Monday, May 1, 2017

Roles of Organizations to Promote Garments Business

The global apparel industry is one of the most important sectors of the economy in terms of investment, revenue, business and employment generation all over the world. Apparel manufacturing industry is more labor intensive, which is characterized by low fixed capital investment; a wide range of product designs and hence input materials; variable production volumes; high competitiveness and often high demand on product quality. Because the demand of apparels are increasing day by day. So now fashion and apparel business has become one of the first choices for entrepreneurs. There are various roles to promote garments trade. In this article, I have discussed on three major rules of organizations to promote apparel business.
Promote Garments Business

Roles of Organizations to Develop Garments Business:

1. Role of academic institutions:
Every academic institutions like as vocational, polytechnics, colleges, and universities should provide industry oriented syllabus to students and prepare them for situations they will face once they have entered the job market.

In addition, the interaction between academic institutions and the industry needs to be improved by proper coordination. The students should be aware of the recent trends in design, production and quality control. They should also regularly visit the manufacturing units, and complete some projects or training in-house to acquire knowledge about real situations on the production floor. Furthermore, they also should understand the key challenges faced by the apparel industry and the ways to meet these challenges. The academic institutions should organize visit of the students to trade fairs, fashion shows, seminars and conferences in related fields to acquire knowledge on the current state of the art.

2. Role of government:
Apparel manufacturers obtained the freedom of free trade after the phase-out of the MFA in 1 January 2005. But even in the free-trade regime, government policies often affect the apparel-manufacturing units. Stricter import and export regulations create difficulties in the import of raw materials and export of finished goods. Friendly policies for import and export can help to achieve the business objectives.

Import tariffs are used to raise the landed cost of a good produced elsewhere and imported into the domestic market. Import tariffs serve as a means of collecting revenue in addition to raising the cost of imports and thereby improving the competitiveness of locally produced competing goods. In many developing countries this form of revenue collection is of critical importance and supersedes any objective of local industry protection. Often, the tariffs offer little protection to local manufacturers, where the landed cost is still substantially lower than the products that can be produced locally. Hence, the policies of the governing bodies should be favorable for domestic producers, importers as well as exporters.

2. Role of industries:
The key parameters to be successful in the competitive global apparel market depend on the buzzwords such as low product cost, better quality, durability, customer satisfaction, durability, comfort and style. In spite of technical advancements, the fashion and apparel industries still remain as labor-intensive production systems, which results in low productivity and often delays. Industries should emphasize on automation, modernization, waste reduction, training to the workers, ecological considerations and adhering to specific quality systems, which can lead to an increase in the productivity and quality and a decrease in the amount of waste, stopovers and production delays. Each of the employees should work to achieve the organizational goal, and the industry should also look after the employees with fair remuneration, incentives, leaves, other perks and facilities.