Home / Knowledge / News / Information Technology / 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

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: Shutterstock

Textiles | On 27th Feb 2020

ADD removal on PTA respite to man-made textiles: Ind-Ra

The withdrawal of anti-dumping duty (ADD) on purified terephthalic...

Interviews View All

Footwear industry, Head honchos

Footwear industry
Head honchos

Personalised and differentiated footwear is in high demand

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

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

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

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

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

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


February 2020

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


Advanced Search