With market trends changing at a faster pace, it has become a challenging task for the jewelry industry to keep up with it while trying to handle all the processes manually.
In addition to this, the odds of making mistakes because of manual management of essential information have increased leading to a massive loss in business profits.
This is why the ERP software for jewelry business has become the need of the hour!
Things To Look For In ERP Software For Jewellery
There should be a dynamic movement of stock levels, sales records and other figures from one module to the other. This means instead of sitting on one module and entering data from there, the program should seamlessly move the figures and data from one module to another without any manual intervention.
When the data is stored in one place, it is easy to interpret and analyze. As a result, you can easily find out how you perform with respect to your competitors in each territory, how your business is moving, and much more.
Straightforward to Use
An ERP software for jewelry should have an easy to use interface. There should be no complicated codes while inputting data. Rather, the software should be user-friendly and have simple commands that help you to avoid errors while recording data.
Storing Data in One Location
An ERP software for jewelry is required to keep all the business data organized in one place. It should not be restricted to one module and should be able to store the data in different accounts like sales, expenses, purchase, etc. without any hassle.
The software should have the ability to store the data in a single integrated environment. This way, ERP integration will not be required since all modules will work together instead of separately.
This feature will help in the following:
- Easy data retrieval
- The greater mobility
- The ability to cross check
- There is no need to change from one module to another for nothing
This saves a lot of time and money that would otherwise be wasted while managing data.
Ease in Managing Stock
The ERP software for jewelry should be able to deal with all stock entries on a single window without reducing the efficiency of a particular workstation.
If you feel like every workstation should be dedicated to a particular activity to increase efficiency, a self-learning system should deal with the stock management, sales analysis and entire inventory management.
As a result, you will be able to do the following:
- Quantify the number of products that are available
- Quantify the level of inventory that are required
- Provide output reports on a daily, weekly and monthly basis
With the help of ERP software for jewelry, you can get a better understanding of how things are shaping up by analyzing the historical data of sales, expenses, and other details.
This will help you maintain a close eye on sales, which will help in planning the buying of a particular inventory.
For instance, by analyzing the sales in the last quarter, you can easily estimate what products you need to buy from a supplier in the coming months.
How To Choose Your ERP Software For Jewellery?
Knowing the features required in an ERP software for jewelry and deciding what to buy becomes easier if you are aware of the following:
- How a software works
- What does an ERP software for jewelry have?
- How costly is the software?
- How does the software compares to others?
- What are the features of the ERP software?
Cost is associated depending on what your needs are. So, if you wish to reduce cost overheads, you may have to compromise on some of the features.
When you are in this dilemma, what you should do is assess the cost and the features of the software objectively. Evaluate how important the features are to you, and then go ahead with the purchase of the software.
This is the only way to decide on what you really need in the long-run.
ERP software for jewelry will play a vital role in manufacturing, buying, selling, transporting, and maintaining of product information for your business to grow. Also, it will make your job easier by offering you a much richer product information management.
It will reduce labor costs and increase office productivity. Your business will go further and smoother by choosing the right ERP software for jewelry.