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Key Challenges, Opportunities and Capabilities in Garments Industry

Preferred Professional service partner offering quality business solution in Auditing, Consulting, Outsourcing and Technology for Garments Industries<br>

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Key Challenges, Opportunities and Capabilities in Garments Industry

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  1. GARMENTS INDUSTRY PreferredProfessionalservicepartnerofferingqualitybusinesssolution inAuditing, Consulting, Outsourcing andTechnology. www.astralbusinessconsulting.com

  2. Indian textiles and apparel have a history of fine craftsmanship and global appeal. Cotton,silk,anddenimfromIndiaarehighlypopularabroad,andwiththeupsurgein Indian design talent, Indian apparel too has found success across fashion centres aroundtheworld. Indiaistheworld'ssecond-largestexporteroftextilesandapparelwithamassiveraw materialandmanufacturingbase.Thetextilesindustryisasignificantcontributorto theeconomy,bothintermsofitsdomesticshareandexports.Itcontributesabout7% toindustryoutput,2%totheGDPand15%tothecountry'stotalexportearnings.The sector is one of the largest job creators in the country, employing about 45 million peopledirectly. Introduction Mainmarkets forIndian textiles andapparelexportare: PARTSOFASIA EUROPEANUNION USA MIDDLEEAST 02 04 01 03

  3. Shortageofskilledmanpoweritleadsto increaseinmanpowercost Increaseincostofrawmaterialdue frequentupwardchangesinyarnprice HighCycletimeforgarments-Theaverageleadtimeinmanufacturinganddeliveryaround45-60daysfrom fabricbuyingtoshipmentofapparels.Itcanalsogetextendedto80days. Nonadherenceoftimelyandefficient deliveryofproducts Pressuretomeetstringentsocialand environmentalnorms Unorganizedweavingsector,approximately95%oftheweavingsectorinIndiaisunorganizedinnature.The decentralizedpowerloomandhosierysectorcontributes85%oftotalfabricproduction. KeyChallenges Smallandmedium-sizedenterprises(SMEs) constitute 80% of the textile industry. They faceissueoffragmentedproduction,lackof accesstotechnologyandfinances. TextilefactoriesinIndiaare not fully automatedandremainlabour-intensive, marginal technological gapexistsin weaving, processing and embroidery and larger gaps in knitting, technical textile and garmentingsegments. OPPORTUNITIES Indian has a large raw material basecoveringalltypesofnatural and synthetic fibres which has helpeditto achieveaglobal stature. It is the largest cotton producer in the world with the shareofapprox27% The Apparel Export Promotion Council (AEPC) is the official body of apparel exportersthathelp Indian exporters aswell as importers/internationalbuyers choosing India as their preferred destinationforsourcinggarments. Topromoteexportof ready- made garments and made ups, GovernmentofIndiaincreased Merchandise Export from India Scheme (MEIS) rates from 4% to 6%underthemid-termreviewof ForeignPolicy2015-21. Theweavingsectorisgetting subsidyat10%subjecttocapof 20 crore under ATUFS, whereas for garmentingand technical textiles, subsidy is provided at 15%subjecttocapof30crore. Technical textile is expected tobecomeoneofthefastest growing segments in the industry

  4. ASTRAL'SCAPABILITIES: • Implementationofbettermonitoringsystemof On-timedeliveryofmaterialstocustomers. • Evaluation of the sub-contractors ( Outsourced valuechain)toensuretheircapabilitiesand performancesaspertherequirednorms • Implementation ofautomation process wherever required to improve the efficiency of theoperations. • Materials reconciliation toensure the consumptionofmaterials,wastages, process lossasperthenorms. • Performance managementsystemtobring better efficiencyofthekeymanagement persons by implementation of KPI/ BSC ( Key performanceIndicators/BalanceScoreCard) • Removalofallnon-valueaddedactivities throughworkassessmentstudy • Implementationandreview oftheinventory optimization to ensure the minimum inventory carryingcost • Health check-up of your planning software and T&A ( Time & Action) to ensure as per your businessrequirements • Implementationofthesystemtoensurethe correctordercostingandprofitability. • Implementationofcost reductionandcost control initiatives to minimise the operational cost • Toensure the correctness of the availment all applicable schemes/subsidyprovided bythe Govt. A-Block,19-KurinjiNagar, CivilAerodrome(PO),Coimbatore- 641 014,Tamilnadu,India. Ph:+919994923470,Ph:+918056423456

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