The fashion industry has always been characterized as highly competitive and turbulent. The pressure of quickly delivering the latest trends across seasons in a variety of options to customers, at a price they can afford and keeping enough stocks of the right items makes the industry especially challenging. The industry is also notorious for its short life cycles, high volatility, low predictability, and high impulse purchasing.
Hyper leaps in technology over the past few decades have completely altered the landscape of the industry. Technology has helped fashion and apparel companies to optimize their supply chains and improve their logistics. This has also amounted to higher customer satisfaction, especially with the option of online shopping. Now, not only can a customer browse through catalogues and a range of options and sizes, but they also get to track their orders in real-time until it reaches their doorstep.
One of the technologies that have revolutionized the fashion and apparel industry is RFID. It has given companies much better control of their business by keeping a close eye on their existing inventory stocks and valuable real-time data about sales across multiple channels. In particular, RFID item-level tagging has helped companies further improve their business. Read more....
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