Jewelry business: progressive solutions

Why is it necessary to improve business processes in jewelry retail network?

First of all, automation and optimization of business processes help to reduce expenses and, as a result, to enlarge profits. Especially it is important now when there is a sharp competition in jewelry business. Complete record keeping of sales volume and financial flows will help a chief manager to get a profound analysis of current activities in order to make effective decisions and will allow being quicker and smarter than other competitors.

Reducing of expenses

Jewelry sales in general and retail market of this sphere particularly have several peculiarities which can enlarge expenses of a company. They are:

  • A special legislation which regulates jewelry trade providing criminal liability for violations;
  • Product accounting in two measurement units: in pieces and in grams (besides monetary value);
  • Complicated description of pieces of jewelry with a large set of characteristics (metal, fineness mark, size, gemological description of insertions, etc) which leads to extra time spending of employees;
  • Piece count of each item which can lead to extensive nomenclature and other difficulties during inventory;
  • Constant cooperation with a large number of suppliers in order to provide a wide assortment of products leading to increased workflow;
  • Shops of one retail network are usually located far from the office or even scattered in different regions being a reason for increased expenses on the management of these points;
  • A wide range of services provided by a shop besides sales;
  • Itinerant trade on exhibitions which require mobility during organizing.

Business processes of commercial and material values flow are the main reasons of expenses in jewelry network. Business process optimization and automation are aimed at reducing of such expenses. The main aim of implementation of the system of automation is to enlarge effectiveness of management, to provide the clarity of business processes, to accelerate attending to customers and to minimize potential problems with personnel or customers. However, the way to productive jewelry business can’t be successful without business process optimization. The thing is that automation of business processes is a complicated task which requires reorganization of work. And business process optimization is the best way to implement technological tools and to minimize risks connected with this implementation.

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