Trading Industries work with various products sold for business, consumers, and government purposes. Several challenges such as regulation changes, fluctuations in demands, and consumer behavior make difficulties in trading industries today. Trade belongs to the exchange of commodities with a trader for collecting goods from another individual. Odoo ERP system enabled an infinite solution for trading sectors. The management of database, stock, POS, merchandise, and other aspects makes trading more effective. Odoo 15 ensures the support for Purchases, Accounting, and Sales in a trading business.
This blog gives an insight into the advantages of implementing Odoo 15 in the trading business.
A firm attains profitability by building accurate plans about stocks and inventory with the Odoo 15 provides customer satisfaction when it comes to trading. We can manage various warehouses and billing spots with detailed information by using the advanced features in Odoo 15. Now, let's view the functions in Odoo 15 that are beneficial for trading business.
Effective Customer Relationship Management
The customer relations operations in trading manage easily with the assistance of Odoo 15 CRM. You can look into sales activities in Pipeline and meet the expectations of the target audience. Users can add Pipelines in various stages according to process completion, as displayed in the screenshot below.
It is easy to schedule customer meetings, and Odoo 15 tracks sales stages quickly. Odoo ERP assures a transparent and healthy linking between trading and customer relationship management. Furthermore, we can achieve income and sales generation in every route of business activities. A high degree of customization undergoes for your trading business with the Odoo 15.
Request Quotations and Purchase Orders with Odoo 15 Purchase
One of the time-consuming tasks in the trading business is purchasing, and it includes various stages. Purchasing phase includes goods identification, generating quotations, firm selection, and finishing purchase processes. Other vital factors are product quality, return policy, services, and refund. You can identify and create purchasing sources with the assistance of the Odoo 15 Purchase module.
Creation of a Quotation
A firm's strength identifies by looking at a quotation and attaining the best deal; it is necessary to implement a Quotation professionally. Users can prepare Quotations that consist of purchase processes and price values. It is easy to request Quotation from vendors for a trading industry with Odoo 15, as depicted in the screenshot below.
Generate a Purchase Order
A long time occurs when doing a purchase order manually, and it becomes a simple process with an efficient Odoo ERP system. We can improve the operation efficiency through Quotation reviewing and sending a Purchase Order. For a Trading business, Purchase Order approval speeds up with the support of the Odoo 15 Purchase module. The vendor and trader can finish and approve the PO process fastly. Moreover, it assists in the speedily packing of commodities for a business process.
Manage the Vendor lists
One of the vital parts of a business group is managing the enterprises' list in a trading firm. We can access all Vendors' lists by selecting the Vendors menu in the Orders tab in Odoo 15 Purchase module. It ensures you check out performances and prioritize the operations of a company.
Formulate Sales Orders and Quotations
We can develop Sales Orders and Quotations in an excellent method using the Odoo 15 database. All the Sales Orders are automated with Odoo ERP, and it forms at the time when customers are interested in buying a commodity. To issue a Sales Order, factors such as price, sales units, and other aspects generate automatically. Choose the Orders menu in Odoo 15 Sales module and access the Sales Orders list as denoted in the screenshot below.
Users can generate a Sales quotation under various stages, such as setting company data, impart quotation layout, confirming online payments, etc. The details about Salesperson, Customer, Company, Total price and Status for each Quotation access from the Quotations window are profitable for a trading business.
Structured Product Management
Various product types with multiple variants and measurement units are managed efficiently with an Odoo ERP system. We can maintain product variants such as colour, size, template, and variant level with the Odoo 15. An individual can create products with variants in the Odoo 15, and you can see an inbuilt option to edit products inside the Odoo 15 Sales module. It is easy to develop Product variants from the Odoo 15 Inventory module. Select the Product Variants in the Products menu, and we can see a created list of product variants. You can add Sales Price, Quantity on hand, Variant values, and more details of a Product Variant, as depicted in the screenshot below.
A product price list has a significant role in the trading business, and buyers have a clear understanding. Users can set grand discounts and different prices per product under the Pricing section of Odoo 15 Sales settings. The screenshot below shows that it is possible to add multiple costs per product and advanced price rules with discounts/formulas.
Package and Expiry Date management
One of the vital parts of inventory management is categorizing goods based on packaging and physical features. We can control all these processes within one click in Odoo 15. Traders get an overview of the packaging process and inventory activities with the support of Barcode. Another strategy in packing is adding an expiry date, and it is necessary to arrange commodities based on manufacturing/expiration dates. An Odoo ERP manages to add correct packing details and dates on a specific product.
Invoicing and Report Analyzing
The report management and future auditing boost with the Invoices process. Odoo ERP updates customer invoicing, vendor bills, payments, and sales receipts. We can configure sales and purchase records with the auto-generation of bills, invoices, and payment details. The cash arrival and funding calculation also become easy with ERP software.
One of the most complicated processes in a business is report preparation, and your trading report generation becomes easy with the help of Odoo 15. Cash flow, tax report, and balance sheet management update quickly with the Odoo 15, and flawless accounts production makes reporting easy.
Odoo ERP ensures to formulate the ERP for trading business in various ways. We discuss the advantages of implementing Odoo 15 in the trading business, such as CRM, request Quotation, managing vendors, imparting sales orders, etc. Uninterrupted business growth enables you with the advanced features of Odoo 15.