Higher Calling for Luxury Retail Tech Provider
No longer content to just supply the luxury retail market with intelligent technology solutions, MYNDAR has set its sights beyond to a point, that affects us all. MATTHEW MAN speaks on the days to come.
Think of ill patients urgently awaiting essential drugs now ineffective because they have passed their ‘use-by’ date. This could be a thing of the past if Matthew Man’s Myndar goes ahead with its plans that could help reduce waste, enhance drug trading between hospitals and keep stocks of urgent supplies like human blood and other temperature-sensitive urgent supplies fresh and available.
“Our mainstay used to be the luxury retail markets but we all know the market situation now. Though, it can’t afford to cut spending on sales-enhancing technology, we have seen a decline so we’ve started two new divisions to cater to cold chain and health care,” says Man.
“Marrying technology with logistics, we are now able to provide information on real time temperature of goods to users of mobile devices. This means blood banks, restaurants, medicine companies can now see how much stock they have and what temperature these stocks are being kept at and replenish when necessary. We’re developing the Smart Drugs Cabinet, which could reduce waste up to 50% in hospitals thus having far reaching good implications for the health care industry and market. There is a growing demand for this technology world-wide and we expect to grow steadily beyond Hong Kong in these recession-proof industries.”
Myndar with over 80 patents for a number of award-winning devices and other ingenious developments, empowers clientele with tools to enhance business intelligence, streamline operations, and greatly improve security to unprecedented standards. Widespread adaptation of Myndar solutions may soon change the paradigm of IoT infrastructure worldwide.
Matthew Man: “We are looking at providing key streams of businesses with innovative, robust technological solutions that take business to a new level of efficiency and convenience.”
Making Life Easier
Catering to these high value industries is both an art. “One sizes doesn’t fit all and you are more than a product or service provider. You are a tailor-made solutions provider and that’s why we don’t have very strong competition,” says Man, adding that a few have tried to copy Myndar’s ideas but have largely failed. For the most part, their attempts have been based on broad assumptions and a lack of understanding the varied dynamics of potential customers.
Beyond retail, Myndar also handles warehouse automation, raw material handling, logistics management and big data management. Constant innovation, leveraging today’s technologies and available platforms with the aim of adding value to customers’ business ecosystems allows it to develop solutions many top retailers have yet to implement.
“We try to make our customers’ lives more convenient – easier for them to achieve what they want. Luckily, our customers are very advanced. Innovation doesn’t just come from us. The eternal question is: how can you adapt current technology to the industry? We do that not only to fill a niche and advance in business but rather to cater to the needs of humanity at large. For business to grow they need technology to help maintain inventory, curb waste, keep stock fresh and accessible at all times. Technology sales time, money and man-power in the long run and competitive companies have no choice but to invest in it.”
“We are looking at providing key streams of businesses with innovative, robust technological solutions that take business to a new level of efficiency and convenience thus freeing them to innovate and compete which in turns effects our lives for the better,” concludes Man.
For additional information, please visit www.myndar.com
Hong Kong’s Business Leaders share market and interest intelligence in the pages of HKMVC 2017