Jackie Bertram Deputy CEO at Fashion-Enter Ltd held an online masterclass on Wednesday 23rd November on the topic of ‘Sourcing and Supply Base Strategies’. Jackie has worked for some of the biggest UK retailers across merchandising, sourcing and strategy.
It’s never easy to set up your own brand or manage a business, it takes a lot of courage, a little bit of good fortune but there always needs to be a robust plan in place. With this in mind the masterclass started with an overview of retail climate today and explained how those that are doing well are connecting with the customer; whether that be with product, price, values or experience. Being able to source product well and being nimble to support brand growth.
Jackie then explained how a sourcing strategy links to a total business plan, and how it ensures that your brand has direction and allows you to evaluate performance.
The sourcing strategy section then explained some of the key elements to consider when sourcing product from UK or abroad; some of them included; country of origin, supply chains, fabric sourcing, ethics, quality and price. She then continued on to new technologies and manufacturing processes that are revolutionising sourcing and supporting brands to reduce waste and provide personalised product on demand.
The masterclass was full of tips and examples based on Jackie’s experience and it was summarised with the following advice:
- Continue to review your strategic direction – evaluate it
- Reprioritise or realign strategy based on learnings
- Stay close to market intel and customer trends
- Make ESG part of your plan
- Build supplier partnerships with those that hold the same values as your brand
The session rounded off by opening up to attendees with their own business related questions.
“So interesting, thanks Fashion-Enter.”
“Really informative and easy to understand.”
“Thank-you so much, really appreciated.”
For more industry masterclasses tap here.