Home / Knowledge / News / Information Technology / Aria develops consignment module for apparel companies
Aria develops consignment module for apparel companies
29
Dec '11
A consignment constitutes a reserved selling space within a department store in which apparel companies can sell their products. The apparel company places its merchandise in this area which basically functions as a "shop within a shop."

Only when the goods are sold and the sale is processed does the company bill the department store for the goods – less and already agreed commission/discount. The sold stock thus triggers direct invoicing on a weekly basis.

Opening a consignment space inside a department store is increasingly attractive to brand owners. A consignment gives the holder a far greater potential footfall, as well as the opportunity to market its goods in an established environment with similar products.

However, the allure of owning a consignment is somewhat dimmed when taking into account the difficulties that are involved with the manual management of its stock control. The manual processing of sales and inventory information inhibit merchandisers from controlling their consignment stock; causing inefficient replenishment in terms of stock shortages and the wrong stock being delivered to the wrong location.

The sluggish transfer of sales information to the consignment holder will moreover trigger late invoicing and ultimately cash flow problems. Thus, the process of consignment stock control, when done manually, tends to be inaccurate and slow.

In order to improve efficiency and maximize profit for apparel companies with consignments, Aria Systems developed an automated process which effectively deals with the oftentimes complicated and tedious process of consignment stock control.

The main goal of the new consignment module was to create a user-friendly and automated system in order to ensure reliable and accurate stock control. The module first of all downloads and processes the daily sales and returns data to the consignment holder electronically.

In addition it raises instant invoices and credit memos back to the retailer. In order to run a replenishment routine and ensure that each consignment has the correct amount of inventory, optimum stock holdings are set per consignment.

The replenishment scheme is controlled by the apparel companies' merchandisers. By attributing a grade to the stores they can control the type and quantity of the products sent to each consignment grade. This greatly simplifies the process of replenishment, the merchandiser only has to set up the optimum stock profiles three times for any number of consignments.

The consignment module moreover gives the apparel company accurate inventory and daily sales figures per consignment, it automatically replenishes inventory, and it monitors product turnover making sure the correct products are in each consignment to maximize sales.

Ultimately, Aria's consignment module provides apparel companies with an accurate, efficient, and easy method of replenishment to regulate consignment stock control.

Aria Systems


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search