The Fashion Tech Stack Series Part 1: What is a Fashion Tech Stack?
Image source - https://distantjob.com/blog/best-tech-stack/
A Technology Stack or Tech Stack is a combination of tools that a company uses to run an application or project. Essentially, it is the combination of software that keeps your business running.
A good tech stack will give your business the flexibility to grow, and add more functions and processes without compromising the overall efficiency and productivity of the business. The right tech stack can make businesses run smoothly and efficiently with the least amount of hassle. At the same time, the wrong choice of tech stack can make it difficult to change even the smallest process in the business, creating poor experiences for customers and costing the company significant revenue and profit through lost efficiency and productivity.
Since the advent of software systems, companies have relied increasingly on technology to keep businesses running.
In the early days, companies bought certain systems which they felt would meet the needs of the business. Today, these are known as Legacy systems. Most of the systems become outdated with time and need to be replaced with better, faster more versatile systems that can meet the needs of modern businesses. However, since legacy systems are so ingrained into the company’s working culture, they can be difficult to replace without significant cost and manpower effort. In the past, some companies simply added more functions to the legacy system to cater to the added requirements, on an incremental basis. However, this makes the system more inflexible and difficult to replace as time goes by.
Some companies with unique processes or needs may choose to develop their own unique systems to address their needs. These are known as in-house systems. The two terms, legacy and in-house are not necessarily separate. Some companies which have legacy systems also add custom-built modules on top of the original to address their business requirements, creating legacy in-house systems.
Many technology products have been created to deal with different aspects of business, such as Product Lifecycle Management (PLM), E-commerce, Supply Chain, Data Management and Analytics, Payments, Delivery, Marketing Automation, and a host of other functions. These together form the tech ecosystem for the company which may comprise multiple tech stacks.
All these systems need to be able to exchange the right data in the correct order seamlessly in order to ensure the company functions efficiently and effectively. Bringing them together creates a unique tech stack for your company. Make sure the right combination of systems is in place so that they work at their best efficiency, effectiveness, and efficacy for the good of the company as a whole.
At this point, some of the questions in your mind are sure to be:
What are the components of a typical tech stack, and how do we decide what works best for us?
How do we address the need for change and replace legacy systems with a suitable tech stack?
What factors determine the right components of your particular tech stack?
And how do you go about creating the right tech stack for your business?
Do we need to overhaul our complete tech stack, and if not, how do we do it without affecting operations in the transition period?
These and more questions are what we will seek to answer in the subsequent blogs on fashion business tech stacks, so stay with us.
Fuel4Fashion is a design, branding, and technology consultancy for the fashion and apparel industry. We provide consulting and advisory services across design, business, and IT processes to early-stage and mid-sized apparel manufacturers and brands looking to grow their businesses with the help of smart sustainable management practices. Visit our website here and follow us on Instagram and LinkedIn for regular updates.