By employing an inverse-scattering transformation, the exact solution of an N-soliton train in the spin chain with a time-dependent magnetic field is derived. As a special case the one-soliton solution (N = 1) exhibits explicitly the spin precession around the magnetic field and periodic shape-variation induced by the time varying field as well. In terms of the general solution, inelastic two-soliton collision is analysed. The inelastic collision, by which we mean the soliton shape-change before and after collision, appears generally due to the time varying field.