Time Equals Risk in Today’s Fashion Supply ChainSeptember 28, 2018
One of the Rolling Stones’ early hits famously begins, “time is on my side.” Time, however, is most definitely not on the side of retailers and fashion brands today. In fact, time is arguably the biggest risk factor in the supply chain. Today’s retail and fashion winners include Zara, Xcel Brands, TechStyle and others that race the clock to get the best products to customers faster than anyone else. The more time that passes, the greater the risk that fashion trends, consumer demands and other variables will change.
Time isn’t the only risk factor though. The complexity of fashion and retail supply chains, and the speed required in decision making to improve speed to market, adds additional risk, especially when companies are producing more styles while simultaneously striving to reduce cycle times.
Digitization is essential to get products to consumers faster
The problem is, most retailers and brands lack the technology and processes needed to react quickly to constantly changing demand signals. Retail and fashion supply chains today are disconnected, siloed and slow-moving, limiting a company’s ability to have the information needed to quickly make important decisions. Companies must sift through mountains of
emails, reports, and spreadsheets to understand the critical issues that need attention now -- and by then, it’s often too late.
That’s why digitization is essential for reducing supply chain risks by enabling companies to make faster decisions and manage today’s complex retail and fashion supply chains. Digitization reduces supply chain risk by enabling companies to make faster decisions and manage all the complexities of today’s retail and fashion supply chains.
NGC’s Andromeda overcomes organizational silos for faster, connected decisions
NGC’s Andromeda Cloud Platform® is specifically designed to enable the digital supply chain by bringing together all departments into a single cloud-based solution that connects vendors, suppliers and other providers. With Andromeda, companies can react with speed and agility to optimize lead times, reduce expenses, improve quality and maximize company revenue and profit.
Discover more about how digitization can help retailers and brands overcome technology barriers in our latest whitepaper here.