Supply chain management is the coined word to describe the management of operations involving the flow of goods or services including sales, purchase, and storage of the raw material as well as finished goods in a company. In addition, the supply chain management can be vitally seen to be operational in all sectors of business operations in a company. In addition, they have the capability to bring in all the management operations and aspects dealing with products and services.
The supply chain management is of inevitable importance in the production of a company since the functioning will depend on the product and raw material form along with the manageability of the production aspects. Additionally, it has been discovered through research that the Supply chain management of the companies would require integration with the Enterprise and resource planning software used for the manageability and functioning of the business operations. Furthermore, ist been depicted that there will be a sudden rise in the requirement of ERP solutions in companies and the market will be valued at more than 48 billion USD by the year 2024.
In addition, the ERP solution implemented to be operational in the companies will provide a revenue growth of more than 22 percent for both the administrative as well as financial aspects of the companies. Odoo ERP is one of the widely used solutions and can be coined as the one-stop solution for all the business needs. In addition, with the capability of managing entire company operations from a single platform Odoo has widely grown to be operational to over five million users all across the world in a short span of over 15 years of operations.
This blog will provide an overview of the benefits of using Odoo to run your supply changing management operations.
Today there are numerous ERP solutions available in the market however, many of them lack the capability to undergo friendly customization to run the business operations of the company. Odoo on the other hand can be customized to suit any business requirement and the operations can be tuned to suit the business. Here certain aspects that make the Odoo platform a useful tool in the management of supply chain management operations of your company:
Inventory management
The Odoo platform has a modular structure of operations providing you with designated application-specific modules for operations. The Odoo inventory module is capable of providing users with effective warehouse management operations. Moreover, Odoo has a centralized management system making the platform to offer you one central inventory management tool to run your e-commerce, retail as well as wholesale operations of your company on your terms and conditions. Although the Odoo inventory management module is capable of providing you with effective and advanced tools of operations the integrated supply chain management with Odoo ERP will bring in more additional features such as the following ones:
> Organize and classify the inventory
> Manage and maintain detailed warehouse data
> Record different product movements.
If you need to understand the capabilities of Odoo inventory management read the following blog:
One-stop solution
The Odoo ERP is coined as a one-stop solution as the platform can bring in modules of operation due to the designated modular structure to do application-specific operations. Moreover, the platform provides global visibility to the company's operation with centralized inventory management as well as a database. In addition, the database operation of the company allows the data to be easily communicable within the company and the in-house operations.
The Odoo platform is capable of providing you with user-friendly tools to deal with the following aspects of company operations
> Customer relationship management
> Human resource management
> Purchase and sale management
> Data storage and management
> Inventory management
> Financial and accounting management
And many more but not limited to provide you with the capability to customize each module to run the various management aspects as described above to run as per your terms and conditions
Material requirement planning(MRP)
The MRP terminology of playing the material requirement is vital in the production operations of a company. The Odoo platform has user-friendly sophisticated tools to deal with it similarly in the case of supply chain management.
Real-time data recording and management
The business operations are functioning at a faster pace and you would require advanced tools to run the operations in real-time. The Odoo platform provides the user with real-time data recording and reposting allowing their operations to stay ahead of the curve. Moreover, the manual based data recording and reporting is a labor-intensive process and the chances of generating an error are high. Therefore, making the employees and the management team takes poor decisions of the company functioning rooting for catastrophic losses.
The supply chain management and Odoo ERP integration will automate the reporting and data recording operation thus allowing your company officials to make the decisions that are best suited for the operation. In addition, the platform also exhibits forecasting options on the report describing the quantitative and qualitative analysis of various aspects of company operation.
As we are clear on what the Odoo platform has to offer to a supply chain management operation of your company let me enlighten you with another statistical data which I pondered upon. In a survey conducted among IT decision-makers including the consultants, employees, management executives, and CEOs of various companies it was concluded that more than 50 percent of them would consider ERP implementation as an investment. Indicating that an ERP implementation or integration with the existing business terminology such as supply chain management will be beneficial in the long run for the company.
In addition, the supply chain management operations are well utilized in the manufacturing sector of company operations, and the Odoo platform exhibits an ineffective manufacturing management module that is capable of running the production as well as repair operations of the companies. Therefore, a Supply chain management Odoo ERP integration will provide the companies with efficient productivity and profitability results.