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Four Sourcing Strategies to Prepare for in 2018

It’s the beginning of a new year, which means it’s time for brands and retailers to evaluate industry landscape and set themselves up for sourcing success. 2018 is looking to be a good year for the apparel market, with innovative technology creating new opportunities. However, retailers must remain competitive to stay ahead of the game. In 2018, we’re predicting four key sourcing strategies apparel retailers and brands should watch out for.

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‘Tis the Season for Apparel Retailers and Brands

It’s the most wonderful, and busiest, time of the year for retailers and brands! Shoppers are looking for last-minute gifts and stocking stuffers, and retailers are looking forward to successful year-end results. This holiday season, we’re seeing a few key trends emerge for apparel retailers and brands.

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Create a Culture of Change to Embrace Demand-Driven Manufacturing

Fast-fashion brands are working to bring new trends to market with as little lead time as possible. To do so, brands and retailers must have the processes in place to read what’s happening in the market and react accordingly. However, people are often resistant to change, and many companies don’t have a corporate culture that embraces and fosters change. Without a mindset to embrace change, brands and retailers will not be able to adjust to meet new demands and read and react to the shifting market. Company culture must be transformed to drive an on-demand manufacturing model that will get products into consumers’ hands when they want it.

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Ensuring Quality on the Factory Floor: 9 Questions Every Retailer Should Ask

The factory floor is the most critical place for ensuring quality control. It’s the place where you can detect and correct problems before garments are finished and shipped, saving both money and time. To make sure that the factory is doing a good job at maintaining internal quality, retailers and brands are making it a priority to set up certified factory auditor programs to establish and enforce the best quality practices.

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Partner With Your Vendor Using a Comprehensive Scorecard

One of the top sourcing priorities for brands and retailers today is making it a priority to onboard their vendors quickly and build strong vendor relationships based on transparency, trust and high-performance. Vendor report cards are a cornerstone of a vendor compliance strategy by ensuring that a good relationship is formed and that vendors adhere to retailers’ standards and codes of conduct.

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Three Tips for Effective Vendor Onboarding

Every vendor should be closely managed from the onset of the relationship, beginning with the vendor onboarding process. If expectations and procedures are established before any work commences, brands and retailers can avoid many issues. Ensuring your vendors are properly onboarded is an investment in your future, as well as the forthcoming stability of your vendor.

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Say RIP to Your Supply Chain Nightmares

Trick or treat? It’s all tricks and no treats for retailers and apparel brands when it comes to supply chain nightmares. Luckily, by enabling the Digital Supply Chain, retailers and brands can avoid these frightening situations that lead to chargebacks, markdowns, delayed shipments and siloed business units. Six Elements to Avoid Supply Chain Nightmares In today’s Digital Supply Chain, retailers and brands should incorporate six elements to help avoid these supply chain nightmares.

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8 Ways Supply Chain Systems Can Minimize Markdowns, Closeouts and Lost Sales

Retailers and brands must understand and react to consumer trends and real-time sales information and quickly make the necessary adjustments. This is something that can only be done with modern supply chain systems such as NGC’s Andromeda, which brings together all departments – Merchandising, Product Development, Sourcing, Compliance, Purchasing, Production, Quality, Logistics, Marketing and Sales – in a cloud-based solution that connects vendors, suppliers and other providers, enabling the Digital Supply Chain.

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Become a Read and React Company and Accelerate Your Digital Supply Chain

While some traditional fashion retailers and department stores are struggling, others are experiencing strong growth as they rewrite the rules of fashion retailing. The key to success? Mastering the “read and react” supply chain strategy. Data-driven fashion companies, like Zara, continuously monitor or “read” sales data in order to “react” faster than any company in the industry – accelerating delivery of the products that are selling and shutting down production of any products that are stalling. The fashion industry has taken note, and companies are racing to transform their businesses with read and react strategies.

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Q&A with WhichPLM: Transforming the Fashion Industry

Recently, NGC’s Mark Burstein sat down with WhichPLM to discuss the need for retailers and fashion brands to transform their business. In the Q&A, Burstein highlights why the old model of PLM is no longer effective and how, in order to be successful, companies must integrate data from all corporate departments and third-party providers of goods and services into one source of information, from merchandise planning through sale to the final consumer.

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