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Intelligence In Fashion Supply Chain

Started by usaawl7, Sep 23, 2022, 12:39 AM

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usaawl7Topic starter

Due to the pandemic, there have been significant alterations and modifications in every industry, including fashion. Non-essential businesses were forced to shut down, resulting in a dissertation of fashion retailers out of regular business for months. This led to a surge in online sales as more people started resorting to eCommerce during the quarantine.

AI has great potential applications in supply chain management. According to a McKinsey survey conducted in 2019, businesses that use AI often saw a rise in sales related to expenditure analytics and sales and demand forecasts as supply chain use cases resulting in revenue. Intelligent warehouses and autonomous cars could also assist with inventory management and shipping.

Retailers can leverage smart analytics solutions to offer personalized product options, discount offers, and seasonal details, enhancing their customers' overall experience. However, analyzing the massive amounts of data created in supply chain networks is still a challenge. Although a typical supply chain accessed 70 times more data in 2022 than it did five years ago, only around 25% of this data was being examined. Moreover, 80% of supply chain data is unstructured or dark data, which organizations are trying to analyze effectively.
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