Discussions at the Roundtable pivoted around the need for innovations to survive and stay profitable in the highly competitive textile industry. Garment, textile manufacturing and retail companies must adapt to changing customer tastes and preferences and respond quickly by making informed decisions.
The group also discussed the adoption of cloud for flexible, subscription-based delivery model, which can help lower IT expenditures while continuing to provide visibility across the global value chain with system-wide transparency for key stakeholders.
“Retailers today face several complexities in the marketplace – technological advances, the need for strong brand distinction, growing competition, price pressure, changing legislation, and lingering economic uncertainties—in addition to more savvy consumers. To thrive in such an environment, retailers need to build relationships with their customers by offering innovative services - by leveraging machine learning, cloud, comprehensive supply chain insights, and a beautiful user interface that is intuitive, so that they can stay nimble enough for perpetual evolution,” said Ashish Dass, vice president and managing director, South Asian Subcontinent, Infor.
The event was attended by representatives from the CII, TEA, an association of producers and exporters of cotton knitwear and readymade garments and one of the prominent industry bodies in the textile manufacturing belt of Tamil Nadu, as well as top officials from textile companies around Coimbatore and Tirupur.
“The textile and garment industry is highly competitive and is rapidly evolving in a dynamic landscape with changing government policies. We are happy to have leveraged Infor’s M3 solution which is industry-specific and has helped us consolidate processes, optimise cost and adapt to changing business conditions like GST. Implementation of technology is always a cause of concern for any enterprise, but Infor provided ‘One Solution, One Experience’ to all apparel and textile customers in real time,” said Krishan Lal, Sr VP and head - corporate IT, LNJ Bhilwara Group. (KD)
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