An ever-growing industry, Petroleum is a major player in the global economy. Complexity in its operation can be a great hurdle for the investors in oil, coal and natural gas industry which are all interrelated to the petroleum industry. A perfectly customized ERP solution can help you synchronize all your operations in a systematic manner. Embrace Odoo ERP to fuel up the petroleum business.
Being a large business, the Petroleum industry requires proper planning and integration of operations. Only a tailor-made ERP can extend full-fledged support for the operations of petroleum industry. Odoo enables the integration of Inventory, Manufacturing, Customer Relations Management, Employee Management, and other Applications. Multi-country and multi-currency operations assured by Odoo are sure to help the business to expand.
Odoo ERP tool offers multi-faceted benefits to the Petroleum Industry by offering support for the following requirements.
Increased operational efficiency
Managing time and manpower can ensure you support to plan and quickly manage the business. Odoo Open Source Software provides an investor with comprehensive support to organize orders. In the petroleum industry, this helps the business to schedule the work order and prepare the activities. Planning the work schedule, workforce strength and efficient transportation of the petroleum products becomes more effortless. Different segments of the business including extraction, refining and transportation can be managed with Odoo support. It can also extend help to improve the marketing of the products.
In an industry involving many complex processes, investors have to tackle many challenges. Environmental challenges, pollution management, storage requirements and price management may affect the easy operation of the industry. With a custom ERP, the investors can handle all these challenges with ease and assure better support to address technical support.
Effective risk management
An Industry engaging in multi-country business, the Petroleum industry can offer comprehensive support to tackle economic and environmental risk. Odoo Accounting with proper budget management and planning support can assure risk-free economic ambience for the industry. An efficient marketing system and systematic storage management also prevents economic loss. Alert management for environmental risks helps the industry to comply with environmental laws.
Manage refineries with proper tracking and security management support with the best ERP solution. Work centre management, effective chemical storage management and work time allotment based on work orders can be done in a few clicks if you are using the Odoo platform. ERP solution can also support in managing by-products and bill of material for the refining process.
Efficient supply chain management
An Industry Involving a set of processes, supply chain management plays a crucial role in the Petroleum industry. With the support of the best ERP implementation firm, investors of a petroleum refining industry can ensure the management of proper supply network, production units marketing wings and end-users. Linking all five parts of the supply chain helps the industry to function efficiently. The refining industry can get total support for maintaining and repairing equipment and workforce also.
Lack of technical glitches distinguishes Odoo from other ERP solutions. Focussing more on ensuring user-friendly interface, the Odoo team has introduced better visual display and easy to operate applications.
Cost and budget management
Plan your budget and ensure the automatic transfer of money with Odoo ERP. Managing Vendor bills, refunds, payments, batch payments and expenses gets quick with the use of the ERP platform. Ensuring journal entries and managing separate journal for sales, purchases, bank and cash Odoo can simplify financial operations. Managing cash flow, taxes, balance sheet, invoices and reports gives extensive support for auditing and other purposes. Optimize performance level
Reduce cost and increase turn over with strategic business operations. Effective manpower management and improved work centre capacity helps to expand to new markets and ensure increased profitability. Introduction of new product variants and price management also are made possible with ERP support.
Implementing Odoo ERP will help the petroleum industry to make use of the quality management support. Odoo Quality assures support to introduce quality checks, quality control measures and quality alerts.
Bill of Material
Refine petroleum products in an accurate way by managing the bill of material the effective way. ERP platform can support the user to manage the components used for the refining process. The crude oil usage and the chemical components get balanced ensuring the production high value compounds.
The integrated e-platform can support the investor to ensure proper storage of petroleum products. Highly inflammable products require specially designed warehouse facilities which can be controlled and monitored with ERP support.
Involving multiple warehouses at multiple locations, Petroleum industry requires comprehensive support for warehouse management. Odoo Inventory can ease the warehouse management process as the stock management in distant warehouses can be managed with ease. Stock refilling, product shifting from one warehouse to another and excess stock management can be completed effortlessly with Odoo.
Odoo 14 Manufacturing module offers comprehensive forecast management support. A forecast report with graphic support helps a business to study the demand and plan production accordingly. The refinery units can plan the production of different petroleum products based on the market price and demand if the business depends on ERP platform.
The movement of the crude oil to the refinery to the movement of the final petroleum product to the end-users can be tracked with Odoo. Shipment of the products, which are highly explosive, gets simpler with Odoo as this application enables the management of logistic teams. Invoice generation and repeat order management also supports the business.
Repair and Maintenance
Refineries comprise of a set of equipment making a maintenance calendar mandatory. Timely maintenance of the equipment increases productivity and avoids the wastage of time and manpower. Quick repair management helps the business to grow effectively. In-house and external repair wings can operate with support of cloud based ERP platform.
Comply with Government Policies
Odoo document management supports a business to store and share no objection certification, pollution management documents, licenses and operational permissions. Alerts to renew the licenses and submission of documents also help to ease legal complications.