Based on the article: https://www.cbinsights.com/research/fashion-tech-future-trends/
Description
Today the technology has changed and reshaped the game for every participant in the fashion industry along the supply chain (designers, manufacturers, retailers, stylists, consumers). Furthermore, the fashion sector is one of the world largest industries and is appraised more than $3T by the end of the decade, thus fashion companies are seizing the market opportunity to open more revenue streams and business models by partnering with technology providers, snapping up startups, and even building their own tech.
Therefore let’s navigate through “The future of fashion” to identify the key original inefficiencies companies used to have within the traditional fashion supply chain, then establish the part or parts of the fashion supply chain that these inefficiencies touch the most – (a) Design ? (b) Raw Materials ? (c) Manufacturing ? (d) Logistics (inventories, distribution) ? (e) Sales and Marketing .
Please, allow me to share some examples
- A. Size inaccuracy -> Returned garments
Return rates: Approx. 30% of fashion bought online is returned, one of the main causes sizing. It applies mainly to Sales part “Fashion recommendations in the perfect fit, every time”.
B. Stock availability and lack of garment tracking
Lack of transparency about inventories information trigger a slow fashion industry. It applies to Inbound Logisticspart “Tech makes inventory in the fashion industry more transparent and traceable”
Try to allocate each inefficiency in the traditional supply value chain, moreover, feel free to share other brands examples or inefficiences differents from the article.
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