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Fashion industry 'must improve supply chain management'
Fashion companies urgently require a new approach to managing their supply chains, according to a report from KPMG.
Andrew Underwood, partner at KPMG Management Consulting, said the rise of 'fast fashion' and growing consumer pressures are placing greater demands on supply chain performance.
He suggested that embracing technology could be the solution, as companies that make use of cloud services to collate information instantly will be in the best position to monitor changing demand.
"With a growing number of consumers turning to tablets and mobile apps to shop on the move, supply chains somehow have to cope with rapidly changing demand, driven by social media rather than traditional channels," Mr Underwood explained.
A report published by KPMG in July warned of a "silo mentality" among UK organisations and claimed that many firms labour under the mistaken belief that their supply chain is immune to failure.
Corporate advisory partner Richard Nixon said supply chain complexity has reached "unprecedented levels" for many businesses.
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