This pandemic situation has lead a few organizations do the business best in their lifetime, but maximum are sufferings. Our industry leaders are fail to foresee the upcoming situations in December 2019 when China affected by Covid 19. Vietnam set the example to world. Quick & timely appropriate steps can save from disaster. Maximum rmg industries are in financial crisis due to several reasons, we have seen a general tendency to fire the workforce. This is not a fare practice. We can conquer this situations/tough challenges by achieving operational excellence.
An attention can ve drawn towards a few areas, optimum utilization of inventory without hampering current production capacity. Generally, inventory values are around 10 core in a 30 tons factory (only textile), minimum equivalent inventory value of 2-3 core can be reduce, which eventually enrich the cash flow. Still different types of waste exist in our production process, few we do not recognize as waste but actually they consume space, money, time, material but we are not getting money for that.
Most of the factories supply chain is vulnerable, raw material / input does not feed as per plan. Factories are incurred huge financial loses for that. By streamline the supply chain, can possible to reduce unwanted financial losses like overtime, delay, discount & air shipment etc.
A few factories kept huge spare parts in inventory but even than faces huge financial losses due to higher breakdown of machines & repair maintenance. Optimization of this area also provide huge financial gain.
In Bangladesh the calculation of the cost of poor quality is left to be done it’s huge, it can be minimized by optimizing production process, setting proper SOP, by train the workforce etc.
As the production houses are wasting the human resources in many ways. One example is, wasting time in workplace is around 40%. Many ways, workers & officers are wasting times in workplace. We can ensure maximum utilization of their production capacity by training, building awareness & setting controlling measures etc.
