Buyers Look for Value During The Economic Downturn
If the World before seemed difficult, the latest economic downturn hasn't helped, with Buyers placing even greater demands on their suppliers, both in terms of price and lead times. Various significant Retailers have recently faced criticism in the press for placing unreasonable demands on their vendors.
The response is not surprisingly....'Our customers expect us to seek best value from the supply chain on their behalf'. Certainly with the fierce competition on the High Street the situation is unlikely to improve dramatically.
With sales volumes down, not only are suppliers facing price reductions, but also a fear of unfilled order books.
Buyers themselves are only too aware of the risks of placing too much pressure on the supply chain. Some suppliers will simply not survive. Others will place the Buyer at significant risk by regularly breaking compliance rules. If identified by the media, such compliance violations can cause real and significant damage to a retailers reputation and trading volumes.
QUESTION: So when the pressure comes on, who are the Buyers most likely to place business with??
ANSWER: Suppliers who can demonstrate a high degree of flexibility and control and who, through efficiency gains, are able to be competitive on both price and lead times
In a difficult business environment, many fashion companies hold back, uncertain of investment decisions and some of this caution is justified.
Yet, it is important also to be able to identify those specific investments that enable you to leap forward and stand out against the competition. For most businesses, achieving improvements in VISIBILITY, COORDINATION AND CONTROL is essential to competing in the current climate.
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The Fashion Business is changing...... ARE YOU?
