While brands have successfully gotten rid of last year’s inventory stockpiles, the pipeline is not completely clear yet.
At the same time, consumers are increasingly uncertain about the economy, which along with inflation is impacting purchasing decisions.
The focus will be on just-in-time, speed, and trying to find ways to build a consumer centric supply chain.
LOGISTICS
Transpacific volumes are continuing to decline – with fading prospects of rebounding in the near term, per Port of Los Angeles data and multiple industry analysts.
Hopes for a rebound in ocean demand in time for peak season may have dampened a bit this week as major retailers like Nike and Adidas reported that they are still coping with inventory surpluses built up over H1 of last year, per Freightos.
Widespread logistics worker strikes in Germany disrupted operations early this week, while in the US shipper groups are calling for the White House to intervene in stalled West Coast port labor union negotiations, per Freightos.
Rates from the Indian Subcontinent to the US continued to decline on weak import demand, per Flexport.
Freightos Air Index data show ex-Asia air cargo rates to Europe and the US are more than 20% lower than a month ago as weak demand persists.
- Prices to the US of $3.28/kg are more than 70% lower than a year ago.
- Rates to Europe are $3.53/kg, 46% lower than this time last year.
More logistics developments. Read More
MATERIALS DEVELOPMENTS
Make It Personal
Personalization is at the forefront of every apparel category. Now the challenge is to find trims that can offer both customization and performance – especially for garments that are meant to be worn for outdoor sports – or even for workwear.
6 Trim Developments for Activewear
PODCAST
An Easier Way Build Process Documentation into Your Business
Most companies don’t realise how many processes are part of their day to day business.
That is until we need to onboard a new team member or even do a task or operation that we haven’t done for a while.
The solution is documenting each process.
The challenge is actually getting team members to do this – not just once, but to continually update the documentation so that it is current and accurate.
In this episode Owen McGab Enaohwo, CEO & Co-Founder of SweetProcess, explains how to get leadership and team members to more easily document processes that drive their business.
What You’ll Learn:
- How to make process documentation ongoing – without interrupting your workflow.
- Why a collaborative approach to documentation can improve both documentation and the processes themselves.
- How prioritising process documentation can help companies build much greater efficiency – without having to invest a lot of time or money.
TRADE AGREEMENTS
The UK is poised to join the 11-member CPTPP trade pact, giving it access to a $10 trillion market. The move is part of the nation’s post-Brexit realignment on the global stage.
MARKETS
The Reserve Bank of India is expected to hike rates a further 0.25% at its April meeting, taking rates to 6.75% as inflation remains above the top of the upper target band (6%) and core rates of inflation also remain elevated. However, this might be the last hike in this cycle as inflation is forecast to drop sharply in March, per ING Economics.
German inflation fell to 7.8% in March (from February’s 9.3%), mainly driven by lower energy prices, according to Destatis, the federal statistical agency.
Spain’s core inflation (exceeding energy and fresh food) remained at 7.5% in March.
MATERIALS
Materials prices started to inch up during the week with polyester POY up 2% and cotton up over 6%. However, yarn prices remain flat.
You can find Month-on-Month and Year-on-Year prices here.
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