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buying entity with years
A of experience in servicing overseas buyers from USA , Europe , Australia , South Africa and Israel , Nahid Trade International ( NTI ) is represented by its CEO Nipun Nawaz . RULE OF THREE
According to me , the three most important factors to be a preferred supplier are :
• How Well-organized and Established the supplier is , and how many workers and machines it has ; because if it does not have enough workers , it will not manage to finish the orders on time .
• Financial Strength , and if it has any banking issues or not , is also very important . Without strong financial standing , the supplier will not be able to complete orders and even if it does so , there will be a lot of risk involved .
• Reputation and the Past Track Record .
SYNC WITH CHANGING DYNAMICS
The industry is undergoing change to some extent to adjust to the changing requirements of the global apparel trade ! We have become substantially adaptable now and have started accepting more fashion stuffs than before as people are interested in fashionable items compared to the basics . Also we have become a lot more flexible in payment procedures ; we have started accepting contracts , CAD ( Cash Against Documents ), and minimum advance and rest CAD as payment modes . All these changes are in pace with the rapid modifications taking place in the apparel trade globally .
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BIGGEST CHALLENGE !
The biggest challenge is the ‘ Deadline ’! The lack of professional commitment is the main reason behind failures in delivering orders on time , but suppliers in general have a bad reputation sticking to the timelines . Timing is of utmost importance in our business . But it becomes almost impossible to maintain dates with our suppliers , as a result we cannot keep our commitments made to the buyers , resulting in delayed shipments .
THE FUTURE
The future is very good for Bangladesh in garment exports . We are still cheaper compared to many other countries in various product categories . And it is because of this very advantage that we are ahead of our competitors . As per statistics , we are apparently growing every year and if this is the reality , it is very good . But , individually speaking , I think we could have done even better .
ADVANTAGE BD
Cheaper price is the biggest advantage for Bangladesh and this is something which keeps us in the preferred list amongst the buyers . However , one has to understand that we are cheaper only in terms of basic items but when it comes to fashionable apparels , we tend to lose the preferred tag and this is one area , I think , we need to improve a lot .
SUPPLIER POOL
Even though a preferred vendor list can help simplify business and give a sense of stability and continuity in supply , many people argue that a modern business
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shouldn ’ t restrict itself to only a limited number of suppliers . What these people think is absolutely true . All the big brands in this world may give 70 per cent of their production requirement to the preferred suppliers but for the rest , they always opt working with the one who is not in the preferred list . The buyers also like to compare the services of the new suppliers with the regular / preferred suppliers .
BUSINESS POLICIES
Most organizations rigidly follow a suppliers ’ criteria checklist but sometimes vendors ’ interests / policies are quite diverse from some of the businesses ’ core values . In such a scenario , the supplier must always comply with the requisite and laid down criteria ; there is no room to overlook the same .
However , there is a probability of ‘ if ’ here . Suppose a supplier can
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give a very competitive price and with just the perfect products , I may perhaps check its services once with a trial order and if it does a good work without affecting the business , policies can be altered accordingly .
MAINTAINING THE EDGE
To continue being in the preferred list , suppliers have to be more meticulous and sharpen their services in terms of timing and quality . Buyers know the prices very well and if the supplier tries to charge more , this is not going to be acceptable .
To be in the preferred list , suppliers must maintain their timing in every aspect of the production till delivery . When you keep your dates and at the end of the production , you deliver 85 per cent perfect products , buyers will be happy and suppliers would continue to be in the preferred category .
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