Being a fashion retailer, you may have noticed that your industry is becoming more competitive with the passage of time. With the launch of new brands every and every day in terms of the auditing program. On the other hand, consumers have also become much more demanding; they expect their goods to be of premium quality and free from any defects. In addition to this, they want their products to get them delivered as quickly as possible. It is a somewhat complicated task while keeping the costs as low as possible.
In order to get success in such a highly competitive industry, fashion retailers should give maximum importance to maintaining the reputation of their brand as well as improving their supply chain management. In addition to this, maximum customer retention is one of the biggest challenges that fashion retailers face fashion today.
Supplier Auditing is a key component in ensuring your consumers are satisfied and will return to your brand in the future. By forming a crucial link in your strong quality assurance strategy. A comprehensive and well organized pre-shipment inspection gives you a guarantee. Your seller is qualified to manufacture products that meet your specific requirements.
The quantity you requested, without compromising quality or environmental and social regulations. The retailer must strike a perfect balance to keep all stakeholders satisfied in the business process.
The importance of CNY in fashion retail
The Chinese New Year’s season is the most common time when fashion retailers sell most of their products. One invites you to start your supplier audit program now instead of after CNY vacation. Want to know why?
Here are the top 6 reasons to persuade you:
1- Avoid unnecessary risks
Maintaining a strict examination of your supply chain will provide you with multiple benefits. One of the most crucial is being able to avoid all the risks in relation to the delay in delivery. Or any other supply chain disturbances that could affect your business adversely.
2- Auditing at the factory at the highest levels of production
If you want to make a true assessment of the ability of your suppliers in order to meet your production needs. It will be the best time to do this before CNY when most factories produce at the best possible levels.
3- Study the sustainability of your
supplier management system
If the production plant is not working at its peak. You will not be able to evaluate whether your supplier can work efficiently under maximum pressure. Just before CNY, the productivity of the production plant is usually highest. You are able to fully evaluate the effectiveness and sustainability of the management system. It is being used by your manufacturer under difficult deadlines.
4- Make sure your supplier adheres to local and international regulations
Fashion retailing is an increasingly global business nowadays. Any harm or damage to its reputation will have an impact worldwide on consumer perception. Therefore, it is quite crucial. Your supplier is fully compliant with international and domestic regulations as well. As your business grows, the supplier workload must increase.
5. Establish any corrective measures necessary for post-CNY production
If your supplier’s audit encounters any problems inside the manufacturing factory. This would give you a great opportunity so as to correct these flaws. In order to make sure post-CNY production meets with your quality regulations and expectations.
6- Maintaining long-term relationships with your supplier
A regular review of the supplier shows your commitment to maintaining a long-term relationship with your manufacturer. The main component of the auditing process is to carefully identify any potential defects in the entire production cycle that can easily be fixed by the supplier; this process actually benefits you, being a fashion retailer, as well as the manufacturer. You get maximum benefit owing to increased quality of product and supplier benefits by avoiding the costs of rework or repair which is associated with lower quality of the products.