How to implement a competitive fashion value chain?
Updated: Jun 25, 2019
Fashion reflects the aesthetic, economic, political, cultural, and social aspects of life. Individuals often use their style to communicate their preferences and identity. They may be influenced by the weather, social movement, or just by pop stars (celebrities) and other VIPs. So many people and so many different looks.
That’s why the nature of fashion has been always characterized by variety, complexity and energy. It might seem that there are differences between the expensive designer fashion shown on the catwalks of Milan or New York and the “ordinary” everyday styles sold in malls and stores.
But from the most expensive haute couture to fast fashion clothing, businesses in fashion industry need to implement efficient business processes across the value chain to manage time, costs and efficiency as a competitive weapon.
Getting the right collections to the right place at the right time is a detailed and complex process, but performing quickly and effectively can lead to great benefits, both in time and costs saved.
How do you build an efficient and effective value chain?
In many cases, fashion companies are using a number of different systems to manage their business. In some cases, this includes various stand-alone systems but often, the most popular solution is management by spreadsheet. The biggest challenge however is that there is little to no integration between the systems making it very challenging to get a holistic and accurate view across all the different processes.
An ERP (Enterprise Resource Planning) system provides the functionality to bring all the various processes together into a single software solution that will naturally generate efficiency, increase productivity and highlight the areas in which the overall management could be improved. But the fashion sector has very unique and complex requirements which are often not met with a generic ERP system, or to do so, would require expensive modifications and customizations. A fashion ERP system, provides functionality tailored to the fashion-specific tasks and process across the entire value chain.
It today’s competitive environment, optimizing the business should be a priority for any fashion company. By implementing a fashion ERP system, companies can be successful and stay successful as they satisfy the ever-changing consumer and their desire to ride out the next trend.