Building factories of the future with Machine Learning in manufacturing

Machine Learning in Manufacturing

As emerging technologies seep through business models of companies across industries, more prominent ones like Artificial Intelligence and Machine Learning are penetrating deeper than ever before. In today’s day and age, a company’s digital capabilities are shaping its core competencies. As the need for adaptable and flexible businesses grows, so does the requirement for predictive and prescriptive technologies that help leaders identify gaps and make better business decisions. By combining the powers of machine learning and ERP, leaders can now have mobile access to insights that can help them meet rapidly evolving business demands. From streamlining operations to enabling data-driven decisions, it has become clear that Machine Learning in manufacturing has the potential to truly revolutionize how the everyday world works.

A BCG analysis found that AI implementation can reduce producer’s conversion costs by up to 20% and up to 70% reduction of cost reduction resulting in higher workforce productivity. Manufacturing companies especially can optimize technologies like machine learning by combining it with their ERP system. Here’s how-

Machine Learning In Manufacturing

Machine learning in manufacturing

Supply Chain– Demand forecasting is one of the key issues where Machine Learning can help revolutionize manufacturing. By better-anticipating changes in demand, companies can alter their production program and reduce wastage. By learning from data related to products, and purchasing behaviors, machine learning in manufacturing firms supports the forecasting of customer demand. Consolidation of data from warehouses and your ERP system, machine learning algorithms can predict demand patterns and give out customer insights.

Production – Coping with production complexities and increasing liabilities of manufacturing processes is one of the key functions facilitated by machine learning. It enables machines in the factory to become self-optimized systems that keep readjusting their parameters based on data and analyzing algorithms.

According to BCG, which recently conducted a study to understand the impact of AI and ML on companies. Some steel producers are using AI to enable furnaces to autonomously optimize their settings. For many of them, Artificial Intelligence can analyze iron intake composition and provide the lowest temperature recommendations for stable process conditions, thereby reducing overall energy consumption.

Quality and maintenance – Machine Learning in manufacturing can drastically help reduce equipment breakdown and increase asset utilization with the help of predictive analytics offered by ML. As machines analyze and learn from data, business leaders can avoid breakdowns and replace worn machinery based on prescriptive analytics.

Process-based industries especially can optimize this to the fullest. Implementing machine-learning models that estimate the remaining time before equipment failures. The models consider more than 1,000 variables related to process parameters, material input and output and weather conditions.

Logistics- Machine Learning manufacturing factories will enable efficient supply of material and autonomous movement within the factory.
Machine learning algorithms can use logistical data like turn rates of parts, inventory levels, outflow and inflow of material —enabling warehouses to self-optimize their operations. For instance, an algorithm could recommend moving low-demand parts to more remote locations and moving high-demand parts to nearby areas for faster access.

Over the years Bista has been helping businesses reshape their digital processes. One of the key practices that we take pride in is our Machine Learning developers. They can seamlessly integrate your ERP system with intelligent technologies like Artificial Intelligence and Machine Learning in your manufacturing. Get your free machine-learning POC done today! Contact us for more details.

How To Overcome Odoo Performance Issues & Odoo Implementation Challenges

Odoo Implementation
  • by bista-admin
  • Jan 21, 2020
  • 0
  • Category:

How To Overcome Odoo Performance Issues & Odoo Implementation Challenges:

Odoo stands out as one of the most powerful and adaptable ERP systems on the market today. Its modular design and open-source foundation empower businesses to streamline operations across finance, sales, inventory, manufacturing, and more. However, as with any comprehensive platform, Odoo can present performance issues and implementation challenges if not managed properly.

That’s where Bista Solutions comes in. As a trusted, award-winning Odoo Gold Partner, we help businesses like yours harness the full potential of Odoo by fine-tuning system performance and delivering seamless, strategic implementations tailored to your unique needs.

Ensuring Smooth Transitions During Odoo Implementation

Here are some of the most common challenges businesses encounter when adapting to Odoo implementation:

Resistance to change: People tend to resist change, especially when transitioning to a new system. Users may be comfortable with the old system, even if it’s inefficient, and fear the learning curve of a new ERP.

Inadequate training: Without adequate training, users may struggle to utilize Odoo to its full potential, leading to frustration, mistakes, and reduced overall productivity.

Communication gaps: When leadership fails to clearly communicate the benefits of Odoo and the implementation process, it can create confusion and foster resistance among team members.

Data migration issues: Data migration from the old system to Odoo can be a complex task. If not handled correctly, it may result in inconsistencies and errors that disrupt operations.

Customization complexities: While Odoo provides extensive customization options, this flexibility can sometimes overwhelm users. Striking the right balance between customization and ease of use is essential for a smooth experience.

Top Odoo Implementation Challenges and How to Overcome Them

  1. Improper Requirement Gathering

Implementing Odoo without a clear understanding of existing business processes can result in misaligned goals and ineffective solutions.

Solution:

  • Gain a deep understanding of business requirements
  • Involve cross-functional teams to map out current workflows and future needs.
  • Use Business Process Modeling (BPM) tools to document and validate expectations.
  1. Poor Data Migration Planning

Inaccurate or inconsistent data can delay your go-live schedule and undermine user confidence.

Solution:

  • Perform data cleansing and normalization before migration.
  • Use ETL tools or Odoo’s built-in import wizards strategically.
  • Validate migrated data with stakeholders before go-live.
  1. Lack of Change Management

Resistance from end users can hinder the success of your Odoo implementation.

Solution:

  • Create a comprehensive training and onboarding plan to ensure users are well-prepared.
  • Create champions within each department to support adoption.
  • Provide ongoing support and documentation for smooth transitions.
  1. Underestimating Customization Needs

Off-the-shelf Odoo modules may not always fit complex or niche processes.

Solution:

  • Partner with an experienced Odoo Gold Partner like Bista Solutions.
  • Prioritize modular customization with scalable architecture.
  • Leverage Odoo Studio for quick UI changes and custom development for deeper logic.

Fix Odoo Performance Issues With Bista Solutions

At Bista Solutions, we specialize in identifying and addressing performance issues in Odoo, ensuring your ERP system operates smoothly, efficiently, and scales effectively. Below, we highlight key strategies to optimize Odoo performance and explain how partnering with an expert provider like Bista Solutions can significantly improve your results.

Key Strategies to Fix Odoo Performance Issues

  1. Caching

Enhance data access speed by caching frequently used information. Caching minimizes the need for repeated database queries, leading to a substantial improvement in response times for users.

  1. Code Optimization

Improve the performance of your custom code by reviewing and refactoring inefficient scripts. Streamlined, optimized code consumes fewer server resources and executes more quickly, resulting in a faster, more responsive system.

  1. Database Tuning

To enhance your database performance, focus on optimizing slow queries, eliminating redundant or excessive data, and implementing proper indexing strategies. 

  1. Hardware Upgrades

Performance issues are often tied to infrastructure. Upgrading to faster CPUs, SSDs, and adding more RAM can significantly boost system responsiveness and support a higher number of simultaneous users.

  1. Load Balancing

By implementing load balancing to distribute user traffic across multiple servers, you can improve response times, prevent server overload, and ensure high availability and system stability. 

  1. Real-Time Monitoring

Monitoring is like a health check-up for your system. By using Odoo’s built-in tools or third-party solutions, you can track key performance metrics, identify issues early, and prevent downtime before it becomes a problem.

  1. Optimized Server Setup

By optimizing your hosting environment for high availability, fault tolerance, and scalability, you ensure that your system remains reliable, resilient, and able to grow alongside your business needs.

  1. Software Configuration Tweaks

Tuning Odoo’s internal configuration can provide immediate performance improvements. By adjusting worker processes, thread counts, and connection limits, you can optimize system efficiency and ensure smoother operation under varying loads.

Continuous Improvement and ROI Maximization with Bista Solutions

Measuring Odoo ERP performance is an ongoing process, not a one-time task. Here are some best practices to follow, with Bista Solutions offering expert support along the way:

Stay Informed: Keep up with the latest Odoo updates and patches. Bug fixes and performance improvements are frequently included in new versions. Bista Solutions can help you stay updated and ensure smooth transitions to new releases.

Regular Maintenance: Perform routine maintenance tasks, such as database vacuuming, data archiving, and code optimization, to keep Odoo running smoothly. Our team at Bista Solutions can assist with ongoing maintenance and fine-tuning of your system.

Scale Smartly: As your business grows, ensure that your Odoo infrastructure scales accordingly. Consider both horizontal and vertical scaling options to accommodate increased workloads. Bista Solutions can guide you through this process, ensuring your system grows seamlessly with your business.

Employee Training: Invest in training for your employees to ensure they are using Odoo efficiently. Well-trained users are more likely to leverage the system’s full capabilities. Bista Solutions offers tailored training sessions to empower your team and enhance productivity.

Consult Experts: When in doubt, consult Odoo experts or trusted partners like Bista Solutions. We can provide guidance on performance optimization and best practices to ensure your system is running at its best.

Why choose Bista Solutions as an Odoo Implementation Partner?

Experience: We have a proven track record of successfully delivering projects across various industries and business sizes.

Techno-functional expertise: Our team of Odoo experts specializes in customization, integration, migration, and maintenance, offering both technical and functional guidance throughout the project lifecycle.

Industry knowledge: With a deep understanding of various industries and business processes, our certified consultants can recommend tailored best practices and solutions to meet your unique business needs.

Customization capabilities: We have developed custom modules and integrated Odoo with third-party applications to ensure the system fully meets your unique requirements.

Support: We offer comprehensive support services, including training, troubleshooting, and maintenance, to ensure your system operates smoothly.

Communication: Our project managers, consultants, and developers will maintain clear communication with your team throughout the project, keeping you updated on progress and any issues that may arise.

Cost-effectiveness: We offer cost-effective solutions and share the pricing with a clear breakdown of costs before the project starts.

Overcome Challenges with an End-to-End Odoo Implementation Partner: Bista Solutions

A successful Odoo implementation can bring significant benefits to your business by streamlining operations and boosting efficiency. By developing clear strategies, understanding the process, anticipating challenges, and managing costs effectively, you can ensure a smooth transition to Odoo. Partnering with Bista Solutions makes this journey more efficient and seamless. From defining objectives to managing post-implementation support, every step plays a crucial role in ensuring the overall success of your project. Bista Solutions’ expertise and support will help guide you through each phase of the implementation, ensuring you maximize the full potential of Odoo for your business.

Connect with our Odoo experts now and see how we can implement this ERP software to drive business success.

How Meat Processing ERP Solution Can Transform Your Meat Processing Business

Meat Processing ERP

Meat processing is an industry that involves the transformation of animal carcasses into various products such as cuts of meat, sausages, and ready-to-eat meals. This industry is characterized by high volumes of raw materials, strict regulations, and the need for consistent quality control. As such, meat processing companies require advanced technology to streamline their operations and improve efficiency. Enter the Meat Processing ERP (Enterprise Resource Planning) system. An ERP is a software solution that integrates various business processes into a single system. This includes functions such as procurement, inventory management, production planning, quality control, and financial management. Within the meat processing industry, an ERP can help businesses manage the complexities of their operations more effectively, resulting in numerous benefits. The Meat Processing Software is a tool designed for food producers and distributors that helps them keep track of important company information and processes. It gathers real-time and accurate data from different areas of the business like finances, sales, inventory, processing, and transportation. With this information, decision-making and forecasting become clearer and more transparent.  

A Meat Processing ERP means Company-Wide Visibility

Meat processing can be a tough nut to crack as there are a lot of factors that make it complicated. You’ve got to deal with varying quality and quantity of raw materials, long processing times, and the challenge of managing product yields, especially when it comes to variable or fixed-weight items. But here’s the good news: our Meat Processing ERP software is a game-changer. It gives you complete visibility on incoming raw materials and ingredients and offers a specialized solution that brings together data from every aspect of your business. This means that you can make informed decisions in real time while keeping an eye on costs, and ensuring that you’re in compliance with all regulatory requirements. Plus, you get to maintain quality control, which is essential in the meat processing business.  

A Meat Processing ERP means Complete Traceability

Our Meat Processing ERP software offers comprehensive product tracking solutions for businesses of all types, from finished value-added products to simple cuts of meat. With our lot traceability system, you can easily manage inventory information and recall procedures. Whether you need to trace a single ingredient or batch within seconds or identify and isolate production for further testing, we can help. This includes:

  • The ability to view current and incoming inventory available for sale
  • Set your own lot attributes
  • Track expiration dates by individual lot
  • Save time with a detailed filter and search functionality
  • Fast-track and trace products at all stages of production
  • Set minimum expiration date by customer
  • Calculate storage costs, and create detailed lot tracing reports
  • And much more

With our ERP, you can streamline your inventory management process and improve your overall efficiency.  

A Meat Processing ERP means Enhanced Quality Control 

Meat processing companies are subject to strict regulations regarding food safety and quality control. Our ERP solution can help automate quality control processes, ensuring that all products meet the necessary standards. This includes tracking the source of raw materials, monitoring processing conditions, and testing finished products for contaminants.  Our ERP can also provide real-time data and analytics, enabling companies to quickly identify and address quality issues. This includes ensuring that our software solution is compliant with SQF, HACCP, GFSI, and FSMA regulations. It also includes being able to track our allergens, establish QC tests with approved and acceptable tolerance levels, implement product holds for quality inspections, provide an effortless recall process, as well as develop inspection plans/checklists/quality control tests using our ERP.   

A Meat Processing ERP and Improved Inventory Management

Meat processing companies deal with large volumes of raw materials and finished products, and an ERP system can help track inventory levels accurately. This ensures that companies always have enough stock on hand to meet customer demand, and can help prevent stockouts or excess inventory. Additionally, our ERP can help with forecasting and planning, allowing companies to optimize inventory levels and reduce waste. Furthermore, our cloud-based technology enables real-time data updates, ensuring that your team has access to the most current information to effectively manage FIFO stock rotation, expiration dates, and allergen information for numerous products.  

A Meat Processing ERP means Streamlined Production Planning

Meat processing is a complex process that involves multiple stages, including slaughtering, processing, packaging, and distribution. Our tailored ERP can help companies in the Meat Processing space plan and schedule production more efficiently, considering factors such as raw material availability, production capacity, and customer demand. This can help reduce lead times, improve on-time delivery, and minimize production bottlenecks.  

A Meat Processing ERP means Better Financial Management

A meat processing ERP software system can help meat processing companies manage their finances more effectively. This includes tracking expenses, invoicing customers, and managing accounts payable and receivable. Additionally, our ERP can provide real-time data and analytics, allowing companies to monitor their financial performance and make data-driven decisions.  

A Meat Processing ERP means Improved Collaboration

Our meat processing ERP software can help improve collaboration and communication across different departments within a meat processing company. This includes sharing information on production schedules, inventory levels, and quality control results. By streamlining communication and information sharing, our ERP can help reduce errors, improve efficiency, and enhance overall productivity.

A Meat Processing ERP means Following the Compliance

Our integrated food safety and quality control for regulatory compliance centralizes record-keeping automatically and provides the full traceability needed to assure consumers and satisfy regulatory requirements through the entire supply chain. By utilizing our software’s integration with Genesis R&D Food Formulation and Labeling Software, you can guarantee compliance with FDA and other regulatory standards. Beyond that, you can also: 

  • Adjust recipes and formulas dynamically to match package labeling requirements.
  • Generate lot traceability reports quickly.
  • Obtain useful information through a comprehensive audit trail.
  • Produce nutritional fact panels that comply with FDA regulations.
  • Ensure compliance with all FDA mandates for every lot by staying within parameters.

Bista Solutions’ Meat Processing ERP means ongoing Support

We understand that software updates can be overwhelming for some people. Fortunately, Bista Solutions has offices on-shore and off-shore. This means we have people working around the globe and around the clock.   What does that mean for you? On-going support services 24/7, for any issues or inconveniences you may face.  Additionally, our software solution for the meat processing industry is based on the robust and intuitive Odoo ERP, for which we are Gold Partners and 5x Best Partner winners in North America. So rest assured, our team are experts and can easily assist you throughout any given process; from inquiry to training and more.

Connect with Meat Processing ERP Experts

Ultimately, a meat processing ERP system can offer numerous benefits to meat processing companies. From inventory management to production planning to quality control, our ERP can help companies manage the complexities of their operations more effectively, resulting in improved efficiency, enhanced quality control, and better financial management. If you’re in the meat processing industry and looking for ways to streamline your operations, Bista Solutions’ Meat Processing ERP software solution may be worth considering. Connect with our subject matter experts at Bista Solutions, and let’s talk about how we can optimize your business together.

Embrace Machine Learning Software And Add Value To Your Business

With applications ranging from heavy industry to education, Artificial intelligence (AI) and machine learning (ML) have a rapidly growing presence in today’s world. From streamlining operations to enabling data-driven decisions, it has become clear that this technology has the potential to truly revolutionize how the everyday world works. ERP solutions too, have solved multiple business problems across industries. If these two technologies in isolation can alter so much, imagine what their combination could do? Machine Learning Software’s can get the most out of your manufacturing, operations etc.

The combined power of Artificial Intelligence and Machine Learning can now help us build systems that can improve their own performance by learning from data over time. Which is why companies across different verticals have now started utilizing AI and ML systems for maintenance, repair, analytics, fraud detection and customer service to effectively harness the potential of their information and tackle highly complex problems.

ERP & Machine Learning

 

  1. Robust Customer Relationship Management

While Machine Learning Software can analyse previously recorded data, the ERP can provide this data-set enabling optimization of historical data to predict trends. By providing robust sales forecasting. Machine Learning Software can predict when you will sell your highest number of products. what those products will be and when you’ll have to stock up your inventory in the near future. This can not only help your sales team to understand consumer psyche and target geographies, but also help in highly accurate sales performance reviews.

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  1. Strengthened Manufacturing Processes

One of the key pillars of a successful business is seamless production processes. By enabling optimal utilization of factory resources and capacity management, Machine Learning software can help build a seamless manufacturing process and drastically reduce costs by improving operational efficiencies.

While ERP can help integrate all processes into one simple system. Machine Learning can identify any processes or practices that are inefficient. Be it mechanical faults or others, Machine Learning and ERP together can help leaders implement a viable solution that will save resources. Moreover, Artificial Intelligence coupled with Machine Learning can identify processes that are using an unacceptable amount of energy and thus reduce the consumption during the manufacturing process.

  1. Streamlined Supply Chain Management

The implementation of Machine Learning in ERP can strengthen key elements of the supply chain – inventory management. One of the solutions that Machine Learning ERP can offer is improving a business’ logistics process, inventory management, asset management, and supply chain management.
By using Machine Learning Software business leaders can accurately predict demand, optimize production schedules and enable better forecasting of inventory. So, from how much and what type of product is needed, efficient shipping routes up and predicting possible complications. Machine Learning ERP integration helps increasing efficiency of the supply chain throughout.

  1. Accurate System Quality Management

ERP systems and Machine Learning Software can together produce advanced root cause analytics which allow businesses to anticipate an expected software failure. System failure can lead to high labour and financial costs affecting your business’s productivity, time and money. With the help of Machine Learning Software, your ERP software can predict and prevent a software from shutting down and diagnose an upcoming problem.

  1. Valuable Consumer Insights

Companies with an embedded Machine Learning Software and ERP process can not only generate highly accurate business insights, but also leverage hyper-targeted consumer analytics. The powerful combination can help you gather data as deep as geography-wise purchase patterns of certain customers enabling customized product suggestions to them.

Big corporations and traditional businesses alike believe that Artificial Intelligence and Machine Learning is the future and have expressed aggressive plans to leverage its potential rather than wait for their industries to get disrupted. There is also an increased acceptance that combining these emerging technologies with their current ERP systems can lead transformation changes in business across.

Over the years Bista has been helping businesses reshape their digital processes. One of the key practices that we take pride in. Is our Machine Learning developers who can seamlessly integrate your ERP system with intelligent technologies like AI and ML. Get your Free Machine Learning POC done today! Contact us for more details.

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How furniture manufacturing software can transform your furniture business

Furniture Manufacturing Software

Leading a furniture manufacturing business involves potentially future-changing decisions. From vendors to equipment, your furniture manufacturing business differs from nearly every other manufacturing organization, and your path to business growth is unique. This is why your preferred furniture manufacturing software solution should also have answers to all your unique needs. Specially designed for manufacturers, Odoo business management solutions provide the foundation manufacturing companies need to streamline critical business processes. Manufacturers of tomorrow require a foundation that enables resilience, agility, and transparency. Odoo Furniture manufacturing Software frees you to focus on innovation rather than the burden of maintaining hardware and software.

Since the furniture manufacturing industry is unique and requires the flexibility to adapt to today’s ever-changing business environment, we listed down a few reasons why Furniture Manufacturing software is the answer to all your questions:

furniture manufacturing software

Real-time, cross-channel inventory visibility with Odoo furniture manufacturing software

Multiple, disparate legacy applications disintegrate your data and do not give you valuable insights. With Odoo furniture manufacturing software, you can bring your data into one customizable system with the transparency of your distribution center, furniture showrooms, outlet centers, and eCommerce channels.

Odoo offers geography-agnostic control and real-time visibility over your supply chain globally or locally. Apart from this you can also increase transparency with suppliers, contract manufacturers, and vendors and serve as the ultimate go-to Odoo furniture manufacturing software.

Streamlined order management and procurement processes with Furniture Manufacturing Software

With Odoo Furniture Manufacturing Software, you can deliver true omnichannel shopping and service experiences.

Odoo’s advanced order management solutions enable companies to capture this omnichannel experience by delivering the perfect order every time with minimal effort. Enabling businesses to fulfill orders from anywhere on time so they can delight customers with a better shopping experience.

Empowered sales associates and customer service

Whether it is B2B OR B2C, Furniture manufacturers today sell through many channels. Odoo commerce capabilities have been designed specifically to seamlessly allow your business to grow and expand sales through any channel.

Your sales team records every interaction with customers to provide the best customer service with to help of Odoo CRM, from marketing campaigns to sales to the delivery experience to service and support in a single transparent Odoo CRM system.

Odoo manufacturing CRM delivers powerful capabilities that strengthen customer relationships and drive the complete customer lifecycle. Odoo CRM provides a seamless flow of customer information to everyone in the organization. It empowers them with the entire customer lifecycle from lead through to opportunity, sales order, fulfillment, or even support. Unlike traditional CRM solutions, Odoo CRM includes powerful order management, sales performance management, and partner management capabilities.

Intelligent delivery scheduling

Gain valuable insights from Odoo Furniture manufacturing software by gathering data across the organization to empower employees with dashboards and tools to increase productivity.

Odoo’s reliable, secure, & scalable Suite delivers the expanse and customization you need to meet your current & future needs.

Odoo’s cloud-based ERP and omnichannel commerce software suite is the best choice for furniture manufacturers wanting a complete business solution. Its comprehensive functionality, including CRM, HCM, and eCommerce, provides manufacturers with the ultimate furniture manufacturing ERP software needed to run a modern business.

Bista is an ERP consulting company with moreover 3 decades of industry expertise in Odoo implementation across industries. Our expertise lies in implementing furniture manufacturing ERP software and tailoring them to suit the needs of companies.

Contact us to learn more about how we can help. You can also forward your inquiry to sales@bistasolutions.com. Book a Free Demo Today!

How a predictive analytics software can help retail businesses stay ahead of the curve

Predictive analytics software

As consumers gain more power and awareness, they will opt for companies that will actively listen to them, respond to them with agility and give them the freedom to tailor capabilities according to their needs. By adopting a retail ERP system, small and medium enterprises can eliminate manual errors from their supply chain and also improve the efficacy of their services. But more so, they provide superior customer service with predictive analytics.
Predictive analytics software uses a variety of tools and techniques to analyze present and historical facts to make predictions about the future. In a field where companies succeed by effectively uncovering what customers would like next, predictive analytics software can be the competency that defines a strong revenue stream and fixes a dwindling sales pool.

Increase engagement and personalization
One of the biggest difficulties retailers face in a commoditized industry is turning single one-time shoppers into loyalists of their brand. In fact, the amount of data a single sale produces today can help create significant insights that can be used to convert consumers to customers. Successful massive retailers are already thriving upon this to track users’ habits, search histories, shopping preferences, and more. By incorporating retail analytics into predictive models, you can predict customers’ needs and foster a for a personalized experience with respect to each distinct customer.

Keep a track your inventory
Many retail ERP systems make suggestions based on historical events and do not have a foresight into the future. One of the key offerings of predictive analytics software is to provide intelligence on stock-levels and inventory.
Using a robust predictive analytics software helps you to not just reduce expenses on inventory, but also to ensure that the stock you’re buying converts into sales instead of sunk costs.
Retailers who implement analytics can channelize their efforts in emerging trends, highlighting high demand, and optimize delivery to ensure the right inventory goes to the correct store. Predictive analytics software can also help you anticipate customer preferences and offer their choice of products to them. It also helps you reduce your inventory expenditures and streamline your supply chain.

Make smarter pricing decisions
Instead, using predictive analytics can help retailers find the best time to start reducing prices. According to some recent reports, gradual price changes are always more effective than sudden spikes. Retail ERPs and their predictive analytics can monitor competitor prices, inventory levels, and collate demand to determine prices. A proactive retailer who moves prices can differentiate their store analytics and give them better control over promotions by staying a step ahead of the industry.

In today’s day and age, retail is shaped by customer anticipation and personalization. Retailers that innovate and harness ERP have a sharper competitive edge over all others. Over the years, Bista has worked with multiple retail clients. Click here to know more! Get your free demo with Bista Solutions now! Contact us 

What is Odoo accounting module – Why it’s time for you to implemet Odoo Accounting?

odoo accounting

What is Odoo Accounting Module?

 

Odoo Accounting module is state-of-the-art accounting software that tracks your accounting & finances with utmost accuracy. It helps you fulfill all your accounting needs like payments and invoices, bank reconciliations, reports also much more. The standard accounting functionality built into an out-of-box application from the Odoo accounting module covers all areas of accounting. Odoo accounting can handle a variety of complexities of accounting modules. The best part is the ease of use also the recording of transactions in the ledger is simple to understand. The standard application covers end-to-end Order-to-Cash and Procure-to-Pay processes. The accounting application easily integrates with other modules to gather data and also allows accurate reporting with a variety of parameters.

Features of Odoo Accounting Module

 

Analytic accounts 

To integrate your company’s processes effectively, you need a common way of referring to each user, service, or document. This standardization is provided by analytic accounts (or management accounts, or cost accounts, as they are also called) in the Odoo accounting module.

Odoo accounting analytic accounts can be a useful management tool, at the center of most system processes. It allows users to run ad-hoc reports and in-depth data analysis to increase efficiency and reduce time consumption for business activities. This results in a better understanding of clients, improved business processes, and also reduces risks.

Path: Accounting → Configurations → Analytic Accounts & Analytic Tags

odoo accounting application module

 

Customization of Partner Credit Limit

Partner Credit limit module in odoo accounting module allows you to set a credit limit on your customer. After assigning a Credit Limit, the user will be able to create a sales order / Invoice for the partner. On crossing the credit customers have to take approval from an accountant.

Company: Fulton

odoo accounting module

 

odoo accounting

Early Bird Discount 

Standard Odoo accounting module doesn’t support Early Bird discounts. We at Bista, have designed this functionality to make it possible to offer early-bird discounts and record accounting entries seamlessly. This customization splits the invoice into multiple lines, which allows your business to easily understand and track its improvement in cash flows. 

Tax Cloud 

The Tax Cloud integration allows you to calculate the sales tax for every address in the United States and keeps track of which product types are exempt from sales tax and in which states each exemption applies.

Tax Cloud can also calculate sales tax in real-time for every state, city, and special jurisdiction in the United States.

Company: Atlanta Waterjet

odoo accounting

NFS (Not Sufficient Fund) 

When your customer pays you by check and if it gets bounced for the Not sufficient funds. You can charge your customer with bank charges and penalties. You can even use RPA & odoo accounting module to automate the maximum process. 

odoo accounting

Real-Time WIP Journal Entries 

Odoo accounting module Maintains WIP journal entries. It only gets posted on the manufacturing order’s completion. If our client requires real-time WIP journal entries for their accounting needs, we create the end monthly account that can analyze WIP journal entries, and also this is much required for financial control and the decision-making process.

Company: 180 Smoke

odoo accounting

WIP Valuation Report 

WIP Valuation report is important to know the status of RM which is in the production unit. At any given point, the account would like to review the WIP valuation. This will be based on real-time WIP journal entries customization. 

Gift Card Program and its Accounting Treatment 

Gift card sales also their redemption are very popular in western countries. It is not readily available in the Odoo accounting module. So, we customized this feature for one of the projects. It enables revenue recognition functionality for selling a gift card. During selling a gift card, it is the liability to the company as a product is not handed over to the customer. Once, the gift card will be redeemed, it is considered an actual sale and liability will be written off.

odoo accounting

Payment Currency Freeze 

The payment currency freeze module allows you to process payments in the selected currency. Standard Odoo accounting module enforces to pay with company currency and if you select the journal with a different currency it will calculate the exchange difference. This module eliminates unnecessary foreign exchange when you can pay the amount with the selected currency.

Company: Linhaw

odoo accounting module

If you are looking for odoo implementation or migration contact us by filling out the form.

 

Why you need to move away from your legacy software and switch to Odoo ERP

legacy software vs Odoo ERP
  • by bista-admin
  • Oct 23, 2019
  • 0
  • Category: ,

Legacy Software vs Odoo ERP

The market for enterprise software platforms has grown rapidly over the past five years. In fact, Gartner even predicts that the ERP market will be worth $44 billion by 2022. As this market grows, so does the need for more flexible and easily deployable software solutions. Furthermore, businesses are now demanding rapid digital deployment models, driving the need for fundamental changes to organizational delivery models with a renewed focus on business relevance, growth enablement and speed to market. While legacy software systems may be within the comfort-zone of a large or medium scale business, it is imperative for decision-makers to point the futuristic telescope to systems like Odoo that help reduce manual labor and increase business efficiency as they act as the one-stop-shop to all business needs.

Legacy Software vs Odoo ERP

 

 

We at Bista profoundly believe in empowering businesses with powerful tools like Odoo, and a vital part of that is to ensure that organizations can keep pace with the rapid development of digital solutions and utilize it effectively and consistently. Here are three reasons why you need to replace legacy software systems with Odoo-

  1. Expensive maintenance-

According to Forrester and Gartner between 50% and 90% or more of a typical IT budget is spent on maintenance of IT implementations, not innovation. Which then leaves only a fraction for meeting business needs.

  1. Not scalable –

Your legacy software does not scale with external changes – Your ability to compete is reduced manifold if you’re running an aging version of AS400 that was designed for when businesses grew incrementally — market by market, country by country, over years and decades. The old way of doing business meant implementing multiple ERP instances and databases for each market. However, the new way isn’t.

  1. Inaccessibility of data-

Your legacy software was designed for when work was done in the office cube, and consumer computing and business computing were clearly separated, which is why your decentralized businesses cannot be accessed anytime/anywhere-. Using outdated legacy software systems means either completely giving up on accessing your valuable information from anywhere outside of your office. On the other hand, web-based cloud ERP applications like Odoo ERP are optimized for bringing the world of mobile computing together with ERP, enabling your employees to monitor and manage the business from anywhere on any device. For example, without any IT setup work, Odoo can be accessed from anytime, anywhere via any web browser, whether Chrome, Safari or Firefox, and any mobile device, whether iPads, iPhone, Androids or whichever device hits the market next.

It’s not just workers that are becoming mobile. Businesses as a whole are becoming more distributed. Today’s businesses are running operations in multiple countries and maximizing efficiency with offshoring and remote workers. But last generation’s ERP was never designed with this in mind. Odoo ERP and cloud computing enables the distributed ‘elastic’ business—enabling your workforce to access applications from anywhere across the globe, offshore as it makes sense, and scale up and down seamlessly, whenever needed.

Beyond just replat forming legacy software systems, core modernization involves creating a road map for building a next-generation ERP that incorporates—rather than merely enabling—digital, cloud, and other macro forces.

Make your switch to Odoo now and see the difference!

To know more about Odoo ERP, Click here

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Best Inventory Management Software For Your Business

Inventory management software

Inventory Management Software

Businesses that properly manage their inventory generate the highest income and customer satisfaction for the least amount of stock investment. And, as those successful businesses demonstrate, excellent inventory management relies on data from a variety of sources, including purchases, reorders, shipping, warehousing, storage, receiving, customer satisfaction, loss prevention, stock turnover, and more. Fortunately, Organizations can better fulfill consumer demand and prevent overstocking or stockouts by keeping track of all incoming and outgoing products with the use of inventory management software and help you expand as your business grows, giving you a competitive advantage.

Common Inventory Management challenges faced by every business:

  1. Using a spreadsheet to track inventory is time-consuming, redundant, and error-prone.
  2. Maintaining warehouse effectiveness is a labor-intensive process with several phases.
  3. Customer demand fluctuates often, making it challenging to develop the best order strategies to meet demands.
  4. Inventory is challenging to find or identify in the warehouse, which results in shipments that are incomplete, incorrect, or delayed.
  5. Global supply chains are always changing, which makes it difficult for you to plan and manage your inventory.
  6. Overstock negatively affects a company’s cash flow and causes issues with storage and loss of inventory. 

Features you should consider in your Inventory Management Software

  • Advanced User Interface- One of the most important features is the simple user interface, which allows you to access your dashboards and follow instructions from anywhere.
  • Inventory tracking- To track each product’s mobility while keeping a record of its activities with a special barcode.
  • Multi-warehouse Management- It should make it simple to handle items across numerous sites and track inter-warehouse transfers.
  • Advance Routing – Smart Routing system that allows you to distribute items, and orders, straight to customers from your source.
  • Push and Pull Routing – a feature that designs your product routes to automate transfer orders between warehouses or locations.
  • Alert and schedule- Create product or supplier alerts for salespeople and a scheduler that will initiate all actions for you depending on product availability and order estimates.
  • Stock Management – Feature to automatically start calculating future demands and trigger a request for quotation.
  • Product Categorization- Categorize products that have different behaviors: physical products, consumables, services, and digital products to create a custom bundle and maximize sales.
  • Reporting and analytics- Obtain product availability forecasts based on actual sales orders, procurement orders, manufacture orders, and internal movements with Inventory management software.
  • Inventory Valuation- Your Inventory management software should support costing techniques and landing costs for accurate inventory value.

Powerful Integrations with the Right Inventory Management Software-

  • Accounting- Integrate your accounting software with your inventory management software to automate the real-time effect of inventory activities.
  • Purchase – With only a few clicks, you can automate the proposal of purchase orders and manage the items that come from your suppliers.
  • Quality – Create quality control points simply and activate quality alarms.
  • Sales- Plan all of your inventory activities automatically depending on sales orders.
  • Shipping Connectors – You can monitor and trace your packages by integrating the shipping connections.

Benefits Of Inventory Management Software – 

  •  Produces reports on deadstock, shortages, surplus inventory, and inventory turnover.
  •  Creates, monitors, resolves, and links sales and purchase orders.
  • Natively integrate with or include modules for necessary functionalities.
  • Eliminate Manual Data entry.
  • Track loading goods and stock.
  • Allows staff to make informed decisions about material requirements.
  • Give a summary of all inventory transactions.
  • Displays the status of picking and packaging.
  • Save time and money.
  • Increased Customer Satisfaction. 

Why Choose Us?

  • Partnership – We are valued as Odoo Gold partners.
  • Expertise- We have Over 3 decades of industrial and technical competence.
  • Versatility- We have completed 350+ deployments across several industries and sectors, allowing us to provide you with the most customized service available.
  •  Award winner- We have won “Best Odoo Gold Partners” four times (2022, 2021, 2018, 2016 & 2014)
  • Expert Developer Team- Our team consists of 250+ seasoned Odoo professionals with years of experience who are experts in their fields, vigilant about deadlines, and dedicated to going above and beyond for clients.
  • Support- Our support team is available around the clock to help you

To know more about Inventory Software Management (Odoo inventory software) or book a demo, Contact us today!

Harnessing the Power of SME ERP Solutions for a Big Transformation

SME ERP

What is SME ERP?

Automation is a key force that’s making a big impact in all kinds of industries, from big companies to Small and Medium Enterprises (SMEs). This shift to automation is not just helping SMEs compete better, but also helping them do well in the digital age. Drawing upon an intricate understanding of the SME operational landscape, we have curated robust SME ERP Solutions. Our ERP Solutions are designed to make things smoother in their supply chains, helping SMEs be leaders in coming up with new ideas. We’ve already helped various  SMEs with our tailored software solution, which has been a big part of making them grow and work more effectively.

Importance of Efficient Business Operation  for Small Medium Enterprises  (SME)

  • Resource Optimization: SMEs often have limited resources in terms of manpower, budget, and infrastructure. Efficient operations ensure that these resources are utilized optimally, minimizing waste and maximizing productivity.
  • Cost Savings: Streamlined processes lead to reduced operational costs. By eliminating redundancies, unnecessary steps, and manual errors, SMEs can save money and allocate their budgets more strategically.
  • Competitive Advantage: SMEs need to compete with more prominent players. With Business Operation efficiency SMEs respond swiftly to market changes, customer demands, and industry trends, giving them a competitive edge.
  • Improved Customer Satisfaction: Streamlined operations lead to swift responses, precise order fulfillment, and exceptional customer service. Contented customers are more inclined to become loyal repeat purchasers and enthusiastic advocates of the SME.
  • Better Decision-Making: Operational efficiency elevates data accuracy. SMEs gain access to reliable information for well-informed decisions, fostering superior strategic planning and facilitating growth.
  • Scalability: Efficient operations establish a robust base for SME growth. Clearly defined and adaptable processes enable seamless expansion without significant disruptions.
  • Time Management: Streamlined operations create time that SMEs can invest in innovation, product development, and exploring new markets.
  • Financial Stability: Efficient operations ensure steady cash flow and improved financial management, empowering SMEs to navigate economic uncertainties and invest in growth.
  • Innovation and Adaptability: Optimized day-to-day operations grant SMEs the flexibility to channel resources and energy into creation and quickly respond to evolving market dynamics.

Why Choose Odoo as Your SME ERP Solution?

  • Odoo’s modular structure lets you start small and expand as your SME grows, ensuring a perfect fit for your evolving needs.
  • Odoo provides a cost-effective ERP solution for SMEs with its open-source foundation and flexible pricing.
  • Cover various aspects of your SME operations under one roof with Odoo’s diverse modules, fostering streamlined management.
  • Customize Odoo to match your SME’s unique processes and preferences, promoting seamless integration and minimal disruption.
  • Odoo easily integrates with other software tools, supporting a cohesive business ecosystem and optimal efficiency.
  • Access an extensive community network, along with paid support options, ensuring guidance at every stage of implementation.
  • Odoo’s multi-language and multi-currency capabilities, and localizations, make it an excellent solution for SMEs with global aspirations.
  • With its quick deployment and customizable modules, Odoo facilitates a faster return on investment for your SME.
  • Odoo empowers your SME to rapidly adapt to market changes and embrace innovative growth opportunities.
  • Your SME’s sensitive data is secure and compliant with Odoo’s robust data protection measures

Odoo Cloud-Based ERP Solution for SMEs 

Cloud technology is transforming the ERP landscape for SMEs, offering compelling reasons for these businesses to opt for a cloud-based ERP solution. Here are the key advantages that make cloud-based ERP an ideal choice for SMEs:

  • Pay-as-you-go pricing, no upfront hardware costs.
  • Easily adjust resources to match business growth.
  • Access from anywhere, enabling remote work.
  • Quick implementation compared to on-premises systems.
  • Regular updates for the latest features and security.
  • High-level protection with encryption and backups.
  • Seamless integration with other cloud tools.
  • Minimal IT maintenance is required.
  • Support for international expansion.

Bista’s ERP Services Tailored for Fueling SME’s Growth

  • Consultation – Bista’s consultation services provide SMEs with expert guidance right from the start. Understanding that each SME has unique requirements, Bista’s consultants work closely with business owners to assess needs, analyze processes, and define strategic goals.

  • Implementation – The implementation phase is critical, and Bista excels in delivering a seamless transition. With a wealth of experience, the Bista team ensures that the chosen ERP system is configured, integrated, and deployed efficiently for your Business growth.
  • Migration – Bista’s Migration Services Seamlessly Move SME’s Operations to Modern Heights, Ensuring Uninterrupted Growth.

  • Integration – Bista specializes in integrating the ERP solution with existing tools and applications used by SMEs. This integration streamlines workflows, enhances data accuracy, and minimizes duplication of efforts.

  • Support – As SMEs evolve and encounter new challenges, Bista’s support team is there to provide timely solutions, ensuring that the ERP system continues to meet the changing needs of the business.

Choose Bista Solutions for SME ERP Solutions

  • 3 Decades of ERP implementation Experience
  • 200+ Successful Custom App developments
  • 250+ Expert Developers at your service
  • 350+ Successful Project Implementations Completed
  • One of the Most Trusted Odoo Gold Partners
  • Global Presence in 10+ Countries
  • 24/7 Support Available

Emerge as champions of change with our SME ERP Solutions. Contact Us Today!