I attended “Indian Fashion Forum 2017” in Mumbai, a platform specifically for Retail, Footwear & Apparel industry. It was a great experience to participate in IFF 2017 and interact with well known industry experts, analysts, CEO’s. This definitely provided me with insights into around the industry and knowledge of how technology is perceived lately by the Industry. One such session in the event was about Customer experience – How private label, store brands & retailers are be able to provide a great experience to their Customers by leveraging new technology.
We live in a world, where technology surrounds us in every aspect of our lives. Gone are the days where the internet is confined to a computer or a phone. Everyday devices are accessing the internet to communicate with the rest of the world. Day to day objects like vehicles, smart thermostats, health monitoring devices and security systems etc. These devices are fitted with various sensors, actuators and software to collect and transmit realtime data consistently.
Keeping track of inventory, amount of required material, quantity of products at hand and number of shipped products, etc. are of utmost importance for an Apparel and Retail company. At the beginning of every season, brands add SKU (Stock Keeping Unit) to their database for new orders. And every time,new units are made, companies have to update the database to reflect the changes in the products at hand.
In today’s competitive market, manufacturers are facing continuous pressure to reduce costs, enhance productivity and deliver products at a faster pace.The opportunity for an Apparel Manufacturer to save costs by looking at their material costs is highest as Fabric costs account for over 70% of the overall costs the manufacturer bears.Read More
One will be surprised at the mess that many organizations face with this single number. The ubiquitous Item identification numbers or item codes are used to uniquely identify items by an organization that are either carried in an inventory or need any form of tracking. These codes help in speeding up the process of data entry and inventory management and some companies either call them ‘part numbers’, ‘model numbers’, ‘product codes’ or SKU numbers.Well you can call them anything but when done wrongly they create many issues. Any system that cannot uniquely identify an item cannot effectively keep track of its activity within the manufacturing unit.Read More