+44 (0) 207 648 2000 | LOCATION
  • en-gb
Improving Inventory Management and Reducing Buying Cycles in Fashion

Improving Inventory Management and Reducing Buying Cycles in Fashion

Following on from last week’s blog, Paul Rogers further examines the need to synchronise your systems

 It’s challenging enough to keep orders synchronised with your ERP system. The more orders you process means a greater need to replenish inventory numbers and update stock information.

Stock management is another manual task that employees need to administer. However the right system removes the risk of relying on employees to manually monitor and report on important stock level data. Instead, real-time updates (through email or SMS messages) automatically alert relevant team members to important changes and stock receipts.

 This is all well and good, however receiving a low inventory level notification can often present the beginning of a more complex business process. An order can easily deplete stock levels below an agreed threshold, which can trigger a manual and time consuming procurement process.

Automating the next step in this process provides the ability to streamline the creation and distribution of Purchase Orders to include single or multi-level PO authorisation workflows across business systems and departments. In essence, reducing buying cycles and providing a 100% accurate audit trail. Benefit from:

  • Stock notifications unique to your business rules e.g. negative allocations, shelf life, products with no web category, slow moving stock
  • Real-time stock receipt notifications
  • Automatic creation and distribution of Purchase Orders
  • Single and multi-level PO authorisation workflows

Business systems hold a wealth of critical information, yet businesses are still heavily reliant on employees to manually monitor and react to inventory changes. This manual approach is prone to errors and is an inefficient use of employee time. Automation reduces exposure to financial risk, optimises stock management, increases cross-department visibility of stock information and enforces best practice.

 What are the added benefits of automating order management, fulfilment and inventory processes?

By utilising integration and automation technology to sit in between existing/new business systems and applications, organisations can map out employee business processes and automate these to benefit from:

  • Stronger revenue streams
  • Operational savings
  • Reduction in the administration involved with compliance and ISO activities
  • Eradication of data entry errors and critical failure avoidance
  • Protected business software upgrade path
  • Extended capabilities of existing/new business software

Whether you need to invest in a new solution, integrate existing business systems or automate practically any business process, the possibilities are endless to meet the ever growing expectations consumers place on the fashion supply chain industry.

Find out more via our website, or visit us at the Fashion SVP exhibition in June.

 

Leave a Reply

Your email address will not be published. Required fields are marked *