X T I L E T E E Journal Of Textile Science
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ile Science Colovic, J Textile Sci Eng 2014, 4:6 DOI: 10.4172/2165-8064.1000173 xt urnal of Te & En gineering Journal of Textile Science & Engineering Jo ISSN: 2165-8064Opinion Open OpenAccess AccessThe Garment Manufacturers Risk Assessment – Swot AnalysisGordana Colovic *The College of Textile - Design, Technology and Management, Belgrade, SerbiaIntroduction • Exceeding the requested date of making Risk is defined as calculation forecast emergence of negative events • Not acquiring the quality of clothing
(hazards) that cause loss or calculation forecast emergence of positive Tracking disorders and disturbances in production, theirevents (opportunities/chances), which bring us benefits [1]
systematization and statistical methods can lead to the sizes which Risk is a condition in which there is a possibility of negative belong to risk and can be included in the calculation. The risk maydeviations from the desired outcomes that we expect or hope will appear:happen. In terms of business, risk is an unfulfillment of desired • Because of placement of low bids in the market andbusiness objectives and it must include threats and opportunitiesfrom the environment that can potentially contribute to the growth • In production compared to the size of the series that is produced
and development of the company, but prevent development, and thus It is necessary to do SWOT (Strengths, Weaknesses, Opportunitiesendanger the very survival of a company. The risk, in the broadest sense, and Threats) (Figure 1) analysis in order to get marketing weapon andis a particular danger, uncertainty, loss, or the uncertain future event overcome all existing problems, which means to take all advantagesthat may have unintended consequences. The concept of risk comprises and eliminate weaknesses of the company. It is possible to point outthree elements on the Table 1
solutions and consequences, as well as to show how a fashion industry Risk consequences on the planned garment production are [2]: should get better with the help of this analysis. SWOT analysis must be • Exceeding the framework of the assessment of production summarized, specific and to analyse key questions of each company but costs, not ad-hoc suppositions that do not point out future actions. SWOT analysis is the method of strategic planning that enables analysis of Item Elements Chance Time estimates and combining of internal factors with information from Risk The perception that something might happen Possible Future external sources on the market and in business environment
Issue Probability that something happens Definite Future Incident The consequences of what might happen Definite Past Internal estimate as well as analysis of strengths and weaknesses in garment manufacturer refers to factors that can be controlled within the Table 1: The concept of risk comprises elements
organisation. That concerns not only material expenses and technical- technological equipment but the reputation of the firm and existing brand, innovative activities of designers’ team and marketing service
External factors Internal factors - Economics - Property While doing an internal estimate there are hindered factors such as - Technology - Human Resources subjectivity, lack of trust, running away from reality. Weaknesses - Political - Relationships - Social - Internost cannot often be overcome in a short period of time
External estimate implies those possibilities and dangers that will have a main influence on business results of a textile firm. New fashion - personal - personal trends, i.e. new designs that should be accepted, should also bring experience experience new results. The problem which exists in garment industry is that we - magazines, books - reports - reports - seminars analyse and follow trends that have already taken place on the fashion Top - seminars, trainings manager - notes scene so while a collection is being accepted and the preparation for - exchange of - other managers production is getting completed, a new fashion demand is here, and knowledge between - insiders colleagues - outsiders the old one hasn’t been accustomed to yet. External estimate deals - Board of Directors - other sources with advantages and dangers connected with a market, technology, - employees scientific-technological development, changes in micro and macro - other sources - Understand environment, economy, ecology
- Interpret - Decide *Corresponding author: Gordana Colovic, The College of Textile - Design, - Vision Technology and Management, Belgrade, Serbia, Tel: +381 62 802005; E-mail: - Missio [email protected] - Goals Received November 07, 2014; Accepted November 09, 2014; Published November 11, 2014 Citation: Colovic G (2014) The Garment Manufacturers Risk Assessment – Swot PBS Strategy Analysis. J Textile Sci Eng 4: 173. doi:10.4172/2165-8064.1000173 Copyright: © 2014 Colovic G. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted Figure 1: Production-business system (PBS) environments. use, distribution, and reproduction in any medium, provided the original author and source are credited
J Textile Sci Eng ISSN: 2165-8064 JTESE, an open access journal Volume 4 • Issue 6 • 1000173 Citation: Colovic G (2014) The Garment Manufacturers Risk Assessment – Swot Analysis. J Textile Sci Eng 4: 173. doi:10.4172/2165-8064.1000173 Page 2 of 2 STRENGTHS WEAKNESSES - Tradition in business - Very high price because of fast changes - Futuristic design - Small series with a large number of models (three - Good image to five articles in work order) - Reaction to a new fashion trend - Manufacturing of only three sizes - Quality of textile fabric and production - Bad covering of foreign market - New ergonomic form of production model - High price of energy - Short period of development of a model and - Condition and price rise of raw material because of short period of duration introducing VAT - Industrial training conducted by specialist - Short time for optimal of products - Establishing "show room" objects - Ecological requirements OPPORTUNITIES THREATS - Consumers' wish for new designs - Import of similar articles of clothing at low prices - Marketing of products into a new market - Competitors have lower price - Making e-mail catalogue - Competitors have better distribution net with more - Value of labour sales places - Production of garments Made-to-Measure - Quick obsolesce of technology - Promote technology transfer and knowledge - Labor market rigidities - Cooperation with educational institutions - Lack of skilled personnel Figure 2: The SWOT analyses for Ramax company
There comes the case when one textile firm, depending on its ability development of products and production technology get into dangerto follow fashion trend “blindly”, sees the production of the very up- and can’t “keep pace” with fashion trend although they try hard. A goodto-date design as advantage, whereas the other textile firm that has distribution net, besides placing goods on the home market, shoulde.g. classical brand in clothing sees the same fashion trend and a new think of doing it on the foreign market. Because of poor economicdesign as danger [1]. power and large competition on the world market there are possibilities for many fashion companies to fail, therefore a good distribution net Within a fashion company, paying special attention to the problems should enable joint breakthrough for many fashion companies to theof designing a new product, it is necessary to observe within internal foreign market, as the only real possibility [3]
estimate first of all skills, training, attitude of marketing team, fashiondesigner and technologist and then the production management Referencesstructure of the company itself (Figure 2), current systems (CAD/ 1. Paunovic D, Colovic G (2005) The application of SWOT analysis in designingCAM systems), relations and communications among people. In of garments. Management 37: 71-77
order to manufacture an adequate product real expenses must be 2. Colovic G (2012) Strategic management in the garment industry, Woodheadestimated, especially textile fabrics and quality of manufacturing Publishing, India
garments, in order to lengthen a life cycle of a fashion product and not 3. McNamee PB (1985) Tools and Techniques for Strategic Management
to neglect technical-technological capacities of the firm. The rhythmof technological development is faster than the development of humangeneration (life time for technological generation is four to five years,which is seven to eight times less than an engineer’s length of servicein clothing industry), so permanent training of production-technicalemployees is necessary
Within an external estimate, when analysing possibilities anddangers of a fashion product that should be designed and redesignedin accordance with a fashion trend, it is necessary to study the verysituation on the market, to determine target groups and categoriesof consumers. Garment manufacturers who do not invest in the J Textile Sci Eng ISSN: 2165-8064 JTESE, an open access journal Volume 4 • Issue 6 • 1000173
E.g. classical brand in clothing sees the same fashion trend and a new design as danger [1]. Within a fashion company, paying special attention to the problems of designing a new …
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