CARGOCONNECT-MAY23 - Flipbook - Page 31
share information on suppliers
and manufacturing practices.
By deploying technology, textile and apparel companies
can manage and control the
flow of demand and supply
at every node of the supply
chain
Intelligent demand forecasting
and planning activities, enabled
by technology, can be a gamechanger for the textile and apparel
industry, especially during a time
when the industry and its vendors
are facing unprecedented challenges. Here are some key ways:
Many companies have
realised the importance of
digitalising their end-to-end
processes to ensure business
continuity and resilience
In the wake of the pandemic,
many companies have realised
the importance of digitalising
their end-to-end processes to
ensure business continuity and
resilience. This digital transformation has enabled companies to
have greater visibility and control
over their supply chain, which is
crucial for effective planning and
management.
Supply chain management
deals with not only supply from
manufacturers, but also demand
from consumers filtered through
various agencies. To more than
efficiently operate in a volatile
environment that we see today,
organisations need to effectively
manage the entire supply chain
keeping both optimisation of inventory levels and fast responsiveness
to market demand in mind.
In summary, to embrace
superior serviceability and to
shape up an appropriate supply
chain with the right infrastructure in place, companies need to
leverage more new and novel
technology, to put in place a more
flexible and agile infrastructure,
all the while building strong
partnerships and collaborating
with stakeholders.
When channels are managed
effectively, companies can
improve efficiency of the
supply chain and reduce
costs associated with excess
inventory or lost sales due
to stock outs
Better channel management can
translate into better business
performance for the supply chain.
When channels are managed
effectively, companies can ensure
that products are delivered to
the right place at the right time,
reducing the risk of overstocking
or understocking. This helps to
improve efficiency of the supply
chain and reduce costs associated
with excess inventory or lost sales
due to stock outs.
Effective channel management also improves customer
satisfaction by ensuring that
products are available when and
where customers want them. This
helps to build customer loyalty
and increase sales.
In my opinion, the industry in
taking advantage of modern-day
logistics management capabilities
is optimistic. Companies recognise the potential benefits of
advanced technologies and are
investing in them to improve their
supply chain and distribution
operations and gain a leading
edge in the market.
We are focussing on building strong partnerships
and collaborations with
suppliers, customers, and
logistics providers through
API Integration
The uniqueness of Fashinza’s supply chain model lies in its ability
to quickly respond to changes
in market demand and product
portfolios. And, this uniqueness is
an outcome of the below factors:
We have developed an agile
supply chain model that allows
us to quickly respond to changes
in market demand and customer
preferences. The supply chain
is designed to be flexible and
adaptable, allowing us to quickly
reconfigure operations and processes in response to changes
in demand.
Collaboration is a key element
of our supply chain model. We as a
company work closely with suppliers, manufacturers, and retailers to
ensure that products are delivered
to the right place at the right time.
This helps to improve efficiency
levels as well as reduce lead times.
We are using tools for real-time
tracking and predictive analytics to
improve logistics and distribution
operations.
Technology plays a critical
role in our supply chain model.
As a tech-savvy company, we use
advanced technology platforms
which are developed in-house,
and those have proved fundamental in optimising our supply
chain operations and improving
supply chain visibility.
At present, we are focussing
on building strong partnerships
and collaborations with suppliers,
customers, and logistics providers
through API Integration. This
helps to ensure a more integrated
and collaborative approach to
supply chain management that
ultimately leads to improved
serviceability and customer
satisfaction.
CARGOCONNECT MAY 2023 | 31
Interviewed by UPAMANYU BORAH
Supply chain
management deals with
not only supply from
manufacturers, but also
demand from consumers
filtered through various
agencies. To more than
efficiently operate in a
volatile environment that
we see today,
organisations need to
effectively manage the
entire supply chain
keeping both
optimisation of inventory
levels and fast
responsiveness to
market demand in mind.
In summary, to embrace
superior serviceability
and to shape up an
appropriate supply chain
with the right
infrastructure in place,
companies need to
leverage more new and
novel technology, to put
in place a more flexible
and agile infrastructure,
all the while building
strong partnerships and
collaborating with
stakeholders.
Accurate forecasting: Intelligent demand forecasting uses
historical data, machine learning,
and predictive analytics to generate accurate forecasts of demand.
This helps companies to plan their
production and inventory levels
more accurately, reducing the risk
of overstocking or understocking.
Real-time visibility: Realtime visibility into inventory
levels, production schedules, and
logistics enables companies to
respond quickly to changes in
demand or supply. This helps
to avoid stockouts and reduce
lead times, improving customer
satisfaction.
Scenario planning: Scenario
planning involves simulating
different scenarios to understand
the impact of changes in demand
or supply on the supply chain.
This helps companies to plan
for contingencies and respond
quickly to unexpected changes.
Collaborative planning:
Collaborative planning involves
sharing data and insights across
the supply chain to optimise
operations and reduce costs. By
collaborating with suppliers,
manufacturers, and distributors,
companies can streamline their
supply chain and improve the
efficiency of their operations.
Automation: Automation of
demand forecasting and planning activities can help to reduce
errors and improve efficiency.
This includes automating repetitive tasks such as data entry and
analysis, freeing up employees
to focus on more strategic tasks.
By broadly deploying technology, textile and apparel companies can manage and control the
flow of demand and supply at
every node of the supply chain,
navigate the challenges of the
industry in the long haul and
establish a competitive edge in
the market.