With outsourcing and low-cost labor still heavily prevalent in the fashion industry, there has not been much need to improve operations over the last few decades. However, recent years have shown us that consumer power outweighs everything. Consumers are demanding more sustainable practices, safer working conditions and higher wages for workers, and are shopping online more than ever before. To stay with the times, companies need to focus on speed and sustainability. But how can these two happen harmoniously without negatively affecting profit? The answer: Digitalize supply chain operations. It is unlikely brands that continue to overproduce and use outdated supply chain practices will come out ahead in this modern, ever-changing industry.
While some argue the growing pains are not worth the trouble, adaptation and innovation are the only ways to increase profits in the coming years. Consumer demand continues to increase, primarily via e commerce platforms such as company websites and social media channels. The pressure is mounting for companies to provide personalized experiences in store and online while reducing their carbon footprint. Companies need high-tech solutions to reduce overproduction while retaining a good customer experience and high speed to market. From 3D printing to PLM, there are many solutions that can be integrated into the supply chain and reduce a company’s carbon footprint while simultaneously helping their bottom line. Investing in supply chain software now will mean lower costs in the future, a guaranteed ROI.
With many industry costs increasing due to the Covid-19 pandemic, one thing businesses are doing to reduce costs is drop shipping. This allows companies to buy and sell goods with lower inventory management, warehousing and delivery costs. As soon as a sale is made, the order is relayed to the drop-shipper who proceeds with shipping. Drop shipping companies like Shopify use advanced technology to be the link between a company’s wholesaler and its customers. These service providers can also connect to a company’s existing ERP, providing the company with accurate, timely data and building a more digital supply chain. Exenta ERP seamlessly integrates with various drop-shipping providers to deliver real-time data and build sustainable success for our customers.
Tech plug-in extensions (AI)
Cloud-based software solutions like PLMs have begun offering plug-in extensions, such as Adobe Illustrator, allowing designers the ability to sync different design assets without having to transfer and upload large files or re-input data. A cloud-based PLM streamlines and automates the design process, providing one advanced platform for collaboration and data sharing. With Exenta PLM REVO and the Adobe Illustrator Design Plug-In, designers across a company can operate more sustainably and effectively while simultaneously improving communication with manufacturers. The platform provides an intuitive software solution that manages product development in real-time, helping companies adapt quickly to potential fit changes or problems that arise with manufacturing.
Virtual and augmented reality
Another emerging technological solution that is growing in popularity is virtual and augmented reality (VR). As online shopping surges, companies are struggling to keep up with increasing demand while upholding their bottom lines. With VR and AR technology, customers can virtually try on pieces and then order them in-store, providing a more personalized shopping experience while reducing inventory. VR revolutionizes the retail shopping experience, with companies providing platforms that serve 3D, 360 degree virtual try-on experiences online or in-store. Many think the future of retail involves companies utilizing VR in-store and online. Integrating this technology with a strong ERP system like Exenta ERP and on-demand manufacturing can mitigate overhead and inventory costs, reduce returns and increase speed of delivery to the customer. With this digitalized system, companies reduce production waste and increase their overall sustainability.
Technology is a key driver of sustainable fashion. “Around 12.8M tons of clothing is sent to landfills annually. The fashion industry is responsible for up to 10% of global CO2 emissions, 20% of the world’s industrial wastewater, 24% of insecticides, and 11% of pesticides used.” Shoppers are looking for more sustainable companies, but aren’t willing to sacrifice their desire for quick order fulfillment. While some companies are slowing the process down and moving away from the micro-season trend (dozens of seasons a year rather than the traditional 4) other companies do not have this option. Depending on buyer demographics, a brand may face the expectation of delivering a consistent product to market at rapid speed. When faced with that challenge, organizations leverage advanced software solutions to create a digital supply chain, including: an ERP, PLM, EDI and/or Shopfloor Control. These solutions can reduce waste, increase efficiency, improve visibility, and reduce inventory costs all while increasing profits.
Customers are demanding more convenience and faster time to market. The solution is simple: Digitalize your supply chain operations with Exenta’s state-of-the-art software solutions. Exenta provides the ultimate network of advanced software solutions that can transform your supply chain. Uphold your speed to market, retain your bottom line and reduce your carbon footprint with Exenta’s transformative solutions. Request a demo today and see what the future holds for your company.