Wazir Advisors, India’s premier management consulting firm focused on textiles and apparel value chain, will release its report titled “Manufacturing Excellence: The Path to Profitability in Textiles” at ITMA 2023 next week.
The report will talk about the importance of manufacturing excellence for manufacturing companies and its critical role in controlling cost and quality to improve profitability. The report will have a detailed account of the factors affecting the cost of manufacturing and benchmarking norms of various parameters in the various segments of the textile industry.
Textile and apparel are cost sensitive products. In last 50-years the manufacturing bases have kept shifting in search of locations that can produce them in the lowest cost, whether because of low labour cost, duty free status, raw material advantage, or any other reason. Asia’s rise in global textile and apparel trade is a direct result of such need. In last few years, longer supply chain risks, extreme price volatility, consumer demand depression and geopolitical tensions have caused the global brands and retailers to re-think the entire supply chain structure. Reduction of China’s trade share, retailers showing revived interested in near shoring, increased investment in Vietnam and
Bangladesh are some of the trends that have accelerated in post-COVID world.
Sanjay Arora, Business Director, Operations Excellence, Wazir says “When a buyer is looking to replace a Chinese
vendor, they would need the same scale and service at the same cost. Companies positioning themselves as a
credible alternate in other geographies have to ensure their cost competitiveness. And, manufacturing excellence can be the best arrow in their quiver.”
Wazir’s latest report will talk at length about the impact of various parameters on the cost of manufacturing in segments of spinning, weaving, knitting and processing. The report will be available for visitors in their ITMA stall H9, C107 or over email post the event.
