What is Jewellery ERP Software?
Jewellery ERP software is a high-end solution that provides unparalleled visibility and control over jewellery operations and streamlines purchase contracts, customer orders, inventory management, and other routine industry-specific operations.
Jewellery businesses across India use ERP software to identify fast-selling items, understand consumer trends, and track every facet of their business operations. Adopting such emerging technologies allows them to make informed decisions, maintain unprecedented accuracy, achieve breakthrough results, and stay ahead of their competitors.
The jewellery erp software is also used by jewellery retailers as a comprehensive jewellery shop software to efficiently manage and optimize their everyday store operations with AR Automation. It enables them to make all the processes fast with RFID-based billing, easy to use mobile apps, quick access to financial transactions, which enables business growth and in-depth analysis.
Overview of Jewellery Industry in India
According to the data published by the India Brand Equity Foundation, a trust set up by the Ministry of Commerce & Industry, Government of India, India’s gems and jewellery exports are expected to reach the target of $100 billion by 2027.
There are several factors believed to contribute to the rapid exports of jewellery products. The Government allows a 100% FDI in the jewellery industry, and it has set up several Special Economic Zones (SEZs) to boost exports. Several private equity platforms have committed a significant investment worth several crores in the fashion and silver jewellery niche of this sector.
Challenges faced by Jewellery Business
The retail businesses being so fragmented and demanding, faces several challenges that impacts its growth and profitability. Some of the key challenges faced by the industry are mentioned below:
1. Un-organized Sector:
The un-organized market is one of the biggest challenges of jewellery industry. There are a large number of small and medium-sized enterprises operating in this sector, which makes it difficult for the businesses to compete with larger players in the market.
2. Lack of transparency:
The industry lacks transparency, as many small businesses are running in un-authorized way and on cash basis, leading to lack of information and details.
3. Complex Supply chain:
Jewellery industry has a complex supply chain as multiple intermediaries are involved in the process. So, it becomes difficult to track the items and ensure quality delivery.
4. High Inventory costs:
It involves a high level of inventory holding costs, which impacts its profitability. A jewellery inventory software can help in maintaining the associated costs and take care of the stocks.
5. Increasing competition:
With increasing E-Commerce industry, the jewellery industry is facing increasing competition, making it difficult to compete in the market.
6. Increased sources of investment:
The increasing interest of people to invest in digital gold bonds and other investment funds is a cause of high tension. The physical gold market is highly affected, as traditionally it would gain a lot of profits, as people first priority of investment would be gold. Also, the growing interest of people in diamond jewellery is a matter of concern.
Quick Benefits of using ERP for Jewellery industry
- Manages Ornaments Price’s Fluctuation
- Useful for user to retrieve information easily.
- Smooth billing processes.
- Better Strategical Management for tracking data.
- Well Maintained Stock Transactional Data.
- Customized and Developed UI’s for the modules as per Requirements.
- Have Point of Sale (POS) system for smooth checkout process.
- Stores and manages customer and shop’s data.
- Automatically generates and sends invoices to customers.
- Tags different jewellery pieces with price and specifications.
- Offers various payment options to customers.
- Tracks and manages all the sales and store expenses.
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⇒ Jewellery ERP for manufacturers
Jewellery manufacturing is a vast process, with different layers of operations. Jewellery design software and manufacturing software is a powerful tool with reporting and analytical measures which leads towards better decision making and being profitable.
Further the Warehouse Management System is a boon for the manufacturers to maintain their stocks and look after the forward backward traceability of the stocks.
With Fixed asset management software, it becomes easy to look after the assets and track their performance which helps in improving the machine efficiency. With the use of this, the system downtime is also reduced.
It comes with modules and features which are mentioned below:
- Catalogue & Quotation Print & Email
- Receive Customer Order Item Wise
- Order Status at Every Stage of Production
- Procurement software
- Melting, Raini, Machining, Polish, Cutting, Soldring
- Process Transfer & Losses
- Karigar management
⇒ Jewellery ERP for wholesaler’s
Jewellery software for wholesalers comes with customized modules including inventory management, order management, customer management, and accounts payable software. With ERP one can keep track of inventory levels and customers in real time. It comes with following modules:
- Purchase
- Stock inventory
- Customer reports
- Suppliers and karigars
- Real time analytical Reports
- Security
It consists of status of stock in hand (Wt. and Pc wise), stock summary, stock ledger, bills outstanding’s, customers payment trend, customer wise profit & loss, interest calculation, supplier’s ledgers, finance reports books, multi-level passwords for security,
The handling and cost effectiveness of bulk purchase of bullion gold and ornaments is also managed well with jewels software.
⇒ Jewellery ERP for retailers
The retail showrooms are the crucial part of jewellery business, as it is the visiting place and represents the business in front of customers. Thus, an effective software is needed to take care of all the operational activities, inventory, orders and customer satisfaction.
Jewellery retail erp software helps you manage and optimize all aspects of your store, from customer management to, marketing techniques and stock details. The jewellery store management software looks after all the operational activities and the billing procedures and detail are accurately handled by jewellery billing software.
It comes with following features:
- Provides technological advantage
- Can Split the data into separate companies as and when required
- Use of RFID Tags for quick Stock Tally & Multiple Tags Issue
- System for old gold purchase and loss calculations
- Complete entry like Sale, Purchase, Returns, Payments, Bhav fix etc. on a single screen
- Bill Due Date & Reminders
- Deals with all orders related tasks.
- M.R.P. Calculation & Cost Rate Calculation
Key features of ERP for Jewellery business
1. Barcode management:
The ERP barcode management offers features such as selling price, item code, quantity, weight, size, and more to store the item details. One can easily speed up billing process with direct scanning barcodes, RFID codes and split tags.
2. Rate Management:
With jewellery billing software, one can adjust the prices of the items and the average cost is also displayed to aid profitable selling prices.
3. Sales Analysis:
With sales management system, one can view an in-depth analysis of the top selling products and the items which are average. which helps in reviewing the consumer preferences and updating according to it.
4. GST Reports:
Generating of GST reports, balance sheet, profit and loss report, can be done in just few clicks with accounting software.
6. Karigar Management:
With specialized module management can Check & Simplify complex Karigar accounts on different criteria (Gr.Wt., Fine Wt. , Dia./Stn Quality).
7. Gold Hallmark Jewellery:
With jewellery software easy management of Purchase, Sale & Stock catalogue of Gold Hallmark Jewellery can be done.
8. Mortgage Management:
With jewellery software you can search all girvi records specified by client names and details. Through it you can easily manage updates delete suppliers or craftsmen, and keep track of your gold, silver and cash balances.
Why Should I Use Sage X3 for My Jewellery Business?
Using a cutting-edge solution such as Sage X3 will help you meet your ever-evolving business complexities and manage various aspects of your operations. Here’s how:
- Precisely track every cent of your inventory with Barcode and RFID integration
- Multi-branch management with real-time checks & balances
- Supports both dynamic and flexible pricing across multiple currencies
- Get paid faster with automated billing reminders for upcoming & overdue invoices
- Streamline the generation of financial statements for audit-readiness
- Streamline procurement, subcontract management, and everyday business processes
Achieve Next-level of Efficiency with Sage X3
Sage X3 is a business-critical tool with multi-country, multi-currency, and multi-legislative capabilities. It excels in handling the core processes of the jewellery businesses and offers them a greater level of control & efficiency over their business operations.
With the best ERP software in India, you can streamline your everyday business operations from sales, billing, and custom ordering to financial management. Gain precision in tracking the inventory of gold, silver, platinum & diamond, and oversee multiple branches with ease. Deploy Sage X3 today and stay attuned to the industry trends!
FAQs
1. Which Software is Used in a Jewellery Shop?
Sage X3 is the widely used software in jewellery shops across India and worldwide. It is a best-in-class solution that offers a robust array of business-critical features tailored for the specific needs of the jewellery businesses. Maximize your productivity, cut costs, and stay ahead of your competitors with this forward-looking solution.
2. Can I Customize Sage X3 Jewellery ERP Software for My Unique Needs?
Absolutely! Sage X3 is a strategic ERP application that comes with extensive customization ability so that you can fine-tune it for your unique industry and operational needs. It is a fully scalable, flexible, and customizable solution that lets you embrace modern technology, gain deep analytical insights, make informed decisions, and fuel growth & success.
