The session has been designed to discuss contemporary industry challenges with respective expert panellists from the industry
Textile Focus, being one of the leading textile industry development firms and media has initiated a special online dialogues session “Focus Talk- focusing solutions”.
Textile Focus has designed the session to discuss once a month focusing on contemporary industry challenges with respective expert panellists from the industry, according to a press release.
The discussion and findings will be widely circulated via online streams, hard copy magazines and social media platforms.
This special webinar series is sponsored by reputed technology provider Logic Software Limited, a sister concern of Asrotex Group.
The second episode of the “Logic Presents Focus Talk” webinar titled “Value Addition through Product Diversification” was held on November 20, from 3.30 to 4.30 pm through the Zoom platform.
Md Shafiqur Rahman, president, ITET and managing director, HAMS Group; Sheikh M Mustafiz, managing director, Cute Dress Limited, and Mofazzal Hosen Pavel, managing director of Dongyi Sourcing Limited were the guest speakers of this dialogue session.
The whole session was moderated by Maeen Md. Khairul Akter, managing editor of Textile Focus and Assistant Professor, Bangladesh University of Textiles.
The objective of this session was to discuss how the industry is coping up with the profitability problem of the RMG sector and how to ensure better value addition through product diversification.
Md Shafiqur Rahman stated that we need to transform from only cotton-based products to more value-added synthetic products like sportswear and activewear.
He also outlines the policy supports provided by the government to sustain the RMG industry and identified some areas to immediately take care of for the betterment of the backward linkage industry.
He said: “We are getting huge work orders at this moment due to different global business dynamics, however, we need to capitalize on the opportunity vigorously.”
He also emphasized the importance of industry-academia linkage and research development activities in the industry as well as institutions to impart value-based solutions.
Sheikh M Mustafiz illustrated how it is possible to get better prices from the retailers if value-added products can be done.
He shared his experience, how he strategizes to choose value-added orders and how he maintains a good margin with his innovative factory operation.
He said: “It is very possible to get better prices from buyers if you can offer better services like better led-time, superior product quality and great correspondence to the customers.”
He emphasized the utilization of resources more innovatively for better outputs.
Mofazzal Hosen Pavel, who is an owner of a sourcing house having long experience working in the retail industry, explained how proper design, development and branding can transform RMG business.
He suggested emphasizing R&D saying: “If you smartly invest in R&D, I guarantee it will provide you manifolds.”
He also discussed how to get better prices from the buyers quoting that buyers do not hesitate to pay better to companies who have comprehensive design and product development capacity for better and seamless services.
The session ended with praises for Textile Focus for continuing industry development activities in an innovative way.