In India,
trading companies are so much tangled in itself hence seems to be
complex to handle. Trading industry doesn't maintain hierarchy or
monopoly in processes, results, the same unorganized processes &
administration. Entire market is open and here to contribute in it,
traders must be able to give excellent services to the users.
Whenever, you
come to know about some business processes & strategies, have you
ever imagined that how all processes work in line. It is because of
ERP implementation, which enables the entire enterprises to
track inventories which is in continuous selling process and also
those that have not sold for long time.
ERP for traders is considered as the significant business
application, since it constantly assist in completing important
organization's functions.
Let's see,
what type of challenges an organization face without having a trading
ERP system:
Inaccuracy
in information retrieval:
No trading
ERP software installation means limited resource visibility.
In this case, users will have limited output or information related
to all business activities. Due to lack of process visibility,
company could not be able to move on which may lead it towards
failure.
Lack of
manpower management:
Manpower
management has been tremendously handled by using ERP
solutions which can't be easily handled manually at times. It
is the major benefit of it through which administration keeps updated
without no or less manual intervention.
Incomplete
customer information:
Mostly in
trading business, users fail to get real time customer information
related to payable v/s receivable ratio, credit history and payment
history. This operational inefficiency forces all the trading
enterprises to implement ERP system just to eliminate the
above hassles.
Incomplete
or inefficient historic business data:
In ERP
software solutions for this
industry, an exceptional functionality has been added to maintain
historic database of business organizations. On the other hand,
in traditional management software, there has not been such function
that maintain entire database with previous and current information.
Thus, by
seeing all advantages of ERP for trading, most of the
organizations are moving to transform their business into web based
platform. Moreover, due to this single system, all the enterprise
locations get tracked and the information will be accessed in real
time formats.
