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

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X