ERP FOR THE JEWELLERY INDUSTRY
A prominent partof the Indian GDP is the jewellery and gem industry in India contributing tonearly 6 – 7 % of the country's GDP. In addition to their contribution to theGDP, the GOI has made Jewellery and Gen stones a prominent the export areasince the world's 95% diamonds. Today, we can witness more than 5 hundredthousand players in the Indian market, most of them being small players.
In such acompetitive environment, to survive, every business is focused on improvingtheir productivity and reducing costs. Best ERP software for the Jewelleryindustry is designed to serve the brands as a great asset in Jewellery ShopIndustries as it is proven to support in Manufacturing, Wholesaling &Retail sectors of the industry. With the best ERP software, every businessrelated to the industry can benefit as the industry is wide and has differenttransactions taking place with a different type of customers.
With an ample oftransactional data in the jewellery business – customers, vendors and labours,every brand should ask themselves an inevitable question to grow. Is thetraditional way of recording and tracking the business data still a profitableoption? The answer is No. One cannot depend on the manual way of tracking all thedata today. Hence ERP would be a great change in these sectors. An ERP softwaremaintains your data and at the same time, all the transactions can be wellmanaged and synchronized with no need for manual documents and papers.
WHY ERP ISNEEDED IN JEWELLERY MANUFACTURING?
Being a one-stopsolution for managing and accessing different aspects of the business in ajewellery manufacturing company from the raw materials to bills, ERP forjewellery industries assist with:
Design Setup:The initial step for every jewellery manufacturing is the style setup where thebrand can have an insight into the management of each aspect of the design andallows user to define and setup vendor-specific values for various styleparameters. From the style code generation to tracking different vendors forthe style, diamond and colour stone to proposal creation, lock production styleso that the authorised person can edit the same and view the history of themodified styles.
Apart fromeasing the styling process, the ERP for the jewellery industry also offers acomprehensive bill of material consisting of casting, diamond, colour stone,finding and labour detail.
InventoryManagement: The well-designed ERPs are focused on the satisfaction of the needsof the people and create and maintain receipts, issue, transfer and physicalinventory entry. With their integration of sales, purchase, gold, contractorand production module, each aspect of the inventory can be tracked along withreports that are based on stock in hand. Wanting to know where the inventory ispossible now as the ERPs offer the information about the inventory going fromone production stage to another.
In themanufacturing aspect of the industry, the ERPS for jewellery industry areequipped with various other features like workflow setup, manufacturingTracking, Job duration and material tracking, job splitting and labour costing.With efficiency in mind, the creators of the ERPs focus on purchase and supplymanagement Customer and Vendor Management, jewellery sales tools, accounting,timekeeping, real-time reporting, and customerportal.
Jewellerymanufacturing trading is different from the other commercial small & bigbusinesses as it contains the price values based upon the market rate whichvary day by day. It hence raises the same problem that the sales order does notcoincide with the state of delivery since the price of the raw materials may beincreased in the due course of time. A large amount of stock is important tobuy during the decrease so that the company will benefit in the long term. Thissurely can't be achieved with the ancient model excel and spreadsheet. You mustin need of an automotive system that will alert you whenever the rate isfavourable for you, whenever a customer's payment will be due, etc.
ERP can be thebest solution for Jewellery industries for managing the small as well as largebusiness transactions of the industry. ERP software provides a solution for thesmall business and increases profit because of the better OperationalEfficiency and feasibility.
BEST ERP FORJEWELLERY MANUFACTURING
PIRO ERP: With afocus on the manufacturing process, PIR ERP has been a prime solution provideras a jewellery ERP software solution. PIRO ERP helps in integration withQuickBooks and e-commerce solutions to help the jewellery manufacturing brandsin managing all business processes. One can avail the features of thisprominent ERP with the different plans available that are tailored to smallbusinesses to large enterprises.
Tiara ERP: Awell-known name in the ERP for the jewellery industry has been making thebrands have efficient working since its inception. The brand has been cateringto the manufacturers, wholesalers and retailers in the jewellery industrybacked with features like BOM, Design and SKU manufacturing, estimating, salesorder management, material requirements planning, vendor management, productionplanning, inventory control, RFID and Barcoding along with accounting.
Tally, ERP:Being a renowned brand in the inventory and finance management of variousbusinesses in different industries has also extended their hand in the businessprocess management software industry with the Tally.ERP. This ERP software forjewellery industry has been allowing the management of data as it can beaccessed from a browser, on any device anywhere over a fully secure connection,Tally Business allows in getting the updates about business information in oneclick, creating and issuing professional GST invoices, viewing, tracking andreordering stock in a matter of seconds.
The ERP allowsthe users to make smarter business decisions with insightful reports whilemanaging multiple companies, branches and godowns, tracking overdue payments,tracking outstanding and send reminder letters for overdue payments,reconciling bank accounts, automatically reconcile bank statements with booksof accounts, and file accurate GST returns.
Ornate ERP: Justas Hallmark is a paramount symbol of quality in the gold and as silverjewellery, Ornate has gained the status of being most effective as well as aprofitable system of managing jewellery business houses, diamond jewellerywholesalers and manufacturers across India, What makes this ERP stand out isits ability to offer the diamond technology solutions that allows the jewelleryretailers and wholesalers to manage offices/stores using a customizableweb-based ERP software made specifically for the jewellery industry.
Online Munim:This ERP software for your jewellery business has established its name as anessential in managing stock/inventory with bar-code or RFID tags, sendingpromotional or transactional SMS to your customer's, creating customizedinvoices, tracking a sale, supplier stock and orders, credit or debit notes,other expenses, GST & accounting reports and much more.
In the digitalworld, jewellery-barcode/ RFID Tag's are essential. ERPs allows thecustomization and printing of the tags by thermal or laser/ink-jet printers.The jewellery reports by the ERP showcases jewellery stock report for its users
From stockreports, you can check Available / Less / Most Selling stock list and the totalwholesale or retails stock with filters to jewellery catalogue search jewellerystock with images or by price range like e-commerce portals and also check theproduct information & price quote.
The ERP softwareoffers solutions designed for both retail & wholesale business. In thewholesale stock purchase or sell in bulk quantity, in retail stock manage bytags, Catering to the Indian market, they offer GST-R1, R2, R3 Reports bytracking the purchase, sell or business transactions automatically generation.
Managing each department manually can be a gruelling and tedious task especially when there is a ever-changing price that adds to the difficulty. Automating all these processes with ERP will not only help in saving time but also improving the efficiency of the business. One should focus on deploying a comprehensive jewellery software from the best ERP for jewellery manufacturing mentioned above and manage every facet of a jewellery store efficiently.