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Steel Trading Industry with SAP Business One-Case-Study

Industry Overview

The steel trading industry is global, competitive and vertical in nature - buying products from global manufacturers and distributing them to different industries. This sector requires real-time management of procurement, sales, inventory, and also financial operations, which is not possible with legacy systems. Most companies face dire consequences due to complex processes for managing pre-existing systems to complete day to day operations.

  • Location USA
  • Industry Manufacturing
  • Solution SAP Business One

Challenges Faced in Steel Trading Industry

Global steel trading is very competitive. Because it can be done anywhere in the world, distributors have to compete against the world's finest manufacturers. Along with this, managing Procurement, Sales, Inventory, and financial management across various locations and entities is a lot of work.

Inefficiency on other areas such as decision-making and forecasting are directly correlated with a company’s lack of information on real-time inventory levels, sales orders, and even the financial performance of the organization.

Filing and entry of documents on physical paperwork along with the lack of integration between disparate systems leads to inefficiencies such as mistakes or errors in the processes.

Traditional systems and methods utilized often leads to an inflexible environment were adapting to changes and needs is difficult.

Manual compliance and auditing require an excessive amount of information which leads towards the financial profitability reporting to be rather tedious.

There are various reports that need to be created and the inability to analyse them results in dire choices for the company. The absence of Dashboards and financial alerts leads to uninformed purchasing and selling.

Silver Touch Technology’s Offered Solutions

To tackle these problems, Silver Touch Technology adopted the use of SAP Business One, an all-encompassing and integrated ERP solution. The software provides comprehensive modules that facilitate the smooth operation of business activities in the steel trading sector.

Standout Features of SAP Business One

Master Data Management

Template master data configurations for transactions such as business partner and item master modules.

Inventory Management

Stock levels, orders, purchases and sales can all be tracked simultaneously.

Financial Management

All financial activities controlled and reported in real time with complete accuracy and compliance.

Sales Order Management

Complete sales cycle records with additional tabs for profit, cost, and narrative management.

Purchasing Management

Custom financial reports and purchasing management workflows have been improved.

Dashboard, KPI, Widgets, and Alerts

Users can monitor and respond quicker through customizable dashboards, widgets, and alerts.

Custom Solutions Add-ons:

  • Mass Automatic GRPO creation to enhance efficiency.
  • Real-time calculation of group profit and unit profit for each trade.
  • Items can be auto-generated from the item generation tool.
  • Orders can be managed on a departmental basis.
  • Users can set automatic batch creation and allocation through the shipment and the Purchase/Sales Allocation modules.
  • Automated employee commission within and between companies and AP invoice submissions.
  • Module for tracking POs and Sales Orders for Letter of Credit and Loan management while trading.
  • Crystal and Boyum customized reports capable of improving workflows are provided.


Custom Services:

Replication Service: Leads to automatic synchronization of customized to local branch databases.

Business Benefits Achieved

Operational Effectiveness Increased

The reduction of workflows contributed to automation, which saved time and increased productivity.

Enhanced Planning

Better management of inventory, sales, and financial activities through real-time access improved organizational processes.

Improved Accuracy and Standardization

The elimination of process steps reduced the chances of mistakes and improved adherence to regulations.

Scalability and Growth

A system that is flexible to changing business environments and requirements, thus enabling growth.

Conclusion

Industry’s efficiency and visibility has transformed due to the implementation of SAP Business One in the regions steel trading sector. Integrated ERP solution enables companies to make better decisions and promote sustainable growth.

About Silver Touch Technologies

Silver Touch Technologies is recognized as a trusted provider of SAP Solutions to streamline business processes that utilize IT optimally. Imagine what your company could achieve if operational headaches were resolved - consider SAP Business One from Silver Touch Technologies for a painless digital transformation.

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