COVID-19 has called further attention to the need for a supply chain makeover. As stores and factories begin to reopen, it is clear that the industry cannot simply go back to business as usual with bulk orders made months in advance.
During Sourcing Journal’s webinar on April 29, speakers explained why the traditional low cost, long-lead model of production is going to be less effective at navigating the uncertain retail climate in the wake of the coronavirus. Flexibility and speed are going to be even more important to get the right product to the right customer while minimizing risk.
Similarly to how Toyota embraced just-in-time manufacturing after World War II as a financial necessity, this global health crisis and demand slowdown may prove to be the push that fashion needs to overhaul its business model. But it will take buy-in from across the supply chain to drive widespread change.
Watch this webinar to learn:
- Why small batch production can help brands better navigate disruption
- The challenges and opportunities in adopting a just-in-time or on-demand production model
- How companies can create more collaborative relationships with their suppliers
- What KPIs fashion firms should be looking at instead of initial markup
- What brands can take away from China’s post-lockdown consumer behavior
- The potential for made-to-measure and true customization
- Frederic Gaillard, vice president product marketing-manufacturing, Lectra
- Stanley Szeto, executive chairman, Lever Style
- John Thorbeck, chairman, Chainge Capital
- Edward Hertzman, president, Sourcing Journal (moderator)