Our research shows that Bangladesh is generating 83% revenue a year. But according to revenue, our productivity is very low. Only 40% whereas other countries’ productivity is huge.
Market share research shows that Bangladesh has grabbed 2nd position by holding 6.5% market share. China has grabbed the first position in the market by holding 34.5% share. Which indicates a huge difference.
According to productivity Turkeys has grabbed the attention of 70% which is huge, China 65% but Bangladesh’s productivity is 25% less than China. We are comparing with China because according to market share we are competing with each other.
The reason behind low productivity is less integration with technology in RMG sectors. Our Inspiration behind garment automation is creating tech awareness.
Recent news indicates that Bangladesh made garments price has dropped 1.61% in the last 4 years. Workers’ wages are increasing by 51% where their efficiency is low as well. Also, production cost increased by almost 20%. On the other hand, the gas price is on the verge of increase. Which will create a big impact on our RMG sectors. Because of this condition and competitive market the target of 50 billion export by 2021 can remain untouched.
All these facts inspired us to focus on our RMG sectors. Because we always wanted to be the solver. We took initiatives to built such products which surely can increase RMG sector productivity up to 10-15% if properly used.
According to our research and recent phenomena, we have come to the conclusion that RMG sectors need to get integrated with technology to increase their productivity and efficiency. According to the President of BGMEA Rubana Haq, Increasing efficiency is a must to enhance productivity without changing the resource. The technology-based Production house has more visibility over its production, has more control over cumulative production errors that can easily track wastage and positively optimize efficiency to make garments reach globally appraisable.