The Business of Fashion Podcast Building Smarter, More Sustainable Supply Chains | Retail Reborn Episode 2
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Sep 22, 2020 In this discussion, John Thorbeck, Chairman of Chainge Capital, and Dio Kurazawa, co-founder of The Bear Scouts, delve into the urgent need for more sustainable supply chains in the fashion industry. They advocate for innovative strategies and the integration of eco-friendly materials to combat environmental degradation. The conversation highlights the challenges faced by garment workers and the industry's transparency issues compared to the food sector. Ultimately, they stress the importance of rethinking capitalism to prioritize both people and the planet.
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Nike's Arbitrage
- Nike gained a cost advantage by moving production to Asia before competitors. This arbitrage has shrunk, necessitating a new source of advantage.
- The new arbitrage lies in speed and flexibility, not just total cost.
Digitization for Speed and Flexibility
- Digitize the right processes for speed and flexibility, not just for visibility or connectivity.
- Learn from Zara's risk management through speed and flexibility, but don't simply imitate them.
Fashion's Design Mistake
- The fashion industry faces a design mistake: extracting resources, using toxic materials, and disregarding planetary boundaries.
- Shift to materials that don't require fertile soil, fresh water, or pesticides.
