In our previous article, we covered Supply Chain Transformation, the first of three key areas in the fashion industry that have been highlighted by COVID-19 and the ripple effect of the lock down on the fashion supply chain. Though these areas have long been on the industry’s radar, given the devastating impact of the crisis and the immediate need for alternative solutions, they have received tremendous attention in recent weeks.
In this second piece, we will cover innovations that offer solutions in Stock Management.
Part 2: Stock Management
Many fashion retailers deal with overstock issues as a matter of everyday business. As sales decline with many stores having to shut down, vast volumes of unsold and unshipped garments (+40 – 60% deadstock and overstock from the COVID-19 crisis according to a survey by the Global Fashion Agenda) are now a costly resource.
Brands and retailers need solutions that retain the value of their product as long as possible. Here