The article “Strategic Procurement in Textile and Apparel Sourcing Companies in Hong Kong: A Practitioner’s Perspective” identifies different elements of procurement and strategic sourcing. According to the authors, the apparel and textile sourcing firms in Honk Kong have always experienced numerous challenges such as turbulent markets and intensive competition. The study identified “how top managers were committed to the strategic procurement process and information sharing with their suppliers” (Yuen and Cheng 1154).
Some practices are also critical towards the success of every apparel company. Such practices “include continued commitment to information sharing, long-term interaction with different suppliers, supplier capability auditing (SCA), and establishment of supplier base optimization” (Yuen and Cheng 1148). Such practices have continued to determine the success of different apparel companies in the region. Such ideas are relevant because they can help newcomers develop the best sourcing and procurement strategies. The practices will “make it easier for the companies to achieve their competitive advantages and eventually emerge successful” (Yuen and Cheng 1153). The timely article also examines the major issues affecting every textile and apparel company in Hong Kong.
From a personal perspective, I believe that it would be a good idea to do business in China. The country is one of the emerging economies in the world. China’s huge population creates the best market for many apparel companies. The important thing is embracing most of the ideas presented in this article. The approach will ensure every foreign company develops the best corporate sourcing and procurement strategies (Yuen and Cheng 1156). These strategies will ensure every company achieves its competitive advantage. The country economic policies and structures will also support a new business in the apparel industry. Entrepreneurs should also examine the macroeconomic issues associated with the apparel industry.
Works Cited
Atilgan, Turan 2007, Eco-labeling Applications in the Textile & Apparel Sector in Turkey. Web.
Yuen, Simon and Calvin Cheng 2013, Strategic Procurement in Textile and Apparel Sourcing Companies in Hong Kong: A Practitioner’s Perspective. Web.