Source: The New Nation
Industry insiders hail the platform as a game-changer, promising to reduce costs, expedite sourcing processes, and propel the industry towards greater efficiency.
Bangladesh’s garment sector has enjoyed remarkable success, making a significant contribution to the national economy. However, there is a growing recognition of the need for digital transformation to remain competitive in the global marketplace.
The sheer volume of communication through emails, phone calls, messages, and physical documents made it difficult to maintain a clear record, potentially leading to oversights and miscommunication.
Enter “Threadwel,” a comprehensive digital procurement marketplace designed to streamline communication and collaboration between garment manufacturers and raw material suppliers. Threadwel offers a user-friendly platform that connects businesses seamlessly.
Entrepreneurs can leverage Threadwel to access a broader range of suppliers, ensuring they find the most cost-effective and high-quality options for their needs. Suppliers, on the other hand, gain access to a wider range of potential clients and new business opportunities, all from the convenience of their own workspace.
“Threadwel eliminates the need for time-consuming back-and-forth communication or cumbersome paper trails,” explained Md. Mahmudul Kabir, co-founder and managing director of the platform, in an interview with The New Nation. “Our platform offers intuitive ‘order tracking’ and ‘automated document generation’ systems, allowing both parties to effortlessly manage and monitor the progress of all procurement projects.”
“By fostering these connections and streamlining procurement end-to-end, Threadwel boosts efficiency, reduces costs, and enhances competitiveness for the whole RMG industry,” he added.
He further said, “Traditionally, communicating product requirements to just one supplier entails 2-3 phone calls and emails, each taking 5–10 minutes. For 3-5 suppliers, this adds up to 1-3 hours per order. Digitization allows reaching over 25–30 suppliers in under 5 minutes.”
Mohiuddin Rubel, Director of the Bangladesh Garments Manufacturers and Exporters Association (BGMEA), said, “It is a good initiative to reduce time and cost, as well as it will help us achieve our apparel export target in the coming days.”
The platform will create and request price quotations in minutes, instantly reach a large pool of qualified suppliers with quotation requests, and help to choose from a vast database with 1000+ products spanning multiple industries.
On the other hand, suppliers can effortlessly access opportunities and bid from their own space.
The system will also compile a comprehensive cost comparison sheet automatically as bidding closes, generate a fully detailed PO, including terms and conditions, and send it seamlessly to the chosen supplier. This streamlined process ensures accuracy and efficiency and eliminates manual document drafting. It will also help to track orders through one user-friendly interface, eliminating the need for constant status inquiries.
