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Identifying hidden costs prove vital for organizational functioning
04
Aug '09
The fundamental for every textile business is to identify the market expectations. Products that fulfill the customer requirements reap high sales volume. Most of the companies hardly have a margin for prices of textile products.

Only a few companies succeed in yielding a significant advantage in sales price on the market-or to buy the raw material at a much lower price than the competitors.

Success of a company depends on the quality of the textile products and the excellence as well as reliability of the manufacturing process. The fundamental aspect of any manufacturing process is its cost.

It is vital to consider the accumulating costs over the life cycle in a textile mill. Many expense factors exist in the product life cycle such as costs for acquisition, installation, maintenance, service, repair, operating, the influence on costs for raw materials like fibers and yarns and the production waste, environmental costs, costs for unscheduled repair, disposal, staff and so on.

Investment decisions should be taken, considering all the costs. Good analysis brings out all the hidden costs, which is otherwise overlooked.

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Fibre2fashion News Desk - India

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