Developed by jewelry industry retail automation technology leader Abbott & Shapiro, LLC, MAXITURN™ is a sophisticated system that uses the data collected by the company’s EDGE point of sale system to enable stores to buy product more quickly, accurately and effectively than ever before, from an electronic network that includes many of the industry’s leading manufacturers.
Abbott & Shapiro state MAXITURN™ represents a breakthrough in electronic ordering for independent jewelry retailers by:
- Creating a “virtuous circle” that will dramatically boost retailer profitability and prosperity. The system automatically identifies fast selling items in a store’s inventory and can re-order them without human intervention. It recommends the type and cost parameters of product needed to keep a profitable mix of inventory in stock. It also identifies funds recovered from low performing items and points users to the best performing inventory segments, where the recovered funds will very likely perform better.
- The Edge’s sophisticated analytical reports into action. By capturing all sales activity through a jeweler-friendly POS component, the Edge is able to dynamically produce a restocking plan on a daily basis. MAXITURN™ can then fulfill the plan by retrieving all products that meet the jeweler’s criteria, such as item category and cost.
- Making life much easier for independent operators. Instead of spending hours and hours on buying plans and looking for vendors to fulfill their needs, MAXITURN™ introduces Edge users to progressive manufacturers who are committed to working with the independent retail jeweler in a symbiotic relationship, the objective being to boost the performance of all involved. This allows retailers to focus on other important tasks such as sales training, merchandising, marketing and advertising, all key to building a successful business.
- Giving independent jewelry retailers a powerful “quick response” system like those that have driven the expansion of the large chains and department stores. By providing instantaneous marketplace feedback, quick response systems enable retailers to respond with incredible speed to consumer demand, and avoid making costly investments in poorly-selling inventory. MAXITURN™ also dramatically increases productivity by cutting down on paperwork and manual effort.
MAXITURN™ is built into the Edge jewelry store management system and can only be accessed by Edge users.
The Edge is produced by Abbott & Shapiro, LLC, a company established by Dick Abbott and Joseph Shapiro with a mission to provide the independent retail jeweler with the technology, methodology and training to sustain and grow their businesses.
Abbott has had a long career in systems design and programming and has owned a jewelry store since 1976. His daughter and son run the store today, so helping independents perform to their peak potential has a very personal importance to him. Shapiro has more than 35 years of computer system design and programming and derives great personal satisfaction from making a real difference in his customers’ lives.
“Information is power,” Shapiro says. “Especially high quality information such as that provided by the Edge. MAXITURN™ makes it virtually effortless to turn that powerful information into profitable action.”
MAXITURN™ brings exceptional clarity, ease-of-use, flexibility, and efficiency to the purchasing process. At large retailers, sophisticated quick response systems track the performance of every item on a store’s shelves. Whenever an item runs low, the systems can order new product with minimal human intervention. This creates a virtuous cycle, where the store’s best-selling products are constantly available to consumers who are never confronted with empty shelves when everything is working right.
Abbott & Shapiro’s goal is not just giving jewelers better tools for doing business, but to fundamentally improve the quality of their lives.
“From personal experience, I know that most store owners act as their own buyers,” says Abbott. “Given that they are also managing their stores, waiting on customers, setting policy, and a million and one other tasks, we wanted to do everything possible to reduce the amount of stress they faced as they did business. MAXITURN™ accomplishes that.”
In addition to tracking sales volume, The Edge also tracks gross margin return on inventory investment, or “GMROI.” By focusing on the GMROI of the entire inventory, as well as its components, The Edge with MAXITURN™ produces a more dynamic inventory while improving cash flow and profitability. MAXITURN™ vendors are committed partners, “stock balancing” with retail partners who agree to automatically reorder fast selling, profitable items - a real “win-win” partnership.
MAXITURN™ works by making the connection between jewelers and manufacturers more simple and more direct than ever before. A number of the industry’s leading manufacturers participate in the MAXITURN™ network. Based on the store’s sales data, The Edge advises jewelers on how much money they need to spend on purchasing new inventory every day, week or month. MAXITURN™ then helps place the orders. Jewelers can set parameters that choose which products are automatically re-ordered, or they can interactively shop for goods as readily and easily as they can view their own inventory database.
“As a business owner, I know that purchasing isn’t just about buying products or products I like. It’s about purchasing products that contribute to my store’s bottom line. The Edge system gives stores the information they need to make good decisions. MAXITURN™ makes applying that information virtually effortless,” said Abbott.
Identified by industry surveys as the leading retail automation package for retail jewelers, The Edge has long been considered the easiest to use and most functional point of sale system on the market. MAXITURN™ takes The Edge system to the next level, empowering stores to compete not just with other independents, but with department stores, chains, Internet-based vendors, and the myriad of other players that populate an increasingly crowded marketplace.
MAXITURN™ is currently in use by a limited number of selected Edge users and will be available to all Edge users later this year.