OMCs have always been in the midst of changing regulations andglobally oscillating oil prices. They have to be both flexible and proactive if they want to keep up with the globally fluctuating oil prices. Another potential challenge is a geographically scattered market, which makes the implementation of their marketing schemes difficult. There is no one-size-fits-all marketing scheme and it differs from region to region, client to client and product to product. This is the reason why it needs an ERP Solution that is amenable and configurable enough to cater to its volatility and international compliances. It needs an ERP System which can be implemented around complex business processes and can be integrated with other systems to streamline key information.
OMC’s require multiple modes of sales and despatch. In order to manage such sales, they need an ERP Software to handle multiple locations, plants and depots. They need an integrated system to seamlessly managethe inter-depot or inter-plant transfers, so that they can keep a track of goods in transit. Also, the inter-location transfers throw up complexities as the invoicing and taxation policies keep changing with the geography. To sail through such complexities, OMC’s require an ERP Solution with highly flexible tax rules setting.
Last but not the least, considering the volatility of the prices and the market conditions, the crunching of numbers is very crucial for OMCs. Their ERP has to have extremely good analytical facility so as to equip the user organization with incisive analytics enabling them to manage their profitability well.
About the Author:
Ashutosh has done his B.Tech in Electronics and Communication. He started his career with a Digital Marketing company. To refine his writing style and blend it with other niche markets, he joined ESS’ Marketing Communication Team to come up with savvy and engaging content for ESS’ flagship product: ebizframe ERP. Apart from his professional calling, he loves penning down his abstract reflections whenever the urge is overwhelming.