Cybersecurity, compliance, and risk management are becoming increasingly complex today. Businesses must navigate a growing number of regulatory requirements and standards, including Sarbanes Oxley (SOX), NIST Cybersecurity Framework (CSF), FedRAMP, HIPAA, the EU's GDPR rules, and many others. With each framework evolving and expanding, enterprises need to stay up-to-date and adopt those that are relevant to their operations.
In the face of increasing business complexity, organizations require effective methods to identify and manage their critical activities while integrating diverse management functions into a cohesive discipline.
The retail industry is rapidly changing and evolving, and it has become clear in recent years that supply chains are not strong enough on their own to keep up with these disruptions. To stay resilient in the face of these disruptions, many companies have pivoted to ERP systems, or enterprise resource planning systems. In a recent survey of IT decision-makers, 53 percent agreed that ERP systems are an important investment and should be a top priority.
Fashion and apparel companies are adopting cutting-edge technologies to turn their supply chains from a purely operational hub towards nurturing innovation in response to growing globalization, greater product complexity and complicated customer demands. Innovation-driven businesses are gathering data at every step, from the flow of raw materials to tracing each step of the clothes manufacturing process that include sourcing of factories where materials are made into garments and the distribution network involved.
Supply chains over the past few years have changed tremendously. From complications such as demand volatility to the ripple effects of global bottlenecks, there’s an urgent need to optimize supply chain networks.
Consider supply chain network optimization as a thorough evaluation of the technology, application, and other resources you utilize daily to execute all operations involved in running your fashion business. Experts in supply chain management and logistics both highly advocate leveraging newer technologies that can streamline your processes in an efficient manner.
With the demand for sustainable fashion supply chains, transparency & visibility across the whole supply chain has become incredibly valuable. Everyone, from vendors, factories, to auditors, and end consumers, is beginning to look beyond the outfits on a mannequin. The focus on transparency is becoming the cornerstone of the real commitment towards strategic collaborations.
Most retailers evaluate the front end of the online store that customers interact with, but they almost never consider the back end of how they were formed. Consumers today expect apparel and fashion retailers to meet their demands swiftly and at the most affordable prices. More importantly, they also seek flexible shipping and a consistent omnichannel contextual experience.
Online and offline shopping are now more complimentary than ever. Increasing customer power & preferences is compelling fashion retailers to revisit omnichannel retailing from a renewed angle.
Suffering from the consequences of the Pandemic, the fashion industry after 3 years has begun to find its feet but the journey ahead is not as simple as one might imagine. The Pandemic acted as a catalyst and forced major fashion organizations to question their traditional mode of doing business. Changing consumer behavior, the emerging digital frontier, and a highly volatile demand are some of the factors that are forcing fashion organizations to reevaluate their key priorities.
The past few years have uncovered new dimensions of innovation across transportation, distribution, manufacturing, and healthcare. The impact of the Internet of Things (IoT) and advanced AI/ML has the potential to reshape how apparel, fashion, and footwear industries operate as well by introducing these technologies to the shop floor control. The question is how can IoT & AIoT add value to the apparel, fashion and footwear industries?
The fashion industry is at the cusp of transformative change and leading this change is Microsoft Dynamics 365 for fashion and cloud technology. Industry cloud for fashion is a breakthrough approach as it will enable fashion businesses to adopt an agile and modern infrastructure that is powered by a resilient supply chain, a compact connected commerce framework, digital sourcing, and intelligent planning.