In an article on Sourcing Journal Online on 28th April consensus is that the relentless pressures for markdowns show no sign of abating in the retail fashion business. Many top brands made no secret of their need to slash prices in the 2013 holiday season. Smaller firms felt even greater pressure to cut prices.
There’s no escaping consumer demand for faster fashion at lower prices, but many companies are learning to respond effectively with the help of better technology.
In the article Bob outlines that by creating a common platform for collaborative work, and by structuring that collaboration to make it easy and efficient for everyone involved, PLM solutions help companies develop and source or manufacture better products faster and get them to customers more economically. That increases the chance of delivering the right product at the right price to the end consumer, which in turn, avoids profit-killing stock outs and markdowns.
This article was authored by Infor’s own Bob McKee, Global Fashion Industry Strategy Leader.
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