Inventory management came about when the task of managing inventories became too tedious a task for manufacturers and retailers of products. It is the science of specifying details about the percentage of stocked goods and overseeing and controlling the ordering, storage and use of the components that a company will need for its product manufacture.
The use inventory software along with the apparel software will result in a very smoothly running business. The apparel software plays a great role in keeping track of and controlling the manufacturing, import/export, and sale of apparels. The two software need to be allowed to work together in a fashion industry to deploy greater scalability, performance and total cost of ownership than the conventional apparel ERP and PLM systems.
Inventory Management Software
An inventory management software deals with the assortment, tracking, sale and even tax management of goods using a software. It helps in efficient transactions without causing the manufacturers or retailers much trouble. It supports OEM/EN barcodes, has a multi-level hierarchy and even provides images of different goods.
It helps to easily assort products using mass-update of item masters, allocating items to POS locations via groups, and even planning inventories based on assortments and articles. Moreover, it provides support for item export/import via Excel.
Inventory control and tracking is another advantageous feature of the inventory management software. It gives reports on goods-in-transit, work-in-progress valuation during production, and inventory valuation just one button click away.
It also automatically calculates the taxes involved.
Apparel Software
The basic retail point of sale software does not have the required inventory features to manage merchandise dimensions such as size and colour of a product. Even though this can be ignored in most businesses, it cannot be done in the fashion industry. So, instead of wasting countless hours creating SKU numbers and collaborating the dimensions of each product, the apparel software is used. The apparel software is a variation of retail point of sale software.
A few features of an apparel software are as follows:
•Tracking collection and fabric.
•Tracking the season for the production of the seasonally required apparels.
•Identifying required merchandise categories such as brand, gender, top and bottom apparel, fabric, etc.
•Analysis based on season and subsequent sale
•Seasonal promotions and date sensitive markdowns
•Tracking of stock-ageing by season
•Creating profiles of a customer's size, brand, preferred style, store, etc.
•Data and information accessibility in real-time at the back office and retail store with the POS.
So, for maximum results, an inventory software has to be used hand-in-hand with an apparel software in the fashion industry for optimum results. It goes a long way in the smooth handling of things and managing things less tediously.
All you need to know about Inventory Management Software
To know about inventory management, you need to be familiar with the concept of inventory. Any business will have a component called inventory which is, in layman terms, a list of the products to be sold.
An Insight into Point of Sales in Retail Management
Point of sales is pivotal to any business. Most businesses invest a significant amount of time and resources into ensuring that their Point of Sales is on point. In today’s world, there are an extravagant number of businesses.
Why Your Business Needs an Inventory Management Software and Retail Point of Sale Software?
Before starting, what is an inventory? An inventory is defined as a complete list of goods in stock. For managers and retailers of all sizes of businesses, managing the inventory on different levels and tracking the goods throughout the supply chain is a very tiring task.
