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08 June 2016
Brandix honours Supply Chain partners at Vendor Summit
100 top supply chain partners congregate in Sri Lanka to recognise performance and prepare for future
Inspired performances by supply chain partners in FY 2015-16 contributed to the best year to date for apparel powerhouse Brandix, which honoured its top vendors at a gala Vendor Summit in Sri Lanka last week.
The top 100 vendors from the 350 that account for Brandix’s annual raw material spend attended the summit, half of them from 14 overseas locations. Presenting these key suppliers with an insight into the dynamics that propel the industry and a glimpse into the future, Brandix forecast it would double sales in the next five years, through a concentration on speed, quality, innovation and price.
Brandix had 530 vendor partners on its supply chain when the Group hosted its last Vendor Summit in 2011. While its business grew by 63 per cent in the five years that followed, the number of vendors supplying raw materials reduced to 350, and could fall to 150 by 2020, the summit was told.
“Our industry is one of intense competition where the dynamics are highly emotional on the one hand, and quite rational on the other,” Brandix Group Chairman Priyan Fernando said in his keynote address titled ‘A journey to best-in-class.’ “Brandix recognises both elements, the emotional and the rational, in its effort to produce phenomenal products better, faster and cheaper,” he said emphasising the need for continuous improvement through a focus on processes, speed and comprehensive management of risks.
Brandix CEO Ashroff Omar cautioned that 2016 would be a ‘rough year’ given the headwinds that the retail industry is facing, but said the Group is confident it will ride the storm successfully and prevail with the support of its supply chain partners.
Presentations were also made by Ranga Ranmadugala, CEO of Brandix Apparel Solutions Limited – Essentials and Brandix Lanka Chief Financial Officer, Hasitha Premaratne among others who spoke on Speed, Agility and Inspired Solutions, as well as Brandix’s long range plan respectively.
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