Home / Knowledge / News / Company / Collaborative material management key to profits in retail
Collaborative material management key to profits in retail
05
Jan '13
ecVision, the leading supply chain collaboration platform provider for retail, announced that it will discuss collaborative material management best practices for retailers at the National Retail Federation Big Show in January 2013. Raw material pricing, availability and location are of the highest concern to retailers that responded to a Gartner survey released in December 2012.

ecVision Suite's Collaborative Material Management Best Practice helps brands, retailers and suppliers work closely together to deliver more innovative products, manage the sampling and testing process, as well as plan, forecast and reserve raw materials. All of these processes are included in this application that also features functional and reporting tools to get the job done with greater ease.

The benefits derived from this Best Practice allow sourcing teams to:
-Collaborate with suppliers on design concepts to deliver innovative products that sell-through
-Buy material early in the product planning stage to lock-in prices when they are optimal
-Provide material manufacturers with visibility into the anticipated needs to optimize cycle time
-Reduce sampling, testing and adoption processes by collaborating electronically
-Move to a Reserve Early/Purchase Later methodology that ensures production stays on course while delaying financial liability
-Track committed quantities versus actual orders placed to accurately determine utilization, minimize material liability and reduce costs

"Every product is only as good as the components used to build them and the cost of raw materials is the largest factor in an FOB price. Inflation of these costs is a financial concern to many manufacturers and retailers," said Jenny Roman, Product Manager for ecVision.

"Collaborating with raw material suppliers at the start of a product lifecycle is the most effective way to keep costs down and gain competitive advantage. But collaborative material management is a complex task given a retailer's international organizational structure and current infrastructure. By standardizing product development processes across diverse organizational teams and the international supply chain, best practices can be implemented to maximize efficiency, while reducing costs and time-to-market."

According to a Kurt Salmon survey of retailers in the US released in August 2012, 42% of the respondents feel raw material purchasing/consolidation is a cost savings strategy that can dramatically effect sourcing operations. Such strategies can significantly reduce the development cycle for new styles and speed up the replenishment cycle for existing styles.

ecVision


Must ReadView All

Oliver Dowden. Pic: GOV.UK

Retail | On 4th Dec 2020

UK events industry likely to be back to normal by Easter

Oliver Dowden, UK secretary of state for the department of digital,...

Pic: Shutterstock

Textiles | On 4th Dec 2020

US bans cotton imports from Chinese producer XPCC

The US Customs and Border Protection (CBP) agency recently banned...

Pic: Shutterstock

Apparel/Garments | On 4th Dec 2020

PVH Corp Q3 FY20: sales $2.11 bn; net income $70 mn

PVH Corp, a US-based global apparel companies, has reported 18 per...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Deepak Mundra,

Deepak Mundra

Surat-based Madhusudan Group is a vertically integrated textile...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

P V Kadole,

P V Kadole

Nine co-operative organisations from Ichalkaranji came together to form an ...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

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

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

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

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


December 2020

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


Advanced Search