The Business Problem
A European private-label clothing and accessory manufacturer that designs and manufactures its own line of apparels wanted to improve its stock management, store operation, and logistics capabilities to gain a competitive advantage in the market. They sought to implement item-level tagging to every item whether jackets, skirts, or socks to increase the efficiency of their inventory management system. Moreover, they wanted to deploy an inventory management system that could follow the implementation guidelines issued by the European Fashion Council and Textile Regulation.
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Solutions Offered and Client Journey
SpendEdge’s analyst team conducted a comprehensive analysis to optimize workflows and business processes that can help the client reduce human error in inventory management. Based on the analysis, they categorized products that were moving fast and devised inventory management strategies that could capture and share the information of products across all warehouse departments in real time and prevent errors in purchasing, sales, and billing.
The experts at SpendEdge offered an inventory management solution that was capable of saving time and money on store operations. They encoded EPC tags with Serialized Global Trade Item Numbers to every product at the manufacturing factory to gain real-time information regarding the delivery of items at distribution centres. This tagging allowed the client to inspect the entire carton in a few seconds by simply scanning the label/code. Moreover, with such an effective inventory management system, the inventory accuracy increased substantially and improved the process efficiency of the client.
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Key Finding & Outcomes
Faster Checkout for Shoppers
The improved inventory management system helped the client witness a noticeable difference in the shopping experience provided to customers. The stores and boutiques equipped with this system immediately read the chosen items and calculated the amount to be paid. This made the shopping experience smoother and faster for both customers and teams.
Provided Scope for Expansion
The improved inventory management process helped the client to expand their presence in different countries in Europe. Also, it reduced labor costs by making employees more efficient, while maintaining their current payroll. This increased their bottom line and alerted them to update their inventory of certain products after they reach below a designated level. Want to know more about benefits, request for more information.
What is the Role of Inventory Management in the Apparel Industry?
Inventory management plays a crucial role in the apparel industry as the inventory of goods changes frequently. Companies need to replace outdated fashion pieces with new ones and provide options to their customers on a regular basis that means the change of the inventory’s product mix.
Without an effective inventory management system, implementing changes in the product mix can be difficult and time consuming. Therefore, businesses need a proper inventory management system that can make things the complete process easier and faster.