The Textile industry was heavily redefined with the economical recession in 2007. Instead of accepting a decline in growth, the textile industry stepped up and revolutionized the concept of product launches. Instead of having one or two product launches a year, the industry experimented by introducing more and more product launches to keep generating consumer traffic in the store and hence boosting the sale. Through advanced data driven behavioral consumer studies, the industry are in some cases up to a staggering 52 product launches a year. Of course putting an enormous stress on life cycle management and emptying and refilling stock holdings in multiple layers of the supply chain.
Using data effectively to enhance and optimize these processes are extremely important to stay in control and balance the production batch sizes to fulfill forecasted demand of each new product launch.
These “new” trends within the textile industry has recently started to cascade to other industries as well. Seeking to and learning from this industry, may be worthwhile if you are looking to redefine and learn from the best retailers out there.
Let us help you to organize your data and start the journey…