The swot analysis of garments industry in Bangladesh are as follows:
Table of Contents
Strength
- More than 30 years of history and experience of garment manufacturing.
- Large labor force still comparatively expensive compared to competitors
- Strong backward linkage in knit sector
- Resilient and ambitious young entrepreneurs
- Huge production capacity
- Highest number of green industries and a positive sustainability image
- Explicit positive change management practices in the factories
- Improved worker-management relationship
- Support of government as a major export sector.
Weakness
- Low productivity
- Weak technology management
- Low level of skills and capabilities specially in mid-level management
- Weak backward linkage in woven sector
- Longer change over time from style to style compared to competitors
- Weak industrial engineering, longer lead time
- Excessive defects and more reworks, weak quality management
- Poor transportation and logistics facility
- Sub-standard port facility
- High tax rate
- High energy price
- Market and product knowledge gap
Opportunities
- More order flow from China due to changes in global business dynamics
- Improved image and confidence of foreign buyers
- More practice of sustainable solutions
- More emphasize on cost control
- Huge growth in denim sector
- More practice of product development and expanding value-added services
- Export flow toward non-traditional markets
- Increase in the availability of local technology and consulting service-providing agents
Threats
- Over-dependency on foreign raw material
- Very low profit margin on basic items
- No or very little investment in non-cotton-based fiber and fabric industries
- Energy crisis and price hike
- High worker wage in relation to skill level
- Rapid technological growth in competing countries
- Sub-standard education and training facilities
- Little or no research and development
- No proper road map for sustainable development technological change
- Low FDI and local investment due to bureaucratic and lingering problems
Mahedi Hasan working as an Executive in Fabric Marketing at Textile Suppliers Ltd. Graduated with B.Sc. in Textile Engineering. Before was a Top Rated content writer at Upwork, and Level 02 Seller at Fiverr, Level 02 Publisher at Ezoic. Very passionate about content writing, SEO practice, and fashion website designing. Highly Experienced fashion writer for the last 4+ years. Have extensive 7 years of experience in the wholesale clothing business.