The ability to diversify your product lines, the opportunity to be part of a rapidly growing industry- owning an FMCG (Fast-moving consumer goods) business comes with a lot of perks. At the same time, there are a few challenges as well. Inability to make proper demand forecasts, improper pricing strategies, and below-average customer service are a few challenges that most FMCG business owners know about. This is where a credible ERP like SAP Business One ERP solutioncomes into the picture.
So, what can Business One do to transform your ERP processes? Would it be a worthy investment to consider even if yours is a small business?
Benefits of SAP Business One ERP for small businesses in FMCG industry
Among the products sold at a store or delivered at a customer’s doorstep, even if one item has crossed its expiry date, it can take a toll on your business’ credibility. It is also a matter of customer safety especially when it comes to categories like groceries. An ERP solution like SAP Business One makes material tracking a breeze. Tracking batches and specific lots all become so much more practical even if you have several product lines to be monitored. The batch numbers can be documented and tracked from the point of origin all the way up to delivery. This can monitor factors like expiry date and generate reports regularly allowing you to take appropriate steps and avoid product recalls due to quality issues. The benefit of SAP Business One is that monitoring various unrelated attributes simultaneously becomes simpler.
Quality Assurance Support
Efficient quality management involves close evaluation of a combination of factors. Along with the quality of the products you purchase and sell, quality of services and the overall quality of operations also matter. With SAP Business One it becomes easier to document the quality assurance checklists and periodically evaluate compliance. This also helps in identifying possible upward and downward movements in product qualities. The overall delivery performance also becomes much better with Business One to take care of ERP. There is also a basic level of automation supported by Business One. With this you get to set limits for defects and minor decisions can be implemented when defect rate is higher than the set limit.
Pricing Your Products Right
Several small businesses struggle with pricing. And even large businesses who do not quickly adapt with market trends and tweak their pricing strategies end up facing huge losses. With SAP Business One ERP solution in place you can monitor your sales cycle accurately. This helps in better understanding the price of products being sold. This can help in identifying specific periods when sales volume increases. If there are seasonal changes or changes based on particular market trends, all these can be documented and relevant reports can be generated. Hand-in-hand with inventory planning this lets businesses plan the stocking up of products that actually bring profits. And finally, with the help of discount groups from Business One, it becomes easier to relevantly plan promotions to increase the sales volumes. You would be able to understand what kind of items sell better when there is a discount and what kind of discounts actually encourage customers to place an order.
Besides all the above-mentioned benefits, SAP Business One ERP solution also comes in handy to personalize customer experience. For the perfect customer care team and an inventory that does not cause losses, SAP Business One might be that one little reform your ERP strategy needs. The initial investment that any small business makes in order to get SAP Business One up and running for their operations will help save a lot of money in the long run.