Quality holds significant importance in the world trade in garments. Currently, this trade is dictated by MFA (Multi-fiber Agreement), and therefore many countries such as Bangladesh, China, Hong Kong, India, Malaysia, South Korea, Sri Lanka, Taiwan, Thailand, and Philippines are enjoying relatively assured export markets, however , with the phase out of MFA by the year 2005, these countries will be competing intensely with each other for the market share in the world without quotas. For many of these countries export of garments is very vital for the national economy. For example in mid 90s, India earned one third of her foreign exchange from garment exports. Indians Prof. Koshi describes quality as the number one source of competitive advantage for garment exports. therefore, a smart exporter/garment manufacturer will not underestimate the signification of quality to his/her business and use next few years to place quality system and practices in place and get ready for fierce competition within the next few years.
As Mr. Davenport, Chairman and CEO of Eastman chemical company in America put it " Customers worldwide are interested in two things today- Quality and Value. They don't really care where in the world they produce or where the company headquartered".
The U.S. Congress has recognise national importance of quality in the report in1998. "Quality as a means to improve our National's competitiveness".
In "The quality / profitability connection". H. James Harrington, cites number of examples of companies such as Ford Motor Co, general Motor Co, Avon Products, Corning Glass World, AT&T, Hewlett-Packard & CO, IBM, Motorola, 3M, North America Tool and Die Co. who have found that quality and profitability are indeed connected and conclude that: 'Extensive research has prove that improved perceived product quality is the most effective way to increase profit and the most important factor in the long term profitability of a company".
(To be continued)
As Mr. Davenport, Chairman and CEO of Eastman chemical company in America put it " Customers worldwide are interested in two things today- Quality and Value. They don't really care where in the world they produce or where the company headquartered".
The U.S. Congress has recognise national importance of quality in the report in1998. "Quality as a means to improve our National's competitiveness".
In "The quality / profitability connection". H. James Harrington, cites number of examples of companies such as Ford Motor Co, general Motor Co, Avon Products, Corning Glass World, AT&T, Hewlett-Packard & CO, IBM, Motorola, 3M, North America Tool and Die Co. who have found that quality and profitability are indeed connected and conclude that: 'Extensive research has prove that improved perceived product quality is the most effective way to increase profit and the most important factor in the long term profitability of a company".
(To be continued)
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