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Kitchen Hardware and Kitchen Baskets

Client into Kitchen Hardware and Kitchen Baskets

Kitchen Hardware and Kitchen Baskets

Challenge Faced: Year 2018/19

  1. 90% of business was from distribution to direct retailers and wholesalers.
  2. Profitability going down YOY due to increased competition and static prices.
  3. Sales targets are not defined and sales are not tracked.
  4. The majority of business was towards the month’s end as it was channel-driven.
  5. A big sizable modern retail and projects market was left open for competition.
  6. There is no tracking of sales or any visibility. Scattered distribution network with no ownership

What was done: Stage 1

  1.  Organized the entire Sales Channel by setting up trade margins and appointing sole distributors in defined territories. 
  2. Companies goal setting was done along with the sales team.
  3. Mid-Market focusing on
    1. Building an organized sales channel
    2. Building a strong funnel by focusing on appointing new distributors and organizing the reporting structure
    3. Increased marketing activities at the distributor’s end to enhance the pull from the applicants.
    4. Brought in specific vertical focus 
    5. Created & worked on deals since inception, rather than responding to them.
    6. Created a robust lead management system and launched incentive schemes to motivate the sales team to focus on adding new retailers and distributors. 
  4. Named Accounts:
    1. Focused on marking big distributors by launching multiple deals and incentives
    2. Created a bottom-to-top approach in-cashing the trade margins and by doing proper product segmentation 
    3. Clearly Identified Hunting, Cash Cow, and Farming accounts 
    4. Applied various competitive methodologies
      1. Frontal
      2. Flaking
      3. Divide and conquer
  5. Stage 2: Divided the teams with a vertical focus on building a set network
  1. Industry downtime utilization by opening new areas. Creating frequent plans to visit new territories and making active distributors. Opened Haryana, Punjab, HP, Rajasthan, East/West UP, MP
  2. Monetizing the sales team with lucrative incentive schemes to enhance new sales.
  3. New to Repeat business ratio equalized by 60%. Which was less than 30%.
  4. Successful implementation of Lead Management System through automation. 
  5. The 80/20 ratio was deferred due to successful product segmentation. 
  6. Assisted in successful dealer meets premium product launches, and market penetration. 
  7. Bottom-to-top incentive schemes were launched in order to enhance sales team performance.
  8. Sales reviews were done on an everyday basis focusing on Inputs. To enhance the skill sets of employees and enable them to adopt change management various training programs were conducted focusing on their Soft Skills, negotiation skills, Team Management, and Leadership Skills.
  1. Stage 3:  1. Product and revenue planning to launch new Sales Channels (Projects)
  2. The sales Manager was hired to launch complete kitchen solutions for residential products.
  3. Annual Sales Strategy and business acquisition Cost was parked to launch the sales channel successfully.
  4. A strong Lead Management system was launched in order to create strong Sales Funnels.
  5. Named accounts and projects were marked to approach in order to create a parallel revenue bank against the distribution network.
Removable kitchen hardware Emuca | Elegance and Quality ☑️

Outcome of Hard work – Successful renewal and upsell of services.

  • Fixed remuneration for the management was defined in a proprietorship company.
  • The ratio analysis format was created for him to review on a regular basis.
  • The working capital deficit was controlled by focusing on new Sales
  • Salaries of both blue- and white-collar employees was regularized on every 7th and 10th of the month.
  • A more motivated and productive team was formed and the focus was more result-oriented.
  • The production issue was resolved by appointing a PPC manager and giving him a forecast for the next month, which even regularized the inventory mismanagement.
  • Sales Coordinator was appointed to enhance the pre- and Post Sales experience for their clients
  • Worked a lot to reduce their receivable cycle to 30-45 days from 90 to 180 days. the payment-linked incentive scheme was launched. 
  • Bad debts were liquidated by resolving out petty issues and taking back materials from the distributors and retailers. Every new Sale was booked at 100% advance

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