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Trading

ERP for Trading company:

Indian trading industry is one of the most complex industry and highly competitive industry as they don’t have any monopoly in business.  The markets are open and the main reason a trader gets a business contributes to his service, credit he gets in the market and credit he is able to give to the customers.  A company has to procure to keep in stock the optimum stocks so that he can deliver customer in the fastest possible time. 

 

Business Challenges the industry faces

Lack of management manpower:

Most of the traders have accountants who are their data entry people and EDP person,they have very limited exposure to management related importance of reports and are confined only to statutory filing of reports.  With a limited knowledge source behind IT systems the output that would be generated would be also limited. 

 

Information retrieval depends on the level of intelligence applied while asking a query to the systems”.

You will have limited output from the same resources due to limited vision.  You lack and information systems which has pre intelligence set in the system which, deliver on demand. With such manpower your IT output is confined to registers printing and trial balance.  A company is not able to move beyond that.

 

Incomplete Information for historical data.

All these companies deal with various products which are very prone to change based on market conditions. They have much more complex and huge market wide database to be handled.  They would be maintaining multiple price lists of multiple companies.  At the same time they are also required to maintain customer wise selling prices as well based on terms and conditions.  It is a very difficult task to maintain this data base manually.  They are not in position to build a ready reckoned database which can be looked up for blazing fast decisions.

Many traders have been observed not give exact rates terms and conditions on the upfront just because they don’t have the correct market prices in approximation to quote to a customer.  They would check up with their market dealers add their markup margin and quote to the customer.   

 

Incomplete Customer Database:

 On the fly customer information, credit history, payable v/s receivables ratio, payment history this information they fail to get in real time.  By the time they realize the same, the commitment to transaction is already done by the company’s sales team which has to be honored.

 

Incorrect margin controls.

Sales people aggressive book orders to accomplish their top line targets, but when other costs are added to the deal, along with credit period and interest costs it may be possible there are hardly any margins left.  The company management end up just being mere collection department of goods which are sold at aggressive rates. There is no profit in the deal. Keeping control on such deals becomes difficult when sales tasks are done by sales people along with management.  Business rules are followed are management as they would not only see the sales figure but also overall profitability in the transaction.

 

Dead Inventory or No inventory at all:

Many times a huge amount of capital is blocked in dead inventory which is piles up over a period of time, These inventory need to be disposed off even at loss at times to free capital and storage space,  Real Estate costs amongst highest in the world keeping inventory carries a huge cost to be maintained. 

Also inversely one may also notice there are no goods at all which are to be sold.  So they need to procure material at the last moment and then sold. Which also causes delay and risk to transaction to be open is also there. A trader is a winner if he has minimum and optimum inventory in which he can deal and do maximum money rotations in the same inventory. 

 

Evolve used and implemented

Evolve has a functional advantage of implementing solutions to hundreds of traders in India and given effective solutions which have help in giving powerful information reports to help take informed decision in real time.

 

EVOLVE ERP provides the following benefits:

 

 

  • Enterprise-wise production planning A single system across all locations maintaining a central data which is real time and online.  There is no time lag or batch entry or data merging process.  The information is available real time. 
  • Sale to dealers, transfer to own retail stores ware houses etc.
  • Better pricing, promotions management.
  • Centralized purchasing it is one of the most effective and transparent method of purchasing which reduces the cost of procurement drastically as one gets centralized information of total requirements and other competitive data to be compared with.. 
  • Centralized accounting with factory and head office expenses entered in the same system
  • Reduced duplication of data entry and manpower efficient increases by 60%
  • No more reconciliation and creation of individual excel statements and reports which are always offline and outdated as they are not online.

·         Sales Order Entry and Pre-Production Processing.

·         Purchase Order Processing.

·         Customer wise profitability

·         Product wise profit analysis

·         Just in Time (JIT inventory)

·         Automated reports for goods below and above reorder level.

·         Powerful Ageing Analysis

·         Fund Flow Management

·         Pending Orders

·         Pending Dispatches

·         Historical reports

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