It’s December already, Christmas is on everyone’s mind, production is booming, and people have started shopping for different types of countless products to secure holiday demands. While so much planning has gone into the Christmas season, it isn’t surprising for retailers to still face supply chain problems.
Although nowadays we have automated solutions available for everything, and seemingly the supply chain management solutions are not a newbie to the retail industry. Still, the global supply chain faces multiple challenges in terms of short supply, logistics costs, pre-production, etc.
In this context, there’s no point in discussing the definition, geography, or any other introductory aspect of the supply chain management software. It makes no sense to reverse engineer when you can learn about a perfect solution without doing any research or development.
In this blog, we will learn how Odoo can help the retail industry make a more sustainable supply chain, especially during peak seasons when foot traffic is at its highest.
Why Odoo For Supply Chain Management in the Retail Industry?
Imagine yourself hovering over multiple spreadsheets including inventory, logistics, supply chain, etc. to keep track of all the stocks you need for the upcoming Christmas sale.
On the other hand, there are leading retail brands like Walmart and others that always keep their supply chains prepared for peak seasons.
Surely some thoughts have already entered your mind, like “How does Walmart maintain a sustainable supply chain?”
Or as a retail Juggernaut, how Walmart always invests more easily in business infrastructure?
Regardless of the fact that SMEs and startups always need to re-evaluate their financial plans before moving forward because supply chain solutions usually come overpriced.
We’ll understand both of these points step by step.
Retail management software like Odoo helps retail business owners to focus on acquiring more sales by offering a multitude of POS (Point of Sale) features and functionalities like inventory management, utility logs, transactions, and much more.
Leading retail brands like Walmart use supply chain management solutions like Odoo to manage every crucial process of their company such as finance, manufacturing, HR, supply chain, inventory, etc. in one place.
Moreover, Odoo seamlessly centralizes all the data related to multiple business processes in a single-dynamic view. Let’s now discuss another issue, where many retailers believe that purchasing a retail management tool could sabotage their organization’s financial performance.
Most retailers believe that understanding the technicalities would waste their employees’ time and energy, so they prefer spreadsheets over purchasing a retail management tool. Nevertheless, there is no point in denying the fact that most retail management solutions come at a higher price and also include further costs like employee training, customization, etc.
This is where the Odoo supply chain management solutions by Ksolves come in handy. Odoo is one of the world’s most installed business software, and as compared to other retail management tools, Odoo ERP is cost-effective in nature.
Odoo ERP is an open-source, cloud-based business management suite that helps retailers to integrate all their business processes in one place. Furthermore, the Odoo implementation increases profitability and efficiency as it integrates seamlessly with e-commerce solutions and provides real-time insights into the product inventory.
Features of Odoo that help your retail business keep a sustainable supply chain.
Odoo is a business management software suite that allows an organization to execute every simple to complex business operation in a single step.
Now we’ll dig down to gain an in-depth overview of features that gives Odoo a competitive edge over other retail operations software solutions that are slightly over-rated and available at higher prices.
- Sales, Purchase, and Finance Management
Odoo offers higher flexibility over other retail supply chain management tools, it can be easily customized to fix the most complicated business scenarios that usually happen in supply chain management.
It features a POS (Point of Sales) module to establish an auto-sync between the sales and inventory modules. Don’t miss the demo, it will help you uncover how Odoo can help retailers to monitor each stock and other utilities in real-time.
Adding an extra edge to that, Odoo’s POS module is also compatible with biometric devices, so you will not have to worry about the other offshore tasks associated with warehouse operations either.
Managing inventory has always been a woe in retail management operations, and there’s no point in addressing how cumbersome it is to monitor the supply chain in real time.
Ignoring such challenges, such as out-of-stock slots, optimizing entire inventories, and so on, can result in significant financial loss and has led to the bankruptcy of many major market players.
The inventory management module in the Odoo ERP gives a shotgun approach to supply chain operations. It centralizes the entire inventory of an organization and doesn’t leave even an individual product detail behind.
Here are some other benefits of the POS feature in Odoo that keep retailers ahead of all peak seasons while creating a sustainable supply chain:
- Real-time insights into product inventory
- Nearly out-of-stock products
- Push notifications about product expiry
- Demand forecasts with past buyer trends and purchasing habits of online customers.
- Easy inventory optimization to meet the see-saw demands of different customers.
- Manufacturing and Production
The Odoo ERP also features a manufacturing and production module that can be easily customized to execute different types of business functions.
For example, you can easily create Bills of Materials, manage frontend and backend materials, manage offshore manufacturers and suppliers, etc. As well as managing and configuring kits, it can help optimize warehouse processes.
A more effective sustainable supply chain can be made if the Assembly Lines, Equipment, raw materials, and finished products are in real-time control.
With Odoo Supply Chain Management, the complete operation of the manufacturing facility and its operations can be synced effectively by defining the Quality Checks and Quality Control points appropriately.
As we read earlier, Odoo ERP is a cloud-based supply chain management software that empowers retailers to access every insight of their eCommerce operations from anywhere.
Moreover, Odoo is highly scalable which means it can boost the retail operations of small and medium-sized enterprises (SMEs).
It is ideal to have multiple checkout processes on an eCommerce website. The time it takes to navigate through them can be a turn-off for some customers.
Nevertheless, with Odoo, you can quickly, easily, and intuitively accomplish all of these processes in one step. Moreover, it also helps in eliminating checkout abandonment rates which ultimately drives more sales in your bucket.
- All Business processes in one Place
Now, what makes Odoo ERP the most installed business solution in the world? Let’s dig into the following point to uncover this fact.
- Odoo’s uniqueness lies in the fact that all of its applications are interconnected. In terms of supply chain management, this will be a great benefit.
- Odoo automatically creates Sale Orders in the backend when a customer places an order in the e-shop.
- The SO will create a raw material purchase order for the supplier once you confirm it.
- Odoo will create a manufacturing order for the manufacturer once you receive the products from the supplier.
- Using the raw materials provided by the retailer or directly from the customer, the manufacturer assembles the end product.
- Odoo generates the invoice for the end product once manufacturing is complete and it is ready for delivery, and once the invoice is paid, it registers the payment, which ends the process.
Each process that is discussed takes place in a different application but while using Odoo ERP, you can get things done without switching between different applications.
Odoo makes real-time supply chain monitoring a left-handed task. With a single click, you can expand every single bit of your retail operation processes including sales, purchase, or manufacturing.
Moreover, we can also develop an interactive customized to visualize different information about your business processes.
Things not to miss about Odoo
Supply chain Management via Odoo provides retailers with the capability of managing everything from a single view. Retailers can benefit greatly from it.
Besides integrating Odoo’s e-commerce functionality, it also offers various business applications such as Sales, Accounting, CRM, Inventory, etc.
In addition to 16000+ free apps, Odoo has 21000+ paid apps available on its app store, which is connected to its own database. On the other hand, Odoo has more than 8 million users worldwide, from small businesses to large corporations.
Using Odoo ERP, users can access real-time information about orders, shipping rules, inventory cycles, and a lot more to ensure the sustainability of their supply chain.
When we look into supply chain operations, we realize that they are synced with multiple parameters of retail management including the involvement of independent business units such as grouped and individual manufacturers, distributors, wholesale sellers, and retail sellers.
In order to keep a sustainable supply chain, it is crucial to monitor all of the running operations frequently. There’s an old saying that “every cloud has a silver lining ”, with Odoo ERP this still rings true in retail operations management.
Odoo can easily take over the aforementioned supply chain functions, eradicate the flow of human errors and provide real-time insight into each operational activity to the users.
Seemingly, Odoo ERP distinctively couples all of the possible routes of your retail functions which means it also gives the functionality to real-time monitor the retail stores located in different locations.
While using Odoo, you don’t have to worry about the lower stock and other supply chain woes that always keep you away from focusing on other productive areas of your retail business.
Moreover, being a world-famous business suite, it also offers an Accounting module which makes it easier for retailers to manage their cash flow transactions.
Seemingly, in the context of keeping a sustainable supply chain, Odoo can effectively handle the reverse following the journey of every individual product linked to your inventory. It is also one of the standalone benefits of using Odoo ERP for supply chain management.
Gearing up with Ksolves for Supply Chain Management via Odoo Implementation
Recognized globally as the maker of the most downloaded business dashboard app on the Odoo App Store, Ksolves is a leading Odoo Gold Partner and a reputed software and Odoo development company.
We’re equipped with a skillful team of experienced Odoo developers having years of industrial experience in every aspect of Odoo ERP including consulting, development, customization, and implementation services.
Whether you want to implement Odoo ERP with your existing retail business or launch an eCommerce business from scratch powered by Odoo integration, our experts are just a call away.