Bangladesh knit and woven backward sector, respectively provides 60% and 20 value addition to RMG, More value addition could be done in the recent highly competitive market if Bangladesh gets enough lead-time.
Fakir Rafsanuzzaman, Director, Fakir Apparels Ltd.
In the new age of fashion, global retailers demand shorter lead time from suppliers, so we as suppliers must become more agile as well. As one of the core time/cost centers for a manufacturer is the supply chain, efficient management of the supply chain can effectively reduce order lead time significantly.
Considering most woven components for value-added products are sourced from China with a lead time of 90-120 days, the majority of the time spent to in-house those materials is valuable time wasted.
Manufacturers must learn to develop domestic backward linkages in their supply chain to not only cut down lead time but to balance out our high dependency on Chinese imports.
This is also imperative to support key industries of the sector in the post-pandemic era as well. Although the quality of materials remains a question, similar to buyers, manufacturers should learn to make their suppliers their partners in growth by developing quality and competencies.
Innovation on the part of customs to help facilitate C&F to process and release goods can also help cut down the idle time of goods spent at the port. Additionally, information lead time or time taken for an order to be processed between buyer and merchandiser can be optimized by enhancing existing ERP systems.
Mohammad Mijanur Rahman, Managing Director, TEXIMCO (BD) LTD.
We need to think our RMG industry need more attention to establish research and development units for every company to create the new design and develop value-added products rather than only basic designs wherein copy-paste products has very less scope to claim better prices.
So, a dedicated and strong R&D team could give in the long-term business policy that helps to increase the ratio of value addition.
Our garment sector has the potential growth in terms of value addition if we can engage our industries owners to raise awareness about how to concentrate more on value addition, capacity building on product and market diversification and better negotiation as well as branding and marketing by resolving present intimidating of the industry growth such as deficiency of suitable policy support, insufficient infrastructural development, deficient gas, and energy supply, underprivileged port condition, unskilled manpower, transportation service, customs & export related originations need to more potential effort.
Engr. Azizul Hoque Milton, CEO Vision textiles Ltd.
We need proactive plan. Like for repeated orders: grey fabrics could be knitted earlier that dyeing to be started getting the final PO sheet, and accessories also.
For irregular orders: At least a few counts of yarn to be arranged as stock. Fabrics making should be started once the order is confirmed.
Above all, the sourcing department/ planning is most important to execute orders successfully within time.