Why Apparel Accounting Software is Essential in your Fashion Store

July 9, 2024
eCommerce, Fashion

When it comes to taking care of accounts payable, accounts receivable, financial statements, and general bookkeeping, it’s definitely a wise idea to utilize accounting software. After all, these functions are just as important as maintaining a correct inventory system, and no one wants to track them by hand anymore. Even if they could, you wouldn’t want them to, as it could easily lead to a big accounting error. Instead, protect yourself and your apparel business by providing your accounting team…

Everything You Need to Know About the Apparel Supply Chain

June 10, 2024
Inventory Management

Welcome to the complex world of the apparel supply chain—a crucial artery in the heart of the fashion industry. Whether you're starting out in the business or looking to refine your operations, understanding the intricacies of how your clothing moves from concept to customer is vital. This guide unpacks the key stages of the apparel supply chain, explains why each is important, and discusses the challenges and technological advancements that could reshape the future of fashion logistics. Read on to…

Maximize Profits: Retail Price Strategy with ERP Insights

May 7, 2024
Uncategorized

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…

Mitigating Supply Chain Disruptions in Fashion with ERP

April 23, 2024
eCommerce, Inventory Management

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…

Store Inventory Control: Maximize Efficiency and Productivity

March 11, 2024
eCommerce, Inventory Management

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,…

What’s the Difference Between ERP and Accounting Software?

February 14, 2024
News, Technology

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…

ERP Systems and their Role in Sales Order Management

January 10, 2024
eCommerce, Inventory 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…

Best Practices for Successful PLM Software Implementation in Apparel Companies

December 5, 2023
Inventory Management, PLM Software

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. …

The Benefits of PLM Software for Apparel Design and Production

November 14, 2023
Inventory Management, PLM Software

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…

Cost Considerations for Implementing PLM Software in the Apparel Industry

September 26, 2023
Inventory Management, PLM Software

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…