Business Intelligence Makes for Intelligent Business
AIMS, the fashion industries’ leading apparel ERP software company has been offering solutions to thousands of apparel companies for the past three decades. In those many years, companies have not only been able to take orders, manage inventory, plan production, ship, etc., they have also gathered years of data which AIMS has successfully been able to allow clients to extract and analyze. AIMS has recognized the need of more sophisticated reporting by clients and has developed and introduced numerous new business intelligence tools to help clothing manufacturing companies grow to the next level.
The days of crossing your fingers and hoping you’re making the right business decisions are long gone. Today, with business intelligence tools at your fingertips, you can run your apparel business based on hard facts and key insights that help guide your critical business decision making, so you confidently travel down the most beneficial strategic paths. Imagine knowing precisely which fabrics yield the largest revenue in the spring in Latin America. You would use this information wisely, wouldn’t you?
This is the power of business intelligence. You have all of the hard data you need about your business and performance in order to substantiate important business decisions you are about to make. You will run your business based on intelligence, rather than simple intuition. This is how companies across all industry sectors operate today, and this same technology is now available to the fashion industry. Now is the time to consider employing it in your organization.
Business intelligence is about more than just having access to good data. It’s also about having that data displayed in meaningful, visually representative ways that offer you real business insight. Today’s business intelligence tools offer reporting features that bring your data to life so you can identify key sales trends in your business, identify hot sales areas, anticipate product shortages, or understand whether your sweet spot is with specialty stores, boutiques or department stores.
Different business intelligence reports can help different areas of your business. For example, some reports detail important sales data to help focus your sales efforts on the most profitable regions or types of customers. Other reports offer insight into order fulfillment so your warehouse can stock up on goods according to actual demand. Reports on your different product lines help your design team create garments that are sure to sell, rather than focusing on products they only believe to be popular.
In the market today there are many business intelligence tools designed to offer this type of information, such as AIMS 360 apparel software, and others. These types of all-in-one business management solutions include substantial business intelligence functionality so you can better understand your customers’ needs and how to operate most effectively. Once you employ this software, you typically have access to a number of pre-defined reports, which you can further customize to garner the specific information you are most interested in.
At the touch of a button you will have real intelligence at your disposal that you can use to immediately improve your business and increase customer satisfaction.
What follows is a look at some of the types of reports you can use with your new business intelligence software to uncover real business insight. These reports tend to have a multitude of built in options that allow you to uncover trends by time period, by product line, by region, by customer segment, by fabric or even style, by revenue, by source of business (which tradeshows yielded the most orders) and much more.
Order Summary Report:
You will know which advertisement you ran last month, for example, led to the most garment sales, or which of your product lines is doing the best and in what regions of the world. You will also understand which tradeshows to skip out on next year based on how little revenue you garnered from them this year.
Delivery Schedule Report:
You will know far in advance if you have enough goods on hand to fulfill the orders you have on your books. This enables you to preemptively pull out-of-stock items from your shelves or website, for example, until you have ample inventory. This will go a long way toward avoiding unhappy customers, return orders and so on.
Order Line Item Detail Report:
You can easily determine which colors are selling the best, which fabrics account for the most returns and which garment styles sell well during which times of the year. Your creative team will have the insight needed to design products using the colors, fabrics and styles that are most in demand.
Journal Sales Report:
You will know which product lines are doing the best and the worst in which regions of the world and with which type of customer. You might learn that department stores run out of your designer scarves in winter months and you need to stock-up sufficiently to meet their demand. This single piece of information can mean the difference between a successful relationship and a strained one, and high sales revenue versus low sales revenue.
These are just four out of the hundreds of reports that can run using the AIMS apparel ERP software. The possibilities are truly endless.
Take the time to learn even more about how business intelligence tools like AIMS360 can help your business operate more intelligently and perform more successfully.