PSF 2017 – Navigating the perfect storm in fashion sourcing
Global political frictions and economic uncertainty, investment in automation and efficiencies, digitalisation, data and skills shortages are among the challenges facing today’s apparel sourcing executives.
Global political frictions and economic uncertainty, coupled with a sea-change across the retail sector thanks to the rise of e-commerce, digitally-connected consumers, 'see now, buy now' expectations, fickle millennials, store closures and competition from online specialists, are all creating a perfect storm for apparel sourcing executives to try to navigate.
The apparel industry and its supply chain needs to start thinking differently if it is to deliver on demands for speed, customisation and transparency – with the biggest impact set to come from digitalisation of products and processes and analysis of the resulting data.
Economic uncertainty and upheaval in global trade agreements are immaterial if the apparel and footwear industry can't respond, engineer and produce products that consumers want to buy. Investment in automation and efficiencies, as well as facing up to skills shortages, are among the unlocks for the future fashion sourcing landscape.
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