Bargain Basement
Quick: what’s the biggest cost in the apparel industry?
It’s markdowns. Roughly half of all clothing is sold at discounted prices. This may well be related to the fact that roughly half of all apparel companies are running standalone, legacy financial systems.
What’s the problem with legacy financial systems? They don’t give you the whole picture and they don’t give it to you quickly. Rather they give you bits and pieces of financial data in dribs and drabs. The drip, drip, drip of disparate data is like ancient water torture. Here’s a fashion factoid: many apparel companies can’t tell if they’re making money on a given collection until 60 days (or so) after the fact. No wonder they have to discount – price is the only thing they can control in real time.
So do we have a solution? You bet. Our software for the apparel industry can help you design, source, and manufacture. It can also help you plan your retail assortments, forecast demand, and keep track of your financial situation in close to real-time. You can typically tell what’s making money – and what’s not – in time to do something about it.
If you want to make a splash in the apparel business, you can use anybody’s software. If you want to make money in the apparel business, you should learn about Lawson.
As its name implies, The Lawson Opinionizer offers opinions. We believe we've got our facts straight but we don't guarantee it. A new Opinionizer appears every Monday. If you have an opinion, send an e-mail to Opinionizer@lawson.com
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