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Benchmarking exercise to improve profitability of mills

10
Mar '10
Phiwayinkhosi Ginindza, Chief Executive Officer (CEO) of the Swaziland Investment Promotion Authority (SIPA), during the launch of the benchmarking exercise at Esibayeni Lodge remarked that, in relation to some of the aspects of production, the local textile and apparel companies are quite competitive, but there is still much scope for the factories for increasing profits by reducing cost.

He said that the Ministry of Commerce and Industry wished that the exercise would help in increasing the competitiveness of the local textile and apparel industry, which in turn would lead to sustainable employment opportunities for Swazis.

Ginindza divulged that, though initially many of the factories were not certain as to whether they wished to be a part of the exercise, but ultimately nine of them did participate, and praised them for the same. He also added that, he understands that it is not easy for any factory owner to lay their factories and its operations open for evaluation by a stranger.

Confidentiality agreements have been signed by TechnoServe with all the participating factories and also with the consultants, who were engaged to work on the project, he said, and added that this was done with a view to develop confidence amongst the factory owners regarding the process.

Ginindza said that as signified by the benchmarking exercise, some of the factory managers believed that people who are not hired by the factory could not in any way assist in adding value to the factory operations.

According to Ginindza, for those who have not participated, it was not a positive situation, as those factory managers missed a chance of having honest discussions regarding the modes for betterment of their operations and thereby of making profits.

He further added that, prospects of partnering with TechnoServe were currently being reviewed by the SIPA, which aims to introduce benchmarking as an annual exercise.

Fibre2fashion News Desk - India


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