Supply chain optimisation boosts VN garment firms' competitiveness
2018-10-01 16:48:31 / VTG - Vietnam Int'l Textile & Garment Industry Exhibition
Investing in logistics and applying lean management are considered two of the solutions to optimise the supply chain, helping domestic garment and textile firms to solve the issues related to warehousing operations to save costs and increase competitive capacity.
The concept of global supply chains is not unfamiliar to import and export enterprises in the context of the Vietnamese economy becoming a market economy and international integration during the past 30 years.
However, most Vietnamese enterprises, especially garment and textile firms, only participate in secondary supply chains with low added-value.
According to Nguyen Van Nam, director of the Research Institute for Brand and Competition Strategy, the outstanding disadvantages of the Vietnamese supply chain are its backwardness and lack of consistency.
At present, only 21 per cent of small- and medium-sized enterprises are part of the global supply chain, while the figure is 30 per cent in Thailand and 46 per cent in Malaysia. The logistics expenses of domestic enterprises is double or triple of those in a number of countries with similar economic conditions to Vietnam.
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Source From: VietnamNet
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