COVID-19 has brought much of the retail industry to a standstill as factory closures have given way to a fretful, distracted consumer. As a result, much of Spring 2020 has been wiped from the books. In order for retail to jumpstart the next chapter—one that quite possibly includes the novel coronavirus as a cyclical threat that emerges and re-emerges around the globe—it will have to embrace new operations that de-risk the supply chain.
In this new normal, both fashion firms and their suppliers need to sharpen their planning and boost their agility. It’s no longer enough to simply read and react, or to make decisions based solely on historical data. Today, the industry must become proactive about product development, assortments and pricing, placing product bets quickly and accurately.
Join Sourcing Journal on April 15 at 2 pm ET to learn how to apply consumer data to mitigate risk and protect margins. The discussion will focus on: