The fashion industry is the 3rd most polluting industry in the world, and by the year 2030, it is expected that there will be 148 million tons of fashion waste. With such data, it is undeniably important to understand the importance of ‘Sustainability in the Fashion Industry!’
A company’s approach to GRC (governance, risk management, and compliance) can help align the organization’s processes and actions to achieve its goals. The term GRC refers to the composite function of governance, risk management, and compliance. It can identify and address organization-wide risk, and ensure all activities meet legal and regulatory requirements.
Taking steps toward sustainability and greener manufacturing is a financially sound decision. From tax benefits and access to exclusive grants and loans to higher stock prices, the shift toward green operations is undoubtedly a wise decision.
Sustainability, much like charity, begins at home. It’s an inside out process that needs to start at the core of a business or a person. The shift toward sustainability isn’t just about how we can do things differently, it’s also about how we can think differently.
In a dynamic and rapidly evolving market, product lifecycle management (PLM) is often the crucial tool that separates the winners from the also-rans. It empowers organizations to anticipate and respond to the inevitable gusts of change that regularly sweep through every industry.
A prime example of rapid and relentless evolution is supply chain management (SCM). New technologies and innovations have significantly boosted its capabilities, and SCM is now able to deliver a lot more than what was thought possible a few years back. Here is a look at some of the exciting new developments in the world of SCM.
Traditionally, performance monitoring has been at the hardware level and involved collecting and monitoring data from the infrastructure. However, this approach fails to provide insight into the end-user’s experience and has minimal business relevance. Though, with modern digital experience monitoring (DEM) and application performance monitoring (APM) tools, enterprises are able to collect information that helps ascertain a business’ overall health, not just that of the IT layer.
Automation using robotics will also boost elastic logistics by enhancing efficiencies and productivity in warehouses, sorting centers and last-mile deliveries. Supply chain organizations are also expected to move away from a singular focus on becoming lean and cutting cost, and instead favor the building of “fail-safe elasticity” in managing demand.
In this competitive world, companies look at redesigning their production processes and activities to stand up to the competitiveness that the markets demand. To add value through every process is key to the success of each organisation. Value stream mapping (VSM) is a powerful tool in lean implementation to streamline processes and achieve that highest level of productivity in the industry.
The supply chain business typically has wafer-thin margins and hardly any room for expensive
errors. Over time and with ample data, industry players can create digital twins and immersive
experiences that deliver a bird’s-eye view of the entire supply chain.
