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Lead Time Management in Garment Sector Essay Example

Lead Time Management in Garment Sector Essay European Journal of Scientific Research ISSN 1450-216X Vol. 33 No. 4 (2009), pp. 617-629  © EuroJournals Publishing, Inc. 2009 http://www. eurojournals. com/ejsr. htm Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth Nuruzzaman Department of Marketing, University of Rajshahi, Bangladesh Ahasanul Haque Department of business Administration, International Islamic University Malaysia, Box No. 10, 50728 Kuala Lumpur, Malaysia Abstract Bangladesh has emerged as an important supplier of quality readymade garments in the global market. The spectacular growth of garment sector in Bangladesh in recent years has dramatically changed the landscape of export composition of the country. Once heavily dependent on exports of primary products lead by Jute, the economy of Bangladesh is now experiencing almost 76% export contribution from readymade garments (RMG). The sector has now occupied an important place in Bangladesh national economy. Nevertheless, all is not well in this sector. It faces numerous challenges and it is now on the crossroad with the phasing out of quota system, GSP facilities and new provisions of WTO. In this study attempts have been made to find out the ways to face the competitive business environment by the efficient management process towards the lead time reduction. The main purpose of this article is to analyse the business process of the garment sector to find out it’s lead time minimization process. The study has been concluded by the development of a new diagram of business process with the outcome that the other management process in the supply chain is an important factor rather than process management in the lead time minimization process. We will write a custom essay sample on Lead Time Management in Garment Sector specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Lead Time Management in Garment Sector specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Lead Time Management in Garment Sector specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Keywords: RMG, Lead Time Minimisation, Management process, Supply Chain. Introduction The spectacular growth of garment sector in Bangladesh in recent years has dramatically changed the landscape of export composition of the country. Once heavily dependent on exports of primary products led by Jute, the economy of Bangladesh is now experiencing almost 76% (Nuruzzaman, 2005)export contribution from Readymade garments (RMG). The sector has now occupied an important place in our national economy. With the blessings of cheap labour, pressure for globalisation of production based on location economies as well as the favourable treatment from developed countries, Bangladesh and some other developing countries have gradually become the global players in international trade in RMG. However, the Multi-fibre Arrangement facility, which was extended to favour the least, developed countries in exporting garments and textile has phased out after 2005. Consequently, the beneficiaries of MFA, including Bangladesh are facing severe competition in the unprotected world market. At present, this sector is facing numerous challenges nationally and globally. Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth 618 Bangladesh is one of the leading readymade garments exporters in the global market. The changing global environment in business and the development of GATT into WTO raises many important questions regarding increase in export in the Textile and garment sector for a developing country like Bangladesh. To survive in this sector Bangladesh must take immediate pragmatic policies enabling itself to compete more efficiently in the changing business environment through minimisation of lead time. In the beginning of 1990s, the lead time was 120-150 days (Azad, 2004) but in 2007, it was reduced to 30-50 days, i. e. at present it is 90-100 days (Khan, 2007). China requires only 30 days due to their textile and other backward linkage facilities as well as export friendly management and supporting policy. It is 45-60 days in India and Pakistan (Nuruzzaman, 2008). Therefore it appears that in the present situation Bangladesh RMG industry will not be able to compete successfully in the international market for the existence of unusually long lead time. This is specifically the main problem area of present research. To compete successfully in the fiercely competitive post-MFA global free trade market, the manufacturers must be adequately equipped with the latest knowledge of scientific management in minimizing lead time and other management deficiencies (Nuruzzaman, 2007). We have to give all out support o this sector and have to build up the backward linkage industry to reduce the dependence on imported raw materials and to minimize lead-time. Therefore, we need to find out some alternative supply mechanism to minimize lead-time. Here in this study steps also will be taken to focus on the lead-time management by presenting some successful and unsuccessful operations in the lead-time management process. The purpose of the present study is about analysing the existing situation specially the lead-time management in the RMG sector of Bangladesh. Theoretical Concepts RMG Business Structure Readymade garment is a labour intensive industry and relatively simple technology compared to other high-tech industries. The RMG manufacturing units are like tailor’s shop; getting order from the foreign buyers and then import raw materials specially fabrics from the foreign suppliers or sometimes buy from the local market as per order, then manufacture garments and supply those to the buyers (Munir, Q. and Salim, R. 2000). Figure 1: Business Structure of Bangladeshi RMG Industries Foreign buyers Supply of finished goods Local raw materials suppliers Collect raw materials Garments company (Manu facturer) Information flow Foreign raw materials suppliers Source: Nuruzzaman, 2007 In the RMG sector, the Manufacturer Raw materials Supplier relationship is different. In this industry the main raw materials are fabrics (Cloths) and few accessories are like button, collar etc. About 80% of the suppliers of accessories are local and accessories suppliers are not responsible to increase lead time. The lead time is getting higher due to import of fabrics mainly from China, Indonesia and India. The total average time to import fabrics from abroad is 50-65 days and this is the 19 Nuruzzaman and Ahasanul Haque main reason for long lead time (BGMEA research cell). In the process of import of fabrics from the foreign suppliers lies the main reason for long lead time. The process is visualised in fig. -2 below. Figure 2: Business structure and raw materials collection process Buying house Foreign buyers Local raw material suppliers Garments company (Manufacturer) For eign materials suppliers raw Problem area Order flow Collect raw materials Final product supply flow Information flow Source: Nuruzzaman, 2007 Lead Time Theory Todays customers around the globe demand product as they want it, when they want it, and at the best possible price. In todays highly competitive global marketplace they are placing greater value on quality and delivery time. Manufacturers similarly have begun to place more value on quality and delivery time and companies are trying to gain a competitive edge and improve profitability through cutting cost, increasing quality and improving delivery. However it is safe to say that the more competitive the industry, the more shortened lead times will help. In competitive industries, short lead time will differentiate a company from its competitors, leading to increase sales (Charies J. Murgiano, CPIM). Lead time is one of the main competitive factors among companies. The ability to deliver quickly influences export, sales and thereby revenue. The definition of lead-time can vary, depending on what part of the company is focused upon. It normally includes all activities from start to end. Leadtime begins with the first receipt of a customer order and ends with customer receipt of the product or service. Everything in between is the lead-time (2004, elsmar. com). Lead-time refers to the time lag between placing an order and receiving it (Li, 2000). In this study lead-time is defined as the time it takes from getting order from a customer and received the delivered product by that customer (Azad, 2004). At present, the average lead time is 90-120 days. It is sometimes 100-130 days. Total lead-time is made up of time devoted to processing orders, to procuring and manufacturing items, and to transporting items between the various stages of the supply chain. However, lead times can often be reduced if items are transported immediately after they are manufactured or arrive from suppliers (David Simchi et al. , 2000). Lead-time typically includes two components: Information lead times (i. e. , the time it takes to process an order) and Order lead times (i. e. , the time it takes to produce and ship the item). Information lead time can be reduced by using very sophisticated and modern communication system while Order lead time can be reduced through efficient supply chain management (Simchi-Levi, David, 2000) A researcher named Marc Smith explained lead time in two ways (www. lsmar. com, 2004). First, Customer lead time, which refers to the time span between customer ordering and customer receipt. Second, Manufacturing lead time, which refers to the time span from material availability at the first processing operation to completion at the last operation. In his paper Marc Smith developed theories for the reduction of lead time in the equip ment manufacturing company specially in vehicle manufacturing company. It is also applicable to the RMG sector. In the lead time reduction process, Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth 20 identifying the beginning of the process and walking through the process is very important. In the RMG sector after order confirmation the process begins by sending information to the suppliers for raw materials (fabrics + accessories) and the process run through shipment of final product and received by the buyers. The whole of this process is comprised of the following steps order submission, scheduling sequencing, manufacturing and distribution. A manufacturer may be able to reduce lead time by taking some strategic measures in all of these four stages. From the above theory it is clear that the total lead time is customer lead time. Therefore we can write that; Customer lead time = [{Information lead time} + {Order lead time}] Total lead time = [{Information lead time} + {(manufacturing lead time) + (shipping time for import fabrics) + (Shipping time for export final product)} (Note that, Shipping time for import includes shipping time, unloading time and transport time from port to manufacturing point. Shipping time for export includes manufacturing time for final products and shipping time for export) Objective of the study The purpose of the present study is about analysing the present situation specially of the lead time management in the present business process of RMG export from Bangladesh. In view of the above purpose the specific objective of the study is to focus on reducing the lead time in relation to the business process and supply chain management. However the objectives of this study are; 1) To analyse the order lead time management process and 2) To develop a new business process to minimization of lead time Research Methodology The study is based absolutely on primary data. The primary data have been collected through free discussion and interviews with the key personnel of different company. Primary data have been collected from 50 Bangladeshi RMG units including 5 leading garment factories of Dhaka City on the basis of structured questionnaire designed in the light of the objective of the study. In this study the sample units have been selected randomly but 5 leading factories purposively. Interviews have been taken from Managing Directors, Managers and other officials of the merchandise department. Secondary data were also collected from some reports, articles, various stuffs that were provided by the companies. Collected literature, data and information have been analyzed in line with the objectives of the study. In this study conceptually developed some model, Lead time measurement equation have been used. As a real example, business process of a sample company has been discussed with the lead time measurement equation. Qualitative research method and various statistical tools like averages, percentages, growth rate etc. have been used in this study to interpret and analyze the collected data in the descriptive way. Findings and Analysis The RMG industry of Bangladesh still plays the role of tailor in the garments business. The required fabrics and limited accessories till now come from abroad. The industry is heavily dependent on imports and had to spend about 55-75 days to import fabrics from abroad (Nuruzzaman, 2007). This backdrop is the main reason for long lead time. Bangladesh garment export in volume is increasing @ 15-20 percent for the last 20 years, whereas Bangladesh RMG are depending only on Chittagong port (Nuruzzaman, 2007). The facilities of Chittagong port have not increased at the same rate. The containers kept stuck up in the port and 621 Nuruzzaman and Ahasanul Haque many containers remain jammed for 15-20 days, which is required to be released within three days. If the raw materials remain idle in the container at Chittagong port for 10-15 days, the garment industry would definitely face a serious negative impact (Kutubuddin Ahmed, 2002). According to an estimate, it takes about four days for goods to reach Chittagong from Singapore. But in a very sharp contrast, it takes about 18 to 19 days or nearly three weeks on average for the same goods to travel to the inland container depot (ICD) at Kamalapur in Dhaka. Besides the dilatory and cumbersome customs procedure and port operations also significantly delay the movement or release of goods. In Chittagong port it takes about 6 days to unload goods from a ship whereas for the same goods it takes just few hours in Singapore (M. Taheruddin,2004). About port management Mr. Anisul Haque, MD of Mohammadi group and former president of BGMEA stated,â€Å" Unfortunately we are spending 15-20 days to receive our fabrics from sea port to our factory and it is playing the main role to increase lead time†. Again to find out the probable causes of long lead time and for the empirical analysis 50 firms including 5 leading garments units have been chosen to collect primary data. They mentioned many causes behind this problem when interviews were taken but in the interview 100% i. e. f the 36 number respondents (Though 50 firms were chosen but 36 firms were interviewed successfully) put their comment on import dependency as a most important cause for increased lead time. Then 91. 66% i. e. 33 respondents on CBW, 75% i. e. 27 respondents on inefficient port management, 69. 44% i. e. 25 respondents on poor infrastructure and 41. 66% i. e. 15 respondents on communication system respectively. The same causes were ident ified in our analysis based on secondary data. This fact enhances the credibility of our findings. At the time of interview, the Managing Director of A. K. J. Fashions limited divided the lead time into three stages as it is illustrated in fig. -3. First stage, from P-Q (Fabrics suppliers – Sea port) the approximate lead time for the first stage is 40-55 days including the manufacturing time of fabrics, then from Q-R (Sea port Manufacturer) the approximate lead time for the second stage is 15-20 days and at last from RMG (Manufacturer Buyer) the approximate lead time for the last stage is 35-45 days. Figure 3: Basic Supply chain of Bangladeshi RMG Industries P Raw material Suppliers Source: Nuruzzaman, 2007 Q Sea Port R Manufacturers M Buyers The present estimated time from point Q to point R is unnecessary. Here the main task is unloading the container and carry it to the manufacturing point. The total procedure can be done by only 2 or 3 days through efficient management in port and good transportation system. But due to inefficiency of port management and poor transportation system it takes 15 to 20. From the above observation it is clear to us that, just for import of raw materials Bangladeshi manufacturers are forced to spend 55-75 days more. So import dependency for fabrics is the main reason of longer lead time. In the present analysis mainly the â€Å"Order lead time† (see the Lead time theory) will be considered and will be shown how can we reduce that time by an appropriate supply chain management. The manufacturers were asked a number of questions emphasizing this theme, how inefficient management in the chain can affect lead-time, and also what the consequences can be. In the interview when it was asked, all the manufacturers responded, order lead time is the main factor behind the lead time problem in the RMG sector. We can reduce maximum. 30 days by taking proper step in the supply chain. Most of the manufacturers responded that lead-time can be influenced if the buyer make contract with the raw material suppliers before giving final order to the manufacturers and if the government bodies take proper measures to increase efficiency at sea port. The Managing Director of Azmat Group stated, â€Å"We generally place order to the fabric suppliers after final contract Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth 622 with the buyers and count 15-20 days to make fabrics. This manufacturing lead time can be reduced by the help of buyers or buying house. They can make ready their required fabrics at first and then they can make contract with us. As such we need not waste 15-20 days for the required fabrics. † Some manufacturers pointed out two main points responsible to increase lead time i. e. shipping time and unloading procedure at port. Some other manufacturers pointed out the poor infrastructure in railway and road transport to move their materials from port to manufacturers factory. They all believe that order lead-time can be reduced if government authorities take proper steps o increase the efficiency of the port and develop the rail and road transport. It seems that the respondents have different but almost same opinions on this issue. A manufacturer, K. M. Fashions Ltd. , expressed his opinion in a more logical way and stated, â€Å"To reduce lead-time effectively we have to reduce import dependency as soon as possible. Immediately we can reduce 30-40% lead time only by proper and efficient management in the supply c hain. † The largest RMG manufacturer Opex group responded, Lead time is generally 90-120 days for the woven garments. But immediately we can reduce 30% of lead time through proper management in supply chain during import of fabrics and 15% would be possible by only developing port facilities. If we develop our textile sector and procure fabrics from the local market we can reduce 60% of total lead time. For the knitwear garments we procure all raw materials from the local market so there is no lead time problem in the Knitwear garments sector. From the above discussion, it appears that the manufacturers of RMG sector mainly face order lead time problem and this problem occurred in the supply chain due to inefficient management. Time consumed in the first four steps in the supply chain is the basic reasons for increasing lead time. It is possible to reduce a major portion of order lead time by improving the other three areas namely, communication, port management and transport management in the supply chain. We can get a clear idea about lead time in the supply chain by considering the equation of lead time and put average estimated time collected from the interviews for each step. We know that; Total lead time = [{Information lead time}+ {(Order lead time)}] Or, = [{Information lead time} + {(time to manufacturing fabrics) + (time to shipment of fabrics)+(time to unloading fabrics and customs formalities at port) + (time to take fabrics from port to manufacturing point) + (time to sample approval and production of final product)+ Time to shipment or export of final products)}] Or, 120 = [{7} + {(15)+ (25)+(14)+(6) + (23)+(30)}] From the above equation, we can say that through the first four stages a manufacturer received fabrics from the suppliers after 60 days on average. Out of this the shipping time of 25 days is constant. There is no chance to reduce this shipping time but we can reduce the rest 35 days. There are two parties and various activities involved between suppliers and manufacturers in the supply chain. It can be seen in the fig. -4 broadly. The activities and time consumption area have been illustrated here through four boxes (A-D) or stages. Figure 4: Lead-time and fabrics importing process A B C D Manufacturin Suppliers Manufacturing g fabrics Shipping time (Receive order time shipment of fabrics) Unloading Manufacturer Unloading fabrics at sea s plant/ transportation time port warehouse Source: Nuruzzaman, 2007 623 Nuruzzaman and Ahasanul Haque After final contract with the buyers, manufacturers first place order to the foreign fabrics supplier (A). Then the supplier manufactures fabrics (B) and send fabrics by shipment. After a certain time the ship reaches at the port (C). Here after unloading and completing some custom formalities fabrics are sent through train or road transport to the manufacturers production-plant/warehouse (D). For this total process from A-D manufacturers need 55-75 days. At the time of import a proper management in the supply chain can reduce 30-35 days. The rest of the time of 25-35 days is needed only for shipment. It is known from the interview that most of the buyers have no regional offices in Dhaka. These are either in Bangkok or Singapore. One of the largest European garment sub-contractors based in Dhaka is Hennes Mauritaz (HM) from Sweden (Asia invest, p-11, Sector 4. ). The regional offices and the buyers resident in Dhaka can build a stock of the required quality of fabrics in advance before making final contract with the manufacturers. It will definitely reduce the manufacturing time. Again the proper and efficient management at port and good transportation system can reduce time to receive raw materials from port to manufacturing plants. But if we avoid fabric import altogether then we can reduce 55-75 days from the total lead time and we will be able to assure export of RMG products by 45-60 days regularly. Landmark group is a leading garment manufacturer in the knitwear sector of Bangladesh. It states, we do not face lead time problem for our RMG products. We generally take 45-60 days to export our product because we need not to spend any time to import raw materials. We procure all knit fabrics and accessories from the local market. Therefore in conclusion we can say that by efficient supply chain management we can reduce 29% of total lead time. But to survive in the competition we have to reduce lead time by minimum 50% and we can reduce 55-60% of total lead time by avoiding import and abolishing import dependency attitude. Analysis the lead time management of a model Company (Sharmin Group) The company’s some successful and unsuccessful business process with different buyers have been analysed here to have a clear idea about the way to minimisation of lead time. Generally, after getting final order, the company collects fabrics as per buyers direction from the foreign suppliers. After collection of fabrics they prepare sample as per design. Then after approval of the sample the company goes for mass production and shipment to the buyers. To complete the whole process the company generally takes about 90-120 days but sometimes for some buyers it takes about 110-140 days. There are also some buyers who complete the whole process by only 50-60 days. The company takes 45-50 days in all to approve the sample and finish the production following the sample approval process. We can see the sample approval flow chart in the fig. -1 of Appendix-1. Some buyers like BMB Apparels follows this sample approval flow chart, but most of the buyers even follow shorter processes. The interview was taken very closely with the Managing Director of Sharmin Group. At the time of interview he was found scared for the possible awful situation in the post MFA period. He stated, we have all but just for want of fabrics we are going to face stiff competition. What he said about the business operations of the company could be summerised as follows. After getting the final order, the company communicates with the suppliers through e-mail and over telephone. For this task the company spend few days. Mr. Hossain said that they were not worried about the information lead time. They generally take 5-7 days for this process. He said, â€Å"In the garment business suppliers are not permanent, we had to communicate with one or more suppliers for fabrics in time after getting final order. A good numbers of accessories are procured from the local market. So e-mail and telephonic communication are sufficient for the RMG companies. At the time of interview it was gathered that the company was facing problem mainly in the supply chain i. e. order lead time for importing fabrics. The company, Sharmin group also faces problem in the sample approval process. In the supply chain the company had to spend 45 days on an Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth 624 average which is not negligible . Again, the sample approval process is also cumbersome. It takes enough time and thus contributes to increase lead time problem. Mr. Hossain expressed that the company could reduce a certain portion of lead time by taking some appropriate measures but 60% of lead time can be reduced by avoiding import dependency and by considering alternative source of fabrics supply. In Fig. -2 of appendix-1 the estimated time can be seen at different stages of the manufacturing process of Sharmin group. The estimated time was shown according to the information delivered by the Managing Director of Sharmin Group. Most of the buyers follow in this process to purchase garments from this company. At the time of our discussion on the present situation of the RMG business, Managing Director of this company told us that he was afraid for the post MFA period. The company was certainly going to lose its business due to long lead time in the post MFA period. He urged that immediately we should take some proper measures to reduce lead time. At the time of interview it has been informed that the company was doing business successfully with a European company where lead time was in between 45 to 60 days. It is the competitive lead time in the RMG sector of Bangladesh. In the figure-2 of Appendix-1 total business process of Sharmin group has been visualised through A-F stages. From this figure we can get clear information about the estimated time in six different stages like, A-B, B-C, C-D, D-E, E-F and from F to Buyers. The total lead time in this process for Sharmin group is 120-140. There is a buyer named BMB Apparels doing business with Sharmin. It strictly follows 100% of the sample approval flow chart the RMG business process like the figure-12 (see appendix-1). Therefore its average lead time is 130 days. But the other buyers like JC Penny, American Eagle do not maintain the sample approval flow chart of fig. -1(Appendix-1). They approve sample in a normal procedure and spend 5-10 days for approval. In this case they take help from local office or local agent. Therefore their average lead time is in between 90-120 days. At present the company is doing business successfully with Corona maintaining a minimum lead time. In this regard Mr. Hossain urged, â€Å"we have to consider this success story with the buyer like Corona and find ways and means to deliver garments product to the buyer by 45-60 days†. When asked for the reasons for the success in the business to the Managing Director, opined his success is mainly due to the procurement of fabrics from the local market. The buyer Corona at first makes their fabrics ready then contact with the manufacturer for order placement. The buyer takes just one or two days for sample approval. As a result the company is able to cut down the lead time by about 60-70 days. According to the figure-2 (Appendix-1), the average information lead time is 6 days and the average order lead time is 129 days for the Sharmin group. So reduction of order lead time is the crux of lead time problem. Out of 129 days, in the supply chain, total average lead time is 52 days. By taking some proper measures like making fabrics available in advance, developing inland transportation system, improving management efficiency at port etc. , it is possible to reduce about 23 days in B, C, D and E stages of supply chain. In the supply chain the rest of the time is for shipment. The company can cut down this time only by avoiding import. It is also possible to reduce 30 days in sample approval process by adopting normal sample approval process performed by other buyers or by encouraging the buyers to open a local office in Bangladesh. Considering the equation of lead time and putting value in that equation three types of buyer of this company can be analysed. First time we are considering BMB apparels from UK. We know that; Total lead time = [{Information lead time}+ {(Order lead time)}] Or, = [{Information lead time} + {(fabrics manufacturing time) + (fabrics shipment time)+ (unloading and transportation time) + (sample approval and production time of garments product)+ (shipment time for export of final products)}] = [{6}+ {(11) + (24) +(12)+(35+12)+(30)}] So, total average lead time = 130 days In this study for the BMB buyer, manufacturers order lead time is 124 days. In the supply chain the company spends totally (11+24+12) = 47 days for import of fabrics where 20 days can be saved. 625 Nuruzzaman and Ahasanul Haque Time for the last two stages is common for all manufacturers. Here manufacturer spends (47+30) = 67 days where maximum time is consumed by sample approval. The company spends about 35 days for sample approval process for this buyer. It is unusual. So here sample approval process is the main reason for increasing lead time. Secondly, the buyer JC Penny from USA has been considered. For this buyer, Total lead time = [{Information lead time}+ {(Order lead time)}] Or, = [{Information lead time} + {(time to manufacturing fabrics) + (time to shipment of fabrics)+(time to unloading fabrics and customs formalities at port) + (time to take fabrics from port to manufacturing point) + (time to sample approval and production of final product)+ shipment time to export of final products)}] = [{6} + {(12)+ (25)+(14)+(6) + (23)+(30)}] So, total average lead time = 116 days Now form the above calculation it is clear that doing business with the buyer JC Penny, USA, manufacturers order lead time is 110 days. In the supply chain the company spends totally (12+25+14+6) = 56 days for importing fabrics where about 24 days can be reduced. Times for the last two stages are common to all manufacturers. Here manufacturer spends (23+30) = 53 days. Where maximum 10 days is spent for sample approval. It is a normal process. So in the above calculations it has been observed that the four values as underlined above are the principal reasons for the increase of lead time. Thirdly has been considered the buyer of ‘Corona’ from Italy. For this buyer, Total lead time = [{Information lead time}+ {(Order lead time)}] Or, = [{Information lead time} + {(time to sample approval and production of final product)+ (shipment time to export of final products)}] = [{1}+ (17)+(30)}] So, total average lead time = 48 days. Here in this case the manufacturer does not have to import fabrics for Corona. The buyer himself supplies fabrics from their own textile mill located in Bangladesh. For this reason the order lead time is only 47 days. After getting order the company spends totally 48 days in the supply chain to export final products to the buyer. In this case as there is no need to import of fabrics the RMG company does not face any manufacturing lead time, transportation related problem and unloading related problem at port. Therefore the manufacturer does not have any problem in the supply chain. We know time required for the last two stages are common to all manufacturers. So there is no scope to reduce this time. Here buyer (Corona) communicates with the prospective manufacturer over telephone and takes the sample to the manufacturer physically and approves the sample within two/three days. For that reason information lead time and sample approval time are very minimal in the total lead time. From the above discussion and analysis of some buyer’s success and other failure in reducing lead time, one can draw a conclusion that if Sharmin group could avoid import and collect fabrics from the local market, the lead time would be between 45-60 days. It will be more competitive if the buyer would open a local office in Dhaka. This will minimise sample approval process. While integrating all the findings from the survey and the case study we can draw a conclusion that in the current RMG business manufacturers are facing lead time problem due to import dependency i. e. import of fabrics from foreign market. This problem is exacerbated due to inefficiency in the supply chain management. Lead time could be further reduced by taking some appropriate measures in manufacturing, unloading and transportation system but it does not help the manufacturer to be more competitive. If the manufacturers could find some alternative source of supply in the local market and collect fabrics locally. That will be more logical, appropriate and helpful in the direction of lead time reduction. Considering all the above analyses a new model of RMG business process has been proposed in fig. -7, which is expected to be helpful in reducing lead time. Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth Figure 7: Proposed business process for RMG Industries in Bangladesh Buying house/ Buyers agent 626 Foreign buyers Local market Garments company (Manufacturer) Backward linkage industries Buyers own textile mills Order flow Collect raw materials Final product supply flow Information flow Conclusion The RMG sector of Bangladesh has entered in the quota free market after 2005. From that time this sector is in a very disadvantageous situation due to long lead time which has negative impact on export growth. Through analysis of empirical data it has been found that import dependency is the major bottleneck and it is the main factor for greater lead time. Just due to import of fabrics manufacturers are to count shipment time, unloading time, customs clearance time and transportation time from port to ICD( Inland container depot ) at Kamalapur, Dhaka. Import dependency arises out of the absence of sufficient backward linkage industry and for this reason a total additional 55-75 days are spent in the import process of fabrics by RMG sector of Bangladesh. As a result this sector is facing long lead time which is 90 to 130 days on the average. From the analysis it is clear that the impact of information lead time is very negligible on total lead time. It contributes only 6%. However, order lead-time has a great role to increase the lead time. By the analysis it was found that fabrics manufacturing time, shipping time, unloading time and transportation time are included in the order lead time. In conclusion considering the above analysis it has been found that import dependency is contributing 50% or more in the problem of long lead time and it is the main factor for the problem of long lead time in the RMG sector. Sample approval is another factor contributing for long lead time. The buyer from Italy for ‘Corona’ brand taking 48 days to complete all the process. It is the standard lead time to compete with the other manufacturer and exporter of the world. It becomes possible only for avoiding import of fabrics. For the buyer of Corona, manufacturer collects fabrics from the local market from their own textile. So, reduction of lead time is possible when the RMG sector ensure the availability of fabrics from the local market by developing backward linkage industry specially in the oven sector and by establishing textile mills by the buyer for their own consumption. 27 Nuruzzaman and Ahasanul Haque Azad, R. (2004), Readymade Garment Industry in Bangladesh: Competitiveness and sustainability, unpublished Ph. D. thesis, Dept. of Marketing, R. U. , Bangladesh. BGMEA research cell, BGMEA, BTMC Bhaban, 7-9, Kawranbazar, Dhaka. Charles J. Murgiano, CPIM, Short lead time=Tall profit, Wellesley: Waterloo Manufacturing Software, Advanced Planning and Sched uling Technology Paper, http://www. waterloosoftware. com/leadtime. html, Retrieve; December 10,2007. Cooke and Morgan (1998), The Association Economy, England; Oxford University Press. Gothenburg University website (2005), http://elsmar. com/Lead_Time/tsld006. htm, Retrieved on September, 2005. Khan, Shahiduzzaman (2007), â€Å"Apparel Industry faces daunting tasks ahead†, Editorial report, Financial Express, September 9, 2007. Kutubuddin Ahmed (2002), Impact of MFA phase out on the apparel industry of Bangladesh and remedial measures fir its survival, Bangladesh Apparel and Textile Exposition souvenir, Dhaka, Bangladesh. Li, J. Q. , Shaw, M. J. and Tan, G. W. , (2000) Evaluating Information Sharing in Two-level supply chain, management science, 1999. M. Taheruddin (2004), Problems and prospects of Garment Industry, The Daily Ittefaq, Wednesday, 23rd June, Dhaka, Bangladesh, P- 10 Munir Quddus, Salim Rashid (2000), Entrepreneurs and Economic development- The Remarkable Story of Garment Exports from Bangladesh, The University Press Limited, Dhaka, Bangladesh, P (23-80). Nuruzzaman, Md. (2008), â€Å"Lead time reduction and the application of Process Management- A study on selected RMG units in Bangladesh†, Journal of Business Research, Vol. 10, June 2008, P-63 Nuruzzaman Md. (2007), Developing Export of RMG products in Bangladesh: Analysing the lead time†, Management Trends, Vol. , No. 1, P- 1 Nuruzzaman, Md. (2005), â€Å" Development of Readymade Garment Business (RMG) in the process of Lead Time reduction- A study on Bangladeshi Readymade Garment Sector†, Draft Master Thesis, GBS, Gothenburg University, Sweden Schary, Philip B. (2000), Managing the global supply chain, Indian edition, Viva books private limited, Delhi. Simchi-Levi, David, Kaminsky, Philip. and Simchi-Levi, Edith (2000), Designing and Managing the supply chain, McGraw-Hill international edition, Singapore. References [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] 12] [13] [14] [15] Lead Time Management in the Garment Sector of Bangladesh: An Avenues for Survival and Growth Internet source: http://elsmar. com/Lead_Time/tsld006. htm Retrieved on July 2004. 628 Appendix-1 Figure 1: Sample Approval Flow Chart Proto type Sample Green Seal Sample This should be made in the correct weight of material or knit. Requested by the QA/ Buying Office when an order is placed. The quality assurance team will make comments regarding fit and size. Also 1 meter of the intended bulk base fabric must be submitted for UK fibre content testing. Along with the completed test report request from stating the tests proposed for the style. Please note green seals will not be approved without the completed test request form Red Seal Sample A full size set in the correct base quality fabric and trims, in any available colour are requested in accordance to the critical path,(with enough time for a second remake to be made if necessary) before production commences. No samples are to be sent in substitute base fabrics. A full size set is required for all styles, but not all colours. Photo Samples and Presentation Samples The above samples must be a good representation of production in bulk fabric with correct details and trims( including labels). We require 2 samples per colour/style. Sizes to be confirmed by buyer. Press Samples Press samples will be required for ceretain styles and must be a good representation of production in bulk fabric, with correct details and trims(including labels). Sizes to be confirmed by buyer. Gold Seal Samples One sample of each colour in each size must be sent to the quality assurance team for the attention of the relevant technilogist. A minimum of 3 working days must be allowed for approval prior to shipment/despatch from factory. i. e. If 6 sizes and 5 colours, one samples of each size in each colour, and two sizes in the same colour. These need to be correct for style, size specification, fabric colour, trimming qualities and colours. Made to the correct manufacturing standards on the correct machinery. Mock Shop Samples Four samples per colourway, correctly packaged will be required with the gold seal samples for mock shop purposes, the buyer will confirm these. No shipment can be made without a signed certificate of relese from both the inspection team and buyers quality assurance department Repeats There is no requirements to obtain green red sealing samples for repeat purchases. However gold seals are required. Contract Placed Green Seal Sample Test request form to be completed Red Seal Sample Photo Press Sample Presentation Sample Gold Seal Samples original test reports. Approved certificate of release to be obtained Mock Shop Samples if required Inspection Shipping Source: constructed for this study based on interview 29 Figure: 2 Nuruzzaman and Ahasanul Haque A Manufacturer communicates with the suppliers Information time, 5-7 days Suppliers (Receive order of fabrics) Manufacturing time, 10-12 days Manufacturing fabrics shipment Shipment time, 2225 days Unloading fabrics at sea port transport to the Manufacturing point Unloading transportation time, 10-14 days Sample making, approval production Sample approval production time, 45-50 days B C D E F Shipment to the buyers Shipment time, 28-32 days Final destination Source: Constructed for this study Based on Interview

12 Experts Predict What The Most Successful Marketers Will Do In 2018

12 Experts Predict What The Most Successful Marketers Will Do In 2018 What will the most successful marketers do in 2018? It’s a simple question. And I wanted the answers from some of my super smart friends in the marketing industry to help my  team at be as successful as possible in 2018. My thought here was to use these predictions as potential future project ideas: Which of these predictions offer the biggest 10x growth opportunities? Are there things we’re already doing that we may need to improve or double down on? How may we optimize our strategy + processes to capitalize on new opportunities? Learning from others’ success is often a great way to become successful yourself. So†¦ †¦in the same breath†¦ I knew you  would likely learn a lot from these 2018 marketing predictions, too. I also thought you’d enjoy learning from my *informal* marketing mentors. What Are The Most Successful Marketers Doing? Download the 2018 State of Marketing Strategy Report to learn the strongest predictors of success with goals, strategy, process, and more. When you do, you’ll learn the benchmarks that set successful marketing teams apart from the rest. So get it now! Alright, though†¦ let’s hear what our experts predict for marketing success in 2018, shall we? ;) Adapt Quickly†¦ Agile #FTW Julia McCoy, CEO Of Express Writers, Instructor At contentstrategycourses.com Adapt.  This is the keyword to successful marketing in 2018. As we end 2017, we've seen incredibly major  changes happen to leading social platforms. Facebook Stories merging with Instagram Stories. Snapchat planning on a redesign after confirmation less people are using their platform. Twitter doubling their allowed character and word count per tweet. LinkedIn featuring trends that look very similar to Twitter trends. The demand for video, especially Facebook live streaming, will continue to grow. Along with adapting to (and knowing the trends), it's also vitally important to know what your users want. For example, in today's noisy social platform world where Facebook autoplays videos, some users seek the basics of beautiful imagery and a well-written story- and mute all videos. Don't overlook what your people want. It could be the basics. So, adapt with them in mind, at all times. With these keys in mind, you're in for a successful, exciting ride with your marketing in 2018. Julia McCoy is the founder of Express Writers, serial content marketer, and best-selling author. Don't overlook what your people want.Optimize Old Content To Increase Your Results With Less Effort Andy Crestodina, Co-Founder And Strategic Director Of Orbit Media Studios Update old content. The most successful marketers will go back and find big value in that deep well of past articles. Older articles often have authority and links. They'd benefit from a rewrite and better relevance. Older articles often convert a good percentage of visitors into subscribers. They'd benefit from a new stream of traffic. Older articles are often easy to rewrite. They're faster to update than writing a new piece. The pros have already figured this out. In fact most marketers have. According to some recent research, 55% of bloggers update old content. They do it for better rankings and more traffic in less time. Maybe you don't need 1000 articles. Maybe you need 100 great articles. Andy Crestodina is a co-founder and the Strategic Director of Orbit Media, an award-winning 38-person web design company in Chicago. Did you know 55% of bloggers update old content?Embrace New + Repurpose Old + Measure Everything Gini Dietrich, CEO of Arment Dietrich And Founder And Author Of Spin Sucks In 2018, the most successful marketers will do three things (I know you asked for only one, but I'm cheating!): Begin to adopt artificial intelligence, chatbots, and/or virtual reality. Optimize their work by repurposing content. Consistently measure their work and tweak and improve as they go. Though many successful marketers have already adopted some of the new technologies, 2018 brings an opportunity to enhance the work they're already doing–and do more. For number two, it's always astounding to me how many marketers (most) don't repurpose any content. They create something once and let it live in a silo. The most successful marketers do not do that. For everything you publish, there should be at least five ancillary pieces you can create. Optimize the heck out of your creations. And then measure your work. Because I am a communications pro, I focus on PR metrics, but the things I push my team, our clients, and our community on are metrics every successful marketer uses. Study them, learn them, implement them. You will be considered a successful marketer by 2019 if you do. Gini Dietrich is the founder and CEO of Arment Dietrich, a Chicago-based integrated marketing communications firm. She is the lead blogger at the PR and marketing blog, Spin Sucks, is co-author of Marketing In the Round, and is co-host of Inside PR, a weekly podcast about communications and social media. Your winning content formula: Embrace New + Repurpose Old + Measure Everything.Spend 80% Of Your Time Scaling, 20% Testing Sujan Patel, Co-Founder Of WebProfits Your approach to marketing shouldn't change in 2018. It should always be 70-80% focusing on scaling and optimizing proven channels and 20-30% on testing new channels. New technologies have made AR mainstream on mobile devices, and new media such as voice search on Amazon Echo, Google Home, and Siri are going to make 2018 an interesting year. With the saturation and increasing competition for internet business, there’s one area where companies can’t afford not  to spend on in 2018: Branding. Your brand/voice and the customers’ perspective of you will play a larger part of the purchase decision. Sujan Patel is a data-driven marketer and entrepreneur. He is a high energy individual fueled by his passion to help people and solve problems. Sujan is the co-founder of WebProfits US, a growth marketing agency software companies, Narrow.io   Mailshake, tools to help marketers build their Twitter following and scale content marketing efforts. Spend 80% of your time scaling, 20% testing.Very Purposefully Stand Out From The Competition Ian Cleary,  CoFounder of OutreachPlus and Founder of RazorSocial Focus more on strategic content and invest more time in content promotion. Content marketing is very competitive, so to stand out, you need to build more strategic assets. These are not 500-word blog posts. They could be surveys that take you weeks to build, a useful software utility for your audience, a whole series of video content, a guide that contains better information than anything available on the internet, etc. When you produce these assets, you then need to invest time in outreach. That's building relationships in the short term to help with strategic content promotion in the long term. Ian Cleary is a CoFounder of OutreachPlus and the Founder of RazorSocial. He works with clients all around the world on with marketing consultancy and training programs focused primarily on content marketing and relationship building (e.g. influencer programs). Focus more on strategic content and invest more time in content promotion.Personalize Experiences With Marketing Automation Barry Feldman, Founder/Owner Of Feldman Creative I see great marketers separating themselves from the pack by gathering and using customer intelligence. It's become widely understood customers want more personalized experiences. The marketers able to nurture the brand/buyer relationship with personalized interactions and experiences that cater to an individual's needs will win more customers and be better equipped to keep them and create brand advocates. Of course, the process of building intelligent profiles of your customers can be handled in a variety of ways. I consult with ShortStack  and their platform provides a great example. Their interactive content- contests, quizzes, and such- encourages prospects to not only engage, but to reveal their wants and needs. And now, there's a marketing automation element to the platform enabling the marketer to follow-up with more personalized communications. It's just one example, but it's a good one. Ask yourself, how can you learn more about your prospects and use the intelligence in your marketing? Barry Feldman, founder of Feldman Creative, is a prolific writer with 25 years of experience bringing his clients' online presence to the next level through copywriting and content marketing creation and consulting. He writes and educates clients on online marketing on The Point  and on many other sites across the web. How can you learn more about your prospects and use the intelligence in your marketing?Listen + Analyze + Plan + Personalize Joei Chan, Content Marketing Manager At Mention In 2018, the most successful marketers will be listening to, working with, and leveraging customers from acquisition to retention. The best marketers will be those who succeed in extracting and analyzing granular customer data and behavior to create personalized and targeted campaigns. This doesn't just mean surveying customers, but actually having a process to incorporating the feedback and making the customer's voice the starting point of your strategy. The feedback can be collected through NPS, CSAT, social media monitoring, behavioral analytics, chatbots, or with AI, etc. In the past customer feedback was usually an afterthought or 'just for reference.' In 2018, every marketing decision you take should be based on customer feedback or data. "We've listened to our customers, this is what's frustrating them, this is what they want, and this is what we're gonna do." Joei Chan  is the Content Marketing Manager at Mention  where she leads marketing campaigns and partnerships for demand generation. Four things successful marketers will do in 2018: Listen + Analyze + Plan + PersonalizeUse Behavioral Data To Tailor Content To The Customer Lifecycle Kim Courvoisier, Director Of Content Marketing And Social Media At Campaign Monitor 2017 has been a heck of a year on all fronts, and marketers need to fasten their seatbelts because 2018 is coming in hot! If 2017 was the year that as marketers we fought for and gained access to data (which many of us did!), then 2018 will be the year that we will use that data in unique ways to power massively relevant campaigns to our prospects and customers. It’s no longer enough to talk the talk about the right message to the right person at the right time. 2018’s most successful marketers must OWN the customer lifecycle and own it like they never have before. The marketing funnel is no longer a linear path to conversion and it won’t be enough to simply cherry pick a few pivotal touchpoints and expect to get results. To be a truly successful marketer in 2018 and beyond, marketers must use behavioral data and personalization to deliver on consumers expectations for messaging and offers that apply uniquely to them. One size fits no one in 2018 and marketers wi ll finally get a command on their data and begin to use it in incredible ways. See more email marketing and automation predictions for 2018 in Campaign Monitor’s 2018 Email Marketing Predictions. The future of email is lit! Kim Courvoisier is a seasoned digital marketing leader specializing in B2B and B2C content marketing, social media, email marketing, customer lifecycle marketing, and SEO. She builds and leads the inbound content strategy to drive lead generation and boost organic traffic, among much more, at Campaign Monitor. 2018’s most successful marketers must OWN the customer lifecycle and own it like they never have...Less â€Å"Marketing†, More Listening Adam Hutchinson, Head Of Marketing At Socedo It's time to strip out the jargon (or worse, sales speak) from our marketing messages, and we need to put human conversations front and center. With buyers bombarded by ads, emails, and cold calls, response rates continue to decline, but marketers are seeing drastic improvements by engaging in existing, meaningful conversations and talking to their audience as people, not just customers. For example, taking a look at some of the most successful B2B social media campaigns from 2017, we can see some common trends: highlighting actual people, leveraging relationships, and using simple, relatable language and imagery. Social is a great place to start, but this needs to be true across tactics, whether it's telling compelling stories in email campaigns or writing content that speaks to personal interests and concerns. It all starts with listening to the right conversations in the first place, and the most successful marketers will turn to social listening tools, intent data providers, and content analytics platforms to understand what the people in their audience care about most. Adam Hutchinson is the Head of Marketing at Socedo. Socedo helps B2B marketers discover, engage, and convert leads using real-time behavioral social data. It's time to strip out the jargon (or worse, sales speak) from our marketing messages.Sometimes, You Have To Pay To Play Chris Von Wilpert, Chief Content Sumo At Sumo Group If I channel the fortune-telling energy from Noah and answer related to content, I would say: â€Å"The most successful marketers in 2018 will use paid to promote their organic. There are so many great content creators out there today, the biggest shift will come from marketers who can master the skill of promoting their content profitably with paid traffic. The rest will die on the content pile of death.† Chris Von Wilpert is the Chief Content Sumo at Sumo Group  where he’s growing the Sumo.com blog from 100k/mo to 500k/mo unique website visitors. The most successful marketers in 2018 will use paid to promote their organic.Stand Out With Competition-Free Content Garrett Moon, CEO And Co-Founder Of , Author Of The 10x Marketing Formula The most successful marketers will create competition-free content that stands out. Content marketing isn’t living up to the hype. Instead of delivering upon its promises of extreme growth, we’ve plunged into the â€Å"trough of disillusionment.† Instead of creating â€Å"copycat† content- which is essentially copying and pasting examples from others- you need to embrace the 10x Marketing Formula. So what’s that? You need to ditch playing follow the leader and start thinking like scrappy startups. It’s results or die. And startups know this better than anyone. Instead of doing what’s safe and comfortable, startups embrace risk and innovation. They reward it. The 10x Marketing Formula is about finding the paths no one else has taken to differentiate yourself and ultimately grow your results 10 times over. The 10x Marketing Formula is about finding the paths no one else has taken to differentiate...4 Key Takeaways From Your 2018 Marketing Predictions First, let’s recap some of the broader 2018 marketing trends from these predictions†¦ ...in 2018, successful marketers will: Be agile, embrace new, and test:  There will (obviously) be new marketing trends that emerge in 2018. Instead of pushing all of your resources into these fads, test them, then embrace what works. Paying to promote your content may be part of this- as marketing enters the trough of disillusionment, your strategy needs to pivot. Scale what you know already works:  Just because new stuff will inevitably come doesn’t mean you should embrace it right away. What you’re already doing is likely already working†¦ so how can you scale it  to get even bigger results? This ties into optimizing old content  and repurposing it. Listen to their  audience, and measure their efforts:  To seriously understand what works while embracing the new (and continue doing what you know already works), you need to listen to your prospects and measure the return on existing marketing projects. This is huge. Successful marketers are 242% more likely to report conducting audience research  at least once per quarter. Personalize content across the customer life cycle:  It’s impossible to plan the funnel experience at a macro level. That said, every click, view, and action indicates a personal level of interest. Based upon that data, you can customize the experiences for specific people who are getting to know your business to strategically lead them closer to that point of purchase.The four things successful marketers will do in 2018 are ...^^^ If you remember the beginning of this article, I asked for this advice so I could use it at †¦ So†¦ What Is Planning For 2018? Well, I wouldn’t plan it if I didn’t predict it to be successful†¦ right? ;) So very soon, you’ll see the demand generation team here at (listed as prioritized): Personalize the content you receive based on your activity:  We’re already working on enhancing your experience with this blog and well beyond. Some of that includes testing new things, covering even more topics like change management, integrated marketing communications, pitching ideas to your team and boss, and a whole lot more. So look forward to it! Continue scaling what we know you love:  We’ll continue analyzing blog post success  and repeating home runs we know you’ll love. Part of that includes our historical optimization process where we update older content to seriously help you solve your biggest marketing challenges. In addition, I see more guides  in our future, more course  releases, and more webinars. Test new:  We have a couple more ideas for freemium tools that will complement the headline analyzer  and social message optimizer. *Insert shriek of excitement here.* An advanced marketing academy is on our radar. And†¦ of course†¦ we’ll publish that book we started  writing in 2017 that I predicted would happen  about a year ago (lol). And, of course, we’ll listen to you every step of the way. ;)

Economic performance of Russia and India (2010-2012) Essay

Economic performance of Russia and India (2010-2012) - Essay Example ate 2012 2011 2010 Russia 6.0% 6.5% 7.5% India 9.9% 9.8% 10% Source: CIA, 2013b; Statista, 2013a, b Gross Domestic Product (GDP) Gross domestic product (GDP) is defined as â€Å"the sum of market value of all final goods and services produced in a country during a specfic period of time, generally one year†7 (Dwivedi, 2010, p. 5). In Russia, the country’s GDP has signficantly increased from $2.322 trillion in 2010 up to $2.509 trillion in 20128 (CIA, 2013a). The signficant growth rate in Russia’s GDP somehow explains why this country had a gradually decreasing unemployment rate. Since demand for final goods and services increases, demand for more jobs also increases. In India, the country’s GDP also increased from $4.205 trillion in 2010 as compared to $4.735 trillion in 20129 (CIA, 2013b). In general, the real GDP values considers the impact of inflation rate on GDP whereas a nominal GDP values does not. For this reason, figures that are related to real G DP is considered as a more accurate economic indicator as compared to the nominal GDP values. In line with this, the GDP’s real growth rate in India (5.4% in 2012) is much higher as compared to the GDP’s real growth rate in Russia (3.6% in 2012)10, 11 (CIA, 2013a, b). Gross Domestic Product (GDP) 2012 2011 2010 Russia $2.509 trillion $2.422 trillion $2.322 trillion India $4.735 trillion $4.492 trillion $ 4.205 trillion Source: CIA, 2013a, b GDP – Real Growth Rate 2012 2011 2010 Russia 3.6% 4.3% 4.3% India 5.4% 6.8% 10.1% Source: CIA, 2013a, b The per capita real GDP is part of the macroeconomic indicator that focuses on dividing the real GDP with the number of population in each country12 (Boyes and Melvin, 2013, p. 359). As of 2013, the total population in Russia is only 141.44 million as compared to... This paper is the best example of comparison of economic development of India and Russia in terms of economic growth during 2010-2012 Key economic indicators are commonly used to determine the overall economic performance of a country. Using marcro-economic indicators such as unemployment rate, inflation rate, and balance of payment among others, it is possible to detect whether or not there is an economic growth in each country. Economic growth is defined as the increase in production of goods and services that occurs over long periods of time This report is composed of two major parts. The firts part will focus on applying and discussing the significance of macro-economic indicators such as unemployment rate, inflation rate, balance of payment, exchange rate, and growth indicators like gross domestic product (GDP) in the case of Russia and India. The second part focus on discussing the domestic and foreign factors which triggers fluctuations in some of these economic indicators. Unemployment rate is defined as the number of unemployed people who want to have a job but do not have one Gross domestic product (GDP) is defined as the sum of market value of all final goods and services produced in a country during a specfic period of time, generally one year Inflation rate is defined as the percentage change in some measure of the price level from one period to the next the balance of payment is defined as the â€Å"statistical statement that systematically summarizes, for a specific period of time, the economic transactions of an economy with the rest of the world The research conducted clearly shows that Russia was benefiting from a good economic growth whereas India was experiencing a worst economic growth.

Exam_4 Essay Example | Topics and Well Written Essays - 1000 words

Exam_4 - Essay Example These components are applied in operational management allowing the management to access up-to-date data in real-time. Therefore, operational analytics offer an insight of the data within a data warehouse because it allows greater visibility of the various forms of data at a great speed (Turban, Sharda, Delen & King, 2010). OLAP (Online Analytic Processing) is the commonly used technique in data analysis employed within data warehouses driven by the increase in data volumes and the value of data-driven analytics in business. OLAP is also referred to as the capability to effectively manipulate and analyze data from various perspectives using its operational structure that relies in the concept known as cube. This concept has a multidimensional data structure that allows fast analysis of data because arrangement of data into cubes overcomes the limitations associated with relational databases (Turban, Sharda, Delen & King, 2010). KPI (Key Performance Indicator) represents a strategic objective and measures performance against a goal. KPIs are multidimensional and upon translation, this indicates that KPIs encompass various unique features. One of the distinguishing features includes strategy because KPIs embody a strategic objective. Moreover, KPIs measure performance against specific targets that are defined within the strategy, planning, or budget allowing the targets to take different forms like achievement targets, reduction targets and absolute targets among others. KPIs also have ranges because objectives have performance measures like above, on or below the target. Encoding in KPIs allow ranges to be encoded in software enabling the display of performance through colours like green, yellow and red based on percentages or other complex rules. Time frames in KPI mean that targets are assigned time frames within which they have to be accomplished; as well, the time frames are often divided into small int ervals to allow monitoring of performance

Roles and responsibilities of a teacher

Roles and responsibilities of a teacher Review your own roles and responsibilities as a Teacher, in terms of the Teaching/Training Cycle, identifying boundaries that should be set. INTRODUCTION In every profession, there are roles and responsibilities and boundaries that are set in order to divide the line that indicates the farthest limit. Roles and Responsibilities are important because they would facilitate order in any given organisation and allow personal and organisational objectives to be met, as those with Roles will be accountable to their functions. Actions and activities assigned to or required or expected of a person or group are referred to as Roles while the obligations to carry forward an assigned task to a successful conclusion are referred to as Responsibilities. All learning institutions are subject to legislation. It is of relevance that in this assignment I link these roles and responsibilities to current legislative requirements such as Disability Discrimination Act, (DDA), Special Education Needs (SEN), and Equal Opportunities. Under the Professional Code of Practice, I have responsibilities as a teacher to undertake 30 hours of Continued Professional Development per year and I must also update my subject knowledge. I must therefore, have clarity on my roles and responsibilities in order to prevent omission of duty. In this assignment I will examine the Roles and Responsibilities of a Teacher in relation to the Teaching/Training Cycle. This will lead to focussing on professional activities within the learning cycle. I will also recognise the professional boundaries that govern a teachers behaviour in order to comply with the Professional code of conduct. It is therefore, of significance that I discuss where the teachers different roles stop. After analysing this topic, I will come up with a conclusion. Holtrop (1997) suggests that Obviously teachers wear many hats: friend, counsellor, judge, mentor, hundreds of roles and different roles for different classes, students and extracurricular duties. In relation to the Training cycle, I have a role of Assessor. A majority of learners will have different individual learning needs and for me to accommodate their needs, I need to have assessment skills that will promote equality, diversity and inclusion. I will link this to Domain A of the LLUK Standards which states one of the professional practices as Apply principles to evaluate and develop own practice in promoting equality and inclusive learning and engaging with diversity. I can achieve this by carrying out thorough initial assessments that will help me to identify different learner needs such as poor writing skills, poor reading skills, disabilities etc. This would be in line with Domain C Ways to identify individual learning needs and potential barriers to learning in own specialist area. This will make it easier for both the learner and me to access learning and deliver learning respectively, because based on the assessment needs that I will identify, I must have knowledge understanding of how I will apply the different assessment methods like formative and summative assessments to meet these needs. This may increase the level of motivation to both the learner and teacher. I will link this to Domain E which is about assessment for learning Theories and principles of assessment and the application of different forms of assessment, including initial, formative and summative assessment in teaching and learning. In my role as a teacher I am to conduct initial assessments which will help me to identify learners needs, knowledge and skills and also help to identify referral points against levels within the National Standards. When I identify needs that need to be referred, I will have to give the learner information, advice and guidance to where they are being referred. This will be linked to Domain F which is about access and progression- sources of information, advice, guidance and support to which learners might be referred. This also promotes the Wayt (2008) explains that Assessing varying learning styles within a group and considering learners motivation and previous experiences helps identify various teaching methods that could be useful throughout the programme. Sessions incorporating visual, auditory and kinaesthetic learning styles ensures students have equal rights to learning and provide the opportunity to re-evaluate what is already known while exploring aims and objectives from a different perspective. The initial assessment will provide me with some important detail to inform the plan, which will be revised on an on-going basis to monitor the learners progress and identify any subsequent support needs. Both learner and teacher will be aware of what the learner knows and is able to do and what he/she needs to learn. It is also important for me and the learner to know how the learner likes to learn; as this helps me to identify barriers to learning such as difficulties in reading, writing, numeric, language skills and any other disabilities and will make reasonable adjustments in order to use the appropriate assessment methods that will meet the individual learners needs and promote equality and diversity. At this stage, should any learner require support which is beyond my competence, I will refer and ensure that I give the learner the right information on their referral, so as to meet the professional standards in Domain F of the LLUK Sources of information, advice, guidance and s upport to which learners might be referred. This is in line with the Equal Opportunities Act (2004) which states that all learners must have equal access to learning regardless of their learning barriers, disabilities, sex, religion, and race. Under the Disability Discrimination Act 1995(as amended by the Special Educational Needs and Disability Act 2001) disabled learners must not be treated less favourably and teachers must make reasonable adjustments to ensure that disabled learners are not at a substantial disadvantage compared to their peers. . Following the initial assessment, I should do a diagnostic assessment in order to identify specific individual needs and support required and this will lead to the creation of a detailed personal profile, providing the basis for an Individual Learning Plan. As an Assessor, I have limits to this role. By doing a thorough assessment, I may identify needs that are beyond my competence and may need to refer the learner appropriately. For example, if I identify that a Learner has financial needs, I may need to refer the said learner to the appropriate department. This in itself is helping meet the learners need and adhering to the professional boundaries. It would be very unprofessional for a teacher to give money to a learner to fund his/her education or get money from a learner. This is to conform to the LLUK standard in Domain A which states that Conform to statutory requirements and apply codes of practice and also Domain F which says Boundaries of own role in supporting learners. And one of the professional code of practice introduced by the Institute for Learning (IFL) states that a teacher must protect the interest of the learners and the wider public and any member of the Institute for Learning who breaches the code will be subject t o disciplinary investigation as described by the disciplinary procedure. Let me look at another role of a teacher. As a teacher, I am a Planner, in that I plan appropriate, effective, coherent and inclusive learning programmes that promote equality and engage with diversity. This means I should plan for the use of different teaching methods and activities which are in line with the curriculum requirements and meet the needs of the learners. These may be group discussions, questioning etc. This is in line with the LLUK Standard Domains B and D BK2.1 Principles of learning and ways to provide learning activities to meet curriculum requirements and the needs of all learners. DK 1.1 How to plan appropriate, effective, coherent and inclusive learning programmes that promote equality and engage with diversity. Planning is a very important role for me because it will direct or guide me in the delivery session. My planning will depend on the identified individual needs, which will prompt me to use the appropriate teaching methods. This is because I am required to ensure that the identified needs of my learners are properly taken care of in my planning process. Without planning, I might not be able to meet the learners needs and may not deliver in line with the curriculum. This may result in de-motivation and dissatisfaction to both the learner and I, as learners will feel they have not been catered for and I will feel I have not played my role as a planner. In view of the on going assessments, I am responsible for preparing the assessments in such a way that they meet the needs of individual learners and promote equality, diversity and inclusion. In this case, it is important for me to use different assessment methods such as formative and summative assessments. These could be direct observation, oral questioning, professional discussion, witness testimony of case studies. When this is done, I will have met the LLUK Standard Domain E Theories and principles of assessment and the application of different forms of assessment, including initial, formative and summative in teaching and learning. It is part of my responsibility to ensure that learners are involved in planning for assessments. Learners should not be subjected to a surprise assessment. I should always involve them at the planning stage and be able to give them opportunities to make their own suggestions and choices without putting them in situations where they feel overwhelmed . This will give them a sense of ownership. This is in line with LLUK Standard Domain E Ensure that learners understand, are involved and share in responsibility for assessment of their learning. The planning session should be able to meet the individual learner needs, by considering different resources that will promote fair and effective assessment. For example, a teacher who is going to assessor a learner at a place of work must have planned in advance with the learner, who might have suggested that it was better to do the assessment in the morning because that is when a lot of activities take place. If this happens, it is most likely that the learner will feel at ease and have a sense of fulfilment because he/she has been involved in the planning process and his/her need met. This is linked to Domain E Apply appropriate methods of assessment fairly and effectively. A teacher is also an Information Provider (Lecturer). In reference to the Teaching/Learning cycle, this role requires me to deliver/implement teaching as planned and designed, inclusively to promote equality and diversity. Gay (2000) states that, It is very important for teachers to appreciate the impact culture has on learning. Furthermore, they must make their teaching well suited to the social cultural contexts and frames of reference of ethnically diverse students.  Ã‚   I must therefore, take the differentiation approach, to be able to offer a range of approaches and resources to meet the needs of an individual or a group of learners. It is my responsibility to develop and produce teaching and learning materials appropriate for a range of contexts, purposes and target audiences. Different learners have different levels of understanding and knowledge, and if I am to cater for their needs, I will have to use different teaching tools, such as DVDs, handouts and practical demonstrations(which must be referenced to the curriculum) When applied these teaching tools will promote equality, diversity and inclusion and will have the potential for language, literacy, numeracy and information and communicat ion technology for learners and will make it easier for those who understand visual, auditory and kinaesthetic learning. For example, a learner who understands well when they see might need to watch the video to get understanding. This can be linked to Domain B of the LLUK Standards Ways to ensure that resources used are inclusive, promote equality and support. This can also be linked to Bloom (1997)s taxonomy where he separates out learning into three Domains Cognitive domain concerns our thinking and memory and our capacity for understanding. The psychomotor domain deals with our abilities, the skills that we have, what we can physically do. Affective domain relates to our understanding, i.e. our approach, our attitude to what we do. I am also responsible for making the learning environment a safe place to comply with the Health and Safety at Work Act (1974.) This calls for risk assessments, which help to identify any hazards that would hinder learning. According to Maslows pyramid, everyone needs to feel protected against any life threatening cause. This is also in accordance with the LLUK Standard Domain B- which states that Ways to maintain a learning environment in which learners feel safe and supported. It is therefore important for me to maintain safety in the learning environment and to make learners be aware of their responsibilities in maintaining safety, as health and safety is everyones responsibility.   As a teacher, I have the role of a Mentor/ Counsellor in delivering the course. I should be able to apply appropriate teaching and learning strategies which take account of individual learner needs. When delivering the course, I must show understanding of the responsibilities and boundaries of my own role in providing support for individual learners for example, signposting and /or referring on specialist services. Learners should be given information on where they can find further information, advice, guidance or learning provision. I also need to ensure that learners understand the context of the course, for example the NVQ standards, its application and contribution to the care sector, the economy and the community. It is therefore, important for me to attend standardisation meetings in order to keep abreast with current standards in my specialist area, as required by the LLUK Standards Domain C Own specialist area including current developments and Domain C Ways in which own specialist relates to the wider social, economic and environmental context. Gravells (2007) asserts that, learners learn from each other as well as the tutor. To promote diversity in my delivery, I must ensure that there is involvement of all students in relevant activities, rather than excluding them for any direct or indirect reasons (inclusively), as mentioned in the Tomlinson report. Teachers must facilitate learning environments which will promote culture and ethnic diversity. Therefore, learners from different ethnic groups will be able to voice their cultural expression in order to increase content and learning processes. The assessment of learners competence is an important role of a teacher. I will assess what the learner has learnt and will be responsible for finding out what methods of teaching and learning would be most appropriate for the learner and to motivate the learner to continue and to do better. This can be achieved by using formative and summative assessments. In relation to my area of teaching NVQs in Health and Social Care, formative assessment is aimed to helping the learner become competent and meet specific performance criteria. This should be an ongoing process, where regular tutorial sessions take place, teacher following workplace observation and completing of written tasks. I am responsible for giving learners constructive feedback on their performance, which will motivate them, especially those that are unsure of their own abilities. This can be linked to Domain E The role of feedback and questioning in assessment for learning. I am also responsible for recording outcomes of formative assessment and keeping these records updated and stored safely for confidentiality to conform to the LLUK Standard Domain A Keep accurate records which contribute to organisational procedures. This will in turn give learners a clear guidance as to what aspects of performance they shall still need to work on. In view of the Data Protection Act (1998), I must keep all records within confidentiality agreements to comply with organisational policies and procedures and also to comply with the LLUK Standard Domain A The need for confidentiality, respect and trust in communicating with others about learners. Summative assessment will take place at the end of the learning, giving feedback on learning achievements, maybe a qualification, test or a completed Individual Learning Plan. In relation to NVQs, summative assessment will represent a formal summing up of the learners achievement on completion of a particular piece of work; this may be at a completion of each unit. I will be responsible for making a final judgement on the whole of a unit after making a series of formative assessments. This also must be recorded as evidence to represent the learners competence at the time of the summative assessment. A teacher has a role of an evaluator as well. It is my responsibility to make an assessment of, or to judge what I have delivered. Evaluation will help me to look back at how I delivered the learning and find out what could be done differently. I will need to evaluate my own practice on a regular basis, such as my opinions on the course and how it could be made better next time. Learners must be given the opportunity to evaluate the course whether they achieved something, were the teaching materials enough? Did the course meet individual learner needs? This will help to improve delivery in subsequent sessions. In my role as NVQ Tutor/Assessor, I may need to follow the established structure in place, that means I need to be observed actually assessing and giving feedback and then I will be given feedback on how I perform and how I could improve. Some of the ways of getting feedback on my assessment and teaching skills could be, asking an experienced colleague to observe me, get feedback- formal and informal from learners on different types of assessments I use and how these can be improved. This can also be done by writing reflections to explore and evaluate the different ways I assess, using information from colleagues and learners, as well as the actual experiences and results related to the assessments I use with learners. Reflective practice will enhance good practice and further improve what I do in my subject area. All this is in line with the LLUK Standard Domain E The role of feedback in effective evaluation and improvement of own assessment skills. Revising is about making changes based on the evaluation information and will enable continuous improvements to be made. I am responsible for making any changes to the assessment or teaching methods that were not effective to the learners in order to meet their needs. This can be linked to Domain E The role of feedback in effective evaluation and improvement of own assessment skills. A teacher is a researcher. I should take responsibility to engage in continuing professional development to inform my practice, as this is one of the Codes of Professional Practice. As a teacher, I need to do a lot of research by reading relevant books, using the internet, journals, attending training and other relevant sources to update my knowledge. I am responsible for attending Standardisation meetings to inform my practice and to work in line with the specified standards. I must take it upon myself to explore and keep my mind focused to get knowledge and understanding. Collaborating with others would help to improve my own and team performance. This is in relation to the LLUK Standards in Domain A Ways to reflect, evaluate and use research to develop own practice and to share good practice with others. There are boundarieswithin professional disciplines. Teachers are not supposed to borrow money from learners, neither are they allowed to lend money to learners. It would be unprofessional for a teacher to be found in such a situation. Teachers are also reminded not to go beyond their role by going to learners home for assessment or learner coming to teachers home for assessment. All assessments must take place at the centre and /or workplace. As a teacher, I must always follow organisational procedures in dealing with issues such as complaints and appeals and make references appropriately, especially where the issue is not within my competence. CONCLUSION Roles and responsibilities are important because they will promote accountability among teachers and will help meet personal, organisational goals and individual learner needs. It would be frustrating if teachers lacked clarity on their roles and responsibilities because they would be stuck with who is doing what and who answers to whom? When these roles and responsibilities are applied, they benefit both the learner and teacher, by delivering learning which is inclusive, and promotes equality and diversity. Boundaries will help teachers to work within their limits and adhere to the professional code of practice. . Wayt(2008) The responsibility of a teacher will be to continually   reassess development and change during the course and create a seamless transition   to ensure smooth delivery. This just confirms the teaching/learning cycle. I am responsible for ensuring that the cycle is on going, by seeing to it that action plans are put in place, constructive feedback is given to the learner where necessary and the cycle does not break. This will increase the level of motivation, satisfaction and will help to achieve the goals for both the learner and me. The teacher will also be responsible for inducting the learners to the organisation and course so that learners understand what is expected of them and what the organisation can deliver. This will also help the learners to have a clear understanding of the organisational rules and regulations and also of the course contents. This is likely to result in learners having a good foundation for their course and be able to prepare adequately. REFERENCES Bloom (1997) Maslin-Prosthero -page 185 Gay (2000) Available at http:/www.intime.uni.edu/multiculture/curriculum/culture/roles.htm Accessed on 6th December, 2009 Gravell A (2007) FE champion January, 2007- Post compulsory education and training. Available at www.pcet.net/articles63.html (Date accessed 6th December, 2009) Holtrop (1997) Available at http:/www.huntington.edu/education/lessonplanningroles.html Accessed on 6th December, 2009 Wayt S.(2008). Holistic Health and well-being. Available at http/:www.balance-therapy.co.uk Accessed 6th December, 2009 LLUK STANDARD DOMAINS LINKS Domain A AP 3.1 Domain C CK3.2 Domain E EK 1.1 Domain F   -FK 1.1 Domain A AP 6.1 Domain F -FK 2.1 Domain B BK 2.1 Domain D DK 1.1 Domain E EK1.1 Domain E EP3.1 Domain E -EP2.1 Domain B BK5.2 Domain B BK1.1 Domain C CK1.1 Domain C -CK1.2 Domain E EK4.1 Domain E EK5.1 Domain E EK4.2 Domain A AK4.

Interested in painting and sculpture, I finally chose interior architecture designer as my future career

Employment Status Report Goals and doctrine Interested in painting and sculpture, I eventually chose interior architecture interior decorator as my hereafter calling, for residential design involves both architectural aesthetics and practical value. A perfect design requires a comprehensive cognition in aesthetics and professional competency that involves high engineering ( Kadir,2009 ) . As mathematics and painting serves as basic accomplishments for interior architecture design, to heighten the proficiency in working with engineering serves as my short-run ends, which requires a uninterrupted pattern in utilizing in writing package such as Auto Desk 3D Max and Adobe Photoshop. I wish to hold on those accomplishments over the following 3 months. In footings of long-run ends, I wish to work in big design companies such as GHD and AXS Satow because of its good chances for development with original constructs in design. A contemplation of aesthetic and practical value in interior architecture design is my artistic doctrine. I believe that the design of interior ornaments and furniture must run into customer’s stuff and religious demands of the indoor environment. The artistic doctrine has been reflected in my experience of planing a nuptials room for Art Studio in Beijing. The infinite environment met the corresponding demand of clients with a contemplation of romantic ambiance despite a dissatisfaction with little points. When dissatisfaction arose, I would exemplify my artistic doctrine that all the designs work as a whole to make an expected consequence so that he eventually accepted my advice. Market Due to the huge economic potency of interior architecture design, the competition of the industry has become rather intense. Harmonizing to a survey made in 2011 byNew York Observer, the mean income of a junior interior architecture interior decorator in moderate-sized companies was approximately 0.56 million dollars a twelvemonth while a senior interior decorator received 1.2 million in norm ( Mark,2011 ) . In order to calculate out what sorts of architecture interior decorators were competitory, I had an interview with Liang Zheng, the HR of AIO ( Shanghai ) international landscape and architecture design company. He listed several of import makings and qualities in choosing a competent interior decorator, including a master’s grade, abroad instruction backgrounds and working experience in architecture design. In add-on, those with a good team-work spirit and communicative capacities would be more likely to be selected. To advance myself in confronting the ferocious competit ion, I should cultivate a good communicative accomplishments and team-work spirit. Skills and tools Working in an international architecture design company requires makings and professional accomplishments of high degree ( Frank,2004 ) . In add-on to a comprehensive cognition in architecture aesthetics, communicative capableness and good team-work spirit besides serve as of import portion to carry through my long-run professional ends. My current cognition in architecture aesthetics and in writing package is non sufficient for viing with other architecture interior decorator in big companies in which international communicating is rather frequent. Therefore I should be involved in diverseness preparation classs and English classs to heighten my communicative abilities. With those attempts, indispensable working experience can be added into my professional portfolio. Networking Networking plays an indispensable function in farther growing for architecture design companies, for the communicating of design constructs and updated engineerings helps to set up a long-run common good cooperation on a higher degree. Outstanding associations and diaries of interior architecture design serve as effectual medium for the communicating within the industry. Interior Architecture Design, a Santa Monica College award-winning plan located at the Academy Campus, focuses on heightening professional accomplishments in the local and international Architecture and Design Industry. In add-on, the A Interior Design Competition besides plays an of import portion for the uninterrupted development of architecture design. The award has been viewed as an index of perfect interior design and of import milepost in one’s calling. Provided with sole selling and communicating services to advance his proficiency, a victor will be popular among world-wide design oriented companies and involvement groups. Therefore I take an active portion in assorted competitions and plans of architecture design to accomplish the long-run end. The hereafter In the hereafter, I wish to work as a junior architecture interior decorator in PAL Design Consultants Ltd of China, for the company’s original construct in interior architecture design and favourable working environment. The company has created assorted interior architecture designs through the usage of advanced attacks to spacial organisation, stuffs and illuming with great aesthetic value. The laminitis of the company, T.K.Chu, is good known for his constructs of incorporating manner elements into classical designs. He has developed his ain aesthetic, the Art Deco that transforms authoritative spirits into geometric, in writing and rhythmic vision, which helps the planing merchandise addition agreat popularity. His ultimate end is to show the value of trade art that can non be reached under the aid of accurate calculations, for which I admire him a batch. In add-on, a favourable on the job environment makes the company more attractive. The staff of PAL Design Consultants Ltd comes from topographic points around the universe with assorted cultural backgrounds. The squad provides a balance of western expertness, cross-cultural experience and local penetration and the intertwining environment brings a wealth of creativeness and motive to the talented squad ( Roland,2003 ) . Bing an architecture interior decorator in PAL Design Consultants Ltd, I can turn and develop with superb interior decorators in a cheerful and lively, originative and harmonious civilization. With its original construct in planing the company will maintain endeavoring farther in front in a dynamic and extremely competitory marketD ( Rowland,2011 ) . To accomplish this long-run end, I must heighten my communicative capableness and a good team-work spirit in the hereafter. In add-on to the cultivation of the above communicative accomplishments, I will besides go on wor king on my proficient proficiency. BeginningsKadir.H. ( 2009 ) .The Integration of Interior Architecture with Innovative Design Approaches.US-China instruction reappraisal. ISSN 1548-6613.Vol.8.Mark.G. ( 2011 ) .Architecture Design Gains its Popularity.Architecture Design. New York Observer. Vol.48.Issue.4Frank.G.A. ( 2004 ) .Architecture Design and Assessment system.4.Roland. D. ( 2003 ) . Issue Brief: Smart-Growth: Building Livable Communities. American Institute of Architects. Retrieved on 2014-03-23. 5.D. Rowland. ( 2011 ) .T.N. Howe: Vitruvius. Ten Books on Architecture.Cambridge University Press, Cambridge 1999, ISBN 0-521-00292-3