Saying that apparel supply chains have undergone significant stress in recent years would be quite an understatement, first with a trade war that pressured prices and then a global pandemic that throttled supply at the start and demand soon after. As supply chain managers discover the vulnerabilities within their operations, more are opting to diversify sourcing and bring their manufacturing capabilities closer to home.
A Sourcing Journal webinar on Feb. 17, sponsored by Oracle NetSuite, examines the inherent challenges in nearshoring and onshoring supply chain operations, such as understanding the shifting margins and costs of goods sold when making the move, as well as fulfilling larger orders. But the panel also highlighted the significant benefits to folding nearshoring into sourcing models, namely in reducing inventory holding costs and safety stock, and ultimately getting the trendiest merchandise in front of the right consumers.
For fashion brands, moving ahead with nearshoring means having the right technology in place that provides a single cohesive view of their operation. This includes product information, purchase orders and customer orders, and an accurate view of inventory—not just finished goods, but the components and raw materials on the shelf in the factories as well.
Watch this webinar to learn more about:
- The main overarching goals of nearshoring
- The common misconceptions of costs associated with local vs. overseas production
- Which categories are better manufactured locally vs. globally
- The technology gap between factories in Asia and the U.S.
- The platforms fashion firms must leverage to make up for back-end gaps
- Overcoming talent and capacity deficiencies to establish nearshoring
- How companies have been successfully employing this strategy for years
- Craig Harris, Industry Principal for the Apparel, Footwear and Accessories Group, NetSuite
- Marianne Webber, CEO & Director of Product Development & Production, Quick Turn Clothing
- Ari Jogiel, Founder & CEO, Ari Jogiel
- Edward Hertzman, President, Sourcing Journal (moderator)