Enhance sale & Reduce operation cost with Odoo in the Consumer Goods industry

April 26, 2021 by
Enhance sale & Reduce operation cost with Odoo in the Consumer Goods industry
Will Nguyen
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As the world begins its slow pivot from managing the COVID-19 crisis to recovery and the reopening of economies, it’s clear that the period of lockdown has had a profound impact on how people live. The new consumer behaviours span all areas of life, and these rapid shifts have important implications for retailers and the consumer goods industry.

ERP systems help consumer industries understand market trends. Additionally, it allows consumer marketers to identify opportunities in this competitive era of business. The consumer goods industry needs ERP the most because it handles a wide variety of products. It is essential to realize that consumer goods include all products that are directly consumed by customers such as electronics, edible goods and other products consumed daily. Instead of selling a lot of products, they face too much competition and complexity in managing these items. To be a successful consumer product brand, you must be able to add value to your products and services. Besides, it would help if you kept up with the changing needs of your customers. Earn more profits by reducing your operating costs.

Here are some of the main consumer goods modules that Odoo provides to users to improve their business system:

Odoo Inventory Management

Odoo is designed to manage dual inventories, allowing users to trace full suppliers to customer traceability easily. Accordingly, all data will be recorded and updated according to the user's settings. With Odoo ERP Inventory, Odoo ERP helps businesses simplify the inventory management process. This module handles daily operations in a warehouse and makes inventory management simple. Odoo Inventory app also allows tracking the inventory levels and inventory location in real-time from a centralized system. It's important to realize that tracking gives you the critical information needed to control the movement of items in real-time in stock. Odoo's inventory management plays a crucial role in supply chain management by monitoring and controlling the storage and movement of materials (input and output). Reduced chance of having incorrect inventory count and damaged inventory. This inventory module gives you more control over inventory, and stock will increase your competitiveness. The inventory module and the warehouse management module are responsible for managing multiple warehouses and multiple locations.

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Odoo Customer Relationship Management (Odoo CRM)

Unlike ten years ago, shopping on the street to visiting a store, shopping has changed dramatically. Especially now, by COVID-19, online shopping is almost a consumer choice. As consumer databases expand, retailers worldwide face many challenges such as updating customer experiences or maintaining customer loyalty. And it is not wrong to say that customers are everything in retail. That's why it is so essential to manage and nurture customer relationships. Retail ERP solutions play a significant role in customer management and retention. To better manage your customers, you need to keep their information up to date, and CRM helps you do this. First, inform purchase history and other customer information, then focus on the customers who buy the most frequently by donating vouchers to them; this is the best way to retain them and build a connection with them. 

Moreover, customer history gives you insight into customer habits, which ultimately allows you to create promotions, advertisements and deals according to their needs. CRM can be made a lot easier by automating processes like data storage, customer preferences, and operations. From there, the data will be analysed, and appropriate strategies based on that.

Odoo Sales Management

The survival of the business depends significantly on the sales stage. All activities in the business are intended to complement, promote an increase in sales, and gain profits for businesses. Therefore, the sales stage is critical and invested by firms. Most of the decisions made in any retail company are always to improve sales and increase profits.

First of all, ERP allows retailers to perform analysis of customer trends as well as past sales. As a result, they have a clear understanding of the product and its position in the market. Also, they learn about the popularity and demand of the product that helps them decide which products they should promote more and which should remove. Various sales factors are smoothly managed by one ERP system. In other words, ERP software helps to control prices, sales, offer discounts, and more. Another critical point of this module is the demand forecasting module, which allows you to track past trends and then will enable you to forecast future demand with higher accuracy easily, and it also makes it easy to manage salespeople in your team. More sale, more profit and more success; this is exactly what the consumer goods industry wants.