Challenges & prospects of garment industry in bangladesh Essay

Current problem and prospect of Garments industry in Bangladesh â€Å"A study on R.M.KNIT FASHION.LTD†. Objective of the study:Broad objective:q The broad objective of this report is to identify the current problems and prospects of R.M.KNIT FASHION.LTDSpecific objectives:q To identify the current problems of R.M.KNIT FASHION.LTD. To find out the current position of Bangladeshi garments industry in the world. To identify the growth and trends of R.M.KNIT FASHION.LTD. Methodology of the study:Ââ€" Research type:Basically it is a descriptive research by nature.Ââ€" Sources of data:Both primary & secondary data are used for this study, these are:Primary data: it includes the following sources of data.v By a questionnaire through merchandiser and floor in-charge.v Face to face conversation with the top officials.   Secondary data: I need much information for the report, which we get from secondary data.These are:v Annual report of R.M.KNIT FASHION.LTD. Different types of document of R.M.KNIT FASHION.LTD.v Various published document from BGMEA.v World wide web. Data collection procedure:Ø Questionnaire: Well structured questionnaire is used for primary data collection.Ø Population: Total population 24 including merchandiser & floor in- charge. 7. Ø Sampling frame: Name list of 24 merchandiser & floor in-charge.Ø Sampling method: Non-probability convenience sampling methods are used.Ø Sample size: 10 sample size. 8. Limitation: While preparing this report, though I have been helped by management of R.M.KNIT FASHION.LTD and other ways, there were some uncontrollable limitations, which are:Ø Unavailability of relevant research works, article, publications relevant to R.M.KNIT FASHION.LTD.Ø Limited time of internship program. 9. Analysis and Findings:1. What type of products are produce in your industry? knit 40% woven 60%Findings: From this table it is seen that, 60% woven & 40% knit garments produce R.M.KNIT FASHION.LTD 10. 2. Which are the exporting market of our country? USA 30% others 70%Findings: From this table it is seen that, 30% USA &Others is 70% market where my company does their business. 11. 3. Unskilled garments worker is problem for the R.M.KNITFASHION.LTD? strongly agree 30% agree 70%Findings: From this table it is seen that, strongly agree 30% and agree 70%.Unskilled garments worker  is the main problem for this industry. Do you think document delay & improper documentare the concluding major problems? no 30% yes 70%Findings: Above the table it is seen that, yes 70% & no 30%. 13. 5. Do you think R.M.KNIT FASHION.LTD has a enoughemergency stairs? agree 20% strongly disagree 50% disagree 30%Findings: From this table it is seen that, agree 20%, disagree 30% & strongly disagree 50%. 14. 6. Do you think R.M.KNIT FASHION.LTD has a enoughsecurity force & tools for fire controlling? agree 30% disagree 70%Findings: Above the table it is seen that, agree 30% and disagree 70%. 15. 7. Does R.M.KNIT FASHION.LTD provides facilities fortheir worker? agree 40% disagree 60%Findings: From the table it is seen that, agree 40% and disagree 60%. 16. 8. Do you think R.M.KNIT FASHION.LTD has a highquality machine? agree 30% disagree 70%Findings: From the table it is seen that, agree 30% and disagree 70%. 17. 9. Do you think R.M.KNIT FASHION.LTD pay workerwages timely? yes 30% no 70%Findings: From the table it is seen that, yes 30% and no 70%. 18. 10. Do you face any problems in collecting rawmaterial? yes no 50% 50%Findings: From the table it is seen that, yes 50% and no 50%. 19. 11. What are the basic problems on the way of developmentof R.M.KNIT FASHION.LTD? dependency on foreign market 10% poor garment policy 30% unskilled labor 60%Findings: From the table it is seen that, unskilled labor 60%, poor garments policy 30% and dependency on foreign market 10%. 20. 12. How can we remove from above problems of R.M.KNITFASHION.LTD? increase investment try to increase the in this sector area of export 30% 10% establish new infrastructure and conducting training & development program 60%Findings: From the table it is seen that, try to increase the area of export 10%, establish new infrastructure and conducting training and development program 60% and increase investment in this sector 30%. 21. Current position of Bangladeshi garments industry in the world.Bangladesh ranks 4th largest clothing exporter in the world:Source: Xinhua [08:47 July 23, 2010]Bangladesh has been ranked as the fourth largest exporter of clothing with a 3 percent share of the global market by the world body World Trade Organization (WTO), Vice-president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan said on Wednesday.Hassan made the remarks while speaking to the members of Overseas Correspondents of Bangladesh (OCAB at the office of BGMEA. in xporter of cotton T-shirts and second largest exporter of cotton pullover and jeans for the European Union and the second largest exporter of cotton trousers to the United States by volume. The BGMEA vice-president said although the low cost production of clothing is still an important competitive edge for Bangladesh, the increasing competition in the global apparel market has caused manufacturers to produce quality products, increase the commitment with buyers and social responsibility in factories, which have made Bangladesh a reliable option in the global supply of clothing.At present, there are about 5,000 garment factories in Bangladesh and over two million workers are employed in the sector, 90 percent of them are women. 23. Growth and trends of R.M.KNIT FASHION.LTD Financial year UE U.S.A Total Knit Woven RMG Knit Woven RMG production FY 2009 140000 pcs 220000pcs 360000pcs 170000pcs 250000pcs 420000pcs 780000pcs FY 2010 165000pcs 230000pcs 395000pcs 176000pcs 258000pcs 434000pcs 829000pcs FY 2011 167000pcs 232000pcs 399000pcs 170000pcs 255000pcs 425000pcs 824000pcs 840000 829000 824000 820000 800000 780000 780000 760000 740000 2009 2010 2011 Graph: Growth & trends of R.M.KNIT FASHION.LTD 24. Major findings:Ââ€" Most of the time R.M.KNIT FASHION.LTD produce woven products.Ââ€" Main market of our garments product is EU and Bangladesh also exports in USA and other country.Ââ€" Unskilled garments worker are problem for development of R.M.KNIT FASHION.LTDÂâ€" Documentation problem is also a big problem.Ââ€" R.M.KNIT FASHION.LTD has no enough emergency stairs.Ââ€" R.M.KNIT FASHION.LTD has no enough security force and tools for fire controlling.Ââ€" R.M.KNIT FASHION.LTD has no high quality machines.Ââ€" R.M.KNIT FASHION.LTD do not pay worker wages timely. 25. Recommendation:Ââ€" Improving other garment product not dependent only for woven product of R.M.KNIT FASHION.LTD.Ââ€" Extended foreign market.Ââ€" Trained up workers by various diploma course.Ââ€" Fire consciousness is required for all workers.Ââ€" Increase emergency stairs.Ââ€" Ensure enough security force and tools for fire controlling.Ââ€" Ensure high quality machine, so that they can produce high quality product.Ââ€" And the most important is timely pay wages.