The company has come up with new technology for the textile industry, producing only what is demanded by the market and reducing the waste of resources.
June 25, 2020 —
Offloading excess inventory poses a problem for garment manufacturers since the raw material is sourced in bulk from multiple vendors through multiple supply chains. This is distinctly true for the fast fashion segment where styles and inventories are created weekly, leading to huge stocks of unsold inventory. A fashion-tech company, Indian Beautiful Art (IBA), has now come up with an automated Just In Time(JIT) technology for the textile industry, which helps in producing only what is demanded by the market and controls utilization of resources along with no dumping of waste fabric or garments. From printing to dispatching the product, the order is managed within 48 hours.
“As CEO of a fashion-tech company, I constantly search for technology innovations that will impact my sector,” says Nitin Kapoor, CEO, and co-founder, Indian Beautiful Art (IBA). “The challenge for online and brick-and-mortar stores that sell fast fashion is that they must have a quick turnaround in styles and items and, as a result, are often left with excess stocks. The unsold inventory must then be sold to final discount centers to help offset losses. An indication that this inventory problem is growing can be seen by new companies entering the market specifically to sell excess inventory.”
With the introduction and inclusion of disruptive technology, i.e., JITGM (Just In Time Garments Manufacturing), which is also a copyrighted process with the Government of India, it is expected, this new technology will reduce the waste of resources especially water. Here, the customer will place the order via AR (Augmented Reality) Images, which will offer customers multiple ranges of fabrics/colors/prints/embroideries. Then the garment would be produced within 48 hours after a customer placed the order.
The problem is being solved in two parts now. Instead of getting prints of the photoshoot, images on the clothes are tested using technology. This effectively cuts the cost of photoshoot production and creates a single prototype for various patterns of the same garment. The colors and designs are changed directly, saving time, resources, and labor. Second, the garment is only manufactured once the customer has placed their order. Right from printing to dispatching the product, the order is managed just within 48 hours.
With JIT in place, the company can ensure that every style and material is always in stock while creating new designs daily, even as stocking inventory is not required. This also ensures that capital is not blocked in unsold inventory. Further, the process is commercially and socially viable as fast fashion has a lot of unsold inventory, which ultimately gets dumped in landfills. “So we kind of make the garment after the customer places the order,” explains Kapoor. This business model gives more options to the client when purchasing the product, and on the backend, we create the product within 48 hours of receiving the order.”
IBA is fulfilling 10,000 orders a month through the JIT process and saving on costs since it is not an inventory-led model. It has a copyright on the JIT process, which the company believes will help it become a market leader in the domain shortly.
Currently, IBA makes garments for women in the age group of 20-45. Further, with the JIT process, it can manufacture a gas-to-offline business model wherein a customer would be able to check the physical sample of the product on the physical store and then order the color or print by checking the model images.
“With this, there is a greater sense of satisfaction about the material and size as the customer has checked it out. Our huge catalog of colors and prints wearing the same dress would also attract more and repeat customers for new designs which we would be able to create,” Kapoor elaborates.
Contact Info:
Name: Nitin Kapoor
Email: Send Email
Organization: IBA Crafts Pvt Ltd
Phone: +91 9810 247 147
Website: http://Inkmeso.com
Release ID: 88965661
