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Fashion is an interesting industry to study because, in addition to estimates that it has a $2.5 trillion global impact, it is one that depends on other large, global industries. For example, agriculture for cellulosic fibers; material science for creating synthetic fibers; manufacturing for creating finished products; logistics for getting the finished products to end-use customers; retail for selling to consumers; and energy for powering all activity within the industry’s value-chain, from end to end.
According to a February 2019 report, “The Economic Impact of the Fashion Industry,” by the U.S. Congress Joint Economic Committee Democrats, “The twin forces of technology and globalization have had enormous ripple effects in the fashion industry, similar to many other industries, and [have] created new trends, challenges and opportunities. The impacts of social media, new business models, advanced manufacturing, and changing demographics are leading to significant changes in all aspects of the fashion industry with the potential to reshape it for years to come.”
In this installment of the AI in Supply Chain series (#AIinSupplyChain), we explore how two different early stage …
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