As the fashion industry struggles to pivot to regain control of its supply chains, the digitization of the textile industry is surely now imminent. Here are some forces that are driving change in the industry.
The fashion industry is on fire (and not in a good way).
The future of many fashion brands is now under review. To survive, the industry must reverse its legacy of overconsumption, increase diversity throughout its supply chains, and shift towards a sustainable future, a future that will restore the integrity of fashion.
Cost and consequence.
Overconsumption and two decades of fast fashion have generated billions of tons of carbon; the impact has been substantial and the consequences for the environment catastrophic.
COVID-19 has forced the fashion industry to redefine its supply chains.
To survive, the fashion industry must now move at speed to adopt digital technologies, from design to production. The supply chain must now evolve, adopt industry 4.0, and embrace digitization. This also means reshoring manufacturing in Europe and North America at some level.
Collaboration is the key.
All stakeholders must move in unison to share knowledge, data, and—above all—adopt transparency within the supply chain.
Digitization is the future of fashion.