There is no doubt that the global textile and apparel industry has a significant presence in the world’s economies as the textile and apparel supply chain represents over 30% share of the world’s total industrial sectors. With textile and apparel companies around the world seeking better solutions and more sustainable models for their future development and supply chain management, it is important for all parties in the global textile supply chain to be fully prepared for the upcoming changes and transformations in the global market. BizVibe has identified the 3 biggest trends in the global textile and apparel market that all suppliers, buyers, manufactures and sellers should pay close attention to.
There will be more extensive integrations and collaborations in global market
Due to uncertainties and challenges in global textile sourcing, and manufacturing and trading mainly driven by political and economic factors, textile and apparel companies across the world are advised to have more extensive integrations and collaborations to increase their stability and sustainability in supply chain management. Through integration and collaboration, different companies in different parts of the supply chain can work together to find solutions and achieve results faster and more effectively, instead of dealing with problems individually. Thus, the global textile and apparel supply chain is expected to see more integrations and collaboration, both vertically and horizontally, in the near future. While companies are actively seeking suppliers, buyers, sellers, and partners, they should also make sure that they can easily be found and are willing to collaborate with others.
Technical and smart textiles will obtain larger share
Technology and innovation are not only beneficial to the textile production process, but also help in the development of new textile materials with different functionalities. As the global textile market is experiencing an increasing demand for functional textiles in diverse industries such as aerospace, shipping, sports, agriculture, defence, health care, and construction, technical textiles and smart textiles are seen as the best solutions for meeting the requirements of health and safety, strength and durability, weight, versatility, customization, user friendliness, and eco-friendliness. Alongside newly emerging specialty manufacturers, more and more textile companies have also transformed their production lines from mass production of “fast fashion” items to manufacturing more value-added technical and smart textiles; this trend is expected to continue over the next few years.
Data and Information technology will further facilitate global textile supply chain management
Modern data and information technology allows companies across the globe to form a virtual connection, whereby supply chain partners can exchange data and information in real time. This is viewed as the best solution for the problem of uncertainty in the global textile supply chain. Information is the key to creating a coordinated supply chain; the existing models of the textile and apparel supply chain are based upon the visibility of information. For example: an apparel item is out of stock from a retail store; all participating members of the supply chain from raw materials to the final distributor will be informed simultaneously via digital and internet-based systems about the requirements and value fulfillment of this particular product. The future model will be based on multi-participant information sharing platforms, where key stakeholders, suppliers, manufactures, buyers, and logistics service providers will be able to search, network and communicate with each other more effectively and easily.
To minimize the negative impact that these future trends might have on your textile and apparel business, it is important to make sure your company is fully ready to adopt new strategies accordingly. As the world’s smartest B2B marketplace, BizVibe is dedicated to textile and apparel companies from all over the world, helping them to become fully adequate and well adapted for these upcoming trends in the global textile and apparel industry.
However, simply preparing your business isn’t enough. Since the global textile and apparel industry is already a highly integrated and collaborated supply chain, drawbacks from any stage of supply chain might could have a negative impact on your business. This is why when searching for suppliers, buyers or partners, it is also important to find and connect with verified companies who are already adapting to these trends, just as you are.
BizVibe uses cutting edge machine learning tools and multiple sophisticated algorithms to match like-minded and businesses with each other, making sure you can find the right suppliers, buyers or partners. By aggregating, categorizing, and parsing data from thousands of sources, users on BizVibe are presented with a layer of fully integrated social networking, communication and lead prospecting tools.
Thanks to advanced data and information technology, BizVibe’s on-site tools, like real-time chat and newsfeed features, allow textile businesses to maintain a constant flow of information. Whether it’s company profiles, product catalogues, contact details, or market trends, businesses can always stay up to date with the latest news in the textile and fabric world.