Business Recommendations of a Woven Top Factory
Business Recommendations
Business Recommendations - Budgetary Control will be the major cost control technique for Auto Textile. Though it takes place in the some part in the company, it should be work in every cost center, factory & department wise. If an approved budget placed by the every cost center, then the excess expenditures can easily find out by the budget variance. Business Projection is another essential element for smooth financial position. Sales & Procurement Projection are crucial to forecast & implement every business & financial plan. If low variance short-term projection & long term target implement, Auto Textile may operate more financially sound business.
Competitive Pricing is now the heart of apparel industry marketing but it is very difficult to set in heterogeneous product. High pricing may causes the loose of market & low pricing certainly decline profitability. There are so many issues relating to pricing, which are not possible to illustrate in few words. But it should be analyzed & reviewed more & more time regarding market condition, CVP analysis, BEP analysis, factory optimum level fulfillment etc.
Procurement Policy Implementation is presently commenced in the Auto Textile. Implementation of Procurement Policy is required both local purchase & foreign import. Successful implementation certainly helpful for the control of cost & reduce the exploitation of procurement. It also help to minimize capital blocking which is directly related to enhance financial cost.
Diversify Debt Instrument is indispensable for reduce cost of capital. It is hard for present garments industry position to operate business by bearing long-term loan at the rate of 16-18%. Presently the Govt. & our associate banks offer some low cost short-term loan (interest rate 3.5% - 7%) like EDF, OAD, UPASS etc. especially for the apparel industry. We should create fund by efficiently use those instrument and then we should go long term investment by the created fund.
Stock Management System has a crucial role for any manufacturing company. Woven tops able to figure a Stock Management System, which is working on wastage minimization, costing data generation, inventory turnover period minimization etc. More nursing & technological support may provide fruitful result for the company.
There may be more recommendation like market diversification, information technology development, production technology development,for optimum capacity level identification, more realistic for every context of production, worker turnover ratio minimization etc. which should be deliver more emphasis by the concerned department. End of Business Recommendations
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