While fabric for a garment typically comes from one supplier, accessories are often sourced from multiple suppliers. Searching for these accessories can be tedious. Lead times are long. Error rates tend to be high.By using data and standardized processes, Shanghai-based accessories platform, Fuliaoyi, facilitates accessories sourcing by matching customers, stock-keeping units, or SKU, and suppliers to meet customer needs quickly and accurately. The more interactions with customers, the more accurate the data and the higher the degree of standardization.Fuliaoyi provides one-stop supply of accessories to China’s domestic apparel brands, with more than 3,000 suppliers, and maintains long-term customer relationships with over 5,000 apparel brand customers.China's garment accessories account for an estimated 60 percent of the global market, a market valued at US$27.6 billion (RMB180 billion) per year. Garment accessory orders feature diverse styles, large batches, fewer items per batch and quick delivery. The pressure is rising as brands seek to roll out more styles, shorten delivery cycles and move towards small volumes of customized apparel. Flexible supply chains will become the segments with the greatest value within the apparel sector. In the beginning ...Founded in 2016 by Jiang Zhiyan, CEO, Fuliaoyi now collaborates with over 10,000 clients and more than 1,000 suppliers.Fuliaoyi started to build its digitized platform by first creating several industry standards to synchronize both upstream and downstream chains to achieve smart matchups. It also realized on-time inquiries and transparency in the procedures from placing orders and procurement to shipment and logistics tracking to accelerate precision deliveries.In March 2018, the platform was able to raise $15.8 million in A and A+ financing. Investors included MatrixPartners China and Eastern Bell Venture Capital, according to Yicai Global.This month, it closed its B and B+ round of financing raising $15 million, led by Lightspeed China Partners, followed by the platform’s existing shareholders Matrix Partners China and Eastern Bell Capital, and others, according to Pitch Book. Not Just Another Digital PlatformFuliaoyi is one of the few cross-genre one-stop platforms in clothing supply chains in the current market, and the platform’s teams did well in building digitized, visualized products and client-service capabilities, according to Herry Han, founding partner of Lightspeed China Partners. The platform has helped build flexible supply chains in the garment sector via a smart, digitized platform, and based on its profound knowledge of the accessory industry, to facilitate the growth of China’s ‘fast-fashion’ brands, he told Yicai Global. Investing in Better and FasterGoing forward, Fuliaoyi will focus on building up a service system whose entire processes are visible to enhance the efficiency of both matchups and production on the supply and demand sides, as well as focusing on smart and ecological construction of flexible garment supply chains after the completion of this round, said Jiang Zhengyan. The platform will also finish the smart upgrade of its systems, expand its market and supplement its talent.