Supply Chain – The 'Speed to Market' Agenda
In the Apparel, Footwear and Accessories (AFA) industry, the faster you can bring the product to the market, the more competitive your company is likely to be. The importance of speed-to-market has made it essential for AFA companies to maintain an agile supply chain. In addition, the increasing trend of a greater number of fashion seasons, high SKU proliferation, global sourcing and manufacturing have heightened pressure on the supply chains across the AFA industry.
Given the diverse and large supplier base, procurement teams are often faced with the challenge of utilizing their limited time and resources effectively in order to maintain relationships. It becomes imperative that procurement professionals channel their energy and use a scalable approach to supply chain sourcing and management. The Relationship Segmentation Framework, as depicted in Figure 1, enables procurement professionals to achieve cost savings.