Eternal’s Game-Changing App on Odoo Platform is Revolutionizing Jewellery Businesses!

Eternal’s Game-Changing App on Odoo Platform is Revolutionizing Jewellery Businesses!

July 9, 2024 / Nirav Shah

Resourceful jewellery inventory and stock management are significant for the success of any retailer in this glittering industry. However, it comes with its own challenges that need careful management and technology support.

In this blog, we will mention the common challenges faced in the jewellery management business and provide practical solutions to overcome these problems.

We will further explore how a Jewellery Management app in Odoo enabled by Team Eternal can help you in streamlining and optimising the operations of your business in the Jewellery sector.

 

The Challenges in Jewellery Management Business and Operations

Managing a jewellery business involves multiple set of challenges. This spans both operational intricacies and market dynamics. Also, jewellery pieces are high-value items that require meticulous record-keeping.

So, any mismanagement or loss can lead to financial consequences. Furthermore, fluctuating market prices for precious metals and gemstones demand agile pricing strategies and thorough market analysis to maintain profitability.

 

Below is the list of sales, financial and operational challenges in the Jewellery Business

 

• Inventory Management and Enablement
• Difficulty in tracking and managing various jewellery pieces
• Issues with stock levels and replenishment
• Sales Enablement and Customer Management
• Managing customer relationships and sales processes
• Handling custom orders and special requests
• Financial Management and Enablement
• Complexities in pricing, invoicing, and financial reporting
• Supply Chain Coordination, Management and Enablement
• Coordinating with suppliers and distributors
• Ensuring timely procurement and delivery

 

Eternal Introducing its Jewellery Management App on Odoo Platform

 

Our Jewellery Management App offers end-to-end functionality tailored specifically to the unique needs of the jewellery industry. It effectively enables gemstone tracking, managing custom orders and handling inventory.

The app integrates and blends with main Odoo modules like Product Enablement, Sales Management, Purchase, and Stock to provide a cohesive platform for dealing with several aspects of Jewellery business operations. The application streamlines and optimises the operations of your business in the Jewellery industry domain.

 

Our Jewellery Management App Integrates with Main Odoo Modules

 

Eternal has launched this jewellery management app to streamline jewellery business operations by integrating modern-day Odoo ERP software.

We have improved workflow competence and enabled the system to have a robust workflow and a friendly interface. Below are our functional Odoo modules.

 

A) Product Management Module

The product management module offers three significant fields, which covers dealing with product catalog, variants & customisations, and pricelist.  

• Product Catalog:
  With product catalog, you can effortlessly craft and deal with a wide catalog of Jewellery items, These items include comprehensive product descriptions, images, and specifications.
  
  
• Variants and Customisation
  With this functionality, you can manage diverse variants of Jewellery items like size, colour, material, and design customisations to successfully meet customer preferences.
  
• Pricelist Management
  With this functionality, you can maintain several price lists for diverse customer segments, special offers, and marketing promotions.

 

B) Purchase Management Module

This app helps in streamlining the procurement process and ensuring that purchases are made only from selected vendors.  The purchase management module offers the following vital functionalities.

• Supplier Management
  With this functionality, your users can maintain comprehensive records of suppliers. These records will comprise of contact data, pricing agreements, and purchase history.
• Reference No
  This is the precise reference number which is directly applicable to the main product. Each main product has exclusive components and elements linked with it when purchased.
  
  
• Automate Purchase Orders
  Your users can easily automate the creation of purchase orders based on diverse stock levels, sales predictions, and supplier lead times.
• Purity
  The purity functionality indicates the gold transparency of the main jewellery set. It can be measured in karats.
• Quantity 2
  This functionality reflects the quantity, ranging from 1g to 5ct or from 1000kg to 1 ton.
• UoM 2
  This functionality indicates the name of the unit of measurement (UoM){For Quantity 2}.
  
• Piece
  Product elements already have two units of measurement. The third unit of measurement, “piece,” is utilised for items such as pearls, diamonds, and stones. These items differ in size. The quantity 2 functionality reflects the quantity, ranging from 1 g to 5ct or from 1000 kg to 1 ton.
• Gross Weight
  When the Quantity2 and UOM2 values of an element are ‘g’, these values total is added to the main product’s Gross Weight Total field. This action is activated by clicking the button labelled ‘Gross Weight’.
• Vendor Bills and Payments
  The users can easily leverage this software to manage vendor bills and payments effortlessly to ensure timely settlements and sustain trusted supplier relationships.

 

C) Inventory and Stock Management Module

This module provides real-time tracking of stock levels and their movements. It provides resourceful categorisation and labeling of jewellery products.

• Stock Tracking
  Real-time tracking of inventory levels across several locations and warehouses can help in scaling your business.
• Stock Movements
  Tracking of stock movements includes incoming shipments, internal transfers, and outgoing deliveries. This scenario ensures accurate inventory records and their precise maintenance.
• Lot and Serial Number Tracking
  Users can track batches and individual items with lot and serial numbers to enable explicit
  traceability and compliance.When the main product and its attached elements are purchased (e.g. a diamond set), the
  main product is stored in stock, while its elements are moved to a virtual location as stated
  by the put-away rules.

 

D) Sales Management Module

This module helps in streamlining sales processes and customer engagements. It enables custom order management and offers personalised customer experiences.

• Quotation and Order Management
  Users can generate professional quotations and sales orders with thorough product descriptions and pricing.
• Point of Sale (POS) Management
  Integrated POS system enables well-organised in-store sales and inventory updates on a real-time basis. In the sales order page, your users can utilise the main product in the ‘Main Product Name’ field.The main product and all its elements will automatedly be retrieved from the applicable purchase order based on their reference number. The retrieved data is automatedly added to the sales order line.

 

E) Manufacturing Management Module

In our manufacturing procedure, there are two categories: indoor and outdoor. Outdoor manufacturing involves several steps. This includes subcontracting to diverse jewelry shops and using numerous locations like work centers, vendors, or third parties.

For every part of the procedure (Work Order or Job Card), we craft different bills of materials (BOMs), such as GHAT, MEENA, JADTAR, FITTING, or POLISH. These BOMs are internally connected, leading to the creation of the main product BOM.

When the Manufacturing Order (MO) for the main product is approved, related child MOs are automatedly generated.

 

F) Integration with Other Modules

By flawlessly integrating with Odoo Accounting, CRM, and Marketing modules, the software delivers an all-inclusive view of business operations and improves efficiency levels.

With quick data synchronisation, users can access up-to-date business reports, customer insights, and marketing analytics, all from a single platform. This comprehensive integration streamlines workflow and empowers businesses to make informed decisions swiftly.

How Businesses Can Leverage Maximum Benefits from Jewellery Management App

 

Here are the business players who can use this software for the utmost benefits and gains:

1) Retail Jewellery Stores

Jewellery retailers can significantly enhance their operations with a jewellery management app. These retail stores can effectively deal with their in-store and online sales through this jewellery management application.

This application enables inventory tracking and offers personalised customer services to better manage retail jewellery stores.

2) Wholesale Jewellery Distributors

For jewellery wholesalers, maintaining accurate and organised records is significant due to the higher volume of transactions. These wholesale jewellery distributors effectively deal with their bulk orders, handle supplier relationships, and monitor stock across numerous warehouses through this app.

3) Custom Jewellery Designers

These jewellery designers provide customised design options, handle customised orders, and sustain comprehensive records of customer specifications using this app.

Furthermore, the Jewelry Management App help these designers manage their inventory, track orders, enable customer preferences, and minimise manual workloads.

 

Key Gains from this Jewellery Management Software Application

 

This jewellery management software from Eternal offers the utmost advantages to different
types of jewellery business players:

a) Unified Platform

The jewellery management software offers centralised management of all connected business processes to empower jewellery sales and inventory. This unified platform provides a single point of access for all functions related to jewellery businesses.

b) Scalability

The software enables scalable solutions that helps in your business growth and maturity. It accommodates increased inventory, sales volume, users, and upsurge in customers. So, as your business expands, the software can easily manage the increased demands and needs.

c) User-Friendly Interface

The friendly interface of the software efficiently manages bulk orders, deal with suppliers and better monitor stocks across numerous warehouses. It is designed to be intuitive and simple to navigate, ensuring that even non-technical user base can easily understand and utilise it.

d) Real-Time Data & Insights

Access to real-time data from the software ensures informed decision-making and timely responses to changing industry demands. It enables organisations to remain ahead of the market competition by providing valuable insights into consumer behaviour and preferences.

 

Moving Forward with Odoo’s Jewellery Management App

 

Getting started with Odoo’s Jewellery Management App is easy with accessible resources and support from Odoo. With a cost-effective Jewellery Management app in Odoo, Jewellery businesses can attain greater competence, enhanced customer satisfaction, and improved profitability.

We at Eternal are here to help you with any queries or inquiries you may have for enabling a jewellery app in Odoo. Please feel free to connect with us and we can even help you with jewellery app development, redesign, and customisations.