Raw materials, retail space, etc, everything is becoming costlier. Anyone who sells garments must do everything they can to make procedures more effective. Fashion retailers are searching for ways to enhance the customer experience when they visit the stores, while online shopping becomes more and more appealing and convenient to customers. The retail environment has become extremely complicated in the last few years with multiple channels opening up online as well as on the ground. So, managing inventory becomes a little trickier for the retailers. Inventory allocation must be done in a way where you compare the risk of stockouts vs the risk of waste. One needs to take into account the speed at which inventory can move from distribution centers to stores.
Technology is completely revamping the industry and the way it functions. There were times when inventory managers would manually fill spreadsheets, but now, everything is automated. Due to advances in AI/Machine Learning, all the data is becoming more accessible. Small retailers and mid-sized businesses can have a greater deep dive into insights that makes optimization possible.
Below are some points that will help you deeply understand How BlueKaktus Helps Fashion Retailers Manage Inventory-:
Dead Stock report
Bluekaktus inventory management solutions can reduce Dead Stock that plagues your business. Reducing Dead Stock should be a top priority. With BlueKaktus Inventory management Software, information will be shared across all of your departments in real-time, which can help to prevent Deadstock by providing regular reports.
Movement of material to other locations and store
BlueKaktus enterprise resource planning (ERP) software gives you full visibility of your inventory at all times. This helps you make informed
decisions in terms of how much stock you have in hand, what items move quickly and what don’t, which in turn helps you keep your carrying costs to a minimum by not overstocking your warehouse.
Stock Valuation
Our ERP system helps avoid missing sales due to a lack of stock. At all points in time, you’ll know insights for each item so you exactly know when to place an order with your suppliers. BlueKaktus ERP helps you generate orders based on past data reducing the chance that you’ll run out of an SKU when you need it the most.
Increase Supply Chain Accuracy
What contributes to supply chain success? Optimized Inventory, real-time item tracking, packaging accuracy, and speed. Our technology can help you manage your inventory and product shipments and enhance the accuracy along the full length of your supply chain.
Improve Planning/Forecasting
A good Inventory Management System needs to be able to predict/forecast the demand according to past data. That will help you plan better for the high-demand seasons. Accurate prediction allows you to better match customer demand while lowering overall operational costs.
Lot wise Stock tracking and management
BlueKaktus comprehensive Inventory management solutions can give you full insight into Inventory and help you maintain consistency across all sales channels.
Streamline Production
An inventory management software should create a balance between producing goods at the right time, producing goods in the right quantity to meet demand, and producing goods at the minimum possible cost. BlueKaktus Inventory management software helps you achieve the same with precision and control.
In the apparel industry, you may be dealing with a wide range of product sizes, colors, and styles. BlueKaktus’ enterprise resource planning (ERP) software provides structure to your organizational management, helping to organize your business and allowing consistent access to accurate data at a moment’s notice.
