Maximize Profits: Retail Price Strategy With ERP Insights

Maximize Profits: Retail Price Strategy with ERP Insights

The retail industry is full of highs and lows, particularly with pricing. As such, getting your retail price strategy right is crucial. Price too low? You'll have sales but minimal profit. Price too high? You risk losing sales and permanently damaging your brand's reputation. Additionally, savvy competitors may capitalize on this, attracting loyal customers with better pricing. Therefore, finding the right balance is essential. N41 offers helpful tools and insights to master this balance, helping small businesses navigate their pricing…

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Mitigating Supply Chain Disruptions In Fashion With ERP

Mitigating Supply Chain Disruptions in Fashion with ERP

Despite experiencing these issues, more than half of fashion executives said they plan to raise their prices. Is this a smart move in a world that sees consumers already pinching their pennies? Time will tell, but if you want to better position your fashion company, it’s critically important to switch to an ERP. In fact, using ERP systems such as N41 is one of the best ways to take better control of your inventory management, giving you a much better…

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Store Inventory Control: Maximize Efficiency And Productivity

Store Inventory Control: Maximize Efficiency and Productivity

Store inventory control refers to keeping track of how many items are available at a retail store. This phrase also indicates everything involved in the process of ordering more stock. To get the full picture, it’s critical to include outgoing and incoming stock and items held in your warehouse. The goal of using store inventory control is to minimize the expense of hanging onto stock. Additionally, it’ll give you a much better feel for when it’s necessary to replenish stock,…

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What’s The Difference Between ERP And Accounting Software?

What’s the Difference Between ERP and Accounting Software?

Running a small business may initially allow you to get away with using spreadsheets to track everything, but eventually, you’re going to begin scaling up. Once you do, you’ll discover the many weaknesses inherent in relying on outdated processes to keep up to date with your company’s sales progress. For example, spreadsheets are: Difficult to test or troubleshoot. Time-consuming. Prone to errors. Make collaboration difficult. Prone to security issues. Make scaling problematic. In other words, it’ll be time to move…

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ERP Systems And Their Role In Sales Order Management

ERP Systems and their Role in Sales Order Management

Sales order management, also known as sales order processing, allows your ERP system to track each sale from beginning to end. Although each type of ERP can do this, there are some advantages to choosing one over the other. For example, N41’s ERP inventory management system sets them apart from the competition by virtue of its many benefits, including: Designed by industry experts. Scalable and versatile. Innovative features (integrated UPS API, built-in order approval request form, etc.). All-in-one system. Superior…

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Best Practices For Successful PLM Software Implementation In Apparel Companies

Best Practices for Successful PLM Software Implementation in Apparel Companies

Although product lifecycle management (PLM) software is—by far—the best option for apparel companies, it will take some time to ensure everything goes correctly with PLM implementation. Therefore, it’s a wise idea to have your game plan in place before implementation begins.  The PLM implementation process will include many different things, such as:  Establishing a clearly defined goal.  Putting your implementation team together.  Choosing your PLM solution carefully.  Devising a training plan.  Testing it out.  Going live and measuring the results. …

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The Benefits Of PLM Software For Apparel Design And Production

The Benefits of PLM Software for Apparel Design and Production

The fashion industry is always growing and changing. Being able to predict the next big style and get it into production quickly is a big challenge, especially with companies like Zara introducing a whopping 24 collections annually. Fortunately, using product lifecycle management (PLM) software can give any company a leg up on their competitors. After all, PLM provides designers with a centralized hub for coming up with their designs. Then, once a design is approved, PLM helps the company track…

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Cost Considerations For Implementing PLM Software In The Apparel Industry

Cost Considerations for Implementing PLM Software in the Apparel Industry

Product lifecycle management (PLM) software provides a big benefit to the apparel industry. One of the major reasons to make the switch is that it’ll give you a much easier-to-use platform for keeping track of every item of clothing in your catalog. From the initial design phase to the finished product, PLM software offers a way for designers to work on a piece together, even if they’re not physically in the same space. There are, of course, some things you…

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Selecting The Right PLM Software For Apparel Businesses

Selecting the Right PLM Software for Apparel Businesses

When it’s time to select the right product life cycle management (PLM) software to assist your business, there are a number of different variables you’ll want to consider. High on this list is how easy the PLM will be for your staff members to utilize. What else should you consider while looking for the very best PLM for your apparel business? Read on to find out! Factors to Consider When Choosing PLM Software Here’s where the rubber meets the road—you…

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Understanding PLM Software For The Apparel Industry

Understanding PLM Software for the Apparel Industry

If you work in the apparel industry, the odds are high that you’re already familiar with PLM software. However, do you fully understand how it works, what its purpose is, and how to get the best possible results? In this article, we’ll explore PLM in-depth to answer these questions and more. What is PLM Software? PLM stands for product life cycle management. Essentially, your PLM software should manage information regarding the apparel industry, starting with the concept of a new…

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