Press Releases

Press Release 11 June 2021

Suppliers need to update to remain preferred in fashion supply chain

The pandemic has disrupted the fashion supply chain like never before. Every aspect of the cycle has been affected and both the front-end (Retail) and back-end (manufacturing) of the chain have faced their share of challenges. Connecting these two ends is the ‘buying and sourcing’ process, which is also witnessing shifts.
The four critical KPIs to attract the buyer in current times are competitive pricing, faster speed-to-market (45 to 60 days), wider assortments instead of deeper numbers and finally, value added services such as 3D technologies for pre-production activities. These emerging trends in buyer needs are driven by changing sourcing requirements that are in turn guided by the macro shifts happening in the market.
In this fast-evolving scenario, the supplier is at the deep end to understand what he has to do to remain a preferred supplier. Retail trends suggest that the four most critical ‘Hows’ to be addressed to be a preferred supplier are:
How to get your product offering right?
Fast fashion culture is returning; with social media influencer success rates, Instagram Reels are blowing up due to several challenges, further leading to the comeback of many pre-Covid loved categories like dress shirts, semi-formal dresses, tops and chinos, which are very much on the buyers’ wishlist now. This means that wovens will return to their former glory as well, although the knits’ demand might not go under as the versatility of the knitted fabric will continue to entice.
How to meet KPIs for Vendor Selection?
This season is seeing a marked pressure on garment prices, as retailers are going for markdowns – high discount for leftover stock and smaller discount on new collections. Buyers are looking at aggressive consolidation and distribution of business and are not keeping it set to one place region-wise. Suppliers that deliver good quality and competitive prices are at top of the mix. Shorter lead times and ability to handle smaller quantities is a definite plus point.
How to align with Brand’s challenges?
Businesses are under immense pressure to become more and more efficient. Markets are becoming dynamic, trends are evolving at a much faster pace, go to market cycles are reduced. In such a scenario, brands are looking for more from the vendors that meet standard requirements. Taking on some of the inventory pressures of brands, adjustable working in terms of delivery phasing, innovation and design partnership are a few such additional propositions. It’s all about partnerships and synergy; the old traditional approach cannot work today.
How to position for future business opportunities?
In the yesteryears, vendors used to clearly position themselves as – Low cost, High Quality or Specialist Vendors but now the supplier has to position himself either as a Flexible Vendor or a Value-Add Vendor. The first step in doing so, is to understand what his brand’s business is and how is the brand looking at his factory. Then the supplier needs to understand where he can position himself to attract the buyer and accordingly deliver.

About Apparel Sourcing Week

Apparel Sourcing Week (ASW) platform is aligned to the changing dynamics of the industry, moving in pace with evolving and shifting world trade of apparel sourcing while also acknowledging the changing needs and wants of the customer.

To facilitate the seamless process of sourcing for greater transparency and reach, the ASW platform offers the industry three independent verticals – Big Show, Marketplace, and V-Expo – to enhance business opportunities for all players in the fashion retail chain, in an environment of networking, knowledge, and inspiration. With the three verticals, the supplier has marketing opportunities all around the year like never before, while the buyer has multiple avenues to search his perfect sourcing partner from South Asia.

About the Organiser

Apparel Resources is well known for its benchmark publications – Apparel Online, StitchWorld and Resource Guide published from India, Bangladesh & Vietnam. These publications have been around in the industry for over 35 years, supporting, guiding and standing by garment exporters and the retail industry globally, providing them a platform to source better.

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