Textile Today question of the month
Context: Bangladesh has 150 green garments factories, the highest in the world which definitely required a huge investment to make the achievement. But many owners are showing despair they are not getting any price benefit from buyers whether investing in technology would be more profitable. Some say maintaining workplace safety and other environmental issues should be enough to do ethical business.
Question: Technology or Green Certification, where actually factories should invest or how to balance between them to be a sustainably profitable company?
I would say, investment to be green and in technology both are needed. Because green ensure overall a healthy workplace and enjoyable working environment which is most important to get best output.
Actually, technology helps to be green. If you want to save water, the energy you need technology. Green is a concept that makes manufacturers responsible. And if we think about the return from this investment, I would say there are many cascade effects of being green.
If a floor is technologically advanced but not working friendly then workers will not feel good to work. Again, where the factory is situated the owner has a responsibility to that community. So, we should not think investment in green is a spoil of money, rather it makes our business sustainable in the long run. And technology will support the green and increase profitability.
Bangladesh has 150 green garments factories. The number is highest in the world which required a huge investment. In most cases, these green factory owners are not getting a higher price from the brands and retailers, also the outcome they are getting for the eco-friendly structure is very low compared to the investment they have made.
For the same kind of product, they offer more prices to Sri Lanka than Bangladesh. We have a responsibility to our planet to keep it sustainable for the next generation. By adopting various sustainable technologies we can make this happen.
A green or sustainable factory increases the efficiency of energy, water and material use. It conserves resources and reduces negative impacts on human health and the environment throughout the building’s life cycle – from construction and operation to renovation and removal.
From a practical business transformation viewpoint, priority is to transform processes and people then comes overall business transformations through green and other attributes.
For example, using real-time data tracking reduces 7 wastes, reduces paper usage, improves the effectiveness of managers by reducing process variations across the operational processes. Eventually, it’s a road to being green. Energy-saving high-tech machines, automatic material transformation systems reduce the dependency on humans and reduce CO2 emission consequently. Adapting IoT in product design and sales operations enhances the business analytics tremendously, which helps the manufacturing unit become highly flexible to the changes in fashion and retails. Consequently, it also shrinks the wastage of resources, water, gas and power.
Thus, an ingenious strategy of technological transformations is vital to calibrate business operations according to the demand of retail trends. Besides these, adapting some of the basic green initiatives enhances the business unit’s highly profitable and sustainable operations for long-term goals.