- On November 28, 2017
- ERP, FACT ERP.NG, price history, sales orders
The sole purpose of a trading company is to serve its customers. To achieve this, you need to understand your sales process and marketing strategies. This is easy to do with a good ERP system. But what happens if you are having issues with your ERP?
It could hinder your workflow and productivity!.
FACT ERP.NG is designed to give you a total insight into how your sales team is performing. It helps to detect gray areas of your business and to rise above challenges in order to compete favorably in the marketplace.
FACT ERP.NG has wide range of features to help you solve your trading company’s issues, such as:
- Back to back order purchase order generation from sales order
In the past, global supply chains used to keep their entire product in stock, thus, tied down their capital. But this trend is changing as technology keeps evolving. Now, companies can hold the stock of their popular and fast selling products with long leads time on the back of sales order demand.
This way, your business can provide a wide range of products to your customers, whether you have them in stock or not. This will help you to sell more, other than selling only the items you have in stock. It will also reduce the capital that will be tied down in stock.
- Vendor Quotation analysis
One of the problems of trading companies in making purchases is that they have to think of where and from whom to buy their products. This is where a vendor comes in. It becomes convenient and easy when you have your vendors information in one place. This is what FACT ERP.NG offers.
For example, if you need to purchase a furniture for your office and you receive different quotations from vendors.
You can analyze these quotations in FACT ERP.NG, compare all of them and choose the best from the list.
- Product price history
Prices are not static. They change due to different business factors. This can make it difficult to manage the variations in prices in multiple locations.
With price changes, it is difficult to sell at a profitable price level and also manage markups by item, location or customers.
However, these problems can be solved. FACT ERP.NG has an in-built product price history for small and big businesses. This feature helps you to manage price changes and fluctuations with ease.
It also solves the problem of determining the right price of items.
- Partial delivery against sales orders
Sometimes as a trading company, it is difficult to ship a complete order at once. This can be as a result of items being on back-order, high business seasons like Christmas and thanksgiving, when customers’ credit limit has reached its limit etc.
In these scenarios, you can only ship part of the order, then complete the delivery later. This process is called partial delivery.
Partial delivery helps you to create a better customer experience. Instead of turning down and losing the entire order, you could always supply what you have in stock and later balance it up.
Partial delivery enables you to keep your customers. With it, you can work out an agreement with your customers that allow you to supply part of the product. This way, you can process large order in two or more deliveries.
This is actually not that simple. It involves coordinating the deliveries and having to advise your customer about the partial delivery.
You must also have a system that enables you to fulfill part of the order and later complete them. This system should enable you to send partial shipment sales invoices..
This is where you need the help of FACT ERP.NG. The partial delivery against sales order feature takes care of your partial delivery. The sales order status will only be completed when all partial deliveries are done. So, FACT ERP.NG already has partial deliveries integrated into it.
- Landed cost calculation
If you are an organization that imports goods for distribution or manufacturing, you need to have a good grasp of the landed cost of your products to help enhance your profitability.
Landed cost is defined as the full cost of items you have purchased once it is delivered to you. It includes costs of custom, duties, taxes, insurance, transportation, currency conversion, etc.
FACT ERP.NG can help you to calculate the landed cost of your products. It will help you to avoid confusion and unnecessary surprises when it comes to landed costs.
- Product re-order level control
Product reorder level control is the stock level of your products of inventory, at which your company is required to place an order for new supplies of the product. This largely depends on the average time it took the supplier to provide new items, maximum usage of the product during the replenishment time and safety stock requirement.
The product reorder level helps you to know when to place a new order for replenishment of a product. One of the risk factors in reorder level is being out of stock. You may not be able to supply the needed items when your customers want it. Not taking care of this can also lead to disruption in production and lost sales.
This is where you need FACT ERP.NG to take care of this process for you.
- Customer credit control
The success of any business is based on the cash flow. If you sell your products and your customers do not pay on time, it may lead to disruption. This may lead you to source for funds to keep the business afloat.
This is the reason why your business should have a credit policy to assess the creditworthiness of your customers. This will help you to know the payment terms your company is ready to provide and the amount of credit to offer your customers.
Using FACT ERP.NG helps you to know your customer’s credit standing at all times. It will help you to track your sales activities for customers that need credit hold evaluation when sales orders are entered in the system. It will show you the payment terms, credit limit, open orders, available credit, etc.
If your customer surpasses their credit limit, you will be notified that the order will be placed on hold until the customer is contacted and the issue is sorted out.
Running a trading company comes with lots of hassles. Using FACT ERP.NG will help you to resolve your trading business problems.