1. Low Profit Margins Jewellery wholesalers usually have profit margins between 25% and 40%. Poor consignment management and high client retention costs can reduce these margins even more.
2. Tax Compliance Managing bulk jewellery transactions without proper tax tracking software can cause compliance issues. Automated tax calculation and integrated accounting are essential for efficiency.
3. High Overhead Costs Running a wholesale jewellery business involves significant overhead costs. A good system is needed to reduce these costs and streamline operations.
4. Building Customer Trust Building trust in the wholesale jewellery business is tough due to minimal face-to-face interactions. Improving the bulk ordering experience and customer relationship management is crucial for gaining trust and satisfaction.
The jewellery wholesale industry is changing fast. To keep up, wholesalers need advanced tools to manage buying, selling, and tracking inventory. Suntech Business Solutions offers SUNFACET Jewellery Wholesale Software, a powerful ERP system designed to improve operations, increase profits, and ensure compliance. This software tackles the main challenges faced by jewellery wholesalers.
Key Features of SUNFACET Jewellery Wholesale ERP Software
1. Bulk Inventory Management This software lets you control jewellery stocks with serialization, prepare consignment data record stock transfers, and categorize inventory accurately
2. Consignment Transaction Management This software helps track consignment transactions during transit to prevent inventory loss and improve supply chain efficiency.
3. Enhanced Customer Relationships This software helps capture customer data and transaction records to build strong business relationships. It also helps identify premium clients, plan personalized offers, and use add-ons for online bulk ordering and automated invoicing.
4. Size, Piece, and Purity Management
It helps wholesale jewellers to manage inventory based on size, units, and customer-specific purity with automated calculations. Handle loose diamonds by size and cut patterns, and manage certified diamonds individually.
5. 4C’s Management and Cost Breakdown
It helps wholesale jewellers to manage the quality of loose and certified diamonds with 4C’s (Cut, Colour, Clarity, Carat) and includes cost breakdowns for diamond jewellery.
6. Tax Compliance Management
It helps wholesale jewellers to automate VAT, GST, and other tax compliances, and support regional regulations like Hallmark, AML, and BIS.
7. Integrated Accounting
It simplifies record-keeping with integrated accounting features. It helps manage entries, accounts receivable and payable, cash flow, and tax deductions.
8. Email Marketing Support
It helps to record retailer data and send product catalogues and personalized offers via email. It also notifies customers about price drops and shares new designs and pricing catalogues.
9. Fix and Unfix Transactions
It automates unfixed transactions and adjusts for fluctuating prices accurately.
10. Wholesale Transaction Reporting
It analyses profits, stock movement, and client data with detailed reports. It generates sales, revenue, finance, and tax analysis reports.
Additional Features
- Barcode reader and RFID management
- Product cataloguing
- Jewellery certification
- Weighing scale integration
- Website and eCommerce integration
- Mobile applications
- Serviced Segments
- Gold & Silver
- Gemstones & Jades
- Pearl Jewelry
- Raw Materials
- Diamonds
- Certified Diamonds
- Gold Bars & Coins
- Scrap Management
With SUNFACET Jewelry Wholesale Software, you can enhance operations, reduce costs, and improve customer satisfaction. For more information and to learn how SUNFACET ERP can benefit your business, visit our website or contact our sales team today.
