The fashion industry is undergoing a rapid transformation, with many brands and retailers scrambling to catch up. Fast fashion has taken off and - equipped with new technologies - consumers are more demanding than ever, making the omni-channel experience an imperative.
Every element of fashion industry – from manufacturing to supply, marketing, wholesales and retail – are geared towards overtaking today’s highspeed consumers, or, at least getting into their slipstream. Up close is the only place to be. From here, retailers can adjust to shoppers’ pace, read their signs and respond accordingly, and be pulled along by their energy.
Leveraging the game changing power of SAP's Fashion centric solutions as well as other digital platforms, we are helping global fashion companies lead the way in the transformation to deliver a solution that helps fashion businesses with multiple sales channels to act as one – combining wholesale, retail and manufacturing businesses.
Typical Key Challenges of Fashion Industry:
Nowadays, fashion is much more than buying useful clothes, apparel options available across thousands of brands, it becomes hard to forecast customers’ preferences, and the demand to make more styles available more often to capture current fashion trends and local assortments.
Inability to respond to customer demands for flexibility and responsiveness because data scattered across systems hinders identification of actionable insights to serve and sell to customers using different channels such as wholesale, retail, and digital as well as various customer-facing technologies
Currently, operations in a vertical fashion company are supported by disparate systems from the Manufacturing, Wholesale, Retail Process and it is very difficult to ascertain a single version of the truth when no single system has all the required data to present the answers executives request; and, combining the data often takes so long that the information produced is outdated before it is available
Operation of separate systems for retail, wholesale and manufacturing tends to restrict combined inventory visibility, which results in supply imbalances such as high out-of-stocks in one channel and excess inventory in another. It is therefore crucial that companies manage inventories to ensure the right stock is available at the right place and at the right time.