We are focusing on three strategic priorities to evolve quickly and compete more effectively in this rapidly changing environment.
Speed is the first thing our customers look to us for to be competitive. To help them navigate today’s ever-faster world, we remain focused on strategic investments that leverage new technologies, optimize processes and connect the dots of our digital supply chain. We aim to decrease lead times and increase speed to market for the global brands and retailers we serve.
Speed is about better serving our customers in ways that reduce their production lead times and improve speed-to-market so they are successful and continue to delight their end-consumers.
Our ability to facilitate speed and capture its benefits is a major part of the transformation of our business. We are also spearheading the use of technology to upskill and create an agile workforce that can operate efficiently, and driving innovation through projects and new ways of working. Data-driven insights, process optimization, transparency improvements and workspace reorganization will be key so we can meet the challenges of today's fast-changing world.
Our hope is to enable speed in the supply chain like we’ve never experienced before.
Mobile-enabled, mass-customized products and services are the new normal for consumers. Retailers and brands are challenged daily to respond to these changes in consumer expectations. We’re enabling this through external and internal collaboration. Through customer collaborations, crowdsourcing and technology partnerships, we’re developing new products and services in line with our customers’ needs to meet their consumer expectations.
We sit at the center of an increasingly digitalized supply chain. Our access to data across the supply chain as well as new ways of working with customers and suppliers is creating an opportunity for us to explore new business models with traditional and non-traditional partners.
To innovate at the rate needed today requires openness to new ideas, people and knowledge. We’re using open innovation to find ideas as well as technology and partners to create the future supply chain. We’re looking inside and out to surface new ideas. We’re collaborating with partners who have existing capabilities, knowledge, platforms and technologies to take advantage of specialization and multiple points of view. We’re empowering our people to be innovators through crowdsourcing, connecting them with communities of innovators and to external ideas, knowledge and people. We are even redesigning our work spaces to be more flexible to promote idea sharing, fluid project management practices, and a flat structure for all colleagues across our global network.
Success for us is the ability to innovate with agility while creating new businesses along the way.
The Supply Chain of the Future is a multidimensional world where brands and retailers, and vendors and suppliers can seamlessly connect into an ecosystem of our digital services and data insights that was never possible until now. Our ambition is to reach a state when we are delivering predictive analytics to enhance the business performance of our customers and partners. Li & Fung’s integrated digital platform has been built to capture and share data across the entire value chain, and the result will be an engine designed to enable smarter, faster, and more effective decisions. This is the future of supply chains.