The new ‘TexTech’ (Textile Technology) innovation will transform the industry while addressing the biggest challenge of ‘warehousing & stock keeping’
Like many other new age entrepreneurs, Mr. Nitin Kapoor decided to solve a ‘big problem’ but unlike many, he has chosen a complex ‘Textile’ industry. He achieved a breakthrough with his new ‘Just in Time’ technology which he integrated in his venture, IBA (Indian Beautiful Art), which is one of the major players in the US$ 70 billion Indian fashion e-commerce industry with a whopping revenue of US$ 5 million and a customer base of over 500,000 in around 136 different countries.
Decoding the complex issue of ‘Stocking/Inventory’ in Textile industry, Mr. Kapoor introduced JIT – A new tool in TexTech (Textile Technology). The technology deals with the ‘demand oriented production’ methodology with an objective to produce what is demanded by the market and control utilisation of natural resources along with no dumping of waste fabric or garment.
The problem is being solved in two parts, Instead of getting prints of the photoshoot, images on the clothes are tested using technology. This effectively cuts the cost of photoshoot production and creates a single prototype for various patterns of the same garment. The colours and designs can be changed directly with sizes till 5 XL, saving time and resources. Secondly, it is assisting in compliance of energy, water and environment conservation: With JIT, the garment is only manufactured once the customer has placed their order. Right from printing to dispatching the product, the order is managed just within 48 hours with ‘Zero’ wastage of natural resources.
With ‘JIT’ there is no warehousing cost involved which is the biggest problem of all the online and offline brands. We at ‘IBA’ believe that sustainability has to be rooted in the DNA of the brand and communicated entirety to the consumer. With JIT the final cost of the output is minimal as the inputs cost is very less.
The Textile and apparel exports from India will reach to US$ 82 billion by 2021. It is believed that the future for the Indian textile industry looks promising buoyed by both strong consumption as well as export demand. JIT has advantages for both; consumers as well as business owners. It’s a technology that will keep your stock alive and kicking – always trendy, always sturdy, always rocking and always knocking.