MENTOR - The apparel sector loses US$15.3 billion in supply chain waste every year through overproduction and damage, according to a new report from materials science company Avery Dennison.
Entitled 'The Missing Billions: The Real Cost of Supply Chain Waste', the report says that six per cent of stock is lost each year - the equivalent of three per cent of annual profits.
Two-thirds of this is down to overproduction while the remainder of the written off stock is damaged or perished, according to the study of more than 300 businesses and 7,500 consumers.
