Home > Success Stories > Driving Success in The Face of Growing Pains
Driving Success in The Face of Growing Pains
Driving Success in The Face of Growing Pains
- Business Strategy Development
- Process Management
Shortcutx first emerged in 2022, as a nutritional supplement company. In less than a year, the brand experienced tremendous growth, establishing a presence in four different countries, including Singapore, Malaysia, Dubai and the United Kingdom. The brand prides itself on convenience and effectiveness, with a wide range of products that range from ready to drink sachets to powder-form meal replacements.
The company was founded in mid 2022 and the model was sound for the start-off phase. However, the overall direction was not clear moving forward from there. Not to mention, the company has increased its operating cost 3-4 times. If the revenue does not keep pace, there is a threat to profitability. In addition, initially, when the company started, it relied on Excel worksheets to record and track inventory. There was no periodic stocktake. The physical inventory in hand was not reconciled to the accounting figures. Hence, any human errors and stock loss could not be determined. The inventory has grown to a bigger amount then.
Business Strategy Development
We studied the current Business Model and proposed an improvement to the current model. A pro-Growth Model was generated. We deep-dived to find ways to increase revenue:
-
To push the products to the Global market (now products selling mainly in the Singapore market). A global marketing strategy was worked out and implementation in progress.
-
To conduct R&D on new products in the Wellness area. The target is to launch 2-3 new products every year. This will increase the revenue base and provide diversification.
Process Management
We studied the current Business Model and proposed an improvement to the current model. A pro-Growth Model was generated. We deep-dived to find ways to increase revenue:
-
The consultant studied and recommended a Warehouse management system to manage the inventory. The implementation is in progress.
-
The consultant also worked out the Internal Control procedures to monitor inventory and to ensure accuracy of inventory records. The reconciliation steps were also worked out including the cross checking of the correct charging of the Cost of Sales to the accounts.
-
Increased revenue by 30% by end 2025, and further increase of 30% in 2026.
-
Increased profit by 2 times by end 2025, and further increase of 25% in 2026.
-
Improved productivity by 15%.
-
Improved accuracy of inventory tracking