Home / Knowledge / News / Information Technology / 'Financial supply chain vital in global textile sourcing'
'Financial supply chain vital in global textile sourcing'
13
Oct '14
Mr. Kurt Cavano
Mr. Kurt Cavano
“Financial supply chain has proven to be a winning solution in global sourcing of textiles and garments as buyers are relieved of risk and cost and suppliers have access to capital they need to run their business,” a top honcho of a cloud based supply chain platform provider told fibre2fashion.

Kurt Cavano, Founder, Vice Chairman and Chief Strategy Officer at GT Nexus, a US company he founded in 1998, was discussing and explaining importance of financial supply chains and importance of cloud based platform in global sourcing of textiles and garments.

GT Nexus helps client companies in managing their logistics and trade processes and believes that in the future, one may not get to see competition amidst companies. But rather, the competition would be amidst supply chains.

It strongly propagates the use of cloud technology in supply chains and works on a single idea - to put a cloud platform at the center of an industry, and let companies access a number of supply chain processes cheaper and faster.

He said, “Financial supply chain refers to capital and liquidity across the supply chain. A growing number of companies are recognizing the supplier-related risks that stem from capital constraints. For a long time, suppliers were being beaten down on price and payment terms.

“This resulted in suppliers struggling to survive. The potential impacts of a supplier going out of business or of being late on an order are well documented. Companies have recognized the need to partner with suppliers on the approach that ‘my supplier is an extension of my business’ and taking steps to ensure their financial health.

“Several programs are available today, such as early payment programs that give suppliers access to payment within days. These programs not only remove time from the payment cycle, they also remove capital costs.

“When the buyer, supplier and finance provider are tied together on the same network, the finance provider can offer financing to the supplier based on the credit strength of the brand or retailer.” (AR)

Click here to read rest of the interview.

Fibre2fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search