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The Rs 850 crore Shrenuj and Company, majorly into diamond
exports, was looking for an enterprise application that would help consolidate
data and put best business practices in place.
Shrenuj also manufactures jewelry and is headquartered in Mumbai
with offices in Dubai, Hong Kong and Antwerp. The company was using the
Oracle-based systems for materials, which worked in the islands. This meant lot
of manual work to run routine business activities. The issue of availability of
right data at the right time was a matter of concern for the management, which
had to take important decisions quickly.
Shrenuj's branches and factories were also not connected with
the headquarters. The system was not equipped to handle imports and exports
related documentation, processes.
Going the ERP Way
The materials management system, developed by the IT team at Shrenuj wasn't
fully-functional nor was it completely integrated.
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| ERP
Benefits |
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Export sales/consignment
sales/local sales/export sales are live
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Budget controls with
four levels of hierarchy
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Multi-currency,
multi-branch operations with select consolidation of financial reports
with drill down facilities
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System allows multiple
item entry in a single form in sales, export, purchase and inventory,
required due to peculiar product properties
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Grading of diamonds
during exports for business specific need of MIS
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On-line data transfer is
facilitated to Excel application from within the ERP for some specific
reports
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Export/ Import
revaluation
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Consolidation across the
companies with conversion of currency
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The company wanted a robust, integrated system, which would take
care of materials management, sales, exports, loan accounting, purchase and
finance due to high value transactions involved.
Shrenuj, which employs around 1,200 people, needed a system that
would help them grow without increasing manpower. The management wanted to
strategically manage accounts and improve cash flow. Bank exports loans also had
to be taken care. While the ERP had to look into improving the system of working
and get rid of adhoc business practices, consolidation of MIS, accounts and
consignment stock tracking were other areas of attention.
As the issues multiplied, it became necessary for Shrenuj to use
technology in order to be able to make smooth business decisions. The company
went in for Ebizframe, an ERP solution from ESS Limited. The already existing
Oracle platform supported the launching.
Counting Returns
The total cost incurred on implementation and support of ERP, along with
hardware, has been around Rs 30 lakh till date.
After necessary customization, the product was adopted to the
typical industry requirements. The implementation of Ebizframe started by
November 2003 and went live within a year. The export cycle available in
Ebizframe was further enhanced with features like packing credit, export credit,
direct export, consignment export, packing list and more. After the
implementation local sales, export sales, consignment sales, local purchase,
imports purchase, inventory, stock transfer, certification and finance were all
live.
The ERP has a good control over cash flows. It has facilitated
faster decision making processes as management can pick live data from across
the enterprise for MIS. The company has been able to stick to structured
business practices. This has made the company confident of handling the
projected growth in a more organized manner.
Looking Ahead
The company now seems comfortable with ERP implementation for its Dubai
branch too. Starting operations on the ERP at Hong Kong is also on the cards.
Production is the module next in line. It hopes to have further improvement in
inter-department control. Shrenuj will be looking at more enhancements in ERP
functionalities as the business grows.
Urvashi Kaul
urvashik@cybermedia.co.in Page(s) 1
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