Textile Today Innovation Hub launches ‘TexTIMe’ (Textile Today Innovation Meets), an exclusive weekly talk show program that will be held on every Sunday at 4:00 PM.
The industry size of textile and apparel of Bangladesh has been escalating with a declining rate of profit margin little by little. For sticking to a level of profit and sustainability of business, the industry undeniably necessitates adapting with the innovations.
Though the innovation was initially put as an agendum to examine and guide science and technology, it has now transcended into many fields of operations and business practices. Being a core part of business strategy, innovation is an issue confronting all businesses today, no matter their size or type. Picking such needs, Textile Today plans to unveil the weekly talk show program ‘TexTIMe’.
‘TexTIMe’ show will bring discussion regarding the current problems of the industry and the highest possible solutions. Thereby, every week TexTIMe will invite industry leaders to know and share their views with the textile people. TexTIMe would also produce in-depth interviews with hard-hitting questions and topics relevant with the time and issue of the industry. It presumably generates an effective exchange of leadership ideas and opinions to tackle the present and future challenges of business and its operations.
TexTIMe broadcasted its first episode on 26 April titled ‘Export Growth and Retention’ where Abdullah Hil Rakib, Managing Director, Team Group & Director of BGMEA, and ATM Mahbubul Alam Milton, Executive Director of Masco Group were present and shared as the guests. ASM Tareq Amin, Founder and CEO of Textile Today was the moderator of the program.
ATM Mahbubul Alam Milton said that the recent Corona pandemic itself is a big challenge for us as we had not enough preparation to deal with and the pandemic is still on a hype. Along with that business disruption and uncertainty are the biggest challenge for the textile and apparel industry of Bangladesh. Therefore, we experienced huge order cancelation.
Abdullah Hil Rakib said, “Every challenge opens up some opportunities. During the pandemic, many of us went for product diversification and started production of PPE, mask, gown, etc. and I think it was a great opportunity to get rid of the pandemic crisis.”
Regarding the upcoming market, Rakib emphasized on Asian market especially the Korean and Chinese market and also emphasized the online-based market i.e. Alibaba, Amazon, etc. He also shared his prediction about the changes in buying behaviors for the pandemic will impact the market hugely. Especially buyers are moving towards the online platforms which may affect lead time and MOQ (minimum order quantity).
Milton also admitted that lead-time is a major challenge for us, however, our capacity and efficiency are also increasing for shorter lead-time and for that automation and digitization are very much important.
Prof. Dr. Ayub Nabi Khan, Pro-Vice-Chancellor, BGMEA University of Fashion & Technology was present as the special audience and shared his views and also urged to engage graduates in the industry to make the industry more efficient.
In response to that Rakib and Milton both agreed with Ayub Nabi and assured to find out more scopes to make the industry more efficient.
Both the guests emphasized collaborative support from the government, industry as a whole, association, academic institutions, finance ministry, Bangladesh Bank to keep the industry on track.
The talk show was live in Zoom webinar, Textile Today Facebook page and Textile Today YouTube channel. Alibaba Channel Partner Amin & Jahan Corporation Ltd. is the sponsor of TexTIMe.