Management BriefingsMr. Stanley Jothiraj
Chief Financial Officer
S. P. Apparels (India)
Management Briefing: Fastreact Facilitates Work In Progress (WIP) Reduction & Control. An often overlooked part of the drive to reduce lead times and increase factory performance is Work In Progress (WIP). Manufacturers should focus on WIP reduction & control as there are significant benefits to be gained.
In a volatile world, excellent visibility, coordination and communication are ‘MUST HAVE’ tools for survival. As the global apparel industry begins to settle into the post-quota era, the dynamics of the entire sector are shifting. For many this presents the toughest challenges to date and a fight for survival that only the best will win. For others, in emerging countries like China, India and Vietnam, more favourable circumstances are creating great demand and opportunities.
The elimination of quotas will invariably provide buyers with more freedom in where they place their orders. However, will, as many fear, price be the key determining factor for buyers, propelling low labour cost countries such as China, India and Vietnam as the only sources for apparel?
Most manufacturing businesses, even in low-cost countries, are increasingly faced with the problems of rising costs and competition for skilled labour. These factors are rapidly eroding any labour cost advantage and long-term survival and profitability are increasingly dependant on improvements in productivity.
Fast React are specialist providers of Planning, Sourcing and Critical Path Management solutions specifically developed for the Apparel, Textiles and Footwear sectors where tight margins and short lead-times are commonplace.
