Nūl, a Singapore based enterprise, is a way to help oveproduction in the fashion industry

Image from Nūl

Ethics is an essential factor in a company's success. Sustainability looks good, especially in every company. Nūl is an enterprise founded by Raghav M.S. and Malini Kannan that aids companies involved in the fashion industry to see the demand forecast to avoid overproduction. Nūl was created with the integrated expertise of technology, operations, and scaling businesses and has had successful experiences in the parallel industry. This is a big help, especially for companies that take the Just in Case approach, where they buy in bulk just in case of unexpected big orders. The significant disadvantage to those companies, especially in fashion, is that spare stock not sold or distributed can perish or decay.

This would significantly reduce costs and increase profits, as well as contribute to effective procurement and optimize stock. With the use of Nūl, businesses can also see their business performance through supplier-to-order analysis, future planning for buying strategies and markdown optimization, in-season optimization of inventory, and forecast reorders to come just in time. Nūl would be their renowned AI-driven inventory powerhouse for customers to make smarter decisions, have stronger partnerships, and increase sustainable growth.

However, why do they focus on the fashion industry? Well, the fashion industry accounts for 8% of global greenhouse gas emissions. Indeed, the fashion industry is one of the most polluting sectors of the business world. That's why buying or producing too much is quite deadly for the planet as many spare stock perishes or decays by a considerable number daily. Although unfinished products are going to waste, it is a significant unsustainable factor already. Producing or buying that many clothes also takes up a lot of water and uses thousands of chemicals. Also, what happens when people discard the use of their clothes because they don't seem fashionable anymore or clothes don't seem to fit them anymore? Their clothes go to waste if not given to charity, and I bet you can tell that this creates an attrition to a sustainable culture in the world.

With others seeing the vision for this sustainable business to build a change in the world, they recently received $500K in funding from Wavemaker Impact. Wavemaker Impact is a climate venture builder that aids the sustainable world in giving solutions to sustainability challenges by creating scalable, market-driven solutions.