Jewellery industry is based on bullion rate which changes depending on the market factors and the jewellery components contain precious metals and stones such as gold, silver and diamond, therefore, it is very important to prevent wastage and get a clear visibility across various units of sales and inventory.
The main components of jewellery ERP are user management, customer management, product management, supplier management, Goldsmith information, employee management, rate management (which is dependent on market value), sales tracking (that allows to upgrade stock depending on the product demand and sales), billing and invoicing, order and product delivering, purchase tracking, cash management, credit management, taxes, discounts, inventory, old jewellery record, sales and purchase report, balance sheets, journal, ledger, barcoding etc.
ERP and POS in jewellery ERP should be integrated through retail management system, financials, inventory, production, supply chain management; manufacturing, sales and marketing. POS software is a combo package which should have the features to enable easy installation in retail stores in different regions across the globe.
POS in Jewellery management should be integrated to allow a range of ERP functions
1. Provide direct-indirect sale covers and POS cash and credit Memo sales. It should give stock keeping record which allows investors to reduce data entry. The data related to stock items, consumables, goods and other items should be easy to save and modify.
2. The software should speed up transitions and provides instant point-of-sale to help in increasing customer base.
3. The software should provide reports related to customer buying patterns and give price point analysis which helps in improving sales.
4. The reports should be delivered fast and enable the organization to take effective decisions on time.
5. The financial accounting modules integrated to POS enables easy maintenance of finance.
6. Optimize customers and give modified prices based on store region, geographical location etc.
7. It should manage inventory located at many different geographical locations.
8. Reduce expense on errors, enable easy discount provisions and cash handling.
9. Trading should not be troubled by network problems, and both front office and back office support should be provided.
10. The software should meet the requirement of mid-sized, multi-sized, multi-user environment.
11. It should help in reducing the total cost of ownership.
12. The ERP should be simple to use, flexible and scalable.
13. The POS should be able to include next generation functions such as web generated orders, immediate response for customer queries, pre-screening returns for purchased items, cross inventory checks, modification in inventory based on web based purchasing and allow access to retail through the website from any part of the world.
14. The access should be based on the roles set up by the administration through the user management modules of the ERP.
15. The software should keep a record of customer purchase and profile which enables loyalty information. It should promote marketing and multi-buy, ensures customer benefits and help to increase sales.