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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Apparel industry can thrive on effective B2B

Speakers tell webinar


| Updated: September 16, 2020 22:20:17


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The Hongkong and Shanghai Banking Corporation Limited (HSBC), Serai Limited and Bangladesh Garments Manufacturers and Exporters Association (BGMEA) jointly held a virtual webinar recently and discussed ways for the apparel Industry to thrive in the new environment of change and disruptions.

BGMEA members, HSBC customers, regulators and apparel buyers of various countries attended the webinar, says a statement.

Md Mahbub ur Rahman, Chief Executive Officer, HSBC Bangladesh, said, "HSBC was founded with one key objective - to facilitate trade. Despite tech-driven improvements in most areas of business, international trade remains as complex today as it was more than 150 years ago."

"Responsible and sustainable supply chains are becoming increasingly important as consumers' choices are coupled with both innovations and disclosure. The Serai platform is aiming to be an effective conduit for industry players to an open source platform with a shared approach. This will ultimately enable the apparel industry to reduce duplication and costs, re-build trusting relationships and make faster and better trade decisions," he said.

Dr. Rubana Huq, president of BGMEA, said, "Industry can only retain and better its position by restructuring its capabilities, adapting to the new consumerism, responding to needs of lean manufacturing, reduced lead time, and online engagement. Effective Business-to-Business (B2B) is one of the most effective ways ahead."

Vivek Ramachandran, CEO, Serai Limited, said, "It is clear that the future of international trade lies in increased digitisation and the efficiency gains that all participants can draw from it. That's why we're building Serai -- a data-powered platform to help businesses build trusted relationships and grow their business".

Serai is a new technology subsidiary of HSBC, the world's leading trade bank. It is a platform that brings together buyers and suppliers to build trusted relationships, with an initial focus on the garment and apparel industry.

 

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