Under the influence of the epidemic, the global textile industry is entering a new normal of development. Recently, at a video meeting of the Board of Directors of the International Textile Manufacturers Federation (International Textile Federation), participants pointed out that the spread of the epidemic has exposed the vulnerability of the global textile industry to supply and demand shocks, and both upstream and downstream companies are aware that they must adjust their procurement and production strategies. to reduce the risk of such events. The textile supply chain of the future will be less centralized and more regional. Supply chains will no longer tend to be optimally configured but will be more robust than they were before the pandemic. At the same time, the supply chain will be more demand-driven, requiring brands/retailers and manufacturers to have more flexible interactions, closer collaboration and more transparency.
China is the first country to be hit by the COVID-19 epidemic, and it is also the first country to lift partial blockade and restart development. “In response to the realistic pressure after the restart, Chinese textile and apparel companies are actively innovating and practicing.” Sun Ruizhe, vice chairman of the International Textile Federation and president of the China Textile Federation, said that with the gradual resumption of work and production, Chinese textile and apparel companies have completed the orders in hand in an orderly manner. production and delivery, and gradually arrange new production tasks. Faced with the challenge of insufficient demand, companies strive to tap market opportunities and obtain new orders. Chinese textile companies have generally strengthened the construction of online channels and innovated models such as live broadcasts and cloud exhibitions to make up for the shortcomings of offline channels. Many companies have expanded into the field of health protection products, developed new fiber materials and products with antibacterial, health care and other functions, and switched to producing masks, protective clothing and other epidemic prevention products, and have achieved good profits. Many foreign trade companies actively promote the conversion of export products to domestic sales. At the same time, enterprises have strengthened internal controls, optimized internal management processes and resource allocation, strengthened inventory management and capital chain management, improved operational quality and efficiency, and made good use of the government’s burden reduction relief policies to reduce costs and expenditures. Among them, some companies with core competitive advantages have seized the recovery period after the epidemic prevention and control situation improved, and even found new market space during the epidemic, and their business development has begun to rebound ahead of the macroeconomic situation.
According to the International Textile Federation’s survey on the impact of the new coronavirus epidemic, the global textile companies surveyed expect that their turnover in 2020 will drop by about 30% on average compared with 2019. Although global value chain cooperation is under tremendous pressure during the epidemic, the basic structure and realistic foundation of the world’s textile and apparel industry chain and supply chain cooperation have not changed. Facing a common crisis, most countries have become more willing to strengthen industrial cooperation, and promoting trade globalization and liberalization has become a common aspiration. Sun Ruizhe believes that new cooperative relationships in the global textile and apparel industry will continue to be established, and cooperation in the industrial chain and supply chain will become closer.
This crisis has pushed the development of social responsibility in the industry to a new level. Sun Ruizhe reminded that as a supply department of important people’s livelihood products and epidemic prevention materials, the characteristics of the textile and clothing industry’s value for good and responsible development have been further strengthened during the epidemic. Corporate social responsibility will be accelerated into the industry’s production system and innovation system, and deeply integrated into all aspects of the industry chain, value chain, and the entire life cycle of products and services.
The outbreak of the epidemic has widened social distance and created market isolation. Realistic pressure is forcing global textile and apparel companies to accelerate online and offline integration and promote the digital transformation of resource organization methods and market connection methods. In terms of technological innovation, in the medium term, if companies want to hedge against the impact of the epidemic and create market demand, they need to strengthen product innovation and production innovation with technological innovation to form a supply of “high efficiency, high quality, high responsibility, and low cost”; in the long term, , in order to ensure industrial safety and independence and controllability, the industry’s basic research and original innovation, especially innovations in strategic industry-related fields such as fiber materials and textile intelligent equipment technology, will receive more attention.
In terms of maintaining the stability and security of the global industrial chain and supply chain, Sun Ruizhe suggested that the International Textile Federation should unite its global members, gather global think tank experts and industry leaders, and focus on geopolitics, epidemics, climate change and society Responsibility, digital economy and other global issues that are bringing profound impact and changes to the industry have sent a strong voice of the textile industry to the world, leading global industry companies to join hands in meeting challenges. </p
