There has been an upsurge of digital transformation in the fashion and retail sector since the outbreak of COVID-19. Enterprise Resource Planning (ERP) solutions have taken the world by storm, and the apparel sector has not been left behind in any way.
ERP software provides a centralised data management system. It helps combine the different areas of the business process into a single, integrated system. If you are looking for an ERP software option for your fashion or retail business, Infor M3 for fashion & retail is one of the best options currently available in the market.
Read on to know more about the Infor M3 ERP solution.
Benefits of Using ERP Software in the Fashion and Retail Sector
A recent statistic revealed that the global ERP market size in 2019 was $39,340 million. It is expected to reach $86,303 million by 2027, increasing at a CAGR of 9.8 per cent from 2020 to 2027.
Amid this growth, fashion brands and retail companies are under constant pressure to offer personalised, omnichannel shopping experiences for their customers.
Therefore, it is essential to leverage an end-to-end software solution like Infor M3 for fashion & retail ERP systems.
A Fashion ERP suite can provide:
- An enhanced real-time view of business procedures.
- Automated payments and invoice generation.
- Personalised customer service with order processing and returns management.
- Simplified and seamless data analytics to understand consumer behaviour.
- Improved inventory and planning management.
Why Should You Select Infor M3 ERP Solution?
Infor M3, a part of the Infor CloudSuite fashion platform, is a cloud-based ERP solution. It uses the latest technology and powerful analytical tools to manage the entire business process. Infor M3 is a leader in industry enterprise cloud-based solutions.
The key features of Infor M3 are:
Enhanced Supply Chain Visibility
Infor M3 offers end-to-end supply chain visibility, right from sourcing the raw materials to delivering the finished products. Using innovative supply chain management tools, you can have a centralised inventory control of the products.
It also supports e-invoicing and payment automation along with multi-channel shipment tracking of goods.
Circular Fashion Business Model
A fashion ERP suite supports sustainable business practices for the fashion sector. It can design and develop recyclable clothes and retail goods to avoid wastage in the manufacturing process.
Integrated Production Management
Using the Infor M3 software, you can keep track of the entire production process. It includes details like order scheduling, production details of goods, and keeping a record of the labour and materials used. It helps guarantee faster order delivery and improved customer satisfaction.
Business Intelligence and Analytics
Infor M3 uses fashion-specific automation and machine-learning technologies. It helps users develop KPIs and data cubes to enhance the business process model. Users can drive sales with new data-driven ways and improve customer satisfaction.
The ERP system is a multi-channel financial business management tool. It allows retail companies to track stock renewal and price competitiveness in the global market. A centralised view of financial transactions allows users to govern an international business spread across multiple countries.
Gathering real-time accurate information about inventory, sales, and purchase plays a vital role in a successful retail business. Installing an ERP solution can give easy accessibility to data and help improve business practices to maintain a competitive edge.