Inventory Software: Related Segments
1. Why You Need Inventory Management
- Reduce Inventory Errors
- Reduce Carrying Costs
- Reduce Out of Stock Inventory
- Increase Supply Chain Accuracy
- Improve Planning/Forecasting
- Optimize Fulfillment
- Streamline Production
3. Inventory Management Software Features
- Number of Users
- Scalability
- Offline Access
- Cloud Based
- Order Management
- Sales Processing
- Customer and Supplier Data
- Forecasting
- Configurability
- Barcoding & Scanning
- Real-Time Metrics
- Improved Warehousing
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7. Inventory Software (Related Segments)
Your clothing inventory management system offers the same benefits regardless of what kind of apparel you sell. Many leading apps and software solutions offer customized modules and features that appeal to companies selling related products.
Footwear
You have to maintain consistent levels of availability throughout the sales window. When it comes to inventory replenishment at online and in-store retail outlets, having the right shoe in the right size and the right color is often the difference between a sale and a disappointed customer. With merchandise spread between dozens or hundreds of stores, or with online inventory spread across multiple warehouses, managing online databases and controlling all units from headquarters is a challenge.
Footwear manufacturers purchase raw materials from multiple sources, often with multiple tax obligations. Multiple types of units need to be connected: Internal (head office, manufacturing, retailers and distributors) and external (vendors and customers). A tailor-made ERP solution will standardize and streamline this process and improve operational control.
Jewelry
Maybe you dabble in beads and birthstones. Maybe you sell the raw materials used by Etsy crafters. Or maybe you’re head of sales or operation for a well-known brand of high-end luxury watches, rings and necklaces. For all of these jewelry operations, tracking inventory lies at the heart of the business.
For jewelry retailers, every transaction could open the doorway to a lifelong relationship. That’s why encouraging loyalty through customer satisfaction means repeat business. Airtight accounting for your physical inventory will also save you time and money in the event of an insurance claim. It will even help prevent internal theft.
A variety of inventory apps are available that keep the jewelry industry running along. A best-in-class jewelry inventory management solution can manage jewelry-specific qualities like sizes, finishes, and materials. Sellers also need modules to help with production planning or help with memo sales, in which a supplier sends their goods to a merchant consignment for sale. These arrangements are specific to the jewelry industry.
Accessories
From handbags to scarves and hats to newer items such as wearable tech, underwear, T-shirts, socks and belts, “accessories” are more than just an afterthought.
Inventory management for accessories means dealing with the same challenges faced in the apparel industry as a whole. For example, you’ll want to ensure you are never out of stock by taking advantage of programmable reorder points. Make it easy to add items at the checkout and your average order value will skyrocket.
Conclusion
The development, production, transportation and consumption of clothing and apparel products is happening faster. Apparel manufacturing is a global enterprise, with constantly-changing variables that affect the speed and cost of order fulfillment. Rapid product cycles and ever-changing tastes mean fashion retailers have to respond quickly.
Outdated inventory processes can slow your business down. If your competitors are using up-to-date features and cutting-edge functionality, hanging on to software that has reached the end of the road (and which is no longer getting IT support) will become a liability.
New systems are faster. They are optimized for mobile and omnichannel sales. They give you the stock allocation features that are now standard. You should be able to optimize inventory to what your customers want to wear. You should be able to integrate all your sales channels by connecting your ecommerce platform (Amazon, Joor and other marketplaces) to your updated inventory management system. You should go out and get the competitive edge you need.
That’s why updating legacy systems to the right inventory management software for your apparel business will boost productivity, beef up IT security and enhance customer satisfaction.