Given how diverse and multifaceted the jewelry industry is, our esteemed Jewelry client based in the USA has been struggling with managing all the core operations and workflows. Despite having integrated different enterprise applications like invoice & accounting, CRM, and others, they couldn’t streamline the operations. Furthermore, the market bottlenecks, lack of integration, and improper data visibility posed long-term challenges for them. This also impacted their custom jewelry manufacturing cycles, reduced productivity, delays, and leaks, and severely affected the brand reputation.
Owing to this, we took it upon ourselves to develop a custom Odoo ERP for jewelry businesses that will help them establish a streamlined operational workflow at all levels. Our ERP experts gathered detailed information about their pain points, both in technical and business arenas, and proposed a feasible, innovative, and agile solution in the form of Custom Jewelry ERP software and eCommerce solutions. From inventory management to order tracking, we integrated numerous custom modules that helped them enhance efficiency and improve the deliverables.
Challenges Faced By Jewelry Retail & Online Business
After a thorough discussion with the client, we successfully pinpointed the major areas where they faced problems in everyday operations. Narrowing down their challenges helped us to understand the prominent gaps in the requirements and the existing technologies and processes.
Complex Product Data Management
In the jewelry business, numerous products are manufactured and sold to the end users. These come with complex architectures and several variables. From different master styles of product designs to precious metals and stones used as raw materials for manufacturing, the product data volume was humongous. Managing such a complex system using simple software proved to be excruciatingly difficult for our client, especially when there were so many variables and dependencies impacting the managerial workflows.
Material & Lot Tracking
Since the client is a jewelry manufacturer and retailer, they had to deal with different lots of raw materials that included precious metals, stones, diamonds, and several other gemstones. These are not only priced high but also difficult to procure from the suppliers from time to time. Due to the striking absence of a proper material and lot tracking software, they faced issues with maintaining the inventory, checking the material stocks in real-time, and precise tracking of the raw materials based on their serial numbers and lot IDs. This further caused disruptions in the supply chain and often led to overstocking and understocking.
Order Management
Another major issue was in order management. Real-time tracking of the customer order proved to be extremely difficult without appropriate integrations. When variable orders were placed, the sales team had no way to categorize them into different groups and precisely monitor them to fulfill those orders with accuracy and at the right time. It also causes problems in aligning the product master styles with different materials while placing orders with the vendors during the procurement cycle.
Bag(Inventory) Management
Since the jewelry business of our client is vast, they have different departments dedicated to handling the materials procured from the vendors. Without appropriate inventory management software, the clients had difficulties in tracking these materials based on the department requirements and other specific variables. It further posed huge problems in inventory management, stock transparency, and material movement between different departments.
Refining
Another challenge that the jewelry client faced was determining the refining accuracy and precision when the raw materials needed to be converted into appropriate products through the manufacturing cycles. Furthermore, they couldn’t give a proper estimate of material recovery at various stages of the refining cycles due to a lack of data transparency, refinement tracking, and real-time material view.
Reporting
They faced issues with creating custom and accurate reports for cost structures, material procurement, inventory stocks, and other areas. With no proper reports, gaining valuable insights into various business operations became extremely difficult. This also caused problems in the decision-making process, streamlining of the operations, and so on.
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Here is a List of Features an Ideal Jewelry Inventory Management System Must Include
Custom Jewelry ERP Solution Provided by Silent Infotech
To help clients overcome the challenges mentioned above and streamline the core operational workflows, we implemented custom jewelry ERP software with advance features . Below are the solutions we have provided to the client using customized Odoo ERP.
Product Inventory Management Setups
At the very beginning, we streamlined the product management process by implementing three different modules for tracking the raw materials like gold, platinum, and diamonds, aligning the master styles to different materials, and helping the clients to keep a note of all their products.
- Product module: Developed custom product templates and uploaded them in this module. These will help our client to align the products with specific master styles and define various attributes with accuracy and precision, including stones and materials needed, findings, and many more.
- Product variants: Our ERP experts have implemented the product variant module in Odoo ERP that helps our client define all possible attribute combinations for each master style design. This way they can provide a higher level of personalization to the end users through an advanced level of permutation and combination.
- Bill Of Materials (BOM): Through the hierarchical structure of BOM, our experts developers have linked the master styles of every product with the required materials. To make the defined tree structure more precise and traceable, we have leveraged the serial information and lot ID for tracking different capabilities in real-time.
Product Design Management & Configuration
We have implemented the Odoo Studio module at the heart of our client’s business infrastructure. Through this, the sales team can easily configure complex jewelry designs by combining the master styles and pre-defined materials in the systems. Additionally, this will help them to provide custom jewelry samples to their customers and enhance the brand reputation and user experience by several notches.
Order Management
Managing the orders is perhaps one of the most complicated jobs that every jewelry business needs to perform. As our client was already struggling in order management, we integrated sales and manufacturing modules to streamline order management workflows and introduce higher efficiency and performance metrics.
- Sales module has been implemented to allow the sales team link different customer orders with the product configurations, thereby generating automatic production orders and reducing the time and effort otherwise needed in manual conduction.
- The manufacturing module helps to define a detailed guide for the manufacturing team regarding the product configurations, orders, materials to be used, and other necessary instructions for streamlining operations and higher productivity.
Manage Bags(Inventory)
We have created a specific Bags module and integrated the same with the manufacturing and inventory modules for better data flow and higher information visibility across all levels. It will help them to track material movements according to different departments and lot numbers with higher accuracy and precision.
Manage Material Lots
Our experts have streamlined material lot management by implementing an agile and centralized inventory management for the jewelry business. The precious materials including gemstones, diamonds, metals, and others can be easily tracked via their lot numbers or serial IDs and that too in real-time. It reduces the problems of overstocking and understocking and also aids in accurate inventory calculations.
Material Issues/Jewelry Development Issues
The client can now link any material issue observed with the production orders or bag processes seamlessly for effective tracking in real-time and prevention of major production failures.
Manage Jewelry Refining
We have resolved the refining challenges the client has been facing by implementing a custom Odoo feature that will help them to track and manage the refining processes of various types. Furthermore, the module can also be leveraged to generate accurate yield calculations and determine precise material recovery percentages.
Raw Material Stock Management
We have ensured that they can track the stocks of various raw materials and the finished products easily and also in real-time for better inventory and supply and demand chain management.
Reporting and Analytics
We have implemented the Odoo reporting engine at the core of the ERP software to help our clients generate accurate reports based on advanced data analytical algorithms. Following this, their analysts will be able to create custom dashboards and data reports on various domains, including production, material stock, inventory, refining yields, and sales and cost.
Security Control
Odoo access control module has been implemented to allow them to define the permissions for individual users and departments based on their roles and tasks. This will help them to control the data access and ensure the core systems are secured optimally.
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Benefits of Odoo ERP for the Jewelry Business
Streamlined Operations
With Odoo jewelry ERP, a centralized platform for data visibility and tracking can be implemented. This has allowed our client to streamline various operations, including cost management, inventory movement, supply chain management, order tracking, and many more.
Precise Tracking
Odoo ERP also allows the client to track material movement, real-time stock availability, order processing, and other variables with higher accuracy and precision. It ensures better accountability and improved data transparency across all levels.
Costing and Analysis
One of the major benefits gained by implementing the Odoo software is in defining accurate BOMs and gaining access to refining and material recovery analytics. As a result, optimizing the expenses and cutting down unnecessary costs have become easier and smoother for the sales and operational team.
Flexibility
Odoo offers a higher level of customization, we have developed different custom modules to cater to the specific business and technical requirements of our clients.
Scalability
Our Odoo ERP Solution is a scalable software, meaning the implemented modules can be modified on the go as per the changes in the requirements without having to go through the entire process from scratch.
Important Considerations for Jewelry ERP Software Development
For implementing the best Odoo jewelry ERP, following are a few considerations to make.
- ERP Development Partner selection: Selecting a reputed and expert ERP Software partner will help jewelry businesses gain access to the correct Odoo modules that can help streamline their processes and add value to productivity and efficiency.
- Process mapping: A detailed mapping of the processes followed to date is needed to accurately plan the Odoo modules and have them implemented without causing business disruption.
- Data migration: Also, data backups should be prepared beforehand to ensure they can be recovered on time once the existing platform is migrated to Odoo.