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The Centre for African Fashion Education and Technology (CAFET) in collaboration with Accion Microfinance Bank, recently organised business essentials training for Nigerian fashion SMEs to navigate the complexity of the fashion supply chain industry.
The business essential training was aimed at addressing the unique challenges faced by Nigerian fashion SMEs, which was led by industry experts Eme Bassey and Lanre Shonoiki, proved to be a pivotal moment for 20 participating businesses. The training sought to equip entrepreneurs with the tools and knowledge needed to navigate the complexities of the fashion industry. The training focused on the fashion value and supply chains.
Earlier, Eme Bassey and Lanre Shonoiki, Partners at CAFET, brought their wealth of experience to bear, dedicating over 10 hours to lectures, interactive sessions, and case study reviews. They unpacked the five stages of the fashion supply chain: Sourcing, Design and Development, Production, Marketing, and Retail, each organised along the value chain segments of Input, Manufacturing, and Output.
While recognising the inherent challenges of the fashion supply chain, the training applied Lean Philosophy to the value chain, emphasising efficiency along the supply chain. This approach was inspired by the complexity of the fashion supply chain, even in a functional economy. However, the additional challenges in the Nigerian context underscored the critical need for efficiency.
Participants, representing diverse fashion businesses, shared specific challenges they were facing, ranging from unreliable material supply to issues related to labour quality and limited access to quality production.
In response, the CAFET team provided practical strategies to enhance efficiency along their supply chains. Techniques included leveraging trends and data to guide inventory levels, adopting modular designing to shorten design and development cycles, and advocating for specialisation in small-scale production to minimise bottlenecks.
The training stressed the need to create value as a path to growth in the fashion industry. The CAFET team outlined three types of value: commodity value, perceived value, and social value.
Participants were guided through steps to create value in each category, such as sourcing unique inputs through local artisan partnerships, engaging loyal customers in the product development process, and implementing quantity-limited releases for exclusiveness.
The concepts were reinforced with real-world case studies featuring successful brands. The training underscored the importance of these success stories in providing tangible examples of how businesses can effectively create and capture value in a challenging market.
Throughout the training, core themes of technology, education, and collaboration were emphasized as sustainable paths to efficiency and scale for African fashion businesses. Participants were encouraged to embrace technology as a tool for streamlining processes, invest in ongoing education to stay abreast of industry trends, and foster collaboration within the industry for mutual growth.
As the two-day training ended, participants reflected on the invaluable insights gained. Many expressed delight at the new perspective they had acquired on their businesses and the broader industry. For some, it was a first-time experience of gaining a top-down view of their industry, complementing their existing knowledge and providing a three-dimensional frame for better business decision-making.
Reflecting on the event, Eme Bassey, Partner at CAFET, highlighted the need for education in improving the African fashion value chain. “Fashion is such a complex industry that many problems along the value chain need to be solved in lockstep. Education is one of the tools we use to solve these problems. We are working on future iterations of our trainings to go deeper into the application of technology in solving problems in fashion,” Bassey said.
On his part, Chief Digital Officer at Accion MfB, Mr. Paul Ehiagbonare, expressed appreciation for the training and anticipated continued collaboration between CAFET and Accion MfB. CAFET pledged ongoing support for selected businesses in the near future, adding that this commitment involves assisting participants in implementing the lessons learned during the training, ensuring that the newfound knowledge translates into tangible improvements within their businesses.
(leadership.ng)
