The readymade garments industry sector is beaming with competition across the globe today. Buyers tend to seek quality fabrics at competitive price ranges, and manufacturers have to meet their expectations. Maintaining a company’s bottom line can be quite challenging. Following the GAP method of analysis can prove advantageous.
Why GAP analysis works for readymade garments businesses
* Supply chain management optimization – Taking analytical decisions at the supply chain stage can help in optimizing operations, raising efficiency, and reducing key expenses. Performing a GAP analysis of your expected and current supply chain performance can enhance decision making.
* Reduction of manufacturing lead times – Long lead times can be quite detrimental to the profitability of a readymade garments company. If you have a target lead time value in sight, conducting a GAP analysis will reveal just how much improvement is needed.
* Reduction of R&D expenses – Research and development is another segment of expenses that need to be monitored closely. If left unmanaged, this expense can sharply eat into your production, supply, and miscellaneous budgets. Following the GAP analysis method can help you bridge the gap between current and intended R&D costs.
* Labor and material cost optimization – If your garment business can put reins on labor and material costs, it will be on the path of sustainable growth. With the help of GAP analysis, you can observe data regarding your fundamental material and labor resource costs. Empowered with analytical data, you can pave the way for better profits.
Apart from experiencing these advantages, turning to astrology can also bring assured success to your business.
Before doing GAP Analysis, try to correct 7 things to keep great wellbeing of readymade garments business says Astro-Strategist Hirav Shah
- Name of the organization : Numerologically and Astrologically it should be with right spellings
- Correct partners : Check the compatibility, strength and weakness of all partners and administrators
3. Percentage of shares of every partners : It should be correct balance with one another
- Registered Address & administrative address : It should be compatible with name of the organization and key people of the company
- Logo of the organization : Logos are not good or unhealthy : rather they are either lucky or unlucky. An all around planned logo provides guidance, confidence, faith, energy and importance. and which means. It additionally adds worth to your whole brand equity.
- Web, Print, Digital presence :
Logo, Colours, fonts, Headings, Images, structure, framework all should be in correct place
- DBA (Brand Name): Doing Business As : Name of the Brand can provides direction to the organization. It can support sales, profit and so on it likewise helps for People, Product and Personal Branding
Try to perform GAP Analysis for your readymade garments business every month. It can be for various aspect of business.
- Sales for Home readymade garments business,
- Advertising for readymade garments business,
- all different products of readymade garments business
- price of the each products for readymade garments business,
- Full existing project or can be done for new project too.
- This analysis can also be done for people of organisation same way with whom you are working
If you need any guidance or having questions related to your readymade garments business, you can have 30 minutes free consultancy with Astro-Strategist Hirav Shah.