The future is here, and the present is not that easy. The fashion world has become a problematic industry to monitor. Its global, as well as the regional market, are both evolving and hypercompetitive, that is why the brands, manufacturers, management companies like Modeling Grand Rapids agency, and retailers are forced to make fast decisions to remain relevant in the industry.
Systematization, accountability, and documentation sometimes are afterthoughts as manufacturers and brands rush to provide fashion collections from one season to another. While India and China’s domestic markets are starting to become increasingly dominant, the offshoring pattern still stands.
Today, despite an expanding trend towards proximity sourcing, some products are being manufactured in places where they are developed. According to Smyrna president, Jason Adams, factors like language barriers, sheer geographical distance, and time zone differences still limits the communication between factories where the products are made and the office where the orders are made.
For Jason Adams, a lot is happening in the fashion world, but in a way, it is too informal, too fast, and too far removed from the company’s headquarters to be recognizable in the conventional sense to the average eye. But as the overseas office, supply chain partners, and brand audiences grow further apart physically, and ironically, they have never been that close digitally.
Soon, a lot of products will be digitally made, designed, as well as transferred to other departments for further technical development. From there, the product will be assembled, digitally worked with supply chain partners, or in modern supply chains, made by an industrial line that received instructions from humans. The products will now be sent electronically, tracked, marketed, and distributed to online consumers.
Today’s fashion is starting to become a predominantly digital business, one where significant volume of digital collaboration, data, digital marketing, e-commerce, and digital social interaction come together to build and sell physical products to a digitally aware demographics.
As important as the final product, the future of the fashion industry will place a sign on the vital part of its life that is spent on the domain. While the shift in the production process seems like easy and small change in the way the product brands and the retailers do their business, this is just the beginning.
When together, the four pillars of digitization, the IoT or Internet of Things, the AI or artificial intelligence, the big data, and the platform economy, promises the most intense change the fashion industry has to undergo since the beginning of mass production or large-scale manufacturing.
Millennials and Gen Z
It is said that the digitization of supply chains helps companies to make significant productivity and of course profits with the help of improved production speed and organization. Because of this practice, it enables the company to achieve efficiency and meet consumer expectations and enhancing business processes in other aspects.
Today’s target market, the famous Gen Z and Millennials, whose requirements and buying behavior have left conventional retailers excited, expects more transparency. Although the price is still a significant factor in consumer’s purchasing decisions, the diligent consumers pay the same attention to product source.
Retailers and brands who invested in obtaining this level of awareness will be able to create and publicize the codes of conduct for sustainability and social compliance, are confident that there are no blind spots in the development, design, and its manufacturing processes.
While macro and micro trends differ from one target market to another, more profound shifts in the competitive world as well as in the consumer expectations, caused by the digitization will require retailers, sooner than later, manufacturers and brands will embrace the idea of fashion as an online domain. But the question is, what will it mean in practice?
Hardware Management, Best Practices
There are two crucial key elements when we are talking about ensuring the success of the digitization process, best practices in hardware and software management. The best software practices are made by analyzing and collecting significant volumes of data to provide open channels of communication, actionable intelligence, and collaboration between different teams, optimizing, coordinating, and automating existing and new processes throughout the life cycle.
At this level of solutions, it might mean that integrating the flow of data between PLM or product lifecycle management, supply chain management, as well as ERP or enterprise resource planning systems. You need to analyze this flow of information to get a firm idea in this business. Visit this link to have a more thorough explanation on ERP or enterprise resource planning system and how it can help businesses.
For example, a major consumer goods business in Asia recently started to perform a thorough analysis on their growing pool of data covering both operations and customers, which powers the dynamic trend-forecasting model that has a measurable influence …