How to Minimise the Impact of Global Currency Fluctuations on Your Supply Chain
Recent huge volatility on exchange rates between currencies has created havoc with Global supply chains, particularly fashion, leading to:
- A dramatic impact on margins
- Fundamental re-costing exercises by most businesses = big disruption and pressure
- In many cases, a shift in supply base to achieve better prices e.g. Bangladesh
- Even then, huge price pressures on all vendors
- Attendant risks in terms of new vendor delivery performance, quality, compliance etc.
- Buyers are spreading risk and holding back on commitments, resulting in more styles, smaller orders and dramatically shorter lead times, which in turn leads to even more risk in the supply base
TO MAINTAIN AN EFFECTIVE SUPPLY CHAIN IN THIS ENVIRONMENT, EXCELLENT VISIBIITY AND COORDINATION ARE ESSENTIAL REQUIREMENTS, NOT JUST 'NICE TO HAVE' OPTIONS.
Excessively manual systems, severely hinder the ability to respond and manage priorities, resulting in increased risk of non performance and errors, including increased fire-fighting and excess costs.
FACT: In a tough business climate, most businesses will not invest and will continue to do the 'same old things' with the same manual systems, somehow expecting a dramatically different result. Some will not survive.
FACT: Some businesses will take decisive action and will gain REAL competitive advantage by dramatically improving their performance
Get the right tools for the Job... TOTAL VISIBILITY, COORDINATION, CONTROL.... with FastReact.
