Annual Sales in Bakery Department Grew +20% with Improved Margins since Implementing Fresh Market Manager
PARK CITY, Utah–(BUSINESS WIRE)–Park City Group, Inc. (OTCBB:PCYG), developer and marketer of patented computer software and consulting services designed to enable its retail customers to increase sales while reducing inventory and labor costs, today announced that as a result of its customer experiencing ongoing and substantial increases in both sales and profits, a leading international supermarket retailer is expanding its license agreement with Park City Group for its Fresh Market Manager (FMM) product in an Asian-based 70+ store subsidiary with annual sales of over $2 billion.
Fresh Market Manager is a fully integrated management solution that helps grocers to achieve improved economic performance in bakery, deli, food service, meat, seafood, frozen, floral and produce departments. The product is licensed on a per-department and per-store-basis. This new agreement will generate revenues of approximately $200,000+ to Park City Group.
Park City Group successfully identified to the retailer exactly where and how it could positively impact both sales and the bottom line. Among other benefits, Park City Group precisely identified where and when product waste occurred, implemented FMM Production Planning, optimized store-level assortment plans, managed shrink and out-of-stocks, and retrained stores on production standards. During the first year of the program in Bakery, average annual sales of produced items were up over 20% while unsold product (shrink) significantly declined, resulting in a substantial increase in net margins.
Randall K. Fields, Chairman and CEO, said that, “The increased deployment of our Fresh Market Manager by this top-tier retailer is the most recent validation of the value of our fresh item management solution. This retailer has experienced first hand the rapid cost savings/revenue generating benefits of our program and is increasing the number of stores in its chain to use the product. As our software and consulting services continue to deliver on the promise to help all of our retail customers to deliver the ‘right product in the right quantity at the right time’, we look forward to continuing to expand the depth of our Fresh Market Manager program, and to also exploring how our other solutions and products can benefit this retailer.”
“Market trends are driving demand for our products as supermarkets and convenience stores have difficulty competing in commoditized products,” Fields continued. “As a result, they increasingly shift the emphasis to perishables – which have a significantly shorter shelf life – thus creating an increasing requirement to manage those products. The unique combination of software and consulting services provided by Park City Group bridges the human and technical resource gap and converts data into effective operational actions for the retailer. We have a growing track record of delivering dramatic and tangible results to our clients.”