Since jewellery is a sector wherein inventory, raw materials as well as finished products are small in size but high in value, even a minor mismanagement of these can result in a huge loss. Manufacturers in this field have to be always on the mark in every aspect of their operations. Even a little delay in production, designing or order processing, can give a big advantage to competitors.
An advanced ERP suite made exclusively for jewellery business, can be a one-stop solution for the myriad challenges faced by manufacturers in the sector today. In addition to the core operations such as designing, production, inventory control, cutting / polishing, staff management and accounting / finance, a first-rate ERP solution can also help in keeping in check, human errors, delayed response time and lesser productivity.
Let’s take a look at the key points that make a proven jewellery solution a ‘must-have’ for manufacturers in the sector.
Effective analyses of where the profits are coming from
There are times when you know you have made profits but are unable to figure out which orders or designs or customer segments yielded the best returns. Only if you have a highly structured data of your entire business processes and operations, you will be able to effectively analyze the reasons of your profits and take measures to prolong the success. Which means in the absence of a time-tested ERP software, you are just depending on your instincts and luck, instead of analytical business data.
An ERP with customer relationship management (CRM) features will give you a good insight about customer behaviors – covering needs, orders, returns, deliveries and services requests. This will help you categorize customers into different business probability segments, and chalk out sales promotional and service plans around them. This way, you can invest your resources more in areas where there is more scope of getting good returns.
Just like with customer segments, an ERP can also help you get the best from data on jewellery designs, purchase patterns, items purchased and order types, among others.
Absolute control over your inventory
Very often, in spite of knowing that you have sufficient quantity and quality of inventory, you are unable to streamline its usage in the most desirable way. That is because you are not equipped to know where exactly are the specific types of inventory, which of these inventory are moving faster and how much monetary losses are being incurred due to dead inventory.
An effective ERP system can help you optimize inventory investments by providing a distinct overview of the vital inventory-related statistics, and how they correlate with different departments across the company. An ERP can help you in various aspects of inventory management, such as ensuring there is no availability gap, tracking of inventory related to different items to be manufactured, maintaining location-wise data of inventory, and more.
Streamlining delivery of customer orders
There can be situations when in spite of knowing you can make a customer delivery, you are not in a position to commit a date. There can be several reasons for this – you are not aware of the quantity of the desired items in stock, the exact quantum of raw materials required to start production of a particular jewellery item or which of the orders should be prioritized.
The customer order is the central focus of any good ERP solution. It can play a crucial role in maintaining successful, on-time delivery of customer orders by ensuring order capturing and facilitating shipping on time, management of order entries, tracking of order status, credit limit checks, improved order fulfilment, tracking of orders by the customers, expedited customer-related activities and quicker order processing.
Meticulous management of worker functions and skills
You have a general idea of the skillsets, qualifications, strengths, training availed of, speed levels, and average delivery times of your workers. But in the absence of a feature-rich jewellery ERP, these statistics cannot be useful enough for you to get the best possible results from them.
This calls for a well-integrated jewellery ERP which can help you employ the best fit employees for job responsibilities that match their skills, access and maintain each employee’s skill / training records, identify gaps between present and required skills and facilitate remedial action, recommend training and certification requirements, take smart decisions on recruitment of future employees, align your employees with your company’s vision and most importantly, provide your organization with an organised methodology for the skill and output development of each of your employee.
Sun Facets is a single answer for almost all the business challenges faced by today’s jewellery manufacturer. It methodically integrates all the crucial processes of the manufacturer in the sector, giving you optimized benefits from each. It is the most popular software in its category in the Middle East, and is fast moving up the popularity ladder in more than 20 other countries worldwide.
To find out more about Sun Facets and how it can benefit your organization, click here