Futurist Bernard Marr Spots Our Partner Stylumia
Bernard Marr a world-renowned futurist, influencer and thought leader in the fields of business and technology acknowledged our partner Stylumia as a part of his recent article on Three AI and Tech trends that will transform the fashion industry. Bernard is a best-selling author of 20 books, writes a regular column for Forbes, and advises and coaches many of the …
How do you achieve maximum return on fashion AI projects?
Return on fashion AI projects are more critical now than ever. A recent study by Thomas H. Davenport (president’s distinguished professor of information technology and management at Babson College, a visiting professor at Oxford’s Saïd business school, and a fellow of the MIT Initiative on the digital economy) suggests a six-pronged approach to generate value. The value you are generating …
How to transform the fitness of your fashion brand?
How to transform the fitness of your fashion brand? Like human fitness, the fitness of your fashion brand depends on building a healthy habit. As leaders, one of the biggest challenges you would be facing is effecting change. It is not having great ideas that matter but adopting them. It is not about having new tools, software, but adopting them. …
A Fundamental Flaw In Fashion Markdown Management
The fashion business is lost by what it does not sell than what it sells. Markdowns are a result of overbuys, wrong buys, or mismatch in distribution. Markdowns are also the highest cost element in any fashion profit and loss statement. Fashion retailers spend over US$ 1 trillion annually in markdowns in in-season and end-of-season programs. In this edit here, …
Fashion Allocation Optimisation – Learning From Bees
In fashion retail, allocating or distributing products to various stores/channels is an important and challenging task. The importance of fashion allocation optimisation is crucial in a multi-store and multi-product environment. In addition, demand uncertainties combined with the business constraints of inventory, store parameters, etc. make the problem challenging. Above all, the goal is to ensure high product availability and to …
A Must Avoid Obsession In Fashion Retail
One of the first principles in business is to focus on the customer, but many businesses obsess over the competition. This is a must-avoid obsession in fashion retail. Here is an edit with how you as a brand or retailer can shift systemically to customer obsession by design. Read the full article here.
The Killer Algorithmic Bias in Fashion Demand Forecasting
What is a bias? and, how does an algorithmic bias in fashion occur? Algorithms are mathematical equations or logical rules or algorithms generated by data (machine learning) to solve a problem. Just like the brain takes swift decisions, algorithms help us in quick decision making. Algorithms help us to predict an unknown. In other words, they help us to minimise …
A Fundamental Flaw In Inventory Optimisation For Fashion
Inventory optimisation for fashion is a top priority for leaders. The inventory if not managed well, can break any fashion business. We are at a critical juncture. Many fashion brands and retailers globally are facing challenges of managing their full price sell-throughs, reducing inventory pile up, and managing markdowns. Apart from the business metrics of revenue and profits, as an …
Demand Science For Fashion | A Paradigm Shift
The retail challenge has remained the same for decades. The challenge is in getting the right product at the right place at the right time and the right price. With the technology available today we are presented with an opportunity to transform the precision, localization, prediction and automation of the key decisions in design, buying, planning, allocation and pricing. Customer …