09/16/2020 | Press release | Distributed by Public on 09/15/2020 13:50
16 September 2020: Coats Digital, the software business of Coats, the world's leading industrial thread company, has launched GSDCostV5, the latest, highly intuitive, browser-based version of the only globally recognised, time-cost manufacturing standard for apparel brands and manufacturers.
Gary Thompson, Senior Director, Strategic Partnerships and Alliances, Coats Digital commented, 'As our industry begins to emerge from the COVID-19 crisis, businesses face unprecedented demand volatility and cost pressure, while consumers are increasingly holding brands to account over sustainability. Responding to these challenges will require greater levels of collaboration between brands and manufacturers, more accurate and transparent costings with a fair allowance for a living wage, and optimised manufacturing methods and costs. I am delighted that the launch of GSDCostV5 will play a key role in helping to support brands and manufacturers address these challenges, while also driving sustainable cost-efficiency and speed to market.'
The stand-out enhanced feature of GSDCostV5, is the introduction of a globalised fair wage tool, which combines the international standard time for any given style, with detailed factory efficiencies, contracted hours and the fair living wage for the country. This allows brands and retailers to quickly agree the fair living wage allowance for any given garment, in any factory in the world. The GSDCostV5 fair wage tool brings a new level of visibility and transparency to market-leading brands and manufacturers in discussions on time, cost and compliance. This supports and demonstrates a commitment to fair, sustainable wages and the ethical treatment of garment workers around the world.
GSDCostV5 launches with a native integration into the Res.Q shop floor suite of solutions providing a real-time, digital feedback loop of actual versus standard minute value at the operation level, highlighting variances and opportunities for proactive, continuous improvement. Further integrations with Res.Q will leverage the power of digitised machine inventory and line planning. This will provide the basis for a new level of line balancing, method optimisation and faster, more detailed and accurate capacity planning.
GSDCostV5 supports a more collaborative, transparent, efficient and sustainable apparel supply chain, taking time-cost benchmarking, costing optimisation and method improvement to a new level. By doing this, it places people and fair wages at the heart of the recovery from the global pandemic.
For more than 40 years, GSDCost (previously GSD) has been used by brands and manufacturers to establish and optimise time-cost benchmarks for garment costing and manufacturing excellence. Recognised by the International Labour Organisation (ILO) and trusted by more than 5,000 customers in 65 countries, GSDCost is proven to optimise costs, increase productivity and speed to market.
GSDCostV5 builds on this market-leading heritage, leveraging the latest software architecture to deliver a highly intuitive SaaS solution, hosted in Microsoft Azure. It is easily integrated with other applications and provides customers of all sizes with fast access from any location to a high performance, cost effective and scalable solution, with no requirement for IT expertise or infrastructure.
For further information go to www.coatsdigital.com/gsdcost