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'Textile cos can get large returns from tech investment'
04
Jul '15
A discussion on ‘Making Technology Work in Fashion’, initiated by the International Apparel Federation (IAF) in Frankfurt during the Texprocess and Techtextil fairs, concluded that return on investments in technology are often large and can be made fast. Financing the investments should, from a total supply chain perspective, not be the problem, it said in a press release.

The panelists at the discussion acknowledged that benefitting from technology that reduces environmental costs, or speed up the product development process or that enable made to measure production all require collaboration of different departments within companies and longer term commitments between players in the supply chain. This requires knowledge and leadership.

The panelists called for companies to take full benefit from investments in technology that requires rethinking for the entire processes and not just optimizing existing processes.

They also agreed that technology is both enabling change and forcing fashion brands, retailers and manufacturers to change their businesses. This requires bold leadership and leaps of faith. The key to successful implementation of technology therefore is the management of change and the entrepreneurial courage to be a first mover.

The discussion was moderated by IAF’s Secretary General Matthijs Crietee. (SH)

Fibre2Fashion News Desk – India

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