Nov 12 2024 50 mins 7
In this episode of Supply Chain Now, Scott W. Luton and Karin Bursa are joined by Ellen Meiner, Founder and Principal of the Ellen Meiner Consulting Group, and Kerry Fogarty, Senior Vice President of Client Relations at PartnerLinQ, for an insightful conversation about current and future insights of the fashion retail industry.
The panel explores key trends shaping the fashion industry, focusing on the critical role of AI and machine learning in demand planning and forecasting. Ellen and Kerry share insights on how these technologies are being leveraged to transform data into actionable insights, driving more precise forecasting and inventory management. They also discuss the complexities of data integration, sustainability challenges, and the importance of creating a data-driven culture to stay ahead in a rapidly evolving market.
Tune in to learn how fashion retail leaders can navigate today’s fast-paced, multichannel environment by embracing technology, optimizing supply chains, and ensuring they are prepared for future disruptions.
Jump into the conversation:
(00:00) Intro
(06:02) Trends in fashion retail: Data complexity and multichannel integration
(08:23) The role of AI and machine learning in demand planning
(12:20) Challenges in data integration and moving beyond spreadsheets
(15:15) Trusting data: Overcoming organizational silos
(17:52) Scenario planning and navigating economic volatility
(21:30) Optimizing inventory with AI-driven forecasting
(24:45) The importance of building a data-driven culture
(29:08) Addressing scalability challenges in the fashion industry
(33:14) The role of AI in improving consumer insights and sustainability
(38:06) Practical steps for fashion retailers to embrace technology
(42:12) Collaboration across departments for better forecasting
(46:05) Final takeaways and actionable advice for fashion leaders
Additional Links & Resources:
- Connect with Kerry Fogarty: https://www.linkedin.com/in/kerryfogarty/
- Connect with Ellen Meiner: https://www.linkedin.com/in/ellenmeiner
- Learn more about PartnerLinQ: https://www.partnerlinq.com/
- Connect with Scott: https://www.linkedin.com/in/scottwindonluton/
- Connect with Karin: https://www.linkedin.com/in/karinbursa/
- Learn more about Supply Chain Now: https://supplychainnow.com
- Watch and listen to more Supply Chain Now episodes here: https://supplychainnow.com/program/supply-chain-now
- Subscribe to Supply Chain Now on your favorite platform: https://supplychainnow.com/join
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This episode was hosted by Scott Luton and Karin Bursa, and produced by Amanda Luton. For additional information, please visit our dedicatd show page at: https://supplychainnow.com/key-trends-shaping-future-fashion-retail-1350
