Quick response to the market motivates new business models
With the fundamental changes across the board within the international market, the companies’ responsiveness to the market’s requests may be a decisive element to assure relevant competitiveness benefits.
The Footwear Technology Centre of Portugal (CTCP) leads a project, which aims to assure a quick response to the trends and preferences of the consumers towards fashion articles, through the analysis of the stores’ interaction and sensors and the development of new materials, footwear and technologies. The project Fashion-Cognizant-Manufacturing (FASCOM) promotes a new cycle for conception, design, manufacturing and sale of fashion articles, based on monitoring, extraction and sharing of information along the value chain about the trends and preferences of the customers in stores.
“In making such information available from the point of view of sales reduces costs and increases sales by promoting the development and the manufacturing of products, which best respond to the customers’ preferences”, highlighted Leandro de Melo. For the General Director of the Footwear Technology Centre, “in this cycle is included the logistics (reduction of stocks along the supply chain, lower losses in sales, greater supply chain management ability) and marketing (better market segmentation, data over the acceptance of articles, planning and implementation of promotions)”.
This project will even have a greater potential within the footwear sector, since “it includes the conception and development of a new concept of footwear production, new materials, customized footwear products and manufacturing technologies”. Furthermore, the matters of conception, manufacturing and distribution are managed by separate companies. This way, “it allows the trademark holder and the manufacturar the access to the information collected at the stores (information that is considered relevant and in the terms and conditions agreed between the parties, of course). This access is vital to the conception of new products, as it is to the production management and marketing campaigns”.
This project has the footwear factory Sozé as the leading promoter but involves other entities such as CEI, Inovretail and Inesc Porto.