Many garment units at Tirupur are owned by first generation entrepreneurs with home grown knowledge. Their experience is to be shaped with contemporary wisdom in the areas like Working Capital Management, preparation of Quotations based on scientific Costing Methods, and introduction of Management Information System (MIS), to empower them to make right decision at right time.
The program was completely focussed on sensitising the people from the industry on the necessity and practical implementation of financial management techniques and its implications on the balance sheet of the company altering their profits and lost. The concepts were introduced through live cases which have been chosen from the cluster and the whole program was designed well structured by the BDSP after extensive field study. The session was highly interactive with the participants engaged in solving problems and group discussions. Hence they experienced with proof the importance of various financial management principles and how it affects their balance sheet either positively or negatively. The factors causing financial imbalances where analysed and the methods to find solutions in various situations were also discussed.
Training were given in following areas:
- Preparing quotations for orders.
- Planning deliveries.
- Working Capital planning.
- Cash Budgeting.
- Cost of rework.
- MIS in garment industry
A prolonged session was demanded by the participants and they expressed their interest in implementing the principles and sited the need of intense training in this area.
Pleased to read Financial and cost management training in Garment Industry as finance and accounting is the backbone of any industry or organization.
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