Home / Knowledge / News / Apparel/Garments / Sustainable sourcing becoming top priority for fashion

Sustainable sourcing becoming top priority for fashion

18
Oct '19
Pic: McKinsey & Co
Pic: McKinsey & Co
Sustainable sourcing is fast becoming a top priority for fashion companies, says a recent survey of sourcing executives which reveals ambitious targets—and highlights the transformation needed. However, true commitment, and a tremendous amount of work, will be needed to turn that aspiration into reality, adds the report by McKinsey & Company.

McKinsey’s 2019 chief purchasing officer (CPO) survey finds that sustainable sourcing at scale is the fashion industry’s new must-have. The survey shows that social and environmental sustainability has become a key priority for apparel companies, just as it is becoming an increasingly important issue for consumers and governments.

The survey titled 'Fashion’s new must-have: Sustainable sourcing at scale' reflects the perspectives of 64 participating sourcing executives, who together are responsible for a total sourcing value of more than $100 billion. Most report that responsible and sustainable sourcing is already a top priority on their company’s CEO agenda—and the area in greatest need of improvement in their companies.

The survey shows that companies also see real urgency in process-improvement actions such as digitisation of sourcing processes, consolidation of supplier bases, and end-to-end process efficiency.

"In our survey, we asked respondents to identify the three topics in sustainable apparel sourcing at the top of their agendas for the next five years. The top-ranked area for action was sustainable materials. Other priorities were transparency and traceability, supplier relationships, and purchasing practices," says the authors Achim Berg, Saskia Hedrich, and Karl-Hendrik Magnus.

The report makes it clear that most apparel companies will need to shift current practices dramatically if they are to deliver on bold expectations. But the industry lacks a common language on sustainable sourcing, let alone a shared set of standards.

Fibre2Fashion News Desk (RKS)


Interviews View All

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Priyanka, Studio Priyanka Rajiv

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Evelyne Cholet, UCMTF

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Lin Jing,

Lin Jing

Jiangsu New Victor is a Chinese mechanical equipment manufacturing...

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search