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buying house



Kirjoittanut: Sadman Shahid - tiimistä Ei tiimiä.

Esseen tyyppi: Akateeminen essee / 3 esseepistettä.
Esseen arvioitu lukuaika on 5 minuuttia.

Introduction

I am Sadman Shahid. I am from Bangladesh, Bangladesh is one of the best in the world for RMG(ready-made garments).  I also work in buying house. Our company name is penny design knitwear. It mainly works in winter dresses. Here my position is jr. merchandiser. It is known to all, that buying house plays an important role in our RGM sectors, as a huge amount of order is coming into our country through buying house. Here I will discuss the main functions of buying house and also discuss the merchanding process, the responsibilities of the merchandiser, the workflow of the merchandiser, and the merchandiser executing the order.

 

The merchandising persons are especially involved in the garments trade. The term merchandising has been derived from the merchandise. Merchandise means goods that are bought and sold.

 

How to grow the business:

In this business, we can grow many ways like marketing online to show samples for buyers and contact buyers for necessary approvals. In our company need make a web site for our company. who is our buyer, sent sample and tell this product description and give some discount.

 

Experience with my uncle

My uncle gave me some ideas on how can I do this business and I always stay with him to collect knowledge. How can he continue this business how can manage these customers and also how can he maintain the whole business? When he went any garments I always go there because here I know how can he deal with the garments section.

 

 

What did I do their

I was working there as a junior merchandiser, and I used to build a relationship between buyers and sellers for example.

 

  • Providing product samples to the buyer and notifying the seller of feedback (Via Email)
  • Plan product range and prepare sales and stock plans in conjunction with buyers.
  • Liaising with buyers, analysts, storage, logistics, and distributors.

 

As a merchandiser, I have learned a lot while carrying out my responsibilities. I learned from here how to find and bring in new customers as well as connected with them and how to negotiate with them. Maintain and updated sell records and also maintain storage, logistics, and distributor support.

 

 

Who did I sell

In our company mainly sell winter product. Most of the buyers are foreign. We are export this product in many country. We sell Sweaters, Gloves, jackets, Jeans, Scarf, and Socks. I also maintain product quality as per buyer requirements. We highly maintain the buyer requirements.

 

What experience I had with customers

With customers, I had many experiences sometimes I deal with customers and they told me how were the products what were the design, and what fabric. Sometimes we lost customers because of the market competition. Some other people give their low price. But we cannot give a low price because of fill up their requirement.  Sometimes buyer are directly contacting with the manufacturer.

 

Who else did you work with

In our company, I always work with my uncle and in here there are many people who work here. I also have good communication with them. They are friendly person because we also work here with fun. Because of that time, we cannot feel any pain. In here also have a team I also learn here how to teamwork.

 

What was that like

Our company is a multinational company as well as known in Bangladesh. Most of the people know about this company. We mainly sell ready-made garments. We export this product to the USA and European markets.

 

Experience did I have

In my experience, I have done customer deals, quality checks, product ranges, and prepared sales and stock plans. In this work, I also gather much knowledge because here handle the customers and also communicated with them about products. Here I also learn teamwork and how to become good at teamwork.

 

Important my reflection

In my reflection, buying house business is a very important business in our country. Almost above 60% buying houses in our country. Most of the buyer want to come to our country they want to visit factories and fashion houses. Buying houses conducting fashion weeks, and garments trade fairs in many countries.  In my view of point, the market is spreading day by day because new buyers are coming through buying house.

 

Bangladesh is 3rd one of the top ready-made garment manufacturing countries in the world.in 1831 in New York, the first ready-made garment factory was published. The rise of global markets has increased the role of trade in the world economy and made industrialization an integral system of global trade and goods. The phasing out of MFA will lead to a more efficient global restructuring of the textile and clothing industry. The RMG industry in Bangladesh is facing new and unique challenges after the introduction of the Textile and Clothing Agreement (ATC). The phase-out was expected to negatively impact the Bangladeshi economy. But recent data reveals that Bangladesh has successfully absorbed the shock and indeed RMG exports have increased significantly. Due to several steps taken by the industry (e.g., successful product and market diversification, increasing backward integration, high investment levels, and supportive policy measures), Bangladesh still remains competitive in RMG exports even in this next phase. period, but more needs to be done to maintain competitiveness in the RMG market (e.g. establishment of training and research institutes, sharing of knowledge and technologies) by removing structural barriers.

 

 

The phasing out of quotas for Bangladeshi garment exports to the US market may have particular significance. (Multi-Fiber Agreement) The implications of the MFA are not very relevant to the issue of our $2 billion exports to the US or Bangladesh’s $5 billion exports globally. Rather, it is about how the entire Bangladeshi economy will be affected by the issue of canceling quotas. RMG exports account for about 75% of Bangladesh’s annual exports and directly employ 1.5 million women and indirectly another 8-10 million people. The global apparel trade continues to evolve and the phasing out of quota restrictions and the formation of trade blocs has become a reality. Furthermore, Bangladesh is mired in an intense class struggle centered around the country’s garment industry. Thousands of workers went on strike, blocked roads, attacked factories and other buildings, staged demonstrations, fought against the police and demonstrated in the streets. Every day new strikes are reported in a wide variety of industries, mainly in the ready-to-wear (RMG) sector, but also factory workers, river transport workers, railway workers, journalists, lecturers and teachers. The uprising began on 20 May 2007 with a strike by garment workers in Bangladesh’s capital Dhaka at a small number of factories over a range of issues including arresting workers and non-payment of wages. By May 23, 2007, the fighting had become massive, with many more factories and demonstrations across the city. A large army and police presence around garment factories, in some cases completely blocking and setting up checkpoints at the entrance to export processing zones, temporarily calmed matters; But strikes continued in numerous factories, prompting sympathy strikes and semi-spontaneous protests from nearby workplaces.

 

 

 

Conclusions

Though some of the problems of buying houses are continuing their business it is time for them to take necessary action to ensure their better future. Buying houses has to give priority to building strong relationships with buyers for survival because buyers know the supplier’s way of making products and doing business. Buying needs some training program to strengthen their manpower, which is the key strength of buying house. Buying house act as a buyer to the factory and place order & control the process on behalf of the end buyer/importer. Placing the order, and executing the order in time with proper quality is the main key work of a buying house. So, Building a strong relationship with the buyer as well as the manufacturer is also needed for a buying house.

 

 

 

 

 

Reference

 

Miachula, Montfort and Yongzheng Yang, 2004, “The End of Textiles Quotes: A Case Study of the Impact on Bangladesh”, IMF Working Paper WP/04/08

 

World Trade Organization, 2007, “Trade Policy Review” Geneva. Written by Admin Filed Under Challenges, Infrastructure, RMG The Daily New Age, 19 February 2009

 

Mannur, H.G., 2000 (second revised edition), International Economics, Vikas Publishing

 

House Pvt Ltd., India.

 

Banglapedia- Detail information for RMG sector.

 

www.epzbangladesh. org. bd

 

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