Hyde Park Success Story

Managing Inventory Through ASC System a Key Element in Hyde Park's Success

When Hyde Park Jewelers was first looking to install inventory management software, the company scouted out a number of options before selecting Applications Systems Corporation as the best possible solution. That was more than 20 years ago, but ASC is still an integral part of the Colorado-based chain's operations - and ASC has played a major role in supporting Hyde Park's expansion to four stores.

"We look at ASC as a strategic partner," says Michael Pollak, owner of Hyde Park. "We work with them on three different levels: as a regular customer, as a member of their ASCUS Users Group [a network of more than 100 ASC jewelers who share knowledge, ideas and best practices] and in developing custom and collaborative programs for us and other jewelers."

Although Hyde Park uses the full suite of ASC''s software solutions, the retailer's primary focus is on ASC's vaunted inventory and merchandising programs. "Managing inventory is the most important aspect of a jeweler's business," Pollak believes. "With ASC, you know what's selling and what needs to be replenished, so you don't miss any new revenue opportunities."

Pollak is particularly pleased with a one-of-a-kind Platinum Rewards frequent buyer program co-developed by ASC, Hyde Park and a third party.

The jeweler also is excited about a new marketing program ASC is developing that will offer jewelers an expanded demographic profile of their customers. Pollak predicts that the program will become a "major analytical tool" for ASC jewelers to gain a deeper understanding of their customers and more closely evaluate their purchasing habits.

One of the keys to ASC's success, according to Pollak, is the firm's versatility, responsiveness and focus on customized solutions. For instance, Pollak stresses that if a retail partner isn''t getting the kind of results it expects from ASC's software, ASC will "tweak" the model until the system yields the information that the customer needs.

Another plus: ASC seeks opportunities to borrow concepts from programs developed for one client to bring to another. "This kind of collaboration means that you don't always have to start on the ground floor," Pollak noted. "It's a lot more efficient."

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