STORES Convention Daily - 2018 Big Show Day 3 - 8
2018 TUESDAY
8
So You've Tackled Supply Chain Costs - What About Speed?
I
magine the scenario: Taylor Swift which can make the production cycle
wears a red dress on Instagram that even slower. But what if, Fung asked, a
receives a flurry of likes, and the entire production cycle could go from 40 or 50
supply chain is triggered into motion. A weeks to, say, 15 or 20?
digital sample of a similarly likeable item
With today's speed of change, "You can
is produced within hours; it's posted on no longer really have this really long supply
the retailer's website and promoted to chain where you have to make a decision
consumers before a physical sample is even today for what might sell or might not sell
made; clickthrough
in 50 weeks' time,"
velocity allows prehe said. "We've seen
"We've seen this huge
dictions about how
this huge shift in the
shift in the last 12-18
many can be sold;
last 12-18 months
and the design goes
where almost every
months where almost
to a pre-approved
one of our customevery one of our
factory with availers is talking about
customers is talking
able fabric and is
speed rather than
about speed rather
shipped from the
cost." And most of
than cost."
factory to the conthe low-hanging fruit
sumer within a
in speeding things
- Spencer Fung,
handful of days.
up, he said, is found
Li & Fung
"This is what's
in the supply chain.
going to be posAs part of the
sible," said Spencer Fung, CEO of Li Monday afternoon session "Creating
& Fung, "when you create the supply the Supply Chain of the Future," Fung
chain of the future that is all digitally showed a cartoon that stays in his conconnected, with speed, run by data, where sciousness: It pictures a rabbit and turtle
there's an ecosystem of partners that work racing toward the finish line. Here, howseamlessly together."
ever, the turtle is wearing a jetpack, flying
Historically, talks about supply chain overhead.
have been about cost. That often has
There are obvious questions about
meant moving farther and farther out, whether each company is a turtle or a
Spencer Fung, CEO of Li & Fung, speaks to Fortune's Phil Wahba.
rabbit, he said. Consumers are rabbits.
Some tech companies are rabbits. But
more traditional companies, as turtles,
are having trouble keeping up.
The ultimate question, however, is
this: "Is it enough to be a faster turtle?"
Fung, who began his career at PwC
in Boston, spent time as a rabbit while
starting his own ecommerce company in
Silicon Valley. He then joined the more
than 100-year-old family company, the
Fung Group. That organization, engaged
See "Supply Chain" on page 30
http://multidev.com
http://chaindrive.com
Table of Contents for the Digital Edition of STORES Convention Daily - 2018 Big Show Day 3
STORES Convention Daily - 2018 Big Show Day 3 - 1
STORES Convention Daily - 2018 Big Show Day 3 - 2
STORES Convention Daily - 2018 Big Show Day 3 - 3
STORES Convention Daily - 2018 Big Show Day 3 - 4
STORES Convention Daily - 2018 Big Show Day 3 - 5
STORES Convention Daily - 2018 Big Show Day 3 - 6
STORES Convention Daily - 2018 Big Show Day 3 - 7
STORES Convention Daily - 2018 Big Show Day 3 - 8
STORES Convention Daily - 2018 Big Show Day 3 - 9
STORES Convention Daily - 2018 Big Show Day 3 - 10
STORES Convention Daily - 2018 Big Show Day 3 - 11
STORES Convention Daily - 2018 Big Show Day 3 - 12
STORES Convention Daily - 2018 Big Show Day 3 - 13
STORES Convention Daily - 2018 Big Show Day 3 - 14
STORES Convention Daily - 2018 Big Show Day 3 - 15
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STORES Convention Daily - 2018 Big Show Day 3 - 18
STORES Convention Daily - 2018 Big Show Day 3 - 19
STORES Convention Daily - 2018 Big Show Day 3 - 20
STORES Convention Daily - 2018 Big Show Day 3 - 21
STORES Convention Daily - 2018 Big Show Day 3 - 22
STORES Convention Daily - 2018 Big Show Day 3 - 23
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STORES Convention Daily - 2018 Big Show Day 3 - 27
STORES Convention Daily - 2018 Big Show Day 3 - 28
STORES Convention Daily - 2018 Big Show Day 3 - 29
STORES Convention Daily - 2018 Big Show Day 3 - 30
STORES Convention Daily - 2018 Big Show Day 3 - 31
STORES Convention Daily - 2018 Big Show Day 3 - 32
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