NetSuite's ERP Helps Fashion Brands Manage & Grow Their Business
Wednesday, May 8, 2019Eric Zegarski
How NetSuite's ERP Supercharges Fashion Brands
Fashion retailers have a lot on the go at the same time. They need to ensure that their production operations are running smoothly, orders are being fulfilled and marketing efforts are driving sales. To automate most of their back-office operations, high volume brands use an ERP to help them manage finance, accounting, and merchandising. With the help of NetSuite’s ERP platform, they can rest easy that their back-office data is being properly managed. Now let’s dive in a bit deeper and explore how fashion retailers are using NetSuite to scale their businesses.
Organization Wide Transparency
NetSuite’s ERP solution allows for data and information transparency both down the corporate ladder and supply chain. Everyone from the CEO to the supply clerk has access to the same data source at the same time. This is due to NetSuite's cloud-based platform solution. As a result, allowing for real time access to relevant data for each person, no matter were in the organizational structure they are.
Unifying Their Sales Channels (eComemrce & brick + mortar)
NetSuite allows fashion brands to streamline their operations. In today’s modern commerce environment, fashion brands are selling in both physical and online marketplaces. One of NetSuite’s key features is that it allows data from both online and offline sources to be pooled. Therefore, these brands have access to real time inventory and sales updates from all channels on one dashboard. As a result, they can more accurately predict seasonal trends and limit the risk of a stock out.
Data Driven Results & Planning
NetSuite allows for true synergy between all endpoints in an omni channel commerce strategy. This is important if you're selling online, direct retail, and through wholesale vendors. This 360 – degree view makes it easier to execute cross-channel marketing and promotions. As a result, fashion brands can drive cross channel sales with targeted promotions and ROI analysis
How You Can Start Using Your NetSuite ERP Better
NetSuite has pre build reports that are ideal for fashion brands. These reports allow you to get a real-time view of your business operations. These pre-built metrics include:
- Inventory turnover & GMROII
- Product Category Report
- Sales Per Hour Report
- Same Store Sales Report
- Sell-Through Ratio Report Shrinkage Report
- Stock to Sales Ratio Report
- Units Per Transaction Report
- Weeks of Supply Report
- Weekly Style Trend Report
eBridge's iPaaS Solution Helps You Get the Most Out of Your NetSuite ERP
Our iPaaS (integration platform as a service) solution powers automated, bi-directional data integration between your NetSuite ERP, eCommerce
stores and any trading partners using EDI