Beauty and Cosmetics ERP
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Beauty and Cosmetics ERP

The beauty and cosmetics industry is a multi-billion dollar industry and according to Goldman Sachs, skin care is worth $24 billion, make-up is $18 billion, hair care is $28 billion, and perfume is $15 billion. And it's growing by at least 7 percent per year. Americans spend more on beauty than on education. The spending appears to be all about vanity and the belief that better looks equal a better life. Beauty is something recognized almost instinctively.

The incredible growth in the beauty and cosmetics industry is fueled by richer baby-boomers with more discretionary income and it's more than just going to the local drug store to buy lipstick. Industry leaders such as Loreal and Revlon offer quality products for an affordable price. Major department stores such as Macy's, Nordstrom, and Saks Fifth Avenue carry higher end beauty and cosmetics brands.

Beauty and Cosmetics software ERP

You are able to get more personalized attention, and actually try on make-up or skin care products. Lastly, direct marketing companies such as long-standing Avon and Mary Kay aren't left out. The representatives still come to your home for that extra-special service that you can't get anywhere else.

The beauty and cosmetics industry has embraced technology in order to advance and stay competitive. The increase in on-line shopping has a lot to do with it. By 2020, almost 90 percent of people will do their shopping online and 45 percent will shop via mobile devices. The "in-store" experience has to work harder to excite customers and keep them returning.

Popular brand Loreal has partnered with technology companies to allow customers to try products before they buy. YSL brand partnered with Google allowing make-up artists to show customers how to apply make-up with the use of digital technology. And many other brands have launched apps to see how make-up will look on them before they purchase the products.

Beauty and Cosmetics software ERP FM

Beauty and cosmetics companies have specific challenges, particularly with cost control and regulation management. There is competitive pressure within day to day operations, as well a fluctuating prices for raw materials. There is a strong tendency for low margins and challenges with process manufacturing.

Direct marketing beauty companies rely on an active sales force who work as little or a much as they like. Independent consultants who want to earn more recruit and manage their own team. Ultimately, this helps create a stronger sales force than a traditional sales team would experience.

Generally with cosmetic companies, there is a CEO. Finance, legal, human resources, research and development, as well as customer service will all report directly to the CEO. From there, the organization is divided into marketing, sales, development, distribution and operations. There may also be regional managers to serve as liaisons between top management and field workers.

Beauty and Cosmetics system ERP

Enterprise Resource Planning (ERP) is management software that typically works with integrated applications. It helps organizations to collect, store, and manage data from their business activities. In order for a beauty or cosmetics company to stay competitive, they need business software that will give them optimum use of their resources. In addition, the software will allow them to make needed adjustments easily, based on market conditions. An effective ERP system can help increase profit margins, improve customer service, reduce on hand inventory, and reduce costs.

An ERP system specifically for the beauty and cosmetics industry will be understand the competitiveness of the manufacturing process. It will have all the tools needed for an organization to succeed. Some of the accelerated demands it can assist with are:

- Lot and tracking solutions
- Batch sizing and scaling
- Quality control and management
- Compliance requirements

Most beauty and cosmetics companies desire very detailed financial reporting, order management, and easy purchasing functionality. They also want to integrate an ERP into their current system to accept order from suppliers. They need the ability to integrate to send sales orders, purchase orders, and receive shipping notifications. Lastly, they need the ability to pull online orders and process them for shipment. ERP systems can handle POS billing, commissions, and advance payments.
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