30-07-2012, 12:53 PM
Comparative Yarn Price Analysis of Local and International Market: A study on Youth Spinning Mills Ltd
RMG sector .doc (Size: 182 KB / Downloads: 50)
Introduction
Origin of the Study
Now we are living in the age of competition at anything in any places. From that tendency recently Education is also in the age of competition. So different Universities and institution in our country upgrade the procedures and standards of teaching. In respect to that, internship is mandatory for our BBA program offered by University. This program is a partial fulfillment of our BBA curriculum. To do so my respected teacher has given me a topic about RMG sector that is “Comparative Yarn Price Analysis of Local and International Market: A study on Youth Spinning Mills Ltd.”
Rationality
The objective of BBA program is to link between practical and theoretical knowledge. To create this link and make us more competent, this term paper can be a scope. By this term paper, I can setup a bridge between corporate world and academic world. Because today’s competitive world is full of challenges and practical, knowledge can make us competitive through this experience.
Background of the Study
The textile industry is an important segment of Bangladesh's manufacturing industry, playing a critical role in its economic development. Textile exports (including apparel) accounted for 76% of the national export in FY 2007, an increase from 41% in FY 1989 and 66% in FY 1995.
Until the liberation of Bangladesh, the textile sector was primarily an import-substitution industry. It began exporting ready-made garments (RMG) including woven, knitted, and sweater garments in 1978, which grew spectacularly during the next two and a half decades-from US$3.5 million in 1981 to US$10.7 billion in FY 2007. Apparel exports grew, but initially, the RMG industry was not adequately supported by the growth up and down the domestic supply chain (e.g., spinning, weaving, knitting, fabric processing, and the accessories industries). Until FY 1994, Bangladesh's RMG industry was mostly dependent on imported.
Objective of the study
The objectives of this internship report are as follows:
Broad Objective: Comparative Yarn Price Analysis of Local and International Market.
Specific Objective:
o To identify the price of Yarn in local market.
o To identify the price of Yarn in International market.
o To make comparison different Yarn price of Youth and that of local and international.
Research Methodology
This is a descriptive qualitative research where I have tried to describe the pricing scenario of yarn market. The report has been prepared primarily based on secondary data. The secondary data has been collected from the telephone & internet. Besides this, some secondary sources such as books, journals, reports etc. have been also used in preparing this report.
Sources of Data
The inputs are collected from two sources:
Secondary Sources
Annual report of Youth Spinning Mills Ltd.
Consultation of related books and publications
Different statement of other department
File; balance sheet and various documents
Data processing
1. Collected information is processed through data processing software
2. Different analysis, working variables and working definitions is embodied in the report
Limitations
Insufficient of data.
Shortage of written material
Time constraint
Lack of proper information flow
Unavailability of correct and valid information
Failure to contact with some managers because of misuse of time
Origin of Youth Spinning Mills
Youth Group is one of the vertically incorporated leaders in export of Garments, Textile and Spinning in Bangladesh. It started its operation in Bangladesh in 1984 with a garment manufacturing unit that is Youth Garments Ltd. And within a short period the group enrolled with backward linkage facilities subsequently spinning, weaving, dyeing, finishing and other in house facilities that are buying unit and C&F unit of the apparel sector. Now it is an established group with 10 units in Textile, Banking and Holding & Education sector of the economy of Bangladesh. “Youth Group” currently employs 4000 people.
Youth spinning mills ltd. is one of the thirst strategic business units of Youth Group. Youth spinning with its 24,192 spindles is one of the most modern spinning mills of the country. It is equipped with the most modern machinery and equipments, this unit are feeding the export oriented knitting factories of the country. It is going for expansion of another 16,000 spindles which also proved a successful venture in the arena of textile sector.
Youth Spinning was set up in 2001 in gorai, Mirzapur, Tangail and was commissioned into commercial production in July 2002.
Youth Spinning can produce 15,000 kilogram daily in counts ranging from 20 – 34 both carded and combed,100% cotton, maintaining 25% uster statistics quality which are being used by 100% export oriented knit composite industries.
Vision
Youth’s vision is becoming one of the top backward linkages (Spinning) company in the textile sector with maximum potential buyers and their satisfaction as well as wealth maximization.
Mission
Youth’s mission is to produce top-quality yarn in a unionized factory that models fair business practices and respects workers' rights.
Each of the activities must benefit and add value to the common wealth to our society. Youth firmly believes that, in the final analysis Youth is accountable to each of the constituents with whom are interacting; namely; its employee, fellow citizen and shareholders.