Success Strategies for Digitizing Your Organization
Almost every company is looking to build digital capabilities that drive customer centricity and productivity. Overwhelming evidence shows that successful digital transformations drive performance and competitive advantage.
The goal is easy to understand, however the implementation is difficult.
Digitization relies on a major initial disruption and transformation of current processes, but the best in class companies continue to tweak, fine tune and adapt so that they remain ahead of the market.
Consultants suggest that companies need to be clear on why they are making this transformation, what they hope to achieve and who in the organization will be responsible for each part of the process.
6 Factors that Boost Success; 3 Core Questions to Ask Before Beginning
While Asian nations were better able to contain COVID cases, Western nations have done a better job at massive vaccine roll outs. Now new COVID outbreaks in Southeast Asia are raising concerns over potential supply chain disruptions.
LOGISTICS
- Ocean rates remain extremely elevated on most lanes, with Asia-North Europe rates climbing 7% to a new high.
- Even with months of peak-level volumes, strong sales are preventing retailers from building inventories, meaning possible holiday season stockouts and elevated ocean rates even once consumer demand cools, according to Freightos.
- Bookings out of China Base ports have surged in the last week as more shippers choose to move volume to where there’s equipmentment, according to Flexport.
- Demand and limited capacity continues to keep air cargo rates extremely high too, with some carriers introducing new peak surcharges to already elevated rates.
PODCAST
How Giordano Successfully Launches in Emerging Markets
Mark Loynd, an Executive Director, General Counsel and Head of Overseas Markets at Giordano talks about how to identify key new markets – and how to successfully establish your brand there.
KEY MARKETS
China’s economic boom has hit a stumbling block, as factory output slowed in April and retail sales missed expectations.
- Industrial production grew by 9.8 percent year-on-year, slower than the 14.1 per cent rebound seen in March, according to the country’s National Bureau of Statistics.
- Retail sales rose by 17.7 percent – missing expectations of a 24.9 percent rise, as consumers spent more conservatively.
- China’s economy expanded by a record 18.3 percent in the first quarter of this year, and is widely expected to grow by around 8 percent for the full year.
The UK is poised for a rebound, according to Bank of England economist Andy Haldane who said the country is like a ‘coiled spring’ ready to bounce back when restrictions ease.
- The economy is expected to grow 7.25 percent this year, according to the Bank of England, meaning it will be back at pre-pandemic levels by the end of 2021.
MATERIALS
Prices for both natural and man-made materials fell slightly this week. However year-to-date prices are showing an upward trend with wool up 11.9% from Jan 1 to this week.
Cotton is up 6.14%, while polyester POY is up about 9.4% and polyester yarn is stable, up 0.9% year-to-date.
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- The Curious Case of Shopify’s Shop App
- A Faster, More Sustainable Asian Supply Chain
- Fashion’s Flight to Quality
- A Supplier That’s Raising the Bar on Human Achievement
- Denim That’s Making a Difference
- Indonesia: Asia’s Next Key Retail Market
