This article was published on: 11/11/21 11:50 AM
As we all have rejuvenated ourselves from one big festival and are preparing for the next one soon, it is my pleasure to convey my warm wishes to you and your family for a healthy and prosperous year ahead. At this juncture, the fear of falling prey again to the pandemic is still prevalent in the back of our minds. However, with an altered mindset for work as well as our perceptions of life now, we know that the show must go on. All our patrons who have adapted to the change in methods of doing business and adopted digitisation are already on their upsurge of renewed profits. It makes team Expand proud to be a part of this journey of recovery for most of your businesses.
In this edition of Expand Express I would like to highlight the success rate of garment manufacturers who have adopted a best fit ERP software to manage the ever changing industry.Besides this, I have also curated an article on the benefits of integrating your existing accounting software with your advanced ERP system.This will throw some light on the unique features and benefits of an advanced ERP solution and how it helps entrepreneurs like you to curtail daily operational challenges resulting in profits and success.
Team Expand wishes you and your team a very blessed season’s greetings. This is a reminder for you to know that we are a part of your growth. We wish the very best for your organisation as your success is our victory.Our team gets motivation when you achieve desired results and inspires us to aim higher.
CEO, eDominer Technologies
The garment industry has been greatly challenged by the growth of a global market of international brands as well as E-Commerce over the last five years. It is a known saying that “Change is the only constant!” Thus the only solution is to adapt to the change and embrace the positives of the current situation.
The solution for the sustenance of the manufacturers in the garment industry has been researched and tested. It is to meet the updated operations, enhancing supply-chain and distribution to meet customer demand. A best fit Apparel ERP is used on a greater scale to get detailed data of orders online, form query responses, effective control and plan and schedule orders accurately.
ERP is used in the apparel industry for a garment manufacturing process, design, material checking, shipping, and distribution. A fashion ERP provides a centralized database of all the business processes.
Managing an apparel industry without an ERP Software is close to a disaster. An ERP software for manufacturers in the Apparel industry helps the organization anticipate user demand patterns, wishlists, and clients requirements. As per the latest research of the Apparel Business and ERP Software Industry market provides a comprehensive assessment of the key factors driving the industry growth. It also lists out the existing challenges and opportunities crucial to business expansion in the future. It provides an economically wide database to enhance business management and boasts a dedicated section for considering leading players. So, the impact of the pandemic is covered too.
Why Does The Fashion Industry Need a Apparel Management Software?
Market dynamics shift on a daily basis, heightening rivalry among clothing brands to attract more customers. Consumers are more drawn to a wide range of options. As a result, if they go shopping, they will look for exclusive deals and schemes. Apparel management software allows you to control costs and losses by organizing inventory. Based on the sales data, you can categorize the least and most common products. It will help you make better choices such as placing new orders, introducing discount plans, and so on.
Apparel software is suitable for large, medium, as well as small apparel brands that want to upgrade their operations and grow fast in the lifestyle market. You get a comprehensive, cost-effective, and adaptable software solution tailored to your company’s requirements. When all on your premises are connected, you will be able to retain more customers. It will allow you to respond to customer inquiries more effectively, increasing your growth revenues.
Top reasons to adopt an Apparel ERP software
A best fit ERP software in the apparel industry offers businesses several benefits in monitoring operations, helping the organizations to plan effectively and work on a unified, seamless platform for greater operational efficiency.
Planning Inventory Management
It lets the business comprehend the basic ideas of cost while maintaining the right mix of merchandise across the organization. Monitoring the state of stock/inventory of the Organization gives a proper picture of the status of the raw material and makes planning and management easier.
Improves Production Planning
With an advanced ERP software, organizations can draw the best and most cost-effective schedule in planning and control of production.
Digital transformation has made it necessary for key personnel to have access to reports and information 24/7, remotely, from any authorized device.
Enhances Time Management
To fulfil the purchase orders quickly while allocating the right person the right work, ERP software makes it possible. It helps in reducing errors, redundant data entry and other problematic activities. With an ERP software, real-time tracking and reporting of resources at the warehouse, shop floor, procurement, shipment is also possible.
A Hub of Multiple Functions
The dashboard offers a complete view of every department or operation which includes Production, Supply Chain Planning, RCCP, QC, Warehouse Management, Finance, HR, Sales, Marketing, Shop Floor Control.
ERP facilitates prompt decision making, productivity and improves the connection between vendors, customers, and coworkers by offering the correct information to the authorized users who work from anywhere in the world.
Enables inter -Department Collaboration
ERP software for the apparel industry includes a plethora of features. The main benefit of this integrated platform is that it allows employees from any department to use the same system, making data entry, editing, accessing, and transferring information much easier and faster.Thus it promotes better networking and communication among team members and departments, allowing for uninterrupted services during operational hours.
Streamlines business operations
When important business data is spread across multiple platforms, it is difficult to access when needed. As a result, apparel companies frequently find ERP systems useful in consolidating data into a single platform and retrieving information in a common usable format much easier. Furthermore, an apparel ERP system enables role-based permissions, allowing control information employees have access to and grant permission only to the appropriate personnel.
Indian Textile Industry is one of the largest industries in India. It is the second largest in terms of providing employment opportunities to more than 35 million people in the country. It contributes to 7% of industrial output in terms of value, 2% of India’s GDP and to 15% of the country’s export earnings. It is quite overwhelming to realize that your textile company contributes to this statistics, knowing how arduous it is to manage a large manufacturing company. To make your business processing simpler, adopt our cutting edge ERP Solution on cloud and let the software manage your business processings.
The proverb , the more the merrier might not prove to be true for goal oriented business men, when it comes to picking the best business management solution for a company. However, for some, this could be just as valid as the battle of ERP vs CRM, HRM & Accounting softwares for picking them as a single solution or not always plays a dilemma on the minds of entrepreneurs.This is a confusion that if not addressed correctly might affect the overall business process in the long run.
Initially, you might have felt that your company wouldn’t require the service of a complete ERP solution and thus you decided to get just CRM, HRM or Accounting as a separate solution. However,after a few months, you started to realize that it is becoming cumbersome to maintain separate solutions for each department of CR, HR & Finance. It is at this juncture that you will feel the need for a fully integrated Enterprise Resource Planning that can maintain and communicate data inter department.
What happens when you have separate softwares to serve various departments?
It works as a basic financial accounting system for a company that provides accounting-related information mostly helpful for the future strategy-making for the business. The accounting solution enables tracking of financial data centrally within the international system of multiple languages, organizations, currencies, charts of accounts.The solution also helps in generating general ledger, account payables & receivables of the company transaction. Also when it comes to managing the fixed asset of the enterprise the solution plays a role in maintaining acquisition, depreciation, etc.In many solutions, the functionality also includes a financial process of legal merging of assets, financial status and earning of an association that acts as if it was for a single project. Moreover, it facilitates the opportunity to strategize the commercial parameters of the enterprise. It triggers an early alert in case the influencing factor becomes hard to identify when they become cynical and complicated to analyze.Some popular Accounting softwares are Tally,Zoho,Quickbooks etc
However, can these softwares manage your warehouse or productions or even strategy planning? The answer is No!
Which One Is Ideal for Your Business?
Both ERP and the single solutions of CRM, HRM & Accounting has its own purpose to serve in business. But it is also essential to understand when and why you should pick one of these solutions for your company. Otherwise, you might just regret your decision in the future.
Choose complete ERP software as a standalone solution when
- You feel the need for an all-in-one solution to manage the medium to large enterprise with integrated CRM, HRM or Accounting in the same platform
- You want to reduce the cost of overall business process & optimize revenue
- Access to CR, HR & Accounting related information at one place is necessary
- You want a solution that centralizes both front- & back-office business processes
- A company need to consolidate the given information collected from the different functional human resource, customer management, financial department of the enterprise from its framework of integrated CRM, HRM, and Accounting
Choose CRM, HRM or Accounting as a standalone solution when
- You feel the need to use any single solution separately at a time to manage the small to medium-sized business with the company
- You want to enhance your sales, employee satisfaction, account management process individually
- A company wants its related information to be accessed using each individual solution of the separate module
- You are required to utilize the solution to conduct front office activities
- The company needs a collection of data from any single functional module of HR, CR or Accounting at a time.
One Perfect Solution for All Your Business Needs
It is obviously clear by now about the perks of using one complete ERP against a single CRM, HRM or Accounting solution.
1. Starting an office over the web-
The medical wire business within Sandvik was looking to expand operations in the US, but the pandemic hindered our search for a new site. So, they did it entirely virtual instead.Biotech is booming right now, and many companies are looking to expand into new locations and markets. Certainly, this was the case for Sandvik medical wire business. The high-tech business segment, which develops precision wires and wire-based components for various fields of medical technology, was looking to expand in the US before the Covid-19 pandemic hit.
2. 5G is finally here – This is what you need to know
The 5th generation of mobile networks, 5G is the evolution of the 4G networks of today. It has been created to meet and surpass the massive growth of data and connectivity of IoT, changing today’s reality and paving the way for tomorrow.Along with instantaneously connecting billions of devices and its exponentially faster connection speeds, capacity, and communication response times (known as latency). 5G will make an astonishing range of innovative new products and services possible.