According to a recent report by Unleashed, the fashion industry in the UK has made impressive strides in reducing lead times for clothing, fashion, and accessories since the onset of the pandemic. Despite facing numerous challenges, such as supply chain disruptions, the industry has managed to become one of the top sectors in terms of cutting lead times compared to pre-pandemic levels. The report indicates a significant drop of 49.86% between 2019/20 and 2021/22.
The achievement of reducing lead times by the fashion industry is particularly noteworthy considering the obstacles posed by the pandemic. It would be reasonable to assume that these difficulties would hinder the industry’s ability to streamline processes and decrease lead times. However, companies within the sector have shown great determination and ingenuity in finding solutions, leading to this remarkable outcome.
The study, which analyzed more than 2,500 businesses and 25 different sub-sectors, identified clothing, fashion, and accessories as the fifth most successful industry in cutting lead times among the top 10 sectors covered. This placement positioned them between the food sector and agriculture, forestry, and fisheries.
Stephen Jones, Regional Manager UK & EMEA at Unleashed, commended suppliers for their resilience in navigating the complexities of global supply chains during uncertain times. He recognized that recent crises have only fueled their determination to improve. Jones also stressed the importance of inventory management and suggested that adopting the right technology can help businesses track actual versus expected lead times. This enables them to meet customer expectations and seek alternative suppliers if necessary.
The significant reduction in lead times for clothing, fashion, and accessories demonstrates the industry’s adaptability and resilience in the face of adversity. Despite the challenges posed by the pandemic, UK fashion brands have shown their ability to find innovative solutions and achieve substantial improvements in supply chain efficiency. This accomplishment underscores the industry’s commitment to meeting customer expectations and delivering products in a timely manner. As the fashion industry continues to recover and adjust to the post-pandemic landscape, these reductions in lead times are expected to contribute to its overall success and growth.
Useful Links:
1. Business of Fashion: A comprehensive platform providing insights and news about the fashion industry.
2. McKinsey & Company – Fashion Labels Tackling Supply Chain Waste: An article discussing how fashion labels are addressing supply chain waste and improving efficiency.
