As a fashion retailer, you may have noticed that not only is the industry becoming more and more competitive. With new brands launching every other day in terms of audit program.
But also that the consumers are becoming highly demanding; they expect their products to be of high quality, free of any kinds of defects. But also delivered to them as quickly as possible. A rather complex task to achieve while keeping costs low but profitability high.
In order to succeed in this highly competitive industry. Fashion retailers must attach the utmost importance in maintaining their brand reputation as well as optimizing their supply chain. Keeping in mind that customer retention is one of the biggest challenges that fashion retailers are facing nowadays.
Supplier Audit
A supplier audit program is an integral ingredient in making sure that your customers are satisfied. And return to your brand. By forming an important link in your robust quality assurance strategy. A thorough supplier audit program gives you the assurance. That your vendor is qualified to produce goods that meet your requirements.
In the quantity that you have ordered, without compromising on quality or social and environmental regulations. A fashion retailer must strike an optimal balance to keep all stakeholders satisfied in his business process.
Importance Of CNY In Fashion Retail Business
The Chinese new year peak season is one of the most happening times for a fashion retail business. One that calls for you to initiate your supplier audit program now instead of after the CNY holidays. Want to know why?
Here are six reasons that will convince you.
6 Reasons Why You Should Carry Out A Supplier Audit Program Before The Chinese New Year
1- Avoid unnecessary risks
Keeping a stern check on your supply chain is something that will yield you with multiple benefits. One of the most beneficial being able to avoid risks related to delayed delivery. Or any other potential supply chain disruptions that might result in adversely impacting your business.
This will inevitably save you time and money in the long term. So think of regular audits as an investment in your business, rather than an additional cost.
2- Audit when the factory is at its highest production levels
If you want to truly assess how well your supplier is able to meet your requirements in production. The best time to do it would be before CNY, when most factories are producing at their highest possible levels.
This occasion will enable you to fully check all the production lines, product quality. As well as the machines and equipment to make sure that they are fully operational. And able to meet all deadlines without compromising on quality.
3- Examine the sustainability of your supplier’s management system
If the factory is not operating at its peak level. You would not be able to assess whether your supplier is able to work efficiently under pressure. Right before CNY, factory productivity is usually the highest. And you are able to fully assess the sustainability and effectiveness of the management system. Used by your supplier in under difficult deadlines.
If your auditors feel that the management system is inadequate, you may raise your reservations at the right time. These may be related to the supplier’s process control, workload management. Or employee behavior towards maintaining quality- all of which might pose potential threats to the quality of your business.
4- Make sure that your supplier is in compliance with local and international regulations
Fashion retail is an increasingly global business. Any damage to its reputation will have worldwide impacts on consumer perception. It is therefore extremely important. That your supplier is in complete conformance with not only local but international regulations as well. As your business grows, the workload on your supplier is also bound to increase.
However, it is still your responsibility to make sure that the supplier does not have a deterioration. Thus the time before CNY is a great chance to assess these factors. When the factory is operating at its peak level.
5- Set up any corrective measures necessary for the post-CNY production
In case your supplier audit comes across any problems within the factory. This would give you a great opportunity to correct these defects. In order to ensure that post CNY production is in-line with your quality expectations and regulations.
This would give you a great opportunity to correct these defects. In order to ensure that post CNY production is in-line with your quality expectations and regulations.
6- Maintaining long-term relationships with your supplier
A regular supplier audit shows your commitment to maintaining long-term relations with your supplier. The essence of the audit is to pinpoint any possible defects in the production cycle that can then be fixed by the supplier; this process benefits both you, as the fashion retailer, as well as the supplier. You benefit due to increased quality of products, and your supplier benefits by avoiding rework or repair costs that are linked to low-quality products, as a result of inefficient production management.
ATI provides you with an expert team that helps you carry out an annual check of garment suppliers. So that your fashion retail brand flourishes and brings you greater customer satisfaction.
It also helps you uphold your brand reputation- a necessity for any fashion brand. Regular checks also aid in providing you with greater control over your supplier’s performance, thereby protecting your investment even more.