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Deploying technology to help SME apparel manufacturers scale quickly: Fashinza
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
After two years of the pandemic, the festive season this year is expected to be bigger than ever before. Geo-political tensions and inflationary pressures aside, customer sentiment is buoyant and sales across categories, especially garments and apparels, are expected to be big. But in the couple of years gone by, the pandemic pummeled the garment …
Continue reading “Deploying technology to help SME apparel manufacturers scale quickly: Fashinza”
After two years of the pandemic, the festive season this year is expected to be bigger than ever before. Geo-political tensions and inflationary pressures aside, customer sentiment is buoyant and sales across categories, especially garments and apparels, are expected to be big. But in the couple of years gone by, the pandemic pummeled the garment exports sector real hard.
Many SME apparel manufacturers had to shut shop or take on debt to stay afloat. In the face of uncertainty, some apparel manufacturers embraced technology and worked at turning challenges into opportunities. New-age fashion supply chain helped such SMEs stay afloat and prosper.
Traditionally, Indian SME apparel manufacturers are not well-equipped with the knowledge, infrastructure and funds required to expand operations and grow their business. Also, working capital is a big issue. Even if they get orders from different brands, they don’t have running capital. Payment delays are common and there is no easy banking finance support. Other challenges include technical upgradation, know-how for better productivity and better quality. Also planning and visibility of order management is lacking.
Upgrading quickly on all the above parameters is not an easy tasks and can take years. But what does work well is a partnership with a nimble tech partner. Fashinza, a SaaS platform and a fashion supply chain marketplace, partners with SMEs, helping them quickly upgrade and move up the value chain. During the pandemic Fashinza helped apparel SME manufacturers keep their order books full. Using technology and a sophisticated network of suppliers, Fashinza ensures that it provides work to SMEs, which also helps Fashinza grow.
According to Abhishek Sharma, COO and Co-founder, Fashinza, SMEs face multiple challengers when it comes to scaling their business. He says, “We provide a very versatile manufacturing execution system to SMEs for better transparency over their manufacturing process, which helps them to achieve better quality with increased production efficiency. We also provide PO financing to SMEs, who struggle to manage their working capital.”
Abhishek Sharma added, “Fashinza’s platform directly connects brands and suppliers over their chat option in which both sides can comment, add media or chat with each other. For the compliances, our quality and technical team supports the SMEs. We’ve partnered with various logistics companies for competitive pricing and support for our SMEs for both sample and bulk shipments. Deliveries and GRN complexities are managed with our support.”
Fashinza is building the reach of Indian SMEs to global fashion brands through different channels. From order-query management, design and catalogue support, vendor verification and vendor management, simplified digital tools to manage sampling, orders, approvals and every other time and action plans for every order. It is a win-win situation for both Fashinza and for SMEs.
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