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Demand Management of Knitwear Industry in Changing World

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In knitting industry demand management is highly required for smooth and steady business. …

In knitting industry demand management is highly required for smooth and steady business.

Demographic analysis is not enough to forecasting the demand. Psycho graphic influences also need to analysis.

High innovation and fashion content are the main aspects of demand creations.

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  • This presentation is going to use IBM’s supply chain transformation as a case study to discuss: -- how companies need to couple a clear business mandate with a fact-based assessment to confirm that the initiative will deliver significant value to the business Using IBM as an example, I’ll point out several elements to developing a fact based assessment including: -- interviews -- SCOR mapping -- process characterization -- benchmarking and gap assessment All aimed at building a true on demand supply chain.

Transcript

  • 1. Demand Management of Knitwear Industry in Changing World - A Special Focus on Fragile Market Trend (With Reference to Koral International, Tirupur)
  • 2. World Knitwear Market Size in US $ Bn.
  • 3. Top Knit Apparel Exporting Countries of the World in the year 2005 - 06
  • 4. Top Knit Apparel Importing Countries of the World in the year 2005 - 06
  • 5. Indian Exports of Knit Apparel
  • 6. USA's Knit Apparel Imports in US$ Mn.
  • 7. Tirupur Knitwear Exports by Volume
  • 8. Tirupur Knitwear Exports by Value
  • 9. The Demand Management Process
  • 10. Scope of the study
    • Worldwide demand for knitwear products is growing vastly. In 2006, China retains the leader position in clothing export followed by Hong Kong, Italy, Turkey. India holding seventh position.
    • Apart from the demography analysis and market trend, now a day apparel market mostly depending on the mood, behaviour and buying habits of the consumer.
    • People likes knitwear garment much as casual dress according to their range of styles, colours and mood
    • Fashion in garment industry as usual playing a fragile role. Uncertainty of demand for knitwear product variety is still on the higher side
    • Mass customisation and digital printing for meeting unpredictable demand levels, for luxury goods, uncertain customer wants and for heterogeneous demand.
    • USA, EU (25), and Canada all together constitute approx 74% share in world exports of knitted garments from India.
    • Knitwear industry in Tirupur are not utilising the full capacity because of flexi demand
  • 11. Objectives
    • In knitting industry demand management is highly required for smooth and steady business.
    • Demographic analysis is not enough to forecasting the demand. Psycho graphic influences also need to analysis.
    • High innovation and fashion content are the main aspects of demand creations.
  • 12. Analysis: Current Knit Apparel Business Trends
  • 13. Analysis: Company’s Operating Model
  • 14. Analysis: Import Order Placement Type
  • 15. Analysis: The Initiatives Company Take to Increase the Orders
  • 16. Analysis: Demand Type and Production
  • 17. Analysis: Time Require to Execute a Standard Order
  • 18. Analysis: Measurement to Quantify the Demand
  • 19. Analysis: Managing Supply with Respect to Variable Demand
  • 20. Analysis: Same Order Repetition and New Order Rejection Rate
  • 21. Analysis: Factors Influencing Purchase
  • 22. Analysis: Level of Satisfaction
  • 23. Analysis: Attributes Consider Most while Placing the Imports Orders
  • 24. Findings & Recommendations
    • Manufactures to maintain a good knowledge base on fashion markets and interpret the fashion market as well .
    • The price and the consistent quality are the high criterion for selection of a knit garment.
    • Tirupur knit industry is expected that efficiency in production process and high productivity would affect the price and quality as well which help them to compete head-on with the biggest low cost suppliers from other developing counties.
    • Low repetition rate is not the cause of concern for import orders unless and until knit company has good product development capability.
    • Demand uncertainty or risk is pretty high in knit apparel business.
  • 25. Scope of Improvement
    • The survey focused mainly on the demand and marketing aspect and not on sales. In depth survey of the distribution channel also needs to be conducted to know the preferences of the buyers well.
    • The impact of demand variability on pricing and inventory replenishment decisions is not touched.
    • A measurement requires to identify the effective supply chain strategy in knit industry.
    • The possibility of any kind of alteration in the product or the product line has been totally eliminated in this project.
    • The possibility of the new product in the global market has also been neglected. The new product development frequency also needs to be studied.
    • A cost benefit analysis based on this survey may be designed to know the feasibility of the various promotional strategies.
  • 26. NE Q? Thank you all