Hardware and Lumber's flagship store on Spanish Town Road. -
Andrew Smith/ Photography Editor
Sabrina Gordon, Business Reporter
Hardware and Lumber Limited, which trades as Rapid True Value, says its new US$1.4 million computerised platform to track inventory an customer needs with products on the shelves should come on stream fully in five months.
H&L chairman Douglas Orane said Monday that the IT platform was among strategies being tried to boost the company's sales.
"The year's performance was quite disappointing," said Orane, who is also chief executive officer of H&LA parent, GraceKennedy Limited, speaking at the company's annual general meeting.
H&L ended 2006 with almost double the profits made in 2005, $37.7 million compared to $20.3 million, but its turnover of $5.6 billion was just 5.0 per cent better than the $5.3 billion spent in its stores in 2005.
Under the new IT system, being supplied by IBM partner in New York, H&L hopes to have its operations integrated by November.
"This system will allow us to have a well-managed inventory and efficient warehouse operation, with distribution to our retail network being fully supported," said Yvette Johnson, the new Chief Information Officer.
Fully integrated system
"The system will be fully integrated from point of sale to backend activities such as procurement."
Johnson said H&L has confidence in the software, adding that other companies in Jamaica - Facey Commodity and Mainland International - have already deployed it.
The CIO is one of two new management recruits at Hardware and Lumber, which is reshaping its team as part of its reorganisation. A Chief Human Resources Officer was also hired earlier this year to handle recruitment and proper staffing.
Looking ahead, the company announced it would be adding the Ralph Lauren line of paints to its stock, a high-end brand for which Hardware and Lumber was selected as the first international dealer, H&L said.
The paint will be sold initially in four of the seven stores.
Sabrina.gordon@gleanerjm.com
