as well.