Most people’s daily lives revolve heavily around commodities. A ERP for Commodity Trading is a basic good that is exchangeable with numerous different items of the very same type in trade. Examples of commodities that are more commonly used include grains, gold, beef, oil, and natural gas.
Commodities, in addition to traditional equities, could be a crucial means for investors to broaden their investments. Some investors also turn to commodities during times of market turbulence because their prices frequently fluctuate in opposition to stock prices. Commodities trading used to take a significant amount of time, money, and expertise, and it was primarily limited to professional traders. There are now more ways to participate in commodity markets.
In the market, there are two types of commodities:
hard commodities and soft commodities. Soft commodities are primarily used for initial consumption, whereas hard commodities are frequently used as components in the production of other goods and the delivery of services. Agricultural products like rice and wheat are considered softer commodities while inputs like metals and minerals are categorized as hard commodities.
Product delivery and service quality are critical to trading success. Lighthouse ERP for Commodity Trading (Minerals, Paper, Plastics, Polymers, Petroleum) provides you with an improved delivery system through comprehensive product categorization and dynamic inventory controls, resulting in long-term business growth.
The market for trading commodities is enormous. The world receives and ships millions of different commodities every day. Commodity supply must also keep up with demand. Commodity trading requires careful planning, monitoring, and tracking systems from source to destination. A perfect software solution is required by industries dealing with the trading of commodities such as minerals, paper, and plastics because these materials are used all year long.
Why choose Lighthouse ERP for Commodity Trading Industry?
Commodity manufacturing and trading are complicated by market positions, contracts, currency fluctuations, operational risk, and legal compliance. However, these challenges present opportunities for the sector to capitalize on through the Lighthouse ERP.
Refineries, global trading, and production firms, and supply chains benefit greatly from the functionality that Lighthouse ERP integrates for contract management, risk management, and supply chain management. It seamlessly integrates with the other components of the business suite, providing management with a clear picture of the data and enabling quicker and wiser decision-making.
Lighthouse ERP gives you the ability to create daily mark-to-market calculations, value at risk calculations, and real-time end-to-end margin analysis.
Lighthouse ERP:
An Oracle Partner, assists companies in getting the most out of their financial commitment to us. We design a custom ERP package for you and then provide ongoing, end-to-end support. The Lighthouse ERP is the only solution that provides financial, sales order, and inventory management in addition to CRM tools, contracts of sale, monetary agreements, flat purchase contracts, future contracts, position management, risk management, profit determination, weighbridge interface, supply management, and business intelligence.
Through a set of predefined dashboards and reports, one easily accessible ERP solution presents all of this, providing a flexible solution that will ramp up as your revenues and enterprise expand.
The best option for the commodity trading industry is ERP software. All industrial activities and operations are managed and watched over by ERP for commodity trading. In order to keep track of all the operations, commodity trading ERP creates a network by linking all the departments and divisions. This makes information and data exchange at any time possible and seamless. The industry operates effectively and delays are eliminated thanks to various modules in ERP software for commodity trading.
The Lighthouse ERP for Commodity Trading (Minerals, Paper, Plastics, Polymers, Petroleum) Industry is created to handle all requirements in the most effective, efficient, and precise manner possible. Since its inception in 1987, Lighthouse ERP has undergone constant development, and the company is dedicated to offering the trading industry a robust, all-inclusive ERP module. The success of Lighthouse is due to its technical expertise and mapping of key requirements.
Modules offered in Lighthouse ERP for Commodity Trading industry:
1. Selling
Lighthouse ERP examines sales history by party, item, region, broker, GST Sales and Service taxes, e-invoicing, and e-waybill. Buyer accounts from a single company or large group are consolidated, and buyers with multiple consignee locations are brought together on a single platform. ERP records and displays sales based on several parameters, including broker and salesperson, party, and item. Reminder Letter to Debtors/Creditors for Pending Sales Tax Forms, Party-By-Party Automated creation of vendor purchase orders from customer sales orders/quotations. Create a quotation, a sales order, a challan, or an invoice; create an invoice from an unbilled challan. Debtors/Creditors Age Analysis: A comprehensive age analysis for debtors and creditors, including month-by-month and bill-by-bill outstanding tracking. Service Scheduling, Execution (Job Cart), Daily Service Reports, and Service Billing are all part of the Service Management life cycle.
2. Sourcing
Trading industries can streamline all sourcing tasks using cutting-edge ERP technologies. The software aids in item segmentation, allowing item discounts to be applied to item classes based on clients/industries or tax conditions. Purchase price capture is simple by importing an excel sheet of price lists directly into the ERP system. Real-time tracking of Auto Purchase Orders based on Total Stock, including pending orders and reorder level.
3. Inventory
Inventory management is critical in the commodity trading industry. Lighthouse ERP assists in categorizing all items across categories and groups for systemic tracking. It aids in the monitoring of Dynamic Inventory Controls with quantity conversion factors. ERP aids in gaining in-depth insights into both performing and non-performing stock assets. Executives can study stock values and movement using the comprehensive software, which includes ABC, fast-moving, and slow-moving analysis. For item-wise and study inventory turnover, accurate locations and stock status are provided in real-time. Managers can also easily fix Min-Max levels, Re-Order levels, Last Purchase Rate History, Minimum Order Quantities, and Safety Stock using the software.
4. Finance Administration
With the Lighthouse financial management and accounting system, you can control your bottom line and plan for future change. Financial, personnel, cost and budget accounting, commitments, and fixed assets are all covered. It also handles transfers from one country to another, as well as between subsidiaries and your headquarters. The adaptable accounting structure (multi-ledger and multi-chart of accounts) fosters a real-time global vision while meeting local operational needs. General ledger with multiple charts of accounts, Accounts payable, Accounts receivable, Cash flow management, Bank management, Cost and analytical accounting, and Expenditures are some of the key capabilities. Budgeting and commitments, as well as fixed asset management\
5. Quality Management
Weighbridges serve as crucial checkpoints in the handling of solids and bulk materials. A security gate serves as a control point for vehicles entering and exiting the premises. Lighthouse ERP has a versatile solution that streamlines weighing operations for purchases and sales, giving you control over your weighbridge activities both locally and across all of your locations. Monitor all inbound and outbound material movement at the Security Gate and Weighbridge. On the basis of these control points, obtain multi-level Q.C.
Conclusion:
The advantages and benefits listed above clearly demonstrate the importance of ERP software in the commodity trading industry. The software also provides additional benefits that are not immediately apparent but have long-term effectiveness. ERP software is also useful in commodity trading, mineral trading, paper trading, and plastic trading and selling. Because the Commodity Trading industry sector is vast and many industries struggle to find a suitable solution to ensure proper operations and a smoother workflow, ERP is a boon for the Commodity Trading industry.
