Why 3P Services are Becoming the Answer for Increased Agility
Before everyone talked about being more agile. Today it’s a mandate for both buyers and suppliers.
The theory is easy to understand. The implementation is where it gets tricky.
For years the apparel supply chain has eschewed using 3rd party service providers preferring to do as much as possible in-house.
That’s no longer possible. Even enterprises are feeling the pressure to not only reduce costs and be more flexible, but also for added expertise.
That’s where smart companies are starting to see opportunities in working with specialists who can provide services on-demand.
This is not about ‘outsourcing’. It’s about strategically partnering with individuals or companies who have deep expertise or access to resources that can enhance your overall operations.
Aside from potentially reducing capital expenditure, companies get the flexibility to scale up or down in line with their business requirements.
5 Benefits; 3 Potential Pitfalls
Logistics headaches are going from bad to worse as shortages include both equipment and labor.
LOGISTICS
- Transpacific prices climbed dramatically this week, driven by the continued strong demand and boosted by the lead up to Chinese New Year (CNY) in February.
- Prices from Asia to North Europe and the Mediterranean climbed at a more moderate, though both are well above $7,000/FEU before surcharges that make the actual cost much higher.
- Capacity on these lanes is essentially booked up until after Chinese New Year.
- Shippers of low margin goods are reporting being priced out of the market, and delaying shipments till after Chinese New Year.
PODCAST
The Advantage of Utilizing Both People and Technology
As Regional Director of Asian Sourcing for Liverpool Department Stores, Dr. Stephen Patton played a pivotal role in helping his company successfully navigate through the pandemic, thanks to his adept management of his supply chain.
Here’s how he combined people with technology, and his vision for the unique role each will play.
SUSTAINABILITY
Sustainable Chemistry for the Textile Industry (SCTI) is a new collaboration amongst some of the leading chemical companies to develop global standards for sustainable chemicals, as well as tools by which to measure sustainability.
The LYCRA Company has received Material Health Certificates at the Gold Level by the Cradle to Cradle Products Innovation Institute for 25 of its products. READ MORE
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