reported that the vendors cut the cost of a particular product a

 

Since every consumer desire for premium quality i newsvilla.org n affordable price ranges, the retailers must keep in stock such items that they think people will definitely buy. In other words, a company must preview buyers’ preference first and then place the price tags.

There are few advanced and efficient options like StitchFix and Zulily that offers less subscription pay for door to door delivery. This procedure will help the companies to analyze data through mac onnp.org hine learning and artificial intelligence to predict changing fashions. For example students would prefer different type of fashion accessories than elderly people out there. Some of the students who ask for supply chai panifol.com n assignment helpto get latest trends in fashion will also end up having facts and figures related to changing fashion among the youth.

4.     The Reliability Issue:

Since most of the companies order their stock from multiple vendors, some of the renowned companies have reported that the vendors cut the cost of a particular product and also increase its profit. The vendors carrying out these unethical practices do not have any future in fashion industry.  They should be banned there and then.

If a student would approach for supply chain assignment help for any project assistance, they would have got a better idea to track those vendors and discontinue taking stock from them. However, this corrupt vendor approach can be resolved through the use of blockchain technology when the companies will be responsible for the vendor from which a particular apparel or accessory was manufactured. Other brands will also be aware and overall fashion industry will be free from reliability and transparency issue.

5.     Extensive Costs Of Documentation:

Since fashion industry or any other industry requires a whole lot of paper work for recording transactions, invoices, preparing contracts, declarations of import and export, a company requires spending massive amount of documentation fees and paper costs. To reduce this costs, a smart contract based on block chain technology might be useful in future that will replace the traditional paper contracts. This contract will not only save time and money but also allow companies to track their vendors and manufacturers. Providing facilitation digitally, verifying and negotiating performance of your contract, a “smart contract” will make things much easier in fashion industry.