It might come as a surprise to many, but one of the most widely used tools in the fashion industry isn’t a design software or a social media platform—it’s spreadsheets.
In fact, Excel is a staple in nearly every aspect of fashion, from organizing inventory and managing samples to planning collections and analyzing sales data.
According to the labor market, fashion professionals who list Excel as a skill on their resumes can earn, on average, $22.66 per hour, compared to $20.14 for those without it. That difference might seem small, but it translates to thousands of extra dollars annually over time.
As the digital world evolves, so does the fashion industry. Many fashion companies still rely on spreadsheets, seeing them as the lesser of two evils, but they struggle with the challenges they bring. How can PIM help? Let’s dive in!
Spreadsheet Supremacy in the Fashion Industry
Excel is prevalent in fashion because it’s a versatile tool that can handle many tasks. Excel is often the go-to solution, whether you’re a buyer tracking product performance, a merchandiser forecasting demand, or a designer organizing materials.
However, despite its ubiquity, Excel is far from perfect. Many industry professionals view it as more of a necessary evil than a helpful tool. Spreadsheets bring a host of challenges that can seriously decrease productivity and accuracy.
Common Challenges of Spreadsheets
- They are prone to errors—studies show that nearly 90% of spreadsheets contain mistakes. Even a tiny error can lead to significant setbacks in an industry as fast-paced and detail-oriented as fashion.
- Additionally, managing large amounts of data across multiple spreadsheets can quickly become overwhelming, leading to miscommunication, data duplication, and version control issues.
So, if spreadsheets are causing so many headaches, why are they still so widely used? And more importantly, how can fashion companies overcome the limitations of this outdated tool?
What is Product Information Management (PIM)?
A Product Information Management (PIM) system is a specialized business tool that centralizes all your product data. It provides a single platform to gather, manage, and enhance product information, compile product catalogues, and share them across sales and used channels. A PIM simplifies and accelerates the creation and distribution of compelling product content.
PIM enhances your work process by being;
- more efficient
- faster (in terms of business operations)
- more collaborative
How Does Product Information Management Work?
A PIM collects data from multiple sources, including ERP and PLM systems, CSV and XLSX files, and pre-built connectors and allows you to manage every aspect of the data collected, such as;
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Technical Data (specifications about the product)
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Usage Data (guidance on where and when to use your product)
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Emotional Data (manages human side, product description, brand stories and so on)
PIM then enhances product information with additional details and multimedia content, as the first collected and then organized data serve as the base. Then, it shares accurate, up-to-date product data across sales channels.
PIM Solution: Tackling Challenges Spreadsheet & Outdated Technologies Cause
1. Data Entry Errors Challenge
Manually entering product information into spreadsheets often leads to errors, especially when handling large volumes of similar products. When moving data around, it’s easy to input data into the wrong cell or delete critical information.
- Imagine managing five variations of a drill. Details for one drill could easily be accidentally entered under another’s row. Tracking down and correcting such errors is tedious and time-consuming.
How can PIM help?
A PIM system automates data entry, reducing human error and ensuring that product information is always accurate and up-to-date across all platforms.
2. Duplicate Documentation Challenge
Creating separate spreadsheets for different retailers or customers often leads to document duplication. This slows down the update process and increases the risk of sending outdated or incorrect information.
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When updating product details for multiple retailers, each with its unique format, the manual process can result in discrepancies, leading to costly mistakes.
How can PIM help?
PIM centralizes all product information, providing a single source of truth. Updates are synchronized across all channels, eliminating duplicates and ensuring consistency.
3. Employee Continuity & Information Siloing Challenge
Reliance on critical employees for spreadsheet management creates risks when they leave or are unavailable. Essential product information can be lost, causing delays and inefficiencies.
- If a long-time employee who manages spreadsheets leaves suddenly, the team may struggle to find and verify critical product data scattered across various documents.
How can PIM help?
PIM ensures continuity by centralizing data in a system that all team members can access, regardless of personnel changes.
4. Version Control & Product Information History Challenge
Spreadsheets lack version control, making it easy to overwrite or lose historical data. This can lead to sharing outdated product information, damaging customer trust.
- Launching a new product while accidentally sharing details from an older version can confuse customers and harm your brand’s reputation.
How can PIM help?
PIM securely archives old data and ensures that only the most current product information is shared, preserving your product history and avoiding costly errors.
5. Product Information Security Challenge
Spreadsheets provide minimal security, making sensitive product information vulnerable to unauthorized access or accidental sharing.
- Critical pricing or product details can fall into the wrong hands without proper controls, impacting sales and business relationships.
How can PIM help?
PIM systems offer robust security features. They allow you to control who accesses, edits, and shares product information, protecting your business from data breaches.
6. Lack of Product Context Challenge
Spreadsheets isolate data points, making it hard to see the bigger picture or make meaningful connections between product information.
- Comparing variations of similar products often requires sifting through multiple tabs and cells, slowing down decision-making.
How can PIM help?
PIM provides an intuitive, organized view of all product data, making it easier to analyze and optimize product information for better business outcomes.
Final Words
Spreadsheets, despite their versatility, come with a host of challenges—data entry errors, document duplication, and security risks, among others—that can undermine productivity and accuracy. They fall short in addressing the complex needs of modern fashion businesses. PIM offers a transformative alternative by centralizing and streamlining product data management.
Adopting a PIM system can be a game-changer in a sector where spreadsheets have been the default. It not only addresses spreadsheets’ inherent limitations but also offers a streamlined, efficient approach to managing product information.
Start your journey with us; contact PIMLAND to enhance your operations!
