How can the Intelligent Enterprise Impact the Fashion Industry?
The digital economy is disruptive. Fashion companies need to focus on strategic priorities that will let them drive transformation and create significant opportunity along the way. SAP supports a reimagined set of end-to-end business scenarios to support the strategic priorities of working in a digital environment.
Serve your customers by name - Leverage customer insights from a single view of the customer to provide targeted personalized offerings and individual customization.
Create inspiring brand experiences - Unify your shopping experiences online and offline, and extend your brand with compelling content and sponsorship.
Drive operational and channel flexibility - Serve more channels profitably across business scenarios to maximize reach and customer proximity.
Establish agile supply with E2E visibility - Execute a customer-centric supply chain to intelligently connect people, things, and processes for greater efficiency and new levels of responsiveness.
Unlock new offers and business models - Leverage new technology and a superior understanding of customer needs for new revenue-generating offers and services.
The future is now –and in constant change –led by consumers disrupting business models and rules of engagement. Consumers and shoppers do not forgive or forget poor service and bad experiences. They expect relevant offers based on their needs and seamless retail execution without friction. This is now the standard. C-levels in the fashion sector are kept up at night by the question: How can I ensure my technology investments help serve the ever more demanding consumer, support my differentiation in the market, and enhance my brand presence? We believe a digital core with a single source of truth for customer, order, and product information; real-time insights into all areas of the business; and the ability to respond instantly is the answer.
Stability and flexibility of a digital core A digital core is an IT architecture that offers stability and long-term reliability for core fashion processes yet also provides the flexibility to adapt quickly to new challenges and opportunities. This solid foundation gives you a single source of truth with detailed, real-time views of customers and the business that fuel all business processes yet enable flexibility for innovation to accommodate new business models, new regulations, market expansion, and business events, such as mergers or acquisitions.
Immediate response In fashion, trends and opportunities come and go faster than in most other industry sectors. Social listening, simulation, predictive, and analytical capabilities are important compo-nents to understanding and preempting new trends and changes in demand. The winning fashion brands are not only finding opportunities faster than others, but they are also able to act and run end-to-end (E2E) processes across departments to deliver the styles of tomorrow ahead of the competition.
Embedded intelligence Improved processing power is making new technologies such as machine learning, augmented and virtual reality, blockchain, and the Internet of Things (IoT) applicable in more areas of the fashion business. Embedding these technologies with core processes allows further optimization and automation of business processes as well as more-impactful, -personalized, and -contextual consumer experiences.
Integrated and connected to the outside world Finally, connecting E2E processes with embedded intelligence to the outside world with sensors, wearable technology, and other IoT devices allows fashion companies to create next-generation business processes that drive unprecedented efficiency and optimization, enable new levels of customer connectivity, and help create new business models.