Bangladesh Garments Buying House List – Engr. Mohammad Mezbah Uddin PGD™ Marketing II Sales II Merchandising II Sourcing II Purchasing II Supply Chain
Real Estate (BH) is one of the most prominent business areas in the RMG sector of Bangladesh. It is well understood that Bangladesh has achieved the second highest position of RMG exporters in the world, as the sector produces a high quality product at a competitive price compared to other competing countries. Bangladesh has made a big place in the world’s clothing market, with home textile purchases playing an important role in this important contribution. Assuming a minimum of 5 percent purchase service commission, it can be said that at least $1.4 billion was shared by garment manufacturers during the last FY 15-16.
Bangladesh Garments Buying House List
A home purchase is essentially a commercial partnership between a buyer/seller and a builder. The two types of BH that we see in the business field, it can be a purchasing agency or liaison office and a commercial/purchasing office. Both concepts have different meanings.
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The export RMG sector in Bangladesh started its modest journey as a small non-traditional export sector in the late 1970s. After liberation, especially from the 90s onwards, the RMG industry started to grow rapidly as the country was gaining political and social stability. Over three decades, RMG has transformed itself as the country’s highest revenue generating sector, contributing 82 percent ($28.094 billion FY 15-16) to the country’s total exports. 70 or 80 no BH in Bangladesh. At the beginning of the 90s, some entrepreneurs introduced the concept of buying real estate to meet the demand of the industry.
Currently more than 1000 registered buying houses, 1500 export oriented textile industries and more than 6000 (4000 under BGMEA and 2000 under BKMEA as of FY 2015-16) RMG industries are operating in the country as per BKMEA and BGMEA reports. It is worth noting that the actual number will be less because there are companies that are members of BGMEA and BKMEA. In the last two decades, this number has been growing rapidly. Industry owners said, the shopping mall is a hub for vendors consisting of leading manufacturers, exporters and suppliers, displaying their latest and trendy collection of clothes to a large audience throughout the year.
In fact the buying house has always played an important role in the RMG sector. It is a combination of all marketing activities, which is not only related to the search for buyers of foreign clothes, gathering orders, media for manufacturers, but also to placing orders in the appropriate factories and providing all kinds of technical support. and communication to buyers and manufacturers.
BH plays an important role in the garment manufacturing sector of Bangladesh. Bangladesh’s RMG sector is 100% dependent on foreign buyers, and foreign buyers are dependent on buying clothes. Because they often don’t know enough about the country of production, the way of communication, culture, nature, etc., but buying a house gives them strong support by providing clothing products according to their needs. Some of the most famous real estate agents have opened their offices in Bangladesh to reduce the cost of buying real estate. It is not possible for all foreign buyers. Therefore, the purchase of new houses is increasing day by day. Below are some basic points for a comprehensive overview of the need for BH.
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Reducing production costs is one of the main goals of a retailer. If a buyer gets a product with competitive price and best quality, it will help to capture the mass level consumer market. Bangladesh is a 100 percent export-oriented manufacturing country. Hundreds of buyers and sellers manufacture their brands from Bangladesh but most companies do not have any contact or office here. Therefore, for the proper execution of the order, there is no alternative to establishing a service office, which depends on a reliable purchasing partner. Setting up your own office is a cost and time consuming factor. “We invest half a million dollars just to keep 30 employees a year,” said one of the country’s famous brand manager Carin Kjellgren. Whereas a customer can easily get all the services from a buying house to share the FOB percentage or the service fee or sometimes both.
A new product is like a new born baby, without proper care it will cost thousands of dollars on both sides. A big loss for a buyer is both reputation and money. Merchandiser, product manager is always busy to maintain the quality of the product as per the requirement of the marketer. He is the doctor of any type of serious condition in the development to the stage of shipment. And it is impossible for remote buyers. Buying houses is done at the pleasure of the buyer and the supplier of such services.
The supplier usually got 90 days for a single order lead time. In the last year, it decreases a lot, but not more than 60 days means that everything can happen within this. A constant third eye support is needed in this complex supply chain process; it is very necessary on the part of the supplier especially during production. During the production, the trader has to make some important decision for the perfect production, so before making the decision, he has to observe the actual scenario, what happened in the production floor, after a detailed inspection, he can make a decision about both the quality and also maintain production. at the appointed time. And it is impossible for a foreign buyer to buy a house without a grant.
The right communication never happened without proper knowledge about the subject and perfect technical know-how. Buying a home receives accurate information from the buyer and is understood from the supplier who directly fulfills the order. Often people use their native language to create the true meaning in this process. Buying a home doesn’t just work with famous buyers, it helps small buyers as well. Currently, many new potential brands are growing; which does not have a specified provider. Buying a home by providing clothing suppliers provides them with a sound opportunity.
Pdf) Eti Rmg Bd
Ensuring proper quality is one of the main tasks of a buying house as the garment industry maintains a complex supply chain where the supplier sources different materials from different locations, sews the garments with different skilled workers and sells the goods to the retailers. Buying a house has always made a very expensive quality specialist to ensure the quality of the product. No end customer will buy a quality garment with visible defects. Therefore, buyers and sellers do not knowingly buy a product that does not meet the international quality standard.
Quality conscious shoppers have a strong quality inspection system to avoid buying faulty goods. So without the support of a purchasing team, it is very difficult to produce a product of the right quality from the factories.
New design development is very important for any store. Every year, the buyer develops a number of new products, which is full of trial and error. Speed to market is very important for the retail business that needs fast support from the supplier. But the supplier is always in a hurry, so many home buyers have created their own sample development agencies to provide fast development support to the buyer.
Recently, some well-known shopping houses like Li & Fung have been using T&M sourcing using virtual sampling because it significantly reduces the time it takes to design, produce, store and seek approval of product samples. Product designers create collections of virtual clothing samples for customers to review in a digital showroom. In addition to time and efficiency benefits, virtual sampling offers a more sustainable approach to traditional design and sampling methods.
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In order to do business, foreigners need to know the details about business laws, regulations and the most basic information about licenses required to do business in Bangladesh. Important Laws – Taxation, Customs and Revenue Laws, Investment Laws, Investment Policies and BIDA Act, 2016 are important to know. If the buyer forms a partnership with a buying house, the buyer will be easily relieved of the above problems.
Purchasing a home responsibly manages environmental, social and governance performance. BH works with customers, suppliers and industry partners to promote the sustainability of supply chains and communities across the network. A well-established BH evaluates progress against sustainability goals, sets aspirational goals against best practice standards, and takes action to meet those goals. Due to close monitoring, BH can provide immediate information to the buyer so that buyers can take preventive measures as soon as possible.
Market updates of the country of manufacture is one of the main concerns of a fast buyer. They always want to know about the political situation of the manufacturing country, labor law, review of workers wages, wood price, shoe price, cloth price, lead time, business future, FDI (foreign direct investment) and many other related issues. for production. But it is not always followed by the international media, the international media always covers the most important issues. But the customer needs a regular update about the country of manufacture as it is completely related to their final budget plan so the local buying house is the main player in the RMG sector of Bangladesh for the foreign buyers. .
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