The New Normal Of The Textile Industry

- Jul 31, 2020-

The new normal of the textile industry

Due to environmental, political or economic reasons, the new crown epidemic has exposed the vulnerability of the global textile industry to unexpected supply and demand shocks. Brands/retailers and manufacturers are aware that they must consider the cost of such incidents, and then adjust their procurement and production strategies to reduce the risks and costs caused by such incidents. This means that the future supply chain will no longer be centralized, but more regional. Therefore, compared with the situation before the crisis, the supply chain will no longer tend to be optimally configured, but it will be stronger and more expensive. During the pandemic, the application of digital tools and solutions at the consumer and manufacturer levels has improved. In addition, mass customization will play a greater role. Therefore, the future textile supply chain will be more demand-driven, which will require brands/retailers and manufacturers to interact more flexibly and cooperate more closely and transparently. In addition, consumers are also more aware of the economic and social consequences of the disruption of the global supply chain. Coupled with the challenges posed by climate change, sustainability will become increasingly important in environmental and social issues.