Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Rubana Huq thinks that effective B2B link is one of the most effective ways ahead to retain and achieve better position in apparel industry.
BGMEA president came up with the views at a recent virtual discussion organised by the Hongkong and Shanghai Banking Corporation Limited (HSBC), Serai Limited and BGMEA.The virtual webinar was attended by members of BGMEA, HSBC customers, regulators, apparel buyers of various countries to discuss Bangladesh’s apparel Industry, global apparel demand landscape and technological penetration under the current context, said a HSBC press release.
Speaking at the programme, Rubana Huq said that industry can only retain and make its position better by restructuring its capabilities, adapting to the new consumerism, responding to needs of lean manufacturing, reduced lead time, and online engagement.
At the programme, discussants also talked about HSBC’s new technology subsidiary ‘Serai’. It is a platform that brings together buyers and suppliers to build trusted relationships, with an initial focus on the garment and apparel industry.
The platform allows industry participants to share relevant data in a highly secure manner with their partners and access a range of digitals solutions.
HSBC Serai and the BGMEA brought together industry leaders from across the apparel ecosystem to discuss how the demand landscape is changing, why Bangladesh is such a unique destination.
Chief Executive Officer, HSBC Bangladesh Md Mahbub ur Rahman said that responsible and sustainable supply chains are becoming increasingly important as consumers’ choices are coupled with both innovations and disclosure.The Serai platform is aiming to be an effective conduit for industry players to an open source platform with a shared approach.
This will ultimately enable the apparel industry to reduce duplication and costs, re-build trusting relationships and make faster and better trade decisions, added Mahbub Rahman.
The discussants also said that the current state of mass disruption in global apparel presents an opportunity for the country to reinforce its position as a leading apparel exporter.
Bangladeshi manufacturers can embrace these changes, and move to new ways of working, in order to capture more business from buyers and market shifts.