CARGOCONNECT-MAY23 - Flipbook - Page 38
COVERSTORY
APPAREL SUPPLY CHAIN
BALKRISHAN SHARMA
JOINT PRESIDENT AND BUSINESS
HEAD– SPINNING
GINNI
FILAMENTS
CULTIVATING
A CULTURE OF
INNOVATION AND
CONTINUOUS
LEARNING WILL
HELP IN STAYING
AHEAD OF THE
COMPETITION
T
o establish a
commanding
presence in the
mu lt ifaceted
Indian apparel
market, businesses need
a comprehensive approach
In my view, to establish a commanding presence in the multifaceted Indian apparel market,
businesses need a comprehensive
approach. Mastering demand
anticipation with analytics
and data-driven techniques
may prove more than helpful
to understand consumer needs
and preferences. Building strong
and lasting relationships with
suppliers and embracing agile
manufacturing techniques has its
own importance as it enhances
supply chain flexibility and efficiency. The need for optimising
inventory management with
just-in-time (JIT) practices and
real-time monitoring is also
beneficial as it reduces costs
and avoids stockouts. Any step
38 | CARGOCONNECT MAY 2023
towards creating a seamless shopping experience across various
channels and tailoring strategies
to local tastes shall also improve
customer satisfaction. Last but
not the least, cultivating a culture
of innovation and continuous
learning by monitoring key
performance indicators (KPIs)
and stakeholder involvement to
collect insights, pinpoint opportunities for improvement, and
establish long-lasting relationships will help in staying ahead
of the competition and lead to
enhanced adaptability, resilience,
and overall business success.
Leadership backing and
dedication remains most
important in realising a
comprehensive strategy to
drive sustainable and agile
supply chain practices
In today's rapidly evolving market,
there are several pressing issues
which are shaping the textile and
apparel industry. The accelerated
pace of fashion trends and evolving
consumer preferences necessitate
companies to stay nimble and
responsive to market needs. The
swift expansion of online shopping
and rapid technological progress is
calling for businesses to adapt and
cater to ever-changing consumer
demands.
Today, global supply chains
are in constant threat of potential
disruptions due to natural disasters, trade barriers, and geopolitical tensions, so companies must
ensure they have well-developed
backup plans and are able to
diversify their supply chains to
minimise risks and reduce reliance
on a single source.
The need for utilising
traceability solutions to ensure
accountability and openness is
also increasing. Therefore, businesses have to think of depending on their company's size and
resources, vertical integration or
forging of tactical partnerships to
gain better control over the supply
chain and streamline costs.
Leadership backing and dedication remains most important
in realising a comprehensive
strategy to drive sustainable
and agile supply chain practices
besides collaboration among
departments of design, procure-
ment, production, and logistics
to create a smooth and efficient
supply chain.
Technological orchestra is
offering invaluable insights
into inventory levels,
improving utilisation of
warehouse space, vehicle
fleet, thereby creating more
accurate demand forecasts
and execution
There is no doubt that a transformative wave of innovation is
sweeping across the industry.
Firms are now navigating the
digital skies, transitioning from
traditional on-premises data
storage to versatile cloud-based
solutions which are enabling
swift access, boundless scalability,
and fortified data security. This
is eventually allowing them to
manage and analyse copious
amounts of data with finesse,
leading to better decision-making
and operational efficiencies. IoT
devices and sensors are enabling
real-time monitoring and tracking of assets, leading to superior
planning and execution. Robotics
and automation is being integrated into production and warehousing operations, leading to
elevated efficiency, reduced labour
costs, and increased productivity.