Three-year plan - Li & Fung

Our strategy

Three-year plan

We are facing an era of exponential change. The convergence of technologies has changed the way consumers and businesses interact

Data-driven insights allow us to better predict and interact with customers faster and more creatively. Today’s consumers are always connected, time starved and experience driven – while demanding greater transparency and sustainability.

Against this background we launched our Three-Year Plan for 2017 – 2019. Our vision is simple but bold: we aspire to create the supply chain of the future to help our customers navigate the digital economy. To get there, we are focused on speed, innovation and digitalization of the supply chain.

Speed

Speed is the first thing our customers demand from us to stay competitive. To help them succeed, we are focused on strategic investments to leverage new technologies, optimize processes and connect-the-dots of our supply chain.

Speed is about better serving our global brand and retail customers enabling them to reduce production lead times and increase speed-to-market, making decisions closer to time to market, enabling them to create on-trend products that delight their end-consumers and sell at full prices with lower mark-downs.

Our ability to facilitate speed and capture its benefits is a major part of the transformation of our business. We are spearheading the use of technology to 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 are key.

We want to enable speed in the supply chain like never before.

Innovation

Mobile-enabled, mass-customized products and services are the new norm. Brands and retailers are challenged to respond rapidly to changes in consumer expectations.

Through customer collaborations, crowdsourcing ideas and technology partnerships, we’re developing new products and solutions to help our customers meet these 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 retailers and suppliers creates an opportunity to explore new business models with traditional and non-traditional partners.

To innovate at today’s speed-oriented pace requires openness and humility. We’re using open innovation, looking inside and out, to find new ideas and collaborating with partners who have the capabilities, knowledge and platforms to help. We’re taking advantage of specialization and multiple points of view and empowering our people to be innovators, connecting them with other communities of innovators. We’re even redesigning our work spaces to become more flexible to promote sharing, fluid project management 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 and customer success along the way.

Digitalization

Digitalization is about creating the future of end-to-end digital supply chains. It means transforming all elements of the supply chain and analyzing the data to provide valuable insights and creating an ecosystem that makes us unique for our customers.

As consumers become ever more digital, our industry’s supply chains must be upgraded. We are leading the effort to digitalize our global supply chain, resulting in an end-to-end stream of synchronized supply chain data. Advanced analytics will allow us to improve speed, cost, lead time, working capital, inventory, sustainability and traceability for all the partners in our ecosystem.

The supply chain of the future is a multidimensional world where brands, retailers and suppliers, can seamlessly connect to an ecosystem of digital services and data insights that was never possible until now. We want to deliver 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 a platform designed to enable smarter, faster and more effective decisions.

This is the future of supply chains.