The fashion industry has been impacted significantly by disruptions in the supply chain triggered by the COVID-19 pandemic and other changes in consumer behavior. These disruptions have led to difficulty in demand forecasting, delays in production, and tonnes of unsold inventory that ends up as waste in landfills.
Both buyers & suppliers alike have struggled to cope with these changes, while companies like Fashinza have capitalized on the opportunity to provide technology-enabled solutions for an agile supply chain. Here’s a rundown on some of the macro trends shaping the apparel industry & how Fashinza’s offerings are tailored (pun intended) perfectly for these trends:
Advances in automation are changing the way apparel is produced and distributed & the rise of e-commerce in fashion has led to a greater emphasis on digitization. Data Analytics, Robotics, artificial intelligence, 3D printing, Internet of Things (IoT) are increasingly being used to optimize the supply chain & to improve customer experience. Blockchain technology has significantly enhanced traceability, transparency & integration throughout the supply chain.
An AI-based trend forecasting engine, an in-house design team, a comprehensive collection of the latest designs & virtual 3D sampling are just some of the tools in Fashinza’s arsenal to help brands adapt swiftly to evolving market trends. Our technology platform uses advanced algorithms to perfectly match suppliers to the myriad requirements of a brand, all in real-time. And once an order is placed, the platform also provides end-to-end production visibility for brands from the factory floor. For suppliers, the technology platform helps in instant demand generation & includes tools for cost optimization, a line scheduler for effective production planning & an application to record quality defects in garments, among others.
Given the impact of the traditional apparel industry on the environment and labor working conditions, sustainability is becoming increasingly important to consumers and there is a growing need in the apparel value chain to adopt environmentally & socially sustainable practices. This includes reducing waste, using more environmentally friendly materials, and ensuring that labor working conditions are fair and safe.
At Fashinza, we take steps at every stage to diminish our environmental impact. Our partners are encouraged to use sustainable fabrics such as EcoVero, organic cotton & recycled polyester which are produced without the use of harmful chemicals. We strive to reduce the consumption of water and energy along various stages of the product’s life cycle. We only work with manufacturers who hold a reputation for the timely delivery of premium products & follow ethical practices such as healthy working conditions & fair wages for workers. Because, as Jochen Zeitz puts it, we believe that ‘Sustainability is no longer about doing less harm. It is about doing more good.’
While there is an increasing consumer consciousness about sustainability, with the growth of e-commerce, there is also a rise in fast fashion, with designs moving rapidly from fashion shows to market & consumers wanting to buy the latest trending designs. The traditional model of pre-producing large quantities of clothing is getting disrupted due to long lead times & unsold inventory. Instead, there is a shift towards on-demand production which allows retailers to only produce items as they are ordered, helping to reduce waste and increase efficiency.
Fashinza, with a network of world-class manufacturers & an agile supply chain that includes global shipping, is equipped to execute orders with order quantities of as few as 200 units per style & turn them around in as little as 45 days. The fact that our capability spans 50+ categories is just the icing on the cake.
With the uncertainty of global events, it has become necessary for apparel supply chains to be flexible and resilient. This includes investing in new technologies, diversifying sourcing strategies, and strengthening logistics to respond quickly to disruptions. While individual brands or suppliers may not be equipped to build such extensive capabilities, a player like Fashinza that is already equipped with the right tools & processes to cater to these evolving trends may just be the right partner for both buyers & suppliers.