Demand Forecasting and Supplier Selection for Incoming Material in RMG Industry: A Case Study

Imrul Kaes, Abdullahil Azeem

Abstract


RMG sector is the single most important manufacturing industry in Bangladesh. Almost all of the raw materials in this sector are being imported from abroad. Hence, incoming material management is of paramount importance for effective and efficient management of the supply chain in this sector. This paper deals with incoming material management of a 100% export-oriented knit composite factory. Demand forecasting and supplier selection are two major components of incoming material management. Different techniques of demand forecasting have been implemented to find the best suitable model for a particular raw material. In supplier selection, AHP technique has been implemented to select the best supplier of the concerned raw materials. Successful implementation of the recommendations of this paper can significantly improve the level of material management and thereby increase overall profit by reducing waste.

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International Journal of Business and Management   ISSN 1833-3850 (Print)   ISSN 1833-8119 (Online)

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