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The global textile industry is undergoing a profound transformation, with a growing emphasis on sustainability goals and key commercial aspects such as enhanced speed, reliable quality, and data-led pricing, reveals a new report by Portugal-based Smartex. Specializing in leveraging artificial intelligence to empower textile factories, Smartex emphasizes the pivotal role of modern textile factories in navigating the evolving landscape.

Titled 'The Modern Textile Factory: Charting the Impact of a Shifting Textile Supply Chain Landscape,' the report underscores that the unregulated era of low-cost dominance is giving way to a new era, where the modern textile factory (MTF) is at the forefront of this transformative change.

Recognizing that the supply chain constitutes four-fifths of the industry's environmental impact, the report stresses the need for the emergence of modern textile factories to prepare the supply chain for a shift in primary data reporting and investments in more sustainable technology.

The urgency for the supply chain to adapt to new reporting standards and invest in sustainable technology is evident, the report notes. Simultaneously, embracing modernization offers commercial advantages for factories, including faster time to market, improved quality control, and the ability to compete globally with data-led pricing strategies.

Factories that embrace modernization gain a competitive edge, contributing to brand revenue, reducing dead stocks, and enhancing overall profitability. The market's demand for competitive prices, increased speed, better quality, and unwavering compliance necessitates factories to accelerate their modernization efforts.

The report highlights the realization by suppliers that better quality control leads to higher profits and more reliable speed, creating a paradigm shift in the industry. Despite challenges such as financing, susceptibility to macro trends, and entrenched traditional mindsets, the report remains optimistic, emphasizing that overcoming these challenges is feasible with collective support.

In conclusion, the Smartex report advocates for a swift and collective transition towards modern textile factories, aligning with sustainability goals and meeting the evolving demands of the global market. As the textile industry undergoes this transformative shift, the modern textile factory emerges as a beacon of innovation, driving change and ensuring the industry's resilience in the face of new challenges.