Scaling Up Your Jewellery Business With SAP Business One

15 July 2019 5 MIN READ

The Gems and Jewellery industry is ready for glittering future as the advancement in technology progress. Since ages, we have seen people adorned with beautiful gems, stones, precious jewels and others. And why not, we all love Jewellery in one form or the other like rings, pendants, gold chains, earrings, studs, bangles, danglers, cufflinks, necklaces etc. To manage all the precision and quality involved in these processes is a tough battle. As the industry is fast growing and dynamic, here comes the need for digitization.

The Jewellery industry has a lot to benefit from the automation, something that other players in different industry verticals are already leveraging. The Jewellery business cannot simply continue with the status quo and see profit falling in. The market has witnessed major trends in customer demands and purchasing patterns which instates that businesses need to be agile and play smarter to the changing trends in this business. This in turn has given impetus to adopting ERP solution for Jewellery industry.

Some of the key areas that the Jewellery businesses would need to focus on include:

Inventory Analysis 

To keep a tab on stock-outs of precious stones, gems, pearls, diamonds, gold or other inventory. To focus on excess and inactive stocks,

Sales Analysis Forecasting

To analyze how much profit your business is making in a given year. And what are the factors governing the same? Is there any discount offers, promotions etc.?

Evaluating the performance of an outlet  

To evaluate which specific outlet is generating high profit or incurring losses. This helps you to depict the improvement if any.

Profitability Analysis

To evaluate which particular Jewellery product is driving more business and enabling more profit with repeat orders.

Real-time Reports 

Real-time reports for business users highlighting buyer interest on specific items, transactions, returns and repeat customers.

Cost Center Management

Easily manage multiple manufacturing plants , define work center master, maintain cost/hour for each cost center and much more.

SAP Business One- The Game Changer for the Jewellery Industry

The software is highly robust and scalable to accommodate the needs of your business. It easily tracks high net worth gems, calculate inventory irrespective of their positioning like raw, under construction or finished product. The software facilitates easy management of various processes such as cutting, polishing, finishing, quality, and scrap value. Precisely, the Jewellery ERP software helps you in vendor consignment, returns management, and effortlessly track orders, immediately place purchase orders, and generate reports which help in informed decision making.

To stay ahead of the curve and be responsive to the changing demands of consumers, it pays to invest in the enterprise-ready ERP that not only helps in style configuration, sales order management, consignment management, operational planning and forecasting but also in POS and store management and Jewellery inventory costing.

So, have you made your mind to invest in SAP Business One software to see the profit soaring and your operational challenges coming down to nil?

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About the author

Saajan Sharma

Saajan Sharma is a digital marketer and guest blogger with several years of experience in the industry. He likes to help businesses stay informed and up to date with established and emerging technologies like SAP Business One, IoT, AI, Cloud, and others.

Follow me on LinkedIn to stay updated on the latest industry trends & technology update

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