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Article: Breathing new life into old systems with XBRL-GL.(Technology annual conference topic: the Wacoal story)(eXtensible Business Reporting Language for General Ledger)
- Article from:
- Strategic Finance
- Article date:
- March 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 Institute of Management Accountants. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE WACOAL CORPORATION (Wacoal), an apparel manufacturer and marketer located in Kyoto, Japan, recently faced a classic problem--the need to significantly improve the quality of financial data available to key decision makers. They had little time or resources to make wholesale changes.
Wacoal isn't alone in their challenge. Recently, the severe recession in the Japanese economy and new threats from overseas manufacturers, especially from the Chinese, have been forcing the apparel industry to achieve higher levels of operational efficiency both internally and externally throughout the apparel supply chain. Facing intense economic pressure, Wacoal began to look to ...