What I Learned in Supply Chain This Week

Insight – Thinking Ahead: The Fashion Prescription

Image
Insights: What I Learned In Supply Chain This Week Series
Thinking Ahead: The Fashion Prescription
Tags: Fashion, Retail, First Mile, Global Supply Chain, Import, Supply Chain, Technology
Dallas-based startup empowers businesses to optimize international trade.
“Unless we can control the supply chain, we are always going to be a victim”
– Gary Wassner

Retail is expected to lose $2.1T in sales, and fashion expected to decline by 25%. Nieman Marcus & J Crew both filed for bankruptcy this week.

Many fashion brands take a year or more to plan, buy, and move their products. Forecasting this far in advance is highly unreliable, and can lead to disastrous outcomes. How can it be fixed?

A NEW STYLE. Public Habit created a 'demand chain' (see graphic), leveraging a perfect forecast, and saving months. Gather a cross functional team to ask, “what would we draw if we had a clean sheet of paper?”

TECHNOLOGY. Product planning & design, sourcing, purchasing & production, & logistics are complex functions, which require modern tools & platforms.

ORCHESTRATION. The fashion supply chain plays many different songs, notes, & instruments - which necessitate sheet music & a conductor.

NEAR & TIER SOURCING. Supply must match the pace of demand. A strategic sourcing plan should include a balance of suppliers and origins linked to overall corporate objectives (beyond just price).
Image
ABOUT THE SERIES

Each week, Mercado CEO Rob Garrison pens his latest learnings from the supply chain industry as part of a series run for his LinkedIn followers. Each article aims to share a little insight into what's going on that week and to help foster discussion amongst industry professionals across levels, geographies, and companies.

You can connect with Rob on Linkedin by following this link.
GT Nexus founder and supply chain industry veteran, John Urban, has joined the Mercado board of directors.
“Unless we can control the supply chain, we are always going to be a victim”
– Gary Wassner

Retail is expected to lose $2.1T in sales, and fashion expected to decline by 25%. Nieman Marcus & J Crew both filed for bankruptcy this week.

Many fashion brands take a year or more to plan, buy, and move their products. Forecasting this far in advance is highly unreliable, and can lead to disastrous outcomes. How can it be fixed?

A NEW STYLE. Public Habit created a 'demand chain' (see graphic), leveraging a perfect forecast, and saving months. Gather a cross functional team to ask, “what would we draw if we had a clean sheet of paper?”

TECHNOLOGY. Product planning & design, sourcing, purchasing & production, & logistics are complex functions, which require modern tools & platforms.

ORCHESTRATION. The fashion supply chain plays many different songs, notes, & instruments - which necessitate sheet music & a conductor.

NEAR & TIER SOURCING. Supply must match the pace of demand. A strategic sourcing plan should include a balance of suppliers and origins linked to overall corporate objectives (beyond just price).
Image
ABOUT THE SERIES

Each week, Mercado CEO Rob Garrison pens his latest learnings from the supply chain industry as part of a series run for his LinkedIn followers. Each article aims to share a little insight into what's going on that week and to help foster discussion amongst industry professionals across levels, geographies, and companies.

You can connect with Rob on Linkedin by following this link.
                       

Terms of Service   |   Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle. Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency
                       

Terms of Service   |   Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle. Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency
                       

Terms of Service   |   Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle. Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency
                       

Terms of Service   |   Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle. Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency