Fashion Tech for Growth: ERP Solutions for Small Businesses & Startups
The fashion industry needs to remain efficient to grow. This is particularly difficult for small businesses and startups. Once you factor in unsold items and seasonal price adjustments, the net margin can be extremely small. Fortunately, enterprise resource planning (ERP Solutions) is available to companies of all sizes.
ERP can optimize your inventory, make it simple to streamline your operations and assist you with supply chain management. These factors can help startups and small businesses stay afloat during lean times.
What is ERP in Fashion?
Enterprise resource planning (ERP) software helps you run your business processes more efficiently. From supply chain management to inventory management, this cutting-edge technology provides everything necessary to make data-driven decisions. ERP is a unified platform made specifically for the fashion industry, and it also offers a way to track everything from the very beginning.
Key functions of these software tools for business growth include:
- Inventory – Gain an instant look at your inventory, even across a variety of retail stores.
- Supply chain – Track your supply chain from the moment you order raw materials until your fashion designs hit stores.
- Finance – A robust accounting feature that consolidates invoices and provides an activity report.
- Order processing – Track each order you receive from the order itself all the way to the invoicing process.
Challenges Faced by Small Fashion Businesses and Startups
One reason the fashion industry is plagued by companies that didn’t make it is that limited resources are a big problem. Additionally, fragmented processes and scaling issues can also represent major hurdles.
Having the ability to streamline your operations and receive better data management can help overcome the previously listed issues. In fact, we’d go so far as to say that data management and streamlined operations are an absolute must for smaller companies. Therefore, purchasing a unified platform with seamless integration and advanced analytics can ultimately add up to significant cost savings.
What makes ERP software solutions even more critical is that they can help level the playing field between startups/small businesses and industry giants. How can you hope to compete against designers that have a much bigger footprint in the industry? Well, you might not be able to directly compete with their total output, but you can certainly remain in the game thanks to an ERP.
How ERP Addresses These Challenges
One of the main components of ERP solutions are its centralization of business operations. Rather than using a hodgepodge of different tools, an ERP offers a user-friendly interface that enables you to keep track of everything on one unified platform. This makes your workday much easier and more efficient.
Furthermore, when you select the ERP from N41, you’ll gain the ability to automate many of your regular practices such as inventory management, order processing, and supply chain tracking. Your ERP also offers seamless integration with UPS API and the automated invoice process, thereby eliminating yet another extraneous program.
Using these advanced features, including inventory management techniques, will increase customer satisfaction. Offering a more personalized approach to each person who contacts your customer service department is also a nice touch that will help you compete against bigger companies.
Key ERP Features for Small Businesses and Startups
Inventory Management
Inventory management with real-time insights is the best way to avoid overstock/understock issues. You’ll be able to track each individual piece efficiently and effectively.
Supply Chain Management
With an ERP’s supply chain management feature, you can enhance delivery accuracy, manage logistics, and improve supplier relationships.
Financial Management
Stay on top of your finances with expense tracking, automatic invoicing, and tax compliance features.
Scalability
N41’s ERP solutions stand apart by offering a versatile, scalable software solution. As your company grows, we can scale it up to meet your needs.
Data-Driven Insights
When it comes to informed decision-making, there is nothing quite like having real-time analytics on your side.
Customizing ERP for Small Businesses vs. Startups
Whatever your specific needs are, N41 can meet them. For instance, if you’re a startup, we can help you focus on scalability and adaptability as you grow. Meanwhile, small businesses typically want to take greater control of their operations and inventory. Our ERP is also made for those operating on a tighter budget. You’ll also love the mobile app, which makes it simple to manage critical operations on the go. We provide an efficient transition with integrated apps too.
Benefits of Implementing ERP for Fashion Growth
With operational efficiency, cost savings, and improved customer service, the main question is why wouldn’t you switch to an ERP? Each feature was designed to have a big impact on business growth by giving you more time to focus on creating top-notch designs, rather than manual tasks. N41’s ERP is user-friendly, minimizing downtime and ensuring your employees are operational in no time.
The Future of Fashion with N41 ERP
Using an ERP is easily the best way to help your small business or startup grow. It will also give you and your team a foundational tool for future success. N41 is ahead of the curve in offering high-quality customer service, innovative features, analyzable data, automated inventory, and integration with other important tools.
Want to see what N41 can do for you? Request a free demo today!
