The apparel industry continues to grow and evolve, becoming more competitive as time passes. In fact, it is projected to reach a revenue of approximately $2 trillion by 2027 worldwide. That is why apparel companies should strive to find ways to stand out in the market. Getting there, however, requires business owners to stay on top of every aspect of their business, which is simply impossible to achieve, especially if it’s done manually.
In light of that, fashion brands turn to technology and innovation to streamline business operations and maximize business performance. One such piece of technology that can provide you with a holistic view of business processes is apparel ERP software.
Apparel ERP software automates and optimizes internal business operations, resulting in increased levels of efficiency across all departments. These solutions are designed to connect data across departments to increase oversight and control. The best apparel ERP software solutions offer features that increase productivity and accelerate time to market, making them an essential tool for fashion businesses looking to optimize their operations.
Read on to learn more about how industry-specific ERP designed for the apparel industry can help fashion businesses streamline various operations across departments.
Better production planning
Production planning is one of the most complicated sectors in any fashion company. By implementing apparel ERP software, you can simplify the entire production planning process by using integrated planning tools and automation workflow tools. This way, you can easily resolve the entire product lifecycle, encompassing design, development, optimal inventory levels, reductions in shortages and overstock situations, and progress monitoring.
When you streamline these processes, you will save time, work more efficiently, boost the entire company’s productivity, improve cash flow, and achieve higher customer satisfaction. Companies that use ERP software make decisions faster, lead the entire production process with ease, and guide all company operations toward better performance and success.
PLM and design overview
The process of developing a new fashion collection might take up to a year before the collection is actually manufactured. Moreover, only about 30% of the fashion collection sketches that are first made by designers end up being brought to life and sold in stores.
An end-to-end apparel ERP solution may give teams a single version of the truth, allowing designers to view plans and pricing points while at the same time allowing planners to see how collections are evolving. This presents an excellent opportunity for teams to make timely adjustments.
Streamlined supply chain management
Businesses in the fashion industry need to have an efficient ERP system in place in order to boost their levels of productivity and streamline their operations. The capacity to monitor all phases of product delivery, from purchase orders to finished goods at the warehouse, is one of the primary features of a powerful apparel ERP system.
Because of this function, businesses are able to maintain a close eye on the entirety of the supply chain process, which helps to guarantee that everything operates in a streamlined and effective manner. With this feature of apparel ERP software, businesses are able to identify potential bottlenecks and address them before they become more significant problems, which ultimately results in lower costs and improved customer satisfaction.
Simplified order and return processing
In the fashion industry, especially in the retail sector, order and return processing happens on a daily basis. Therefore, your company needs to implement a quality tracking system to be able to complete these processes efficiently and promptly. The tracking and management of orders and returns can be standardized using feature-ready apparel ERP software.
The software enables you to predefine discounts, package tracking, return policies, and shipping, among other things. This not only makes the processes easier to complete, but it also results in more deliveries being made on schedule and improved return processing.
Improved inventory overview
As a result of globalization, where warehouses are frequently dispersed across multiple locations, inventory management becomes increasingly challenging. Managing inventory manually is prone to errors and less efficient. And this is where apparel ERP software enters the picture. The system offers powerful automation options that may be used to keep tabs on inventory and determine whether there are any understocks or overstocks.
In addition, apparel ERP software typically comes with a barcode scanner feature to display the comprehensive inventory in a variety of ways, including by SKU, color, style, size, and more. As a result, it provides you with a more comprehensive overview of each stock item that is moved into or out of the warehouse.
Final thoughts
Sticking to traditional processes is no longer an option for fashion businesses that want to remain relevant in the face of the drastic changes in the sector. To achieve that, they should turn to apparel ERP software. Industry-specific ERP solutions can provide fashion brands with the necessary insights and control to fully optimize their operations and stay one step ahead of the curve.
