Latest Fashion Trends
We have reached a point in time where fashion brands across the globe are starting to feel the need to embrace new technology just to stay on point. Customer needs are becoming nothing if not more unique. Combine that with the pace at which the industry is moving, and it is easy to see the need to improve creativity, support, and productivity in all areas, including clothing.
If you have heard of the way AI has been changing the game, then you are not the only one to have paid attention. Everything including design to business analysis has areas where AI can bring in tangible improvements.
Inventory Management
With globalization headed fast into complete realization, fashion brands are finding it hard to cater to people in new market and locations. Some foresight into what styles constitute best sellers is paramount to making sure customer satisfaction does not dip, and neither does profitability. AI can help fashion brands maintain just enough stock to keep business from halting, without, in the meantime, accumulating overstock. Forecasting errors can be done away with as long as demand is predicted accurately. What can also be kept accurate is the analysis of product returns.
Design Automation
Few things in the fashion industry are as important as design. AI these days plays a heavy role in the development of products from knitting mills. The right tools in this area let you go through consumer data and figure out what trends and styles go with the highest demands in the target market. AI can also be leveraged to generate data automatically, so that all you need to do afterward is examine it. This kind of automation is key to quickly and accurately meeting customer needs.
Production planning
It is the nature of the fashion industry that brands have been ready constantly to come with changing demands. It requires precise planning to ensure that quality shipments are done and completed on time. This holds from the point of selection of fabric made in USA, up until the delivery of products. Brands lose around $642 billion from returns alone, which is why AI based scheduling and planning are such a good idea. Brands employing this can use optimization algorithms which enable better planning that balances materials, resources, and quantities.
In other words, AI has what it takes to drive improvements in a range of areas, including inventory management, design automation, and production planning, by laying a groundwork for transparent decision making.
