Supply chain management is a critical process for modern textiles and apparel businesses. Whether it’s searching for the right supplier/buyer/manufacturer, building a strong business network, creating distribution strategies or managing inventory, it is not uncommon to face challenges at every step of the supply chain process. New challenges arise frequently and they need to be met with new solutions. Businesses who have an efficient supply chain process due to their quick dismissal of obstacles increase their chance of success. One of these new solutions is using B2B e-commerce platforms, such as BizVibe. BizVibe is the world’s smartest B2B marketplace, specifically designed to helping businesses from around the world and trade seamlessly.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170215006123/en/
Top textile supply chain challenges from BizVibe. (Graphic: Business Wire)
BizVibe’s business analysts have highlighted the top supply chain challenges textile companies continue to struggle with:
Long procurement time
Between purchase planning, supplier research and selection, value analysis, negotiations, and actually making the purchase, the procurement process can take a very long. Inventory management is also a common issue as retailers often end up out of stock, delayed or overstocked, since market trends are changing much faster than their procurement processes.
Supply chain inefficiency
Production of goods only accounts about 10% to 20% of the total time for the textile supply chain, the remaining time is spent for information processing from one end to the other. These processes include building the right connections, sending/receiving RFPs, manufacturing, dispatching, and payment procedures.
Lack of information sharing
Having a proper flow of information among textile supply chain members influences the performance of overall supply chain performance. This information includes customer data and demand, inventory status, production and promotion plan, shipment schedules, payment details, etc.
Lack of online presence
As textile businesses go global, competition increases. With more companies fighting over an increased share of the market, building and maintaining an online presence is vital to remain competitive. The easier a company is found online, the more business opportunities comes their way.
How does BizVibe help with common supply chain challenges?
BizVibe was designed with a single focus in mind – making networking easier to help businesses enable trade. The platform uses cutting edge machine learning tools and multiple sophisticated algorithms to match like-minded businesses with each other. By aggregating, categorizing, and parsing data from thousands of sources, users are presented with a layer of fully integrated social networking, communication and lead prospecting tools at their disposal.
The platform allows users to easily source potential buyers and suppliers, receive updates from their favourite companies in a customized newsfeed and chat with companies of interest in real-time within the network. There is also a RFP/RFQ feature to help match companies with the strategic partners and save time with negotiations.
BizVibe is free to register and generates high quality organic traffic for your business listing, increasing online visibility which ultimately leads to more business opportunities.
BizVibe is home to over seven million company profiles across 700+ industries including 50,000+ apparel and textile companies across 200+ countries, covering all sectors. The platform allows you to discover the highest quality leads and make meaningful connections in real time. Claim your company profile for free and let the business come to you.
BizVibe is headquartered in Toronto, and has offices in London, Bangalore and Beijing. For more information on the BizVibe network, please contact us.
Copyright Business Wire 2017