The Ready-Made Garments (RMG) industry is the backbone of Bangladeshi economy. It plays a pivotal role in the economic landscape of Bangladesh, contributing significantly to the country’s economic growth and development. Adding Embellishments on a Garment enhances the value and customer attraction towards the garments. Hence Embellishment industry plays a vital role in this RMG field as well as Bangladesh Economy. Here we will use a strategic planning tool to get better ideas about the current scenarios of Embellishment industries of Bangladesh through a SWOT analysis. It will provide a structured way to assess internal and external factors that may impact the present or upcoming state of this industries.
A SWOT analysis stands for Strength, Weakness, Opportunities & Thread analysis of a business as well as persons.
Strength
- Cost-Effective Production:
- Availability of Textile Graduate
- Young & Skilled Work Force
- Large number of Renowned Embellishment Factories
- Diverse Applications
- Growing Export Market
Weakness
- Technology Adoption
- Shortage of Educated & Technical People
- Infrastructure Challenges
- Environmental Concerns
- Dependency on Manual Labor
- Lack of Communication Skills
Opportunities
- Available scope for Technical Person
- Increasing of in-housed Factories
- Buyer is moving towards Embellishment Garments
- Ink Manufacturing
- GREEN Embellishment Unit
- Application on Performance Wear
- AUTOMATION
- Global Sustainability Trend
- E-commerce Boom & Print on Demand Business
- Digital Printing Integration
Threat
- Lack of clear understanding of Buyer Requirements among the work force
- FOB or Discount claim
- Energy crisis
- Labor retention
- Fluctuating Raw Material Prices based on Global supply chain process and USD conversion rate fluctuation.
- Global Economic uncertainties
- Regulatory changes
