Whether you run a small Etsy shop or a major e-commerce site that exports globally, there’s a good chance you’ve run into some challenges regarding fashion inventory management. The fashion industry in particular is plagued with problems related to the rapid turnover of fashion trends and seasonal wear. Plus, for every item that you sell, you need to stock inventory in multiple sizes and colors. Inventory management can definitely be tricky, but the following tips can help you get it under control.
Use seasonal codes.
Every retailer needs inventory management software. The software you choose should allow you to customize your codes for different products. This can help you keep your inventory organized. One easy way to organize fashion inventory is by the season and year. For instance, let’s say in 2020, you’re selling a blazer intended for spring wear. Your seasonal code would be SP20. Or, if you’re selling a dress intended for summer wear, your seasonal code would be SU20. These codes allow you to tell at a glance which item is appropriate for which season. You’ll also be able to tell how long you’ve had that item in stock, thanks to the year code, which can help you decide whether to slash its price.
Integrate returns and exchanges into your inventory management.
The inventory management software program you use should also include options for integrating returns and exchanges. Fashion retailers in particular tend to have a high rate of returns and exchanges, as customers may buy something in the wrong size or decide they don’t like the item. As soon as you scan the returned item, your system should automatically reflect the extra item in your available inventory.
For all of your inventory storage needs, you can turn to Xcel Delivery Services. You can keep your excess inventory at our affordable distribution center in Phoenix, and have it shipped directly to customers located anywhere. Get in touch with our team at (602) 368-1300 to request a quote.
