Brandix arms itself with two innovation-led patents
Lately, Sri Lanka has become a ‘silent’ trailblazer in innovation in this part of the world with apparel manufacturers taking the lead in turning out products bred out of necessity.
After Hela Clothing and MAS, Brandix says it has secured two international patents related to the healthcare industry and apparel sector.
“We built an IT based solution called ‘Accella’ to ease the entire workload in an apparel company,” Hemantha Rodrigo, Associate Vice President IT, Administration and Sales at Brandix i3, the IT arm of the global enterprise software specialist arm of Brandix, told the Business Times.
Competition is harsh in the fashion industry. Apparel manufacturing and distribution companies must work harder and faster to offer an increasingly wide range of products at the best possible price. Consumers have become adapted to ‘fast fashion’. They wait for continuous innovation, which means that clothing manufacturers and distributors are under stress to get the product to market quickly. The fashion product lifecycle is getting shorter. Mr. Rodrigo adds that these main challenges in this fast-moving, highly competitive sector made Brandix i3 develop on its innovative spirit.
Accella manages complex products throughout the entire supply chain and help manage product scarcity, buffer stocks, and balance sizes to ensure consistent delivery and optimise profits, he added. Accella is patented and the second patent that they secured is for a healthcare product with an international partner.
Mr. Rodrigo discussed this on the sidelines of a Chief Financial Officer (CFOs) meeting that Brandix i3 held recently to educate CFOs on an interesting product with their international partner, Infor called Office of the CFO. He said that the apparel software helps apparel firms navigate technology, address business requirements and problems, and ensure they remain competitive and profitable.
The discussion was organised at an interesting time when CFOs are increasingly being asked to get involved in more diverse projects within their organisations, using their skills and experience to contribute to strategic growth.
Finance leaders, who need to use all the tools at their disposal to make sound decisions based upon quantitative evidence can use this tool, Mr. Rodrigo noted adding that Infor’s Office of the CFO solutions are built from the ground up to meet the challenges of today, while offering the adaptability and agility to manage needs far into the future. “These solutions give you the insight a CFO needs to make better decisions faster and the visibility to both monitor performance and consistently implement financial controls. It has the flexibility to support new strategies, along with the tools to identify and evaluate opportunities for growth – be they margin, organic, or acquisition-based. The result: The ability to adapt with ease, no matter how fast business changes or where in the world it may go.” CFOs, he said, will gain greater insight and exercise control over business operations.
Analysts noted that Sri Lanka should get away from the traditional export oriented earnings and foreign remittances and move towards science and technology-led innovative economic growth and products such as what Brandix has put out may well be the start. “The world has changed because of innovation that has come into play. Investments on science and technology are very much anticipated and investment opportunities and jobs must be created in this sector,” said an analyst adding that to achieve 1 per cent GDP growth, Sri Lanka needs to invest 4.5 per cent and if that investment is in innovation, Sri Lanka can achieve GDP growth more efficiently.