Executive Summary of a Standard Textile Factory
Executive Summary of a Standard Textile Factory
Executive Summary
It is not so long, since we have started the business year 2012. Time flies very fast and now we have already been passed half of the year. The year may not begin with ease like any other year for the Auto Textileians. Because the Aggrieved mail from Director sir wobbles every corners of Auto Textile. Entire departmental chief tried to attend the meeting held as on 28th January, 2014 with their problems along with the solution and all of us were strongly committed to face the challenges of 2014. After six months we think, it is the right time to present a half yearly financial or a business report that may show the financial position and provide an impression how long we drive forward regarding our commitment.
At the half yearly report, we tried to show a pictorial financial position of the Auto Textile Group (Woven Tops). Generally there are some limitations in the analysis of half yearly report because in the half way all the findings may not come properly. Keep besides this limitation, we here submit all our financial reports along which we tried to depict a pictorial scenario, where we are & how our business runs at present and also our problems and opportunities are also taken places from the financial point of view. So that our honorable top management may get some idea in the half way for their valuable decision makings.
The first six month of 2014, total turnover of Auto Textile (Woven Tops) is 18.51 million USD on an average of USD 9.09 million of per month compared to USD 9.28 million per month in 2013. On the other hand, during the year 2012 woven tops increased its production line to 36 from 30. Paralally Factory Overhead Expenditure increased 29% then of year 2011. The Overhead may further increase after calculating the Assets transfer . In this circumstance, it is an alarming position for woven tops to sustain its profitability unless we expedite our turnover compare to our cost. Now Market Diversify is a significant issue for Bangladesh apparel industry. We may implement by searching new market like Japan, Russia, Latin America, Africa etc. In addition competitive Pricing is also the key factor to sustain the present market and also penetrate in new market.
Besides expediting turnover cost control is a most important technique to sustain the profitability. Because now a days, at this very competitive apparels industry it becomes very difficult to raise the export volume at overnight. In the way of cost control, we should implement some major tools such as policy development, budgetary control, procurement policy implementation, strategy analysis & development, optimum production capacity identification, sales & procurement projection development, wastage minimization, to accelerate production efficiency, overtime minimization etc.
Finally as like all Auto Textileians we believe we may face this challenge to sustain the 25 years growth & profitability by expediting our turnover, production efficiency and control cost with high level proficiency.
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