Apparel ERP Software: How ERP Drives Efficiency in the Fashion and Apparel Industry
The global market size of the apparel industry is expected to reach about $1.8 trillion in 2024, with an annual increase of more than 2%. As new trends continue to emerge daily, the industry has transformed into a lucrative global business sector. This offers businesses operating in the industry with the opportunity to maximise their profits. So, it is high time for apparel production companies to make a technology-driven move so that they become the first choice for new-age customers.
Wondering how to do that? The first step to embracing digital transformation to enhance customer centricity is by implementing ERP for the apparel industry and providing a competitive edge to the business.
But before we talk about the benefits of ERP, let’s first look at the challenges the fashion industry needs to address through this technology solution.
Challenges Faced by the Fiercely Evolving Apparel Industry
Here are some of the challenges that companies in the apparel industry face from time to time:
Managing Inventory Levels
Fast-changing consumer preferences speed up the inventory turnover requirements. The suppliers must accommodate every order placed by wholesalers and retailers and shorten the turnaround time. This puts a lot of pressure on sourcing raw materials, while maintaining quality and ensuring prompt transportation of goods.
Viewing, editing, and reporting data on a real-time basis has become the need of the hour. Without real-time data management, companies will fail to acquire insights into what is expected of them.
The apparel industry has multiple departments. Not bringing them to the same platform often leads to communication gaps, resulting in reduced accountability and increased chances of errors.
Keeping Track of eCommerce Transactions
With the burgeoning B2B and B2C online transactions, it has become imperative for fashion brands and textile businesses to exclusively manage their eCommerce accounts. Again, it is equally crucial to align it with the rest of the supply chain segments, while taking care of the CRM activities. Any gap between online and offline inventory management can lead to serious operational issues.
How can an ERP Solution help the Apparel Industry Navigate these Challenges?
An ERP system optimizes various processes of the apparel industry, helping streamline business operations. ERP systems incorporate technologies like AI, machine learning, and robotic automation for a significant business boost. Designed for high availability across all departments, ERP ensures employees have up-to-date data for unified performance and secures data with backups, minimizing the risk of accidental loss.
One such ERP solution that has constantly attended to the needs of businesses is Odoo ERP Software for the fashion industry. It is a simple, efficient, yet affordable solution that helps businesses to manage their operations. With numerous customizable modules, it streamlines apparel production and management processes, enhancing overall productivity.
This ERP solution is highly customisable and can accommodate any number of changes. It offers excellent integration capabilities, easily fitting into any existing business infrastructure.
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Benefits of Odoo ERP Software for the Apparel Industry
Odoo ERP offers companies belonging to the apparel industry multiple benefits:
Streamlining the Manufacturing Facilities
Companies in the fashion industry often struggle with raw material management, leading to setbacks. To maintain a consistent supply, proper management of manufacturing facilities is crucial. ERP for the garment industry offers real-time insights, enabling businesses to assess stock levels. It carefully manages various manufacturing aspects like sewing, dyeing, and packaging, ensuring stringent quality control.
Strategic planning in advance is a powerful method to streamline production and cut manufacturing costs. Proper planning eliminates unnecessary labor charges and ensures a smooth production process. The ERP for the fashion industry minimizes human errors, accelerating the manufacturing process and enabling the rapid production of bulk quantities, thereby boosting revenue generation.
One of the easiest and most convenient ways of increasing sales is to have a clear understanding of the customers, and an ERP solution can help with that. The ERP solution will help businesses acquire a complete understanding of their customers. The companies analyse customer data and gain clear insights into what their customers expect from them.
ERP systems help companies to offer their customers with personalised services. By analysing the purchase history, companies can offer customised product recommendations to the customers. This, again, helps businesses walk the path of profitability.
Acquiring Real-time Insights
With modern ERP software, the users have real-time access to data. They can perform analytics to obtain meaningful insights from the same. This helps in the decision-making process. The companies are able to see trends, predict changes, and make business decisions accordingly.
Apparel manufacturing ERP consistently introduces new functionalities. This allows continuous improvement and innovation in business operations when using cloud-based ERP software for the apparel industry.
Odoo ERP Modules that are Frequently used in the Apparel Industry
Some Odoo ERP modules specific to the apparel industry are:
Supply Chain Management
Supply chain includes all the activities starting from raw material procurement to the timely delivery of the end products to the customers. The apparel industry ERP system contains supply chain modules which track the movement of materials and goods throughout this process, enabling business owners to have complete control over their operations.
With Odoo inventory management system, various operations can be streamlined efficiently. One can manage orders, track inventory, handle GST billing, oversee warehouses, and do other tasks to increase the overall profitability.
The financial management module of an ERP system tracks the expenses made, and obtains detailed information about accounts payable and receivable. It also helps finance teams to make budgets. Company owners use this ERP to ensure there is a consistent cash flow and every financial aspect of the business is managed efficiently.
Materials Requirement Planning
MRP allows company owners to plan and schedule the purchase of raw materials and other components that are needed during the production process. It ensures that there is a constant supply of raw materials so that the production continues without any hindrance.
Customer Relationship Management
The CRM module allows businesses to promptly address customers’ needs and resolve their queries. It also helps in making advanced data-driven marketing plans that have become crucial in today’s competitive scenario.
You May Also Like to Read: How ERP Software Beneficial for Retail Industry
Why Choose Silver Touch for Seamless Integration of ERP Software for Apparel Business
Because of its enhanced set of features and improved operational efficiency, more and more companies in the apparel sector are shifting to ERP.This has increased the demand for a reliable implementation partner who will implement the ERP system in the existing workplace. Silver Touch is the ultimate solution for Odoo ERP implementation. The experts at Silver Touch Technologies are well aware of the various features and functions of Odoo ERP Software for the fashion industry. They will carefully take the business requirements into account and implement the ERP solution depending on the exact needs of the end users. With Silver Touch Technologies as an ERP implementation partner, businesses can easily explore the various features that ERP solutions have to offer.
Want to get a jumpstart on your ERP implementation? Explore Silver Touch’s ERP Solutions today!
FAQs About Fashion and Apparel ERP Software
The ERP solutions help streamline the various operations of the apparel business. It also allows business owners to acquire complete control over their supply chain, thereby increasing business efficiency.
Some of the important modules include:
- Inventory management
- Customer relationship management
- Supply chain management
The cost depends on the size and complexity of your business and the ERP features that you would want to integrate into your business operations.