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6 Steps to Choose the right ERP System for Fashion Industry

In order to gain a competitive advantage, businesses in fashion industry need to respond quickly to evolving customer preferences and technical advancements. And this is when an ERP system becomes useful. Although there are plenty of them available in the market which can claim best offerings, but these claims may not be necessarily true. Then how to select the best one amongst all? Check out the presentation to know the steps to choose the best ERP software for Fashion business.

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6 Steps to Choose the right ERP System for Fashion Industry

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  1. 6 Steps to Choose the right ERP System for Fashion Industry

  2. An Overview • Introduction • Why fashion industry needs an ERP ? • Preliminaries that a fashion ERP should offer • Steps to choose right ERP system • Benefits availed by fashion industry • Conclusion • About BatchMaster • Business benefits with BatchMaster ERP

  3. 1 Introduction • In today’s ever-changing market, efficiency and transparency are needed for fashion businesses to remain competitive. • An industry specific ERP softwarerecognizes complexities of fashion product orders. • Automating operations of fashion industry requires a strong software capable of - • Innovating quickly • Meeting retailer’s requirements • Managing complex product matrices • Staying in vogue with latest clothing trend is only the beginning, rather streamline operations make it move ahead. • Optimizing the manufacturing and distribution operations needs focus over –Omni Channel Sales, meeting varying seasonal & customer demand, managing colour schemes, and sizes and more.

  4. 2 Why fashion industry needs an ERP ? • The pace of market trends is accelerating at a greater speed • Omni-channel has become the king • Consumers are always into shopping and will seek for more variety • To retain customer • Control costs and losses • Increase growth revenues • Optimize inventory

  5. Preliminaries that a fashion ERP should offer 3 • Fully omni-channel platform • ERP integrated with e-Commerce for a seamless omni-channel experience. • Complete visibility • Complete business visibility and centralized management. • Fashionable features • Built to meet, unique needs of fashion businesses like multiple style sizes, colors & fit. • Seamless communication • Real time communication for local and overseas suppliers.  • E-commerce amplification • Integrate your inventory with e-commerce platform ,to get increased customer shopping, market insights and team’s productivity • Easy accounting • Fully integrated Accounting with complete transparency and balanced books.

  6. 4 Steps to Choose right ERP system • Fashion industry is very dynamic in nature, it needs to frequently change to accommodate varying market trends. • To select an appropriate ERP software for fashion industry, a thorough analysis of all the business requirements and challenges faced is needed. • Lets check all the steps necessary to select the best ERP system for fashion industry -

  7. 5 1. Know your requirements • Analyze your business operational flow and identify the loopholes, if any. • Do you need a standalone application or a full featured module set ? Ask yourself. • List down your complete business process and the challenges faced. • Shortlist few software and understand how your business requirements are fulfilled thoroughly.

  8. 6 2. Map your needs with ERPs capabilities • Multiple ERP systems are available in the market, try to shortlist the ones that meet your business needs. • Does the ERP system maps with your business process perfectly? Analyze in detail. • List out all the feature set that ERP offers. • Check the inbuilt capabilities handling style and non-style items over a flexible style matrix for colour, size, fit and design. • Accommodate full inventory characteristics for smarter logistics management, i.e. from procurement to delivery.

  9. 7 3. Compare the Cost vs. ROI Matrix • ERP deployment, indeed is a big business investment and, every investment needs to be measured on the scale of returns. • Calculating the total cost for every solution and business benefits expectations should never be ignored. • Make a list of all possible pros and cons next to the cost of deployment and judge wisely.

  10. 8 4. Check the system’s scalability • The ERP system should adapt to the changes w.r.t to demands, price variations, market dynamics and inconsistencies in raw material availabilities. • Opt for a solution that helps you in dealing with global supply chains, today and tomorrow. • Fashion ERP should • - Offer best consumer-grade user responsiveness. • - Capable to deliver unique business capabilities . • - Empowers your team to communicate and collaborate efficiently.

  11. 9 5. Practise caution while customizing • Fashion industry has unique challenges and so, availing the customised version of an ERP system is advisable. • These customizations can be both- to create a new product bottom-up, or built to your specifications. • You may go for customization in an already set-up fashion ERP so that basic structure could be known. • Ensure the Customization you have opted for works to bring out the best of the processes such as • - Designing • - Development and sourcing, • - Production • - Inventory management • - Multichannel distribution • - Omni-channel sales • - Finance, etc.

  12. 10 6. Being responsive is the success key • Today’s competitive business environment needs flexibility and responsiveness. • The new age cloud solutions offer facilities to operate key business tasks from anywhere, any time from any device at affordable price. • Get a bird’s eye view of inventory updates, order statuses and calculate sales in stock numbers • Provide accurate feedbacks to customer queries, vendor quotations, supply chain fluctuations. • Fashion ERP will provide better business performance and increased revenue generation.

  13. 11 Benefits availed by fashion industry • Integration of all business operations such as manufacturing, design, services, financial, sales and distribution, etc. • Better quality products and quicker deliveries. • The right information to the right people at the right time anywhere in the world. • Improves productivity and enhances decision making skills. • Provides multi-lingual support. • Reduces excessive or deficit inventory issues. • Helps keeping up with the trends. • Provides co-ordination at every step

  14. 12 Conclusion • Always select an ERP that is purpose-built for Fashion industry. • Cloud-based easily accessible ERPs work well on mobile devices, tablets, etc. and offer desired freedom and flexibility. • Adapt your styles with consumers changing needs and get your products to market faster than your rivals. • On a concluductary node, ERP will help fashion businesses to – • Enhance planning and decision controls • Reduce costs • Faster deliveries • Inventory intelligence • Product innovation • Smarter sales analytics • One such ERP is the BatchMaster ERP for fashion industry.

  15. About BatchMaster 13 • 30+ years of experience • ERP solutions for small to mid-sized industries • SAP B1 and Microsoft certified solution • Over 40,000 users worldwide • Headquartered in California, with footprints across the world • A global presence with offices in 3 continents- North America, Australia, and Asia • 7 offices round the globe • Available in 3 languages- English, Chinese, and Spanish • Original developer of formulation system in ERP • Consistent record of never exceeding implementation time of 350 to 500 hours

  16. 14 Business benefits with BatchMaster ERP • Manufacture products as per the market trends • Introduce products faster from competitors • Size-vs-style inventory matrix • Multichannel orders • Real time inventory visibility • Advanced BOM structure • Fast order processing and dispatching • Auto-replenishment of stock • Available on cloud

  17. 15 Business benefits with BatchMaster ERP • Supports in-house and contract manufacturing • Complete inventory accuracy • Supports automatic purchase and production • Absolute compliance to the industry regulations • User-friendly, actionable dashboards and reporting • Control costs through reduced wastage, optimum material utilization • Gain customer satisfaction, loyalty and repeat business • End-to-end bi-directional traceability • Improves operational efficiency and forecasts sales

  18. Resources • To know detailed steps for selecting a fashion ERP system, read our blog – Six Steps to Choose Right Fashion ERP • To know why Fashion retailers need an ERP software, read our blog - Apparel Retailers Need an ERP Even Before They Need Virtual Dressing Rooms • In case you wish to know more about ERP for Fashion, log on to www.batchmaster.co.in • Leave your contact details on sales@batchmaster.com, we will reach you shortly.

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