Smart Sourcing for High Sell Through Rates

Pawan is the Co-Founder and CEO of Fashinza, building the future of fashion manufacturing industry using data and cloud that is more sustainable, ethical, inclusive, fast, and efficient. Fashinza is funded by leading VCs, Accel Partners (Facebook, Slack, Flipkart) and SAIF Partners (PayTM, Swiggy).Previously Pawan co-founded Curofy, which is today India's largest network of Doctors in India with over 50% of Indian doctors discussing patient cases with their peers to provide extremely quick and better diagnosis to their patients. Curofy was VC funded and got acquired by a large US corporate, Edifecs in an all-cash deal in 2017.Pawan is a mission driven entrepreneur who believes in using technology and entrepreneurship to bring meaningful change in the lives of the most needy. He was part of Forbes India's 30 under 30 in 2018, Rising Stars by Bloomberg TV, and Young Turks by CNBC. He has also written guest columns in leading publications and has spoken at global events.

The pressure exerted by Amazon and Chinese DTC brands in terms of price is a result of others being slow in reinventing themselves. Most of the US and European brands procure from China or other low-income countries so it’s not like they are purchasing the same products at a higher price. The innovation these DTC brands from China are doing is reimagining the inventory cycles. Most of the brands in the US and Europe still take 9–12 months to get their product from thought to the shelf which Shein for ex does in 2 weeks. Shein’s procurement cost is actually slightly higher because of lower MOQs but they still end up making higher profits because their liquidation is extremely low while providing 1000s of new designs to their customers every day.
For brands to succeed in this environment, they need to work on digitizing their supply chain, making it faster, using a lot of data science to take inventory-based decisions, and reimagine processes for speed. Would you believe that even in the face of this competition brands still spend months in a 6 step sampling process while Shein doesn’t even do a single sampling step and relies only on technology, experimentation, and empowering their suppliers.
‍
Come to this session to learn how do smart source for his sell through rates.
‍