Looking Ahead: Predictions for the 2020 Supply ChainJanuary 23, 2020
In 2019, NGC experienced rapid growth, largely due to an increased demand for digital supply chain solutions from top-tier retailers. The growth aligned with last year’s industry-wide focus on the digital supply chain, which is essential for improving speed to market and profitability. Of course, this came at a time when fashion brands were looking to overcome barriers like complexity of the concept-to-customer process, disparate information sources and too much lag time in decision making.
What was the solution to these challenges? To continually analyze situational data, determine optimal outcomes and automatically execute transactions. Today, as we launch into a new decade, companies across the globe will continue to implement agile supply chain solutions, enabling them to react quickly to the ever-changing demands from consumers.
We’ve already seen how a digital supply chain affects every touch point of a business, from product development to production. NGC’s president, Mark Burstein, sees even more changes ahead for 2020.
A Giant Leap in Productivity With Industry 4.0
If one thing is for certain in 2020, it’s that the pace of change will continue to accelerate. To keep up, Burstein says, “It is essential for retailers to implement new digital solutions that will allow them to sense and respond quickly to demand signals and deliver the capabilities they need to thrive in the future.”
Given the conditions the industry is facing, Burstein and other experts predict the fashion industry will embrace Industry 4.0 in 2020. Otherwise known as the “fourth industrial revolution,” autonomous, connected solutions characterize Industry 4.0. By moving from disparate systems to a single, connected platform with access to all supply chain information, Industry 4.0 will help deliver on retailers’ top priority—speed.
In creating a more rapid production process, brands will be able to provide on-demand manufacturing that customers expect. The push for Industry 4.0 is also expected to result in increased personalization and customization. Additionally, it will boost transparency initiatives by enabling retailers to provide more information about each product, easing ethical and environmental concerns.
All Bets Are on AI
Artificial Intelligence (AI), machine learning, augmented reality (AR) and virtual reality (VR) technologies and digital transformation, all of which sustain Industry 4.0, will see increased interest in the coming year.
In order to survive and thrive, companies need to sense demand signals and respond quickly, helping to ensure a better balance of supply and demand. AI will play a growing role in this. Unlike the analog, linear supply chain, a supply chain that leverages AI and machine learning will not only augment and automate current processes, but will also help retailers uncover insights on consumer patterns that will drive forecasts and future product designs.
How Andromeda Can Support Your Success in 2020
2020 will be a year of speed: managing inventory with real-time information, reducing risk and improving collaboration across global networks. In light of Industry 4.0 and an increased dependence on technological advances such as AI, retailers should implement a digital solution that capitalizes on solving today’s challenges.
From leading fashion designer Joseph Ribkoff selecting NGC’s Andromeda Platform® to Nicole Miller upgrading to our Andromeda PLM®, NGC continued to power the supply chain for many Tier 1 customers in 2019, and we expect 2020 will bring even more customer relationships and upgrades. To keep up with consumers’ evolving needs in 2020, NGC will continue to enhance the Andromeda Cloud Platform.
Ready to get started on attaining supply chain success in 2020? Schedule a demo to learn how the Andromeda Cloud Platform brings together all departments into a single cloud-based solution that connects vendors, suppliers and other providers.