Behind the racks of clothes in your local store lies a $1.000 trillion global industry created by your wants and needs. The primary objective of the fast fashion is to quickly produce a product in a cost-efficient manner to respond to fast changing consumer preferences in as near real-time as possible. That's why most of your clothes is produced in the parts of the World where it's the cheapest.
Minimum wages around the World (USD/PPP)
With fast fashion suppliers must adjust to smaller orders placed by retailers and wholesalers, and improve turnaround times. This puts pressure on their raw material, transportation, quality control and labor costs. Ultimately, this has serious consequences on all levels in the supply chain and an immense impact on the environment.
The rules of the fashion business has changed in light of the way consumers shop today. Customer preferences change faster, which speeds up inventory turnover requirements. In order to meet consumer expectations, retailers must decide where to make or source merchandise. Their decision influences prices, profits and product availability. In addition to sourcing issues, the apparel industry faces changes on the customer front, inventory pressures and a growing awareness of environmental and production practices.
In our global world, the modern supply-chain is a complex business. The supply chain is in actual fact, more of a pyramid, with suppliers having many suppliers of their own. The number of entities increases almost exponentially throughout the chain. This makes it almost impossible for many producers and most consumers to know who made their clothes and how it was made. It’s time to solve the mystery.