Sustainability is a big issue in the fashion industry. It emits a lot of carbon dioxide (CO2) - around 2.1 billion tons every year. This number is expected to go up by a third by 2030. Many people in the industry know there is a problem, but they don't have the tools to measure and track their environmental impact and sustainability efforts. Consumers want sustainable products, and governments are making laws to reduce emissions and improve transparency. Fashion brands, manufacturers, and retailers need to find ways to be more transparent, reduce waste, choose greener materials, and measure their progress towards sustainability.
They need to stay ahead of the changes in regulations and understand what they should be measuring and improving. Technology is crucial for measuring environmental, labour, and financial practices. Most businesses use software called Product Lifecycle Management (PLM) to manage their operations efficiently, but these systems often don't have tools to support sustainability. However, some solutions like Centric PLM provide a central place to store, manage, and measure all the information related to products.
By using a "single source of truth" approach, brands can easily track and report important sustainability metrics like CO2 emissions, water usage, and material choices. This information helps them make changes to meet legal requirements and provide transparency to conscious consumers who care about the environment. Investing in technology also helps with ethical product development. Consumers want to know how their products are made, so fashion brands are interested in finding sustainable materials.
Technologies like PLM software make it easier for designers and product developers to research better materials, work with suppliers, and find creative solutions to sustainability challenges. It also helps with planning products carefully from the beginning to the end and brings transparency to the sourcing process. Ethical sourcing includes things like fair labour practices, reducing pollution, and considering animal welfare. PLM solutions help manage supplier documents, track raw materials, conduct factory audits, and collaborate with suppliers from the early stages of product development.
Investing in digital transformation not only helps with sustainability but also brings other benefits like better planning and increased sales. While it can be challenging to keep up with changing consumer demands and regulations, using technology effectively gives companies an opportunity to navigate these challenges and stay ahead of the competition in the long run.
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