Petrochemicals are an industry that is constantly growing and a major player in the global economy. Investors in the oil, coal, and natural gas industries, all of which are interrelated to the petroleum industry, may find it difficult to operate their companies due to their complexity. To meet the stress, these industries need a complicated and modern software solution that helps them to realize optimum performance while reducing cost. Also, delivering all the requirements of the sale increases operational performance. Using ERP software is important because it eliminates a wide range of challenges and problems of these types of industries.
Being a large one, the petroleum industry requires proper planning and integration of its operations. Only a customized ERP can provide full-fledged support for petroleum industry operations. An ERP system’s most significant advantage is that it enhances operational efficiency. It is the top petrochemical industry software because it is integrated, yet it has a separate module for every business process.
Embrace Bassam Infotech Odoo ERP to streamline your business operations. With a customized ERP system, you can streamline all your operations in an organized manner. Utilizing this modular approach improves supply chain, inventory, billing, etc., and ultimately makes operations more efficient. With better planning, it enables you to trace and type all the resources. Real-time tracking of every process makes every process transparent and also reduces possibilities of errors and risks. Odoo ERP has a better user-friendly interface and helps these types of companies manage their inventory, purchase, accounting, and entire supply chain.
Odoo allows businesses to integrate project management, inventory, manufacturing, customer relationship management and sales, employee management and other applications. Its other functionality like multi-country and multi-currency capabilities enhance more business expansion. By providing support for the following requirements, Odoo ERP offers multiple benefits to the Petroleum Industry.
Let’s dive into the Advantages of Odoo ERP for Petrochemical Management.
Identify and minimize challenges.
Investing involves many complex processes, so investors have many challenges to face. Such as, Managing the environment, managing pollution, managing storage requirements, and managing prices can affect the easy management of the industry. By using Odoo ERP, you can handle all these challenges in a better way.
Improved operational efficiency
Planning and managing time and manpower can ensure you are able to manage the business quickly. Organizing orders is made easier with Odoo Open Source Software. As a result, the petroleum industry is able to schedule work orders and plan activities. It becomes easier to plan work schedules, workforce strength, and efficient transportation of petroleum products. With Odoo support, you can manage the extraction, refining, and transportation segments of the business.
Petroleum companies can provide comprehensive support to deal with economic and environmental risks. By using Odoo ERP software, we can manage and track business easily and effectively, which reduces the risk.
Improves the efficiency of manufacturing
With the Best ERP solution, you can track refineries and manage their security with ease. Using the Odoo platform, you can easily manage work centers, store chemicals and allot work time based on work orders. An ERP solution can also support managing by-products and bills of materials for a refinery.
Streamline Quality Control
Odoo ERP helps the petroleum industry to form use of the standard management support. Odoo Quality assures support to introduce quality checks, internal control measures and quality alerts.
The movement of the materials from suppliers to end-users can be tracked easily with Odoo. Shipment of the products, with serial numbers and batches, can also be easily maintained.
Modules used in Petrochemical Industry
Odoo project management module facilitates the creation and management of long-term and short-term projects based on the operational terminologies of the company. It is a time-saving tool that can give us a visual overview of all our ongoing projects. With this, we can manage people, tasks, deadlines, multiple projects, daily time sheets, etc. A project manager will be able to allocate employees to a project and manage them efficiently throughout the duration of the project with this efficient management tool. The project management dashboard acts as the home screen that allows users to handle all project operations.
This module helps a lot in the industries like petrochemical industries. In these industries, they always need to get the cost and profit by each project individually. As Odoo best project management software and Accounts module are integrated, this can be easily done. Along with that, the project is also integrated with the time sheet management. So from this single module, complete details can be taken of each project individually.
Odoo Manufacturing lets the end-user put together a manufacturing order for a product and pass it through the production process in various stages on the way to completion. Additionally, Odoo Manufacturing allows its users to customize manufacturing procedures based on their company’s specific processes using Work-center and other routing features.
QC (Quality Control) /QA (Quality Assurance) Module
Odoo Quality Management is a formalized system for achieving quality policies and objectives by documenting processes, procedures and responsibilities. Quality Control Point is a procedure that occurs when the products are being manufactured when the merchandise is being delivered, or when the merchandise is being received.
QC (Quality Control) /QA (Quality Assurance) have majored in the petrochemical industry. With the help of Odoo ERP, each and every minute quality measurements can be done.
Supply Chain Management (SCM) Module
Managing the supply chain is a crucial aspect of the petroleum industry. With the support of a good ERP Implementation Company, investors of petroleum refineries can ensure that the supply chain is well-managed. Keeping all five pieces of the supply chain connected helps the industry function efficiently. The refining industry can receive support for maintaining and repairing equipment as well as its workforce. Following are the modules involved in SCM
A fully integrated ERP solution helps an organization manage the entire production process by tracking and recording the number of units consumed. Even if it is Semi-finished goods or finished goods. Inventory management helps resolve quantity issues. From order entry to inventory transaction, keep track of your inventory. Additionally, track your purchase order entry so that you can keep track of the goods you purchase as well.
In petrochemical industries, it is necessary to maintain tracking of every single minute of materials. So with Our Odoo ERP, this can be fulfilled.
Odoo is a business software package that works well with various business models. With Purchasing Management Software, as many steps as possible can be automated, which reduces costs and errors.
In general, a company’s purchase management section is one of its most vital departments. The company’s buying processes should receive the utmost attention. By using Odoo, you can easily track, access purchase management.
In petroleum industries, purchase management has a vital role. While using Odoo in each perspective, every requirement in these industries can be achieved. Vendor management, preparing quotations, creating quotation comparison reports and receiving PO acknowledgement from suppliers etc.. can be easily done with Odoo ERP.
With the financial accounting module, you can centralize your budget and forecast across the business. Also, you will have exact and current financial information at your fingertips. This module simplifies financial reporting, which definitely speeds up the decision-making process. Manage and control the whole request-approval process for generating bills with the help of this module.
So by each project, individually budgets can be controlled. Project wise forecasting, P/L ( profit and loss) reports can be taken from the system.