Supply chains were not always as complex. 25 years ago over 70% of apparel manufacturing happened domestically, today it’s less than 3%. We’re challenged more than most producing high volume low margin products in an incredibly complex supply chain – there isn’t much room for error.
Data is being created at unprecedented levels. Much of this data has high relevance to a retailer or brand owner. Harnessed effectively it can get us closer to our customer and predict their behavior which drives our business. Most organizations though are Data Rich but Insights Poor: VERY few have cracked the code on curating, correlating, and monetizing big data. Those who have or will are going to lead and lead big.
The customer is in control now. When we started, the merchant told us what is hot and what is not. Today, the customer has more power and higher expectations than ever before. They’re telling us not only what they want, but when they want it, & how they want to buy it.
Disruption is the new normal. The ability to react to disruptions effectively & quickly as they happen is now a requirement. The ability to sense and predict disruption and take action beforehand can be game changing.
- A growing importance of sustainability and corporate responsibility increase the need for end-to-end traceability and visibility.
- The emergence of B2C channel and store pickup accelerates do to Covid-19 Pandemic
- Digital transformation is growing in importance due to the need to support eCommerce and more personalized solutions
- The need to condense lead times and reduce mark downs
- Improve agility and resilience