Fashion-tech firm Indian Beautiful Art has developed a Just-In-Time technology that can print fabric, make the garment and dispatch it, all within 48 hours
Offloading excess inventory poses a problem for garment manufacturers since raw material is sourced in bulk from multiple vendors through multiple supply chains. This is espeially true for the fast fashion segment where styles and inventories are created weekly, leading to huge stocks of unsold inventory. A fashion-tech company, Indian Beautiful Art (IBA), has now come up with an automated Just In Time(JIT) technology for the textile industry, which helps in producing only what is demanded by the market and controls utilisation of resources along with no dumping of waste fabric or garments. From printing to dispatching the product, the order is managed within 48 hours.
“As CEO of a fashion-tech company, I constantly search for technology innovations that will impact my sector,” says Nitin Kapoor, CEO and co-founder, Indian Beautiful Art (IBA). “The challenge for online and brick-and-mortar stores that sell fast fashion is that they must have a quick turnaround in styles and items and, as a result, are often left with excess stocks. The unsold inventory must then be sold to final discount centres to help offset losses. An indication that this inventory problem is growing can be seen by new companies entering the market specifically to sell excess inventory.”
With JIT in place, the company can ensure that every style and material is always in stock while creating new designs on a daily basis even as stocking inventory is not required. This also ensures that capital is not blocked in unsold inventory. Further, the process is commercially and socially viable as fast fashion has a lot of unsold inventory which ultimately gets dumped in landfills. “So we kind of make the garment after the customer places the order,” explains Kapoor. This business model gives more options to the client when purchasing the product and on the backend, we create the product within 48 hours of receiving the order.”
This way it is a win-win situation for both the customer and the manufacturer as it keeps wasteful expenditure to a minimum and brand value intact as there is no pressure for old stock to be liquidated at throwaway prices.
IBA is fulfilling 10,000 orders a month through the JIT process and saving on costs since it is not an inventory-led model. It has a copyright on the JIT process, which the company believes will help it become a market leader in the domain in the near future.
Currently, IBA makes garments for women in the age group of 20-45. Further with the JIT process, it can manufacture gas-to-offline business model wherein a customer would be able to check the physical sample of the product on the physical store and then order the colour or print by checking the model images.
“With this, there is a greater sense of satisfaction about the material and size as the customer has actually checked it out. Our huge catalogue of colours and prints wearing the same dress would also attract more and repeat customers for new designs which we would be able to create,” Kapoor elaborates.