- Silex Holdings, a subsidiary of holding company RJD Green, revealed that they would be implementing the use of software platform, StoneAPP across its business
- The software is expected to assist the company in both, reducing overall inventory costs whilst generating other ancillary savings expected to total as much as $300,000 per annum
- Silex has been a recent beneficiary of the U.S. home renovation boom, seeing its orderbook swell to record levels
- The company has simultaneously looked to introduce further operational efficiencies within its business, with StoneAPP’s implementation amongst these
Silex Holdings Inc, a Tulsa, Oklahoma-based wholesaler and distributor of kitchen building products and subsidiary of holding company, RJD Green (OTC: RJDG), recently revealed that it would be fully implementing the use of StoneAPP within its operations. The Stone Grid-designed software platform has gained renown within the stone fabrication industry for its functionality and ability to help clients streamline both, production and operational functions given its broad array of applications – ranging from project and inventory management tools through to accounting and quote management functions (https://ibn.fm/MxJlq).
Silex Holdings have stated that they expect the software to help reduce the company’s inventory costs by as much as 30 percent with ancillary cost savings from the company’s other operational activities resulting in a further 10 percent reduction to their cost base, with cumulative annual savings totaling over $300,000 per annum.
Home improvements have risen in popularity over the past few years, with the recent 2022 U.S. Houzz and Home Study (https://ibn.fm/YNcDa) revealing that American homeowners’ median renovation spend had grown by 20 percent, rising from $15,000 in 2020 to $18,000 in 2021. Kitchen renovations were featured as the most popular upgrade item, with homeowners investing 25 percent more in kitchen upgrades in 2021 relative to the previous year.
Whilst Silex has been a beneficiary of the ongoing home renovation boom – the company’s order backlog had grown to over $2,400,000 as of May 31, 2023 – a relentless focus on operational efficiency and cost controls helped Silex contribute to parent company, RJD Green’s net operating profit margin expanding to 10.5% in the most recent quarter (https://ibn.fm/XaZPH).
Ron Brewer, CEO of RJD Green Inc., commented in relation to the company’s operational focus: “Silex continues to increase its most profitable sectors, commercial projects and high-end commercial homes while maintaining their ongoing home builder and retail business. Silex Holdings is now focusing on profit enhancements such as inventory savings where the return-of-investment is recovered in year one allowing Silex to create ongoing cashflow benefits in the years following.”
A recent research report by Statista forecast that home improvement sales within the United States were expected to grow to over $620 billion dollars by 2025, rising from a value of $538 billion in 2021. Seeking to fill an underpenetrated market niche between Home Depot and local contractor companies, Silex has sought to capitalize on the industry’s growth through both, its focus on manufacturing and installing granite and other countertops, cabinets, and other products as well as its expansive customer base, ranging across residential builders, commercial contractors, and DIY customers, alike.
For more information, visit the company’s website at www.RJDGreen.com.
NOTE TO INVESTORS: The latest news and updates relating to RJDG are available in the company’s newsroom at https://ibn.fm/RJDG
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