A large number of not standardized fashion products, Swot analysis of garments industry harmonized sizes and quality of production are danger for gaining an access to the world market.
Even a change in shopping habits can be a major threat to a retailer. Sometimes, the people of the organization are not in position to change their traditional working environment nor to acquire the new technology in their working mode, or it can be dangerous for the organization to acquire the new technology.
A SWOT analysis is a structured planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business venture. Opportunities can include unfilled consumer needs.
One is ERP software for apparel industry and another is erp software implementation life cycle. Opportunities and threats are external factors, which are positive and negative situations that retailers continuously face. Further, it can create a consultant division in the market for the ERP system implementation for other organizations without an ERP system.
The threats to the present Garment Industry are as follows; An intensification of the competition, especially from the sub Asian member countries, before and after the phasing out of the MFA. For example, when people started migrating to the suburbs in the s and s, downtown retailers, which represented the traditional way of shopping, were affected.
Above all, a clear, advanced, long-term mission and vision in top-level management will always stand as a supporting poll for the ERP system development team as the parental tree for achieving the goals and objectives. To overcome the loss of orders due to the expiry of Multi Fibre Arrangement after yearthe position in the traditional export markets in the USA and UK by should be strengthened by establishing a strong relationship with distributors and buyers and developing an expansion strategy for the markets with good potential.
One innovation has been the enterprise resource planning ERP application, which is a tool that brings about effective coordination between the departments of an organization to direct the process by providing comparative information and analysis regarding trends and forecasts.
The organization hired the consultants for implementation and deployment of the ERP system, but after finishing the task, the consultants leave the organization.
In fashion industry this process is neglected, so many companies are struggling for their existence. Additionally, the company may offer unique products compared to other retailers.
Strength means the characteristics or factors that give an edge for a company over its competitors, the advantages over others in the market. During the ERP system implementationthe role and support of top-level management plays a vital role, and if decision-making is of a bureaucratic nature at the top level of management during the implementation, others in the organization may not have faith in management, adversely affecting the implementation.
Low level of marketing information, and knowledge about export marketing with hardly any marketing activities. Sometimes not all in the organization may have as much technical savvy as the development team, yet if they will use the ERP system, they must understand the technology.
Effect on Sri Lankan Apparel Industry: ERP was coined as an extension of the concept of manufacturing resource planning software, which automated the process of keeping a manufacturing line supplied with materials to meet incoming orders.
For example, the owner of a chain of gift shops may have a tech-savvy marketing team -- a strength -- so she may see the opportunity to increase sales and profits through social media campaigns over the Internet that the marketing team can spearhead.
The implementation is a long and time-consuming process, so it requires more time for better implementation in organization, and if the organization has the time, it will be more of a benefit to the ERP system.
Such an educated and creative team ensures designing and gaining new articles of clothing as being the most important element in the development of garment industry done as planned and continually according to current situations and priorities.
Further there is a very good opportunity to capture a bigger market share in the EU: As well as to show how a fashion industry should get better by the help of this analysis.
Because of poor economic power and great competition on the world market there are possibilities for many fashion companies to fail, therefore a good distribution net should enable joint breakthrough for many fashion companies to the foreign market, as the only possibility.
A few domain specific strengths are listed: The technology is less complicated easy to transferMachineries are cheap and easy to operate sewing machinesA large female labor force that is easy to train is readily available.
It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.
Essentially, the store selling to all market segments may mean it has no competitive advantage that sets it apart from other retailers.
For example, a clothing store may sell high-quality but slightly defective clothing at a low price.
This problem can be solved by introducing the system of sizes according to ISO standard. Foreign buying houses not only bring the international market to the doorstep of local entrepreneurs, they also ensure the availability of essential inputs such as imported fabrics and accessories for the industry.SWOT analysis is an analytical method/tool which is used to identify and categories significant internal (Strengths and Weaknesses) and external (Opportunities and Threats) factors faced either in a particular arena, such as an organisation, or a territory, such.
SWOT, an in-vogue form of strategic planning, is ideal for the volatile fashion industry. SWOT studies evaluate "strengths, weaknesses, opportunities and threats" involved with stated business objectives.
SWOT Analysis on Readymade Garment Industry in Bangladesh RMG is the leading industry in Bangladesh. It is basically a labor-intensive industry and it needs limited financial investment and relatively simple technology compared to other high technical industries.5/5(1).
SWOT analysis can be of a special importance in apparel manufacturing industry when used for designing a new article of clothing, i.e. collection. This article has presented a details discussion on SWOT analysis of apparel industry. SWOT analysis is the method of strategic planning that enables analysis of estimates and combining of internal factors with information from external sources on the market and in business environment.
SWOT analysis of ERP system in textile and garment industry: The SWOT analysis (strength, weakness, opportunity, and threat) of the ERP systems in the fashion and .Download