Consumer Goods
Integrated ERP solution for the consumer goods industry.
The goods either used or consumed by the end users are known as consumer goods. The goods that yield utility over time rather than being completely consumed in one use are known as consumer durables. Consumer goods are to be purchased repeatedly while consumer durables or non-consumer goods are not to be purchased repeatedly, they are made to last long.
Examples of consumer goods are food products, grocery items, disposable products, gas & oil, etc. Examples of consumable durables or non-consumable items are consumer electronics, appliances, furniture, jewelry, sports equipment, etc.
As consumer goods are to be purchased repeatedly, the supply of these goods is more frequent and their consumption is quite high. Consumer goods have distinct variants and categories and to manage these goods a robust inventory management system is required to manage the smooth supply of orders.
Odoo provides a robust ERP system covering all the fundamental functionalities required for managing the inventory, warehouse, orders, delivery, dispatch, and shipping process through the barcode. Odoo manages single inventory or a complex multi-warehouse environment, it has a fully automated stock replenishment system, plus it uses order points and automated RFQs to make your supply chain more efficient than ever. With a unique double-entry inventory system, every stock move can be tracked.
The consumer goods industry can be categorized into different segments, the manufacturers of consumer goods, the distributors of FMCG, and the retailers. At the moment we are not focusing on the manufacturing segment, we’ll focus only on the distributors and the retail segment.
Consumer Goods distributors (FMCG Suppliers)
The distribution segment consists of purchasing the products and supplying or selling the products to the retailers or selling the products in bulk to wholesalers. But if we focus in depth the gap between purchasing and selling is huge, there are multiple scenarios to be managed. If a product is to be purchased, the demand and the region where it is the most selling product, plus the season affect the sale. For e.g. a soft drink is a consumable product, the demand is high in the summer season and vice-a-versa in winter it is less. The soft drink flavors might not be favorable to all the regions, in some regions certain flavors are more in demand, and in other regions, the different flavors might be more accepted. To manage this Odoo provides inventory management with multiple product categories with multiple variants. The system also provides analytics to balance the demand and supply by considering multiple factors, the season, the region, product category, etc. This helps the distributor to manage the stock, focusing on the demand and supply ratio, so the business is never out of stock or gets overloaded with excess products.
Multi warehouse and multi-stock location
When it comes to FMCG distribution inventory management, there are thousands of products and every product might have multiple variants and different categories. To manage and store these products, huge warehouses with multiple warehouse locations are managed. These warehouses might be located in different geographical locations. Odoo provides all the basic operations to manage orders, define product stock location, picking, packing, labeling, dispatch, and shipping. In addition, damage and scrap goods can be managed separately. Drop shipping and landing costs are also managed in Odoo.
Reporting
The dashboard is the main control panel to overview the overall operations of the system. It can be configured at the user level with its own preferred options.
Inventory Forecast
Based on confirmed sales orders, purchase orders as well as internal moves, the forecast reports can be generated, which helps in balancing the stock for the forecasted demand.
Auto Replenishment
Based on the minimum quantity available in your warehouse, the system auto-generates the purchase order or RFQ (request for quotation). It never lets your warehouse run out of stock.