To create and sell a product is not difficult. But to do it more efficiently than your competitors is another story, especially in the fast-paced fashion industry. In order for a company to develop an efficient supply chain and to be profitable, it must be able to quickly respond to consumer demands, as well as quickly satisfy those demands. In our current world of fierce competition, timing is key. Companies often come up with ideas that have great profit potential, but it may take a relatively long time in order for the idea to take physical shape, and even longer for it to be delivered to the consumer. By then, competitors may have produced a similar product, and consumers may have different preferences. The article “Fast Fashion Lessons” attributes the success of Zara (a company that sells affordable “high fashion” clothing) to its “shared situation awareness” system. Zara understands the time issue, and makes an effort to discover opportunities in the market and act quickly upon them. It also aims to create high traffic in its stores by stocking low on inventory to create a sense of urgency amongst its customers. The various techniques used in its supply chain have given Zara more control and power in the industry.
Link to the article “Fast Fashion Lessons”
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