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2016/17
ANNUAL REPORT
The Color of Money
The redevelopment provided our Finance, Purchasing and IT departments with opportunities to
reassess processes and systems.
The Finance team conducted a comprehensive review of fixed assets as The Club embarked on
the redevelopment works – all new fixed assets were tagged and construction work-in-progress
were capitalized upon the issuance of Certificates of Completion, while assets that were disposed
of during the redevelopment were written off. In anticipation of the shift to a smaller temporary
wine storage during the redevelopment, our Cost Control team worked with F&B to reduce the
inventory of wines by a further 32% to $378,000 or 15.8% of annual wine sales. The Club’s wine
turnover ratio improved to 3.35. Our Purchasing team also enhanced efficiency by reviewing
contracts, conducting tender exercises and reducing The Club’s number of active vendors. This
exercise allowed us to enjoy better price negotiating power and a cost savings of approximately
3.5% to 5.0%.
Our IT team was kept busy with the migration of
our server to the Claymore building when the Scotts
Road building was demolished in September 2016.
They seamlessly moved all servers and equipment
and got the POS, inventory and booking systems up
and running ahead of schedule. That same month,
they installed 18 faster-performing computers at the
new Business Center at Level 3.
Always looking for ways to innovate and
create efficiencies, the IT team also spearheaded
several new initiatives across The Club including
implementing a new barcode system for
merchandise at sên and Essentials, enabling faster
checkout for Members; creating an online library portal and installing UHF RFID technology to
enable our Library team to perform book stock-take more efficiently; introducing a library self-
check in and out kiosk to allow Members to self-transact book borrowing and returns, saving
the Library 333 man-hours per month; and palletizing our purchase order workflow process to
consolidate similar product purchases from various outlets into a single purchase order, reducing
overall purchase requisitions and purchase orders by 25% and 45% respectively.