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Lectra & ESCP Europe discuss Industry 4.0 in fashion
28 Feb '18
2 min read
Lectra, a leading provider of integrated technology solutions for fabrics, leather, technical textiles, and composite materials, the French business school ESCP Europe, and their joint ‘Fashion & Technology’ Chair explored the impact of Industry 4.0 on fashion’s value chain during a recent insightful round table discussion at ESCP Europe’s London campus.
For the participants Robert Diamond, founder and CEO, Fernbrook Partners; Dan Hartley, global head of digital commerce, AllSaints; Laëtitia Hugé, vice-president, product marketing, Lectra; Pierre Mercier, senior partner and managing director, Boston Consulting Group; and Evelthon Vassilou, CEO, Alison Hayes, there was consensus. Industry 4.0 represents unparalleled opportunities to take the fashion industry forward.
From brand to manufacturer, panellists from across the value chain emphasised the necessity for the industry to embrace the alliance between man and machines to leverage massive benefits, from quicker decision-making to cost-reduction.
Evelthon Vassilou said, “Interpreting the data of what is, and isn’t, selling should help to speed up decisions. You can react very quickly across the entire supply chain, and either stop producing something unsuccessful or ramp up production if successful. Data and data analytics is not sufficient, to succeed this also requires a high degree of trust and integration between retailers and suppliers.”
Robert Diamond said, “It’s about using technology to deliver continuous improvement in everyday business. People are not good at making a large volume of repeatable decisions with many different data inputs. If the business decision, or the outcome of the resolution tomorrow, is pretty much the same as what happened yesterday, then there is a chance for machine learning to help improve the situation.”
Laëtitia Hugé said, “Agility and flexibility are increasingly important for fashion players. Cutting-edge technology is supporting the fashion industry as it steps into the 4.0 era, ensuring businesses have the right solutions in their own ecosystems, to effectively harness the right data to make the right decisions.”
The round table was moderated by the co-director of Lectra-ESCP Europe ‘Fashion and Technology’ Chair Valérie Moatti. (GK)
For the participants Robert Diamond, founder and CEO, Fernbrook Partners; Dan Hartley, global head of digital commerce, AllSaints; Laëtitia Hugé, vice-president, product marketing, Lectra; Pierre Mercier, senior partner and managing director, Boston Consulting Group; and Evelthon Vassilou, CEO, Alison Hayes, there was consensus. Industry 4.0 represents unparalleled opportunities to take the fashion industry forward.
From brand to manufacturer, panellists from across the value chain emphasised the necessity for the industry to embrace the alliance between man and machines to leverage massive benefits, from quicker decision-making to cost-reduction.
Evelthon Vassilou said, “Interpreting the data of what is, and isn’t, selling should help to speed up decisions. You can react very quickly across the entire supply chain, and either stop producing something unsuccessful or ramp up production if successful. Data and data analytics is not sufficient, to succeed this also requires a high degree of trust and integration between retailers and suppliers.”
Robert Diamond said, “It’s about using technology to deliver continuous improvement in everyday business. People are not good at making a large volume of repeatable decisions with many different data inputs. If the business decision, or the outcome of the resolution tomorrow, is pretty much the same as what happened yesterday, then there is a chance for machine learning to help improve the situation.”
Laëtitia Hugé said, “Agility and flexibility are increasingly important for fashion players. Cutting-edge technology is supporting the fashion industry as it steps into the 4.0 era, ensuring businesses have the right solutions in their own ecosystems, to effectively harness the right data to make the right decisions.”
The round table was moderated by the co-director of Lectra-ESCP Europe ‘Fashion and Technology’ Chair Valérie Moatti. (GK)
Fibre2Fashion News Desk – India
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