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Time for Change - How to use the crisis to make fashion sourcing more agile and sustainable

This article assesses the impact of the crisis on sourcing operations and spotlights the steps that companies are taking in their immediate response. Then the strategies—and the paradigm shift—that will be necessary to reshape sourcing practices moving forward are pivoted. Two key objectives for this long-term transformation are suggested: a demand-driven supply-chain model and sustainable sourcing. It is emphasized that, for every fashion close collaboration at all levels along the value chain is required.

It was conducted a largescale survey among sourcing executives and a broader group of stakeholders—asking both how companies can respond to the crisis now and how they envision the future of the industry. The survey, conducted between April 14 and April 22, 2020, engaged 116 sourcing executives from fashion retailers and brands predominantly in North America and Western Europe; between them they manage more than $120 billion in sourcing value. Insights from more than 230 other Sourcing Journal subscribers are included, who are stakeholders across the value chain, including suppliers, agents, and academics. The survey was conducted in collaboration with the Sourcing Journal. These sourcing executives and stakeholders make clear that, beyond immediate crisis management, the industry needs to shift towards a more sustainable and demand-centric future.

Herausgeber*in/Autor*in: McKinsey; Autor*in: Achim Berg, Lara Haug, Saskia Hedrich Karl-Hendrik Magnus

Medienart: Hintergrundinformation

Erscheinungsjahr: 2020

Zielgruppe: Student*innen, Erwachsene

Sprache: Englisch

Umfang: 20 Seiten
Bezug: Informationen auf der Website oder kostenfrei zum Download als PDF-Datei

Suchbegriffe: COVID-19, Corona, Digitalisierung, Einkaufspraktiken, Globalisierung, Lieferkette, Nachhaltigkeit, Nearshoring, Produktionsstandort, Studie, Supply Chain, Transparenz, Unternehmensverantwortung, Untersuchung