The toys industry in Penang, Malaysia, grapples with a complex mix of challenges that are unique to the industry and quite different from other sectors. Toy manufacturers, who are constantly under pressure to come up with new innovations after a prolonged period of COVID-19, find it hard to maneuver due to the fast-changing trends in consumer preferences primarily brought about by technological advancements. To top it off, the issue of safety regulations is another major challenge that is faced by the toy industry, as these regulations are always in a state of flux, thus a compliance requirement at all stages of the manufacturing process. Additionally, the seasonality of toy sales is yet another special challenge that the industry has to deal with, as, during the holiday seasons, sales peak, pushing the off-season sales strategies to the side. Nevertheless, issues shared with other enterprises such as disruptions in supply chains and increased operational overheads that further pressurize retailers to make profits in a weak economy are also on the table.

The Practical Role of POS Systems in Overcoming Industry Challenges

POS systems provide practical solutions to numerous problems faced by toy retailers in Penang Malaysia. To begin with, the point-of-sales system is structured in such a way that stock of toy retailers is greatly reduced according to the statistics during the sale of toys at specific times throughout the year. Furthermore, with their capabilities of recording and tracking sales, the retailers can detect the product lines that consumers are buying more of, helping them to make accurate forecasts of product trends in the future.

Incorporation of a POS System, aside from being modern, it also helps the compliance process through automating datacapture and reporting, so the adherence to safety regulations occurs with minimal intervention of human. Also, the possibility of integrating it with the e-commerce platforms enables retailers to be more flexible in meeting their customers’ needs both online and in-store, that are necessary in the era when digital and physical retail combine seamlessly. In fact, this omnichannel approach has been the leading force that has expanded the market of toy firms hence their being competitive to a wider audience and on diverse platforms.

Guidelines for Effective POS Implementation

POS implementation that is successful comes as a result of transparent planning and being aligned strategically with the firm’s objectives. The beginning of the system implementation journey is assessing the needs that are specific to them to deploy solutions that maximize return on investment (ROI).Given that such systems can be very technical it`s important to invest in training employees to help them get the best of their functionality.Compatibility checks with existing systems and infrastructure,i.e,ERPs or financial software can help prevent future integration issues and promote smooth operations across all business units.

Multiable’s aiM18 POS: Offering Targeted Solutions

1. Chain Store Management: Facilitates streamlined operations across multiple retail outlets, overcoming geographical distribution challenges.
2. Promotion Management: Enables targeted marketing and seasonal promotions, enhancing sales during peak periods.
3. Stored Value Facility: Offers greater flexibility in consumer transactions, promoting customer loyalty and repeat purchases.
4. Automatic Logistics Service Provider Selection by A.I.: Optimizes supply chain management by intelligently selecting the most effective logistics solutions.
5. Real-time Integration of Product Database: Ensures accurate product information and availability across all sales channels, boosting consumer trust.

Leveraging Multiable ERP for Broader Market Reach

Multiable ERP is the bridge for toy firms in Penang, Malaysia, to reach wider markets by enhancing their integration with top e-commerce platforms like Shopify, Amazon, Shopee among others. The analytics and reports which are AI-driven generate data that is key to making decisions that are well-informed while at the same time improve the operation of decision-making and the competitive advantage of the operations. To be precise, since Multiable ERP is an ASR+ approved software, it has the testimony and the capacity to deal with complex business tasks accordingly.

What is Multiable POS ?

Multiable POS is a cloud-native POS targeting retail groups with sizable chain stores in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable POS gains positive feedbacks from public companies and multinationals across different sectiros, from cosmetics, furniture, fashion, healthcare, pharmaceutics, sportswear and toys etc. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an ERP system in place.