Export – import procedure and practices
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This document summarizes a study on the export-import procedures and practices of Qualitex Group located in Bangladesh. The objectives of the study are to provide an overview of Qualitex Group, understand rules and regulations around import-export, identify key issues in documentation and letter of credit practices, and identify problems and recommendations. It then discusses Qualitex Group's mission, products, customers, export destinations and growth, findings, recommendations, and concludes that Qualitex Group is one of the largest towel companies in Asia Pacific.
Export – import procedure and practices
- 1. EXPORT – IMPORT PROCEDURE AND PRACTICES A STUDY ON QUALITEX GROUP, CEPZ. Department of Business Administration Faculty of Business Studies International Islamic university Chittagong PREPARED BY Mohammed Imtiaj Uddin Chowdhury Metric No: R121223 Program: MBA Major: Marketing Semester: Summer 2013
- 2. OBJECTIVES OF THE STUDY To present an overview of Qualitex Group To know the general rules and regulation and put on practical exposure of the role of Import-Export procedure and practices. To identify the key issues to be considered for preparing import-export documentation and L/C practices. To identify some problems and recommends some necessary measures.
- 3. RESEARCH METHODOLOGY OF THE STUDY Data sources: 1).Primary Data 2).Secondary Data Daily dairy maintained by me. Various publications on export procedure & practice Related websites. Personal investigation with customs Different reports sent out to BEPZA Different reports collect from Bank. Annul Retorts. • Observation. •Interview. • Interrogation. •Questionnaires.
- 4. AT A GLANCE OF QUALITEX GROUP Mission and Vision: On time delivery Competitive price Supply Chain Analysis Reduce customer complaints. ensure the Quality Product. • Maintaining at least 80% efficiency. • Life time relation with Buyers. • Customer satisfaction. A Towel manufacturing organizations located at CEPZ in Bangladesh. Factoriesat a glance Premier 1888 Ltd. Crown Mills (BD) Ltd. Qualitex Industries (BD) Ltd. Mitali Textile Industries (BD) Ltd. Modern Towels (BD) Ltd. Aadi Towels (BD) Ltd. Our Products: Bath, kitchen, Sheared, Embroidered , Baby Hood and Printed Towels for retail, hospitality & healthcare service markets.
- 6. COMMITTEMENT OF CUSTOMERS We are always committed to our customers to provide them quality service by offering : On time delivery as well as maintaining high quality standard at competitive price. We are globally aligned with our USA & Pakistani factories, obtain technical, logistical and commercial support from them and thus set ourselves apart from any other factory in Bangladesh/Pakistan/India. We have a technical design team, who offer up to speed designs and the latest of trends. We offer supply chain analysis for all our customers. Forward planning based on historical data and future sales trends. We keep safety stock both in finished & grey to fulfill urgent customer needs.
- 7. PROSPERITY- OUR EXPORT DESTINATIONS Year : 2012 USA Turnover: US$ 41,230,564.71 Which is 56.72 % of Total Turnover Canada Turnover: US$ 9,052,355.96 Which is 12.45 % of Total Turnover Total Turnover: US$ 72,590,651.82 Others Turnover: US$ 5,093,717.88 Which is 7.01 % of Total Turnover Europe Turnover: US$ 17,214,013.27 Which is 23.82 % of Total Turnover
- 8. PROSPERITY – SALES TURNOVER (2000 – 2012) YEAR $12.8 $17.3$14.1 $22.0 $28.4$28.5 $36.0 $46.4 $49.9 $59.2 $68.6 $85.4 $72.7 $84.0 $- $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 $80.0 $90.0 Sales Turnover (US$ million)
- 9. PROSPERITY – OUR PRODUCTION CAPACITY GROWTH 300 550 1000 1400 1600 2000 2000 2003 2006 2009 2012 2015 (Projected) Production Capacity (Tons per month)
- 10. FINDINGS / PROBLEMS Company never compromise concern of quality assurance. Employees and workers highly job rotated. All decision sin the project are made by single person. Company always paid suppliers payment when they received the goods. Qualitex has good relation with their bank, BEPZA, customs and other third parties. The Company could not determine specify the job responsibility of the entire employees. The number of human resources in branch is really insufficient. The company has long time reputation that salary and wages paid on time. World famous retail company (Well Mart, IKEA, Asada) sustain good relation with the company in long time. Export is easier than Import, Export is online based rather than Import is not online based or manual system. This Company never open back to back L/C. They always try to open at sight, irrevocable L/C .
- 11. RECOMMENDATION The company should be sustained their product quality,. Buyer wants to have quality product. Qualitex Group should be appointed some professional people rather than fresh people. Commercial Department cannot do smoothly without taking help of a bank, customs. So, Company should mentions good relation with their bank, Customs & BEPZA. The Company should specify the job responsibility of the entire employee. Thus all the undertaken work will be competed efficiently and effectively. The company should be needed to strong their HR Department . Salary fixation, confirmation and promotion procedure should be considered on employee’s experience, attitude, performance and knowledge. Qualitex Group should be changed Bureaucratic policy. To take any decision management should be consulted with management level person. In Import section the company should be maintain update method.
- 12. CONCLUSION Qualitex Group is one of the largest towel companies in the Asia Pacific. The products of Qualitex Group includes Bath Towel, Hand Towel,KitchenTowel,dish Cloth, Wash Cloth, Scrubber, Barmops, etc which are basically designed basing on the buyer’s requirements and specimen. This report mainly focuses Commercial procedure. And identifying its major strength and weakness based on some performance analysis is also the focusing point.