This article is going to highlight how ERP for fashion brands can change the outlook of the fashion industry. Read on and know how the fashion industry can leverage this ERP module.
Today, fashion brands are well aware of the fact how the latest technological innovations are the key competitive differentiators to achieve a better market at a faster pace and to gain insight throughout all the steps of the supply chain.
Well, in this context, an end-to-end industry-specific ERP solution is the best choice for the specific needs of apparel and fashion companies. Such ERP software for the fashion industry can provide a holistic view of the entire business processes.
Well, check out the following points to know!
This is the first step of any apparel or fashion brand in the retail lifecycle. Well, today, most of the business plans reside in complex and large spreadsheets. These spreadsheets are not only hard to share but also hard to update effectively.
In this scenario, a software-based, centralised approach like having an ERP solution is undoubtedly going to improve the utilisation of all the resources ensuring more efficient operations that can hit the profit targets.
PLM and design
With an integrated ERP, each process in the business flow becomes more transparent to the employees or the users of the ERP system. Here, in the case of the fashion industry, the designers have the visibility to all the plans as well as to the price points. At the same time, planners can see all the collections as they develop.
What is the benefit of it?
Well, it offers an excellent opportunity for teams to make the course corrections along with having a comprehensive view of information across all the fashion seasons.
Next comes inventory management
Today, in order to meet the need and the demand of the omnichannel market, fashion retailers and brand owners along with those who work in the wholesale industry need a precise view of their respective inventory position. Why? Well, this helps in optimising the stock levels across all the channels.
Now, if you think you can go ahead with manual tracking of collections and items across offline and online channels, you are risking your business to a great level! Why? ‘Cause it can cause huge miscalculations and errors, which can affect your business by eventually leading it to loss!
This is where an integrated ERP solution can maintain transparency and accuracy allowing your business to keep tabs on the stock levels across all the channels.
Key activities like logistics, markdown modelling, and end-of-season planning are parts of retail operations. To meet customers’ demands along with mastering true omnichannel apparel retailing, team members need access to a single version of the truth. Moreover, they need clear guidance on operations like moving merchandise from one store to another and price adjustment.
The fashion and apparel industry is going through drastic changes these days. If you are still stuck to the traditional processes, you may face difficulties to survive successfully. It is advisable to invest in ERP solutions tailored to your specific business needs.
Consult with an ERP consultant. The expert will guide you in the right way not only to achieve success but also to sustain your position in the market.
Cameron McCaughey is an expert Odoo Consultant of Melbourne and presently working with one of the leading ERP consulting companies in Australia, Visions & Solutions. He has been working in this ERP industry for years and has successfully helped diverse businesses to get the right ERP solutions. Be it consultation, planning, development, deployment, maintenance, or support, get in touch with the Odoo ERP experts and get the most feasible business ERP solution.