Jewelry manufacturing software
Do you really need an ERP/MRP software solution for jewelry manufacturing? What are the benefits of implementing an ERP system in the jewelry manufacturing business?
Manufacturing jewelry can go both ways – either you will be successful and rise on such demanding market, or you will miserably fail and end up with piles of hand-crafted beaded necklaces and bracelets that you will wear for years to come.
Whether it’s hand-made jewelry (which is highly appreciated due to its uniqueness) or serial manufacturing, they all have a few things in common: startup money for investing in raw materials (such as crystals, metal hooks, pearls, beads, strings), counter, web-shop or social media (for promoting and selling your stylish crafts), space where you will work from (office or your own house. There is also, of course, dropshipping option, but let’s be honest – where is the fun in that?), and a hella lots of ideas, creative enough to attract the buyers.
Manufacturing jewelry does not have to demand a lot of money for a start-up business, especially if it’s hand-made and you don’t use precious, hand-picked, hard-to-find metals to make them.
A counter in a mall, your own shop, web-shop or social media (Instagram, Facebook) for selling and promoting your products is a MUST! Since you must face the fact that you might not even earn enough to return your ‘invest’ money, the safest way to promote your crafts is through social media. Even if you boost an add, it won’t cost you as much as renting a counter in a mall. And everyone lives online anyway, so there are big chances that someone will see your post and click on it.
In your working space, along with your ideas, sketches, materials, it is always handy to have an ERP or MRP software which will help you to organize your materials (inputs) and your finished products (outputs).
Let’s say that you purchased 1.000 royal blue colored beads and 500 eggshell white ones. You need 33 blue ones and 24 white ones, plus one small golden tassel to make one bracelet. Days go by, people order bracelets, you make them, sell them and everyone is happy. Until one day Karen wants a royal blue/eggshell white bracelet for her daughter’s prom and you can’t make it because you don’t have enough beads in stock. Will Karen be satisfied with red instead of blue? NO! Her daughter doesn’t wear anything blue to the prom, you can’t just think she can wear whatever as a replacement! And now you are in the deep hot chilly sauce because you didn’t have one thing that is widely available these days – an inventory management software.
ERPAG as an ERP/MRP software gives you an opportunity to create recipes (bills of materials) for each bracelet, necklace, earrings, as well as minimum stock quantity for all raw materials and finished jewelry. If you had any kind of inventory control software, you would see on time when are you running out of raw materials and you would be able to order them on time, in case you run into another Karen-like situation.
With suitable inventory control and manufacturing tracking software solution, you will be able to enter expected delivery days on item level, thus you will always know when to expect your next delivery of components. So next time Karen attends her daughter’s wedding, you will most surely have all needed items stacked in your house.
Apart from the ordering and delivering, ERP software will sum up automatically your estimated cost (based on the average purchase price of your input materials) and you will be able to slap a price on that necklace you worked so hard on, in mere seconds! Based on your estimated cost and selling price, the system will also calculate your revenue. You will be able to track down your sales, purchasing, manufacturing and create custom reports to check out what’s going on with your business and at what particular time of the year it blooms!
I know that at the moment this sounds like a lot to handle (along with coming up with ideas, trying to fulfill all orders in time, take notes, receive calls and orders, post pictures on Instagram, make lunch, drive kids to school) and that it seems like a waste of time to spend a bit of time on computer to update your stock and orders, but it pays off over a longer time of period. Once you have all the numbers in front of you, you will easily see whether your hobby pays off.
ERP solutions are widely spread nowadays. From desktop version to cloud-based ones. Take your time and consider implementing one in your daily routine, it can only help you to grow your business, and there is nothing wrong with that. ERPAG is the most suitable software solution for small and mid-sized manufacturing companies. With an easy implementation (as an ERP/MRP and inventory control software) it doesn’t overwhelm your pretty head and overcrowded schedule with more obligations, yet it delivers all of the above-mentioned options and results.