Clothing
Content
CHAPTER : 1
INTRODUCTION
As the technology advances each and every sector has been rapidly developed like
a Government Sector, Engineering Sector, etc. then how can the “READYMADE
GARMENT SHOP” become backward. Each and every person wants to look like a
hero and heroine. As the fashion takes place, they want to wear more fashionable
cloths. In movies actor and actresses are wearing different types of dresses and
saris. Every person wants to look like them. With the increase in fashion every
person want to wear that type of cloths. Some people purchase cloth material and
visit at the tailor shop for stitching the dresses they like. But it takes too much
time. Fashion is growing up day to day. Readymade Garment Shops are opened.
People are satisfied from Readymade Garment Shop and people also save their
valuable time. Readymade Garment Shop provides better design dresses to
customers. With the change in the trend in fashion market Readymade Garment
have become very popular. Most of the people used to wear Readymade Garment
Shop have become very popular. Most of the people used to wear Readymade
Garment in case of time saving activity. Especially ladies have taken very much
interest in new designs and fashionable garments. New fashion designers made
new trend designs to attract customers and mostly to female customers. They like
to wear new fashion cloths or new look of garment.
There are various types of dresses which are very reasonable to general or ordinary
people. Readymade Garment Company like as Nain See Private Ltd., Saujnya
Dresses, Ashika Sarries and Dresses, Garden Dresses, Damini Sarries and Salwar
Suit, etc. makes garment very attractive and it gives it special effect to that garment
or dresses to be very attractive. There work of various types of stitches like
“Kashmiri Buta, Kunadan Work or Jardari Work is become very famous in new
trend. There are various other companies are also work to give better quality
product. In recent years many people are interested in wearing Readymade cloths
and specially ladies have most interest in that type of cloths so when the researcher
is a lady it takes too much interest for the topic. So that researcher selected the
subject Readymade Garment Shop [Ladies Garment Shop] as the study of the
project.
SELECTION OF THE PROJECT
The best topic for the research is one which arises from the researchers own
curiosity. He can handle a topic in which he is really interested well than the one
suggested by someone else. The researcher who is prompted by scientific curiosity
may be interested in some general subject matter about which little is known. And
when there is a lady researcher for the topic like ladies cloths, the topic becomes
very interesting and gives best results. It is said that ‘select a project which will
bring out improvement in the present status of an activity’. Moreover such
improvement should be quantifiable. It means that it should be able to point out
how much time, money and other resources can be saved or how much
enhancement in sales, production, efficiency and productivity can be achieved
through the implementation and suggestions and solutions. The subject matter of
the project should be such that it has underlying management principles and
theoretical framework on the basis of what data can be collected, analyzed and
arguments can be developed. The project idea should be such that it should be
applicable in other similar situations like the development of the idea, proving or
disapproving of hypothesis and methodology. The project should not be so
exclusive that its principals have no other application. The project work should be
based on personnel hunch. The selection of the topic is very important job for the
researcher. In today’s competitive world employment is emerging great problem.
There are various causes responsible for increasing unemployment. Some of them
are even increasing population computerization and automation. Thus in today’s
world self employment is one of the best opportunity. Readymade Garment Shop
offers you this great opportunity of self employment. From the researchers point of
view it is very important that he will study all points related to his topic. So his
reason for doing this project to know how logistics helps in material management.
Logistics include the flow and storage of items from raw material to customer
delivery and other very important reason for selection of the particular topic is to
know about –
1) Material planning and control.
2) Purchase of goods.
3) Selling of goods.
4) Financial statement for the shop
5) Profit earnings etc.
PROFILE OF THE SUBJECT
There are various factors which plays very important part of any Readymade
Garment Shop. Followings are some of themA. Fashion:For some women, fashion is a way of life. It reflects their personality, their
attitude, their approach towards life, and their lifestyle. A closer look tells us that it
refers to a particular style of clothing which is worn by people on a national/
international level. Fashion is not restricted to clothing alone. Anything with a
touch of class, and a hint of the extraordinary, something that catches the eye
instantly, and is visually appealing, is fashionable. Thus, fashion is a phenomenon
that continues to change women's lives all over the world. Today women have
access to a wider range of fashionable clothes. Over the years, women have
embraced fashion to project themselves the way they want to. Whatever women
wear or use today, is a matter of great speculation and scrutiny. Fashion has entered
all arenas of women's lives, right from veiled hats to high-heeled shoes. Their
fashion consciousness and the need for fresh, new concepts and ideas from time to
time have given the fashion industry a major boost.
B. Fashion industry:The fashion industry is a huge platform which provides access to a wide range of
fashionable goods. This industry is a creative industry which involves continuous
change, innovativeness, and state-of-the-art technology. Women's fashion industry
comprises:
a. Designers
b. Manufacturers
c. Sellers/Marketers
d. Buyers
e. Others (Colorist, Forecaster, Illustrator, Models Etc.)
C. Market:The word market is derived from the Latin word “Mercantile” which means a place
where a business is conducted. In common parlance a market refers to a place
where buyers and sellers actually meet to effect purchase and sales. In other words,
a market is a particular place where goods are brought and sold. In a broader sense,
a market does not necessarily mean a place. The term ‘market’ and ‘sellers’ in
person, by mail, telephone, telegraph, cable fax as any other means of
communication so that their mind may meet of effect purchases and sales.
Philip Kolter says that,
“Market is the set of actual and potential buyers of product”.
D. Marketing:The term marketing refers to the sum of activities involved in finding out the needs
of the potential buyers developing the products and services to satisfy those needs
and making them available to those who need them at the slight time at the right
places, in the required quantities, at the right prices. Marketing consist of all those
activities which are included in the process of flow of goods from the production
centers to the consumers. The whole process involves the creation as time, place
and possession utility.
Druker defines that “Marketing is a process which converts resources, distinct
knowledge into a contribution of economic value in the market.”
E. Business
Business in an economic activity which is conducted with the aim as motive of
earning profits, business refers to all those activities which are concerned with
production and distribution of goods and services. The term business has two
wings or two aspects or two branches. One aspect of business is commerce.
Keith Devis says that, “Business may be defined as the organized efforts of
individuals to produce goods and services to sell these goods and services in a
market place and to reap some rewards for this effort.”
F. Advertising
The word advertising has been derived from the Latin word “Adverted” which
means ‘turn to’ as turning the attention towards the products. Advertisement means
to make the product know to the word with the help of attractive advertisement
policy. Customer may be demand more for those particular products but the main
function or work of advertising is create a place in minds of people to purchase the
product because the main objective of advertising is to increase the sale. Definition
given by Prof. Albert Fray “Advertising as the preparation or visual or oral
messages and their dissemination through paid media for the purpose of making
people aware of and favorably inclined towards a product, brand, service,
institution, idea or point of view”.
G. Services
In modern time services are extend become a valuable things for all the business in
situations services which are closely relating with the customer or user is the
necessity of every business with the help of services the seller provides number of
services to the customer or earning a profit or the other side consumer get
satisfaction of their need by paying same amount for the services. Another
important thing is that the people who want to share a thought, pleasure or pains
which are closely related with services.
H. Discount
Discount is a deduction given by seller to buyer on sale price of the goods so as
increase sale or for immediate payment of sale price in case of cash sale. It is
always offered by buyer at percentage (%) of sale price. Discount scheme will be
generally adopted in case of off season period. So as to attract the customer or
buyer will be ready to purchase bulk quantities of goods. “Discount is percentage
reduction on sale price i.e. each cash discount which reduces the invoice value of
goods which reduces the invoice value of goods e.g. 25% discount on cloths.”
I. Replacement guarantee
Replacement guarantee means the security to the customer about whole product. It
is the whole product may be change or replaced by another one. The customers
have to fallow the guarantee period for claim.
J. Gifts
Customers are very much attracted toward the gifts specially while giving one
dress free for purchasing two dresses. For that shopkeeper prepares big banner with
wording as_ “BUY TWO GET ONE FREE”
K. Window display
In this method actual good are displayed in showcases to attract the attention of the
prospective buyers. As the goods are displayed in showcases outside the shop,
people are allowed to watch and inspect the goods. This provokes the prospective
buyers to buy the goods.
L. Showroom
In this method of advertising spacious area is provided for display of goods hence
they are arranged very systematically in an attractive way. The visitors to such
showroom, who are prospective buyers, are allowed to handle and inspect the
goods presented in showroom.
M. Customer service
Customer service is the overall activity of identifying and satisfying customer
needs. . As an overall description of the desired relationship between a supplier and
a customer. 'Service' in this sense is based on the premise that every commercial
transaction is a service. Customer service is one of the most important ingredients
of the marketing mix for products and services. High quality customer service
helps to create customer loyalty. Customers today are not only interested in the
product they are being offered but all the additional elements of service that they
receive from the greeting they receive when they enter a retail outlet, to the refund
and help that they receive when they have a complaint about a faulty product that
they have paid for.
N. Customer expectation
Customers are people who buy products and services from other people. What
customers thin it is the job of marketers to understand the needs of their customers.
In doing so they can develop goods or services which meet their needs more
precisely than their competitors. The problem is that the process of buying a
product is more complex than it might at first appear. Customers do not usually
make purchases without thinking carefully about their requirements. Wherever
there is choice, decisions are involved, and these may be influenced by constantly
changing motives and feel about a company and/or its products is a key aspect of
business success.
O. Customer requirements
The supermarket industry provides a good example of the way in which different
groups of customers will have different expectations. Some customers just want to
buy standard products at the lowest possible prices. They will therefore shop from
supermarkets that offer the lowest prices and provide a reasonable range of goods.
In contrast, some supermarket shoppers are seeking such aspects as variety and
quality. They will therefore choose to buy from an up-market supermarket.
Additionally some customers will have special tastes such as wanting to buy
FAIRTRADE products or organic fruit and vegetables. It is clear therefore that to be
successful a business has to have a clear understanding of their
target customers and the expectations of this group.
1.4 IMPORTANCE OF THE SUBJECT
In modern business every business should be given greater importance whether it
has be in the nature of large, middle, small scale industry. The various important
things are in Readymade Garment Shop. In today’s large competition it is essential
to know ones market position. A successful organization has to know its strength
and weakness and in the market along with Readymade Garment. Market study
stimulates need by taking appropriate steps for remaining defects in its marketing
effect. Project of Readymade Garment serves as instrument for development of
certain important skills in commerce and management student to make earning
more effective these skills are as follows _
a)
b)
c)
d)
Analytical Skill
Communication Skill
Research Skill
Decision making Skill
Importance Of The Study Of Readymade Garment Shop Is As Follows:
I.
Readymade Garment Shop business is that type which has little
II.
investment and more profit.
It is a business where in short production period, business can earn a lot.
III.
IV.
This business provides grater availability of market.
In that kind of business we can provides various job opportunities to all
V.
kinds of people like men and women.
This project provides us information about various Government policies,
VI.
production policies, sale and profits, etc.
Readymade Garment Shop provides all types of knowledge for business,
market as well as employment.
*****
CHAPTER : 2
PROJECT METHODOLOGY
MEANING OF THE PROJECT:
A project is a scientific and systematic study of a real problem faced by and
organization with an object to resolve it with the application of management
concepts and skills. The study can deal with a small or a big problem faced by the
enterprise in a discipline of management like finance, marketing, production,
personnel. The essential requirement of a project is that it should entail scientific
collection, analysis and interpretation of data leading to valid conclusion. Form the
study attempting to diagnose and identify managerial problems and at the same
time providing him an exposure to the real business world. Form the organization
point of view it is a sort of feedback of its policies and plans which may facilitate
the decision making. A project is a kind of action oriented research aiming at the
detection managerial problem of a business organization and inviting the efforts to
solve those. It provides a scientific basis or managerial decision and actions.
Definition :
“A project is scientific and systematic study of real issue or a problem with the
intention of resolving the problem by application of management concept and
skill”. “A project work is a scientifically evolved work plan devised to achieve a
specific objective within a specified period of time.”
2.2 METHODOLOGY OF THE PROJECT
A. Project methodology
A project methodology tells you what you have to do, to manage your projects
from start to finish. It describes every step in the project life cycle in depth, so you
know exactly which tasks to complete, when and how. Whether you're an expert or
a novice, it helps you complete tasks faster than before. Method refers to the
procedure for obtaining knowledge based on empirical observations and logical
reasoning. Methodology refers to the logic of scientific investigation. It is a
procedure of empirical investigation. It is not concerned with build of knowledge
but how knowledge is built, i.e. how facts are collected classified and analyzed.
B. Methods of research
Following are the main types or method of research which are generally used by
any
researcher
a) Case study method
b) Historical method
c) Experimental method
d) Survey method.
a) case study method
Case study is a recent development in research. Case study is a method of
exploring and analyzing the life of a social unit, a person, a family, institution,
cultural group or even an entire community.
b) Historical method
This method investigates the past events and phenomena on the basis of historical
documents and evidences. It seeks to find explanation of questions of current
interest by an intensive study of past.
c) Experimental method
In this method the researcher studies the effect of independent variable on
dependent variable by artificially controlling the effect of rest of the variables. It is
conducted in fundamental sciences like physics, chemistry, biology, nuclear
science, etc. through laboratory experiments.
d) Survey method
The survey is a method of analysis in scientific and orderly form for defined
purpose of social situation of problem or population. Above explained are the basis
methods used for most of the researcher. In the project like readymade garment
shop researcher is interested to use the survey method because the survey method
is a technique of investigation by a direct observation of a phenomena or by
systematic gathering of data from population. It involves a systematic and
comprehensive study of a particular group, community, or organization, etc. with a
view to analyzed a social problem and presentation of recommendation for its
solutions. The first, second and third method both have some special conditions so
the researcher cannot apply it to each and every research. So it is better to use
survey method for deep study of our subject. In survey method a techniques of
investigation by direct observation is used. But we can also use various
publications, reference books, magazines, articles, etc. to collect data. So we select
the survey method for our research study.
2.3 DATA COLLECTION
A project work is totally depends on collection of data, or collecting all relevant
information which are necessary for project work. The collection of data means a
purposive gathering of information relevant to the subject matter of investigation
from the units of population under investigation. Collection of data makes the most
important step of any research enquiry or statistical enquiry. If data collected is not
correct, reliable, relevant, and appropriate, one can not obtain valid and useful
results from the enquiry. Collection of data requires common sense, experience,
and knowledge. One should be alert, tactful, cautious and sensitive while collecting
data for any statistical enquiry. In the preparation of this project report the data is
collected form above sources.
A. Primary sources
a. Observation
b. Interview
c. Questionnaire
B. Secondary sources
a.
b.
c.
d.
d. Magazines
e. Books
f. Library
g. Internet
2.4 OBJECTIVES OF THE STUDY
Followings are the main objects of the study
I.
II.
III.
IV.
To study the scope of financial approach concerning to the cloth business.
To find out the potential benefits and opportunities lie in this business.
To study the information about various suppliers of the product.
To study the management policy or formulation of production policy,
V.
VI.
marketing, storing, etc.
To make the study of marketing skills.
To evaluate profitability VII. To study the management of capital and
other sources.
VII. To acquire useful guidelines to venture in cloth market.
2.5 LIMITATIONS OF THE STUDY
I.
This project report mainly focused on ladies dress or other cloths trading,
which is just a part of cloth trading. Other different kinds of trades under
II.
clothing sector are not considered.
A new firm may find it difficult to enter in cloth trading as the already
III.
IV.
established firms may give them a tough competition.
The scope of study is limited to marketing profile of Readymade Garments.
The firm needs to maintain varieties of stock, which ultimately demanded
for huge investment.
*****
CHAPTER : 3
PROJECT COST
3.1 MEANING OF PROJECT COST
Project cost is a statement which presents detailed information relating to the
various stages of cost, and it also shows the total cost of product manufactured
during particular period of time. Thus the project cost is prepared for particular
period of time, via-monthly, quarterly or yearly, etc. It has already been explained
earlier that manufacturing accounts deals with cost relating to cost of goods
manufactured i.e. only prime cost & factory cost. Its offices and administration
expenses are added to the costs, we get the cost of production. Similarly, if selling
and distribution expenses are added to the cost of production we get cost of goods
sold or total cost.
Object of preparing project cost
I. The total cost and cost per unit of production can be ascertained. II. After proper
comparison the management may take the corrective measures. III. It helps the
management while formulating suitable production policy. IV. It is very helpful to
submit the price quotation for tenders. V. It also helps the management by
supplying suitable information for management control.
3.2 ANALYSIS OF FINANCE
Finance is the life blood of any industrial or commercial undertaking. It is needed
for starting the business. Some capital is required, without the money business are
not run in good manner. Because every need of the shop management fulfillment
made by the money. When starts the business, available money could a capital.
Capital is playing very important role in the business transactions. Finance is not
important in large scale and small scale. Every enterprise needs the finance these
fulfillment made by the following medium
A. Bank
B. Government policies
C. Private financial groups
D. Money lender
E. Finance from relatives
A. Bank
The business starts needs the finance. The businessman involves the all money for
the business function is growing fast. But all the business may not fully capable in
the finance department so they need the money. Various financial institutions are
ready to provide the facility of credit money. But most popular word in the
financial sector called a Bank. Banks play the important role in the industry
because the finance is the Readymade product which made the shop to run the
business. Banks provide the credit facility to the business. The capacity of credit
means loan depend upon the nature because the loan provide with the following
rules and conditions of Banks. In all view the finance taken from Bank economical
truthful, secure, etc. so that large amount loans are demanded from Bank. The
Bank provides the finance in low rate of interest. The comparison between the rate
of interest and services of both sides the Bank get the appreciated. Bank also
provides the special policies and schemes to the business. The transaction should
be held in accordance to the law. The investment made by self is only 20% to 30%
of total capital. Balance 70% to 80% amount is provided by the Banks. The
payment of loan in adjusting premium or installment all are overview of the
financial conditions.
B. Government policies
The business start for that needs the finance. The need of finance fulfillment is
made by Banks. The project passed by Government which provides the Bank loan
and the project allots the subsidies to the business. The Government provides the
infrastructure facility to the business. The Government also provides 20% to 30%
subsidies on the business cost. With adopting the strategy the industrial
development increases. The unemployment problem solves by Government by
providing financial assistance to the business. The different schemes and policies
attract to unemployment person to start the employment and self employment. The
Government wants to increase standard of living of society for that income of
every person increases.
C. private financial companies
The private financial companies provide the finance to the business. The need of
the business satisfies by money which provides by the private financial companies.
In current times the private companies are get part in the finance. So they provide
finance to the backward and economic backward class, needy persons,
businessman etc.
D. money lenders
For the every business need the finance. At that time the Banks and other sources
of finance are not capable or avoid provide the finance in certain limit. The
businessman goes to the money lender. Money lender provides the finance in large
manner with less paperwork. The less paper is the advantage in the businessman’s
side so that he takes loan form money lender on a high rate of interest. The
comparison between Bank and other sources of finance the difference in the rate of
interest. The money lender provide loan without security of wealth. They provide
on one sign on paper. The earliest get the finance in simple manner so that the
businessman attract towards the money lenders for the finance.
E. Finance from Relatives
The business gets the finance from the various source of finance. One of that is
finance from Relatives. In the business need of finance is the important thing.
Suddenly the emergency finance availability gets only the relatives of the
businessman. The finance gets without any security. Get money without any
interest and pay only principal amount. When person needs the finance firstly goes
to the relatives for the help.
3.3 ANALYSIS OF THE PROJECT COST
Cost analysis means that the drafting of all the procedure which relates the
production i.e. calculation of the project cost of Readymade Garment Shop. In the
pre-historic Stone Age when man killed an animal with the forces of his hand,
without the use of weapon. The cost activity was “Labor”. When that man
converted animals hide into his clothes the cost of his activity was material +
Labor and when articles began to be manufactured in his factories as in the present
age the cost of the output began to count as_
Material + Labor + Expenses.
*****
Chapter :4
CONCLUSIONS AND SUGGESTIONS
A. CONCLUSIONS
1. Clothing and textile sector forms a part for heritage of India and exemplifies
the richness and diversity of our country.
2. Akola town itself is the biggest cloth market throughout the vidarbha region.
3. Cloth trading is having an important place in Akola market. This project
throws light on clothing sector and business opportunities it has.
4. New entrepreneurs may venture into this sector to acquire the potentials and
benefits lie in this field.
5. Through this project, one can develop and understandings of the nature,
scope and financial aspect of cloth business especially trading of dress
material.
6. As the Indian fashion industry is growing every day, Indian dress designer’s
touch, creating garment which are truly outstanding. Designers are always
experimenting with the new design, style every season. For this purpose, they
require dress material.
7. One can show their creativity and innovative thinking over cloth material as
they cannot experiment with readymade outfits.
8. People today are more fashion conscious. They prefer to wear fashionable
and designer outfit. So this business is more profitable.
9. Women want to be more stylish and descent. So they like to buy dress from
more reliable and stylish shop as per their requirement.
10.They want the dress which are more designed and stitched with latest
fashion. So the readymade garment shop gets the indeed significant place in
market.
11.This business requires huge investment and it also involves some risk factors.
12.Its scope is wider as Akola is rapidly growing and developing market place.
B. SUGGESTIONS
Followings are the few suggestions which I would like to suggest for this type of
business.
1. To open a cloth shop it is recommended to invest a fairly huge sum of money
2. Variety of stock is to be maintained as the fashion of cloth changes too
rapidly, moreover huge color rang is to be maintain to satisfy the needs of
customers.
3. Owing to cut throat competition the shop owner needs to keep latest and
fashionable stock to attract to large number of customers.
4. Location plays the key role for this business. For a shop in a prime locality
would definitely be a plus point for the business.
5. Take care of customers by providing them various services to be still stand in
the market for long time.
6. They should have to know customer value
7. They have to develop their communication skill.
8. They should always aware about their social responsibility.
9. Develop self confidence and sufficient product knowledge.
10.They should adopt pleasant and likable disposition
11.Sense of humor necessary to cool down an angry customer and reduce
tension in the atmosphere.
12.Tactfulness to do the correct things at the right moment to win customers.
13.Co-operation and helpfulness to build an effective sales team and to develop
good customer relationship.
*****
INTRODUCTION
As the technology advances each and every sector has been rapidly developed like
a Government Sector, Engineering Sector, etc. then how can the “READYMADE
GARMENT SHOP” become backward. Each and every person wants to look like a
hero and heroine. As the fashion takes place, they want to wear more fashionable
cloths. In movies actor and actresses are wearing different types of dresses and
saris. Every person wants to look like them. With the increase in fashion every
person want to wear that type of cloths. Some people purchase cloth material and
visit at the tailor shop for stitching the dresses they like. But it takes too much
time. Fashion is growing up day to day. Readymade Garment Shops are opened.
People are satisfied from Readymade Garment Shop and people also save their
valuable time. Readymade Garment Shop provides better design dresses to
customers. With the change in the trend in fashion market Readymade Garment
have become very popular. Most of the people used to wear Readymade Garment
Shop have become very popular. Most of the people used to wear Readymade
Garment in case of time saving activity. Especially ladies have taken very much
interest in new designs and fashionable garments. New fashion designers made
new trend designs to attract customers and mostly to female customers. They like
to wear new fashion cloths or new look of garment.
There are various types of dresses which are very reasonable to general or ordinary
people. Readymade Garment Company like as Nain See Private Ltd., Saujnya
Dresses, Ashika Sarries and Dresses, Garden Dresses, Damini Sarries and Salwar
Suit, etc. makes garment very attractive and it gives it special effect to that garment
or dresses to be very attractive. There work of various types of stitches like
“Kashmiri Buta, Kunadan Work or Jardari Work is become very famous in new
trend. There are various other companies are also work to give better quality
product. In recent years many people are interested in wearing Readymade cloths
and specially ladies have most interest in that type of cloths so when the researcher
is a lady it takes too much interest for the topic. So that researcher selected the
subject Readymade Garment Shop [Ladies Garment Shop] as the study of the
project.
SELECTION OF THE PROJECT
The best topic for the research is one which arises from the researchers own
curiosity. He can handle a topic in which he is really interested well than the one
suggested by someone else. The researcher who is prompted by scientific curiosity
may be interested in some general subject matter about which little is known. And
when there is a lady researcher for the topic like ladies cloths, the topic becomes
very interesting and gives best results. It is said that ‘select a project which will
bring out improvement in the present status of an activity’. Moreover such
improvement should be quantifiable. It means that it should be able to point out
how much time, money and other resources can be saved or how much
enhancement in sales, production, efficiency and productivity can be achieved
through the implementation and suggestions and solutions. The subject matter of
the project should be such that it has underlying management principles and
theoretical framework on the basis of what data can be collected, analyzed and
arguments can be developed. The project idea should be such that it should be
applicable in other similar situations like the development of the idea, proving or
disapproving of hypothesis and methodology. The project should not be so
exclusive that its principals have no other application. The project work should be
based on personnel hunch. The selection of the topic is very important job for the
researcher. In today’s competitive world employment is emerging great problem.
There are various causes responsible for increasing unemployment. Some of them
are even increasing population computerization and automation. Thus in today’s
world self employment is one of the best opportunity. Readymade Garment Shop
offers you this great opportunity of self employment. From the researchers point of
view it is very important that he will study all points related to his topic. So his
reason for doing this project to know how logistics helps in material management.
Logistics include the flow and storage of items from raw material to customer
delivery and other very important reason for selection of the particular topic is to
know about –
1) Material planning and control.
2) Purchase of goods.
3) Selling of goods.
4) Financial statement for the shop
5) Profit earnings etc.
PROFILE OF THE SUBJECT
There are various factors which plays very important part of any Readymade
Garment Shop. Followings are some of themA. Fashion:For some women, fashion is a way of life. It reflects their personality, their
attitude, their approach towards life, and their lifestyle. A closer look tells us that it
refers to a particular style of clothing which is worn by people on a national/
international level. Fashion is not restricted to clothing alone. Anything with a
touch of class, and a hint of the extraordinary, something that catches the eye
instantly, and is visually appealing, is fashionable. Thus, fashion is a phenomenon
that continues to change women's lives all over the world. Today women have
access to a wider range of fashionable clothes. Over the years, women have
embraced fashion to project themselves the way they want to. Whatever women
wear or use today, is a matter of great speculation and scrutiny. Fashion has entered
all arenas of women's lives, right from veiled hats to high-heeled shoes. Their
fashion consciousness and the need for fresh, new concepts and ideas from time to
time have given the fashion industry a major boost.
B. Fashion industry:The fashion industry is a huge platform which provides access to a wide range of
fashionable goods. This industry is a creative industry which involves continuous
change, innovativeness, and state-of-the-art technology. Women's fashion industry
comprises:
a. Designers
b. Manufacturers
c. Sellers/Marketers
d. Buyers
e. Others (Colorist, Forecaster, Illustrator, Models Etc.)
C. Market:The word market is derived from the Latin word “Mercantile” which means a place
where a business is conducted. In common parlance a market refers to a place
where buyers and sellers actually meet to effect purchase and sales. In other words,
a market is a particular place where goods are brought and sold. In a broader sense,
a market does not necessarily mean a place. The term ‘market’ and ‘sellers’ in
person, by mail, telephone, telegraph, cable fax as any other means of
communication so that their mind may meet of effect purchases and sales.
Philip Kolter says that,
“Market is the set of actual and potential buyers of product”.
D. Marketing:The term marketing refers to the sum of activities involved in finding out the needs
of the potential buyers developing the products and services to satisfy those needs
and making them available to those who need them at the slight time at the right
places, in the required quantities, at the right prices. Marketing consist of all those
activities which are included in the process of flow of goods from the production
centers to the consumers. The whole process involves the creation as time, place
and possession utility.
Druker defines that “Marketing is a process which converts resources, distinct
knowledge into a contribution of economic value in the market.”
E. Business
Business in an economic activity which is conducted with the aim as motive of
earning profits, business refers to all those activities which are concerned with
production and distribution of goods and services. The term business has two
wings or two aspects or two branches. One aspect of business is commerce.
Keith Devis says that, “Business may be defined as the organized efforts of
individuals to produce goods and services to sell these goods and services in a
market place and to reap some rewards for this effort.”
F. Advertising
The word advertising has been derived from the Latin word “Adverted” which
means ‘turn to’ as turning the attention towards the products. Advertisement means
to make the product know to the word with the help of attractive advertisement
policy. Customer may be demand more for those particular products but the main
function or work of advertising is create a place in minds of people to purchase the
product because the main objective of advertising is to increase the sale. Definition
given by Prof. Albert Fray “Advertising as the preparation or visual or oral
messages and their dissemination through paid media for the purpose of making
people aware of and favorably inclined towards a product, brand, service,
institution, idea or point of view”.
G. Services
In modern time services are extend become a valuable things for all the business in
situations services which are closely relating with the customer or user is the
necessity of every business with the help of services the seller provides number of
services to the customer or earning a profit or the other side consumer get
satisfaction of their need by paying same amount for the services. Another
important thing is that the people who want to share a thought, pleasure or pains
which are closely related with services.
H. Discount
Discount is a deduction given by seller to buyer on sale price of the goods so as
increase sale or for immediate payment of sale price in case of cash sale. It is
always offered by buyer at percentage (%) of sale price. Discount scheme will be
generally adopted in case of off season period. So as to attract the customer or
buyer will be ready to purchase bulk quantities of goods. “Discount is percentage
reduction on sale price i.e. each cash discount which reduces the invoice value of
goods which reduces the invoice value of goods e.g. 25% discount on cloths.”
I. Replacement guarantee
Replacement guarantee means the security to the customer about whole product. It
is the whole product may be change or replaced by another one. The customers
have to fallow the guarantee period for claim.
J. Gifts
Customers are very much attracted toward the gifts specially while giving one
dress free for purchasing two dresses. For that shopkeeper prepares big banner with
wording as_ “BUY TWO GET ONE FREE”
K. Window display
In this method actual good are displayed in showcases to attract the attention of the
prospective buyers. As the goods are displayed in showcases outside the shop,
people are allowed to watch and inspect the goods. This provokes the prospective
buyers to buy the goods.
L. Showroom
In this method of advertising spacious area is provided for display of goods hence
they are arranged very systematically in an attractive way. The visitors to such
showroom, who are prospective buyers, are allowed to handle and inspect the
goods presented in showroom.
M. Customer service
Customer service is the overall activity of identifying and satisfying customer
needs. . As an overall description of the desired relationship between a supplier and
a customer. 'Service' in this sense is based on the premise that every commercial
transaction is a service. Customer service is one of the most important ingredients
of the marketing mix for products and services. High quality customer service
helps to create customer loyalty. Customers today are not only interested in the
product they are being offered but all the additional elements of service that they
receive from the greeting they receive when they enter a retail outlet, to the refund
and help that they receive when they have a complaint about a faulty product that
they have paid for.
N. Customer expectation
Customers are people who buy products and services from other people. What
customers thin it is the job of marketers to understand the needs of their customers.
In doing so they can develop goods or services which meet their needs more
precisely than their competitors. The problem is that the process of buying a
product is more complex than it might at first appear. Customers do not usually
make purchases without thinking carefully about their requirements. Wherever
there is choice, decisions are involved, and these may be influenced by constantly
changing motives and feel about a company and/or its products is a key aspect of
business success.
O. Customer requirements
The supermarket industry provides a good example of the way in which different
groups of customers will have different expectations. Some customers just want to
buy standard products at the lowest possible prices. They will therefore shop from
supermarkets that offer the lowest prices and provide a reasonable range of goods.
In contrast, some supermarket shoppers are seeking such aspects as variety and
quality. They will therefore choose to buy from an up-market supermarket.
Additionally some customers will have special tastes such as wanting to buy
FAIRTRADE products or organic fruit and vegetables. It is clear therefore that to be
successful a business has to have a clear understanding of their
target customers and the expectations of this group.
1.4 IMPORTANCE OF THE SUBJECT
In modern business every business should be given greater importance whether it
has be in the nature of large, middle, small scale industry. The various important
things are in Readymade Garment Shop. In today’s large competition it is essential
to know ones market position. A successful organization has to know its strength
and weakness and in the market along with Readymade Garment. Market study
stimulates need by taking appropriate steps for remaining defects in its marketing
effect. Project of Readymade Garment serves as instrument for development of
certain important skills in commerce and management student to make earning
more effective these skills are as follows _
a)
b)
c)
d)
Analytical Skill
Communication Skill
Research Skill
Decision making Skill
Importance Of The Study Of Readymade Garment Shop Is As Follows:
I.
Readymade Garment Shop business is that type which has little
II.
investment and more profit.
It is a business where in short production period, business can earn a lot.
III.
IV.
This business provides grater availability of market.
In that kind of business we can provides various job opportunities to all
V.
kinds of people like men and women.
This project provides us information about various Government policies,
VI.
production policies, sale and profits, etc.
Readymade Garment Shop provides all types of knowledge for business,
market as well as employment.
*****
CHAPTER : 2
PROJECT METHODOLOGY
MEANING OF THE PROJECT:
A project is a scientific and systematic study of a real problem faced by and
organization with an object to resolve it with the application of management
concepts and skills. The study can deal with a small or a big problem faced by the
enterprise in a discipline of management like finance, marketing, production,
personnel. The essential requirement of a project is that it should entail scientific
collection, analysis and interpretation of data leading to valid conclusion. Form the
study attempting to diagnose and identify managerial problems and at the same
time providing him an exposure to the real business world. Form the organization
point of view it is a sort of feedback of its policies and plans which may facilitate
the decision making. A project is a kind of action oriented research aiming at the
detection managerial problem of a business organization and inviting the efforts to
solve those. It provides a scientific basis or managerial decision and actions.
Definition :
“A project is scientific and systematic study of real issue or a problem with the
intention of resolving the problem by application of management concept and
skill”. “A project work is a scientifically evolved work plan devised to achieve a
specific objective within a specified period of time.”
2.2 METHODOLOGY OF THE PROJECT
A. Project methodology
A project methodology tells you what you have to do, to manage your projects
from start to finish. It describes every step in the project life cycle in depth, so you
know exactly which tasks to complete, when and how. Whether you're an expert or
a novice, it helps you complete tasks faster than before. Method refers to the
procedure for obtaining knowledge based on empirical observations and logical
reasoning. Methodology refers to the logic of scientific investigation. It is a
procedure of empirical investigation. It is not concerned with build of knowledge
but how knowledge is built, i.e. how facts are collected classified and analyzed.
B. Methods of research
Following are the main types or method of research which are generally used by
any
researcher
a) Case study method
b) Historical method
c) Experimental method
d) Survey method.
a) case study method
Case study is a recent development in research. Case study is a method of
exploring and analyzing the life of a social unit, a person, a family, institution,
cultural group or even an entire community.
b) Historical method
This method investigates the past events and phenomena on the basis of historical
documents and evidences. It seeks to find explanation of questions of current
interest by an intensive study of past.
c) Experimental method
In this method the researcher studies the effect of independent variable on
dependent variable by artificially controlling the effect of rest of the variables. It is
conducted in fundamental sciences like physics, chemistry, biology, nuclear
science, etc. through laboratory experiments.
d) Survey method
The survey is a method of analysis in scientific and orderly form for defined
purpose of social situation of problem or population. Above explained are the basis
methods used for most of the researcher. In the project like readymade garment
shop researcher is interested to use the survey method because the survey method
is a technique of investigation by a direct observation of a phenomena or by
systematic gathering of data from population. It involves a systematic and
comprehensive study of a particular group, community, or organization, etc. with a
view to analyzed a social problem and presentation of recommendation for its
solutions. The first, second and third method both have some special conditions so
the researcher cannot apply it to each and every research. So it is better to use
survey method for deep study of our subject. In survey method a techniques of
investigation by direct observation is used. But we can also use various
publications, reference books, magazines, articles, etc. to collect data. So we select
the survey method for our research study.
2.3 DATA COLLECTION
A project work is totally depends on collection of data, or collecting all relevant
information which are necessary for project work. The collection of data means a
purposive gathering of information relevant to the subject matter of investigation
from the units of population under investigation. Collection of data makes the most
important step of any research enquiry or statistical enquiry. If data collected is not
correct, reliable, relevant, and appropriate, one can not obtain valid and useful
results from the enquiry. Collection of data requires common sense, experience,
and knowledge. One should be alert, tactful, cautious and sensitive while collecting
data for any statistical enquiry. In the preparation of this project report the data is
collected form above sources.
A. Primary sources
a. Observation
b. Interview
c. Questionnaire
B. Secondary sources
a.
b.
c.
d.
d. Magazines
e. Books
f. Library
g. Internet
2.4 OBJECTIVES OF THE STUDY
Followings are the main objects of the study
I.
II.
III.
IV.
To study the scope of financial approach concerning to the cloth business.
To find out the potential benefits and opportunities lie in this business.
To study the information about various suppliers of the product.
To study the management policy or formulation of production policy,
V.
VI.
marketing, storing, etc.
To make the study of marketing skills.
To evaluate profitability VII. To study the management of capital and
other sources.
VII. To acquire useful guidelines to venture in cloth market.
2.5 LIMITATIONS OF THE STUDY
I.
This project report mainly focused on ladies dress or other cloths trading,
which is just a part of cloth trading. Other different kinds of trades under
II.
clothing sector are not considered.
A new firm may find it difficult to enter in cloth trading as the already
III.
IV.
established firms may give them a tough competition.
The scope of study is limited to marketing profile of Readymade Garments.
The firm needs to maintain varieties of stock, which ultimately demanded
for huge investment.
*****
CHAPTER : 3
PROJECT COST
3.1 MEANING OF PROJECT COST
Project cost is a statement which presents detailed information relating to the
various stages of cost, and it also shows the total cost of product manufactured
during particular period of time. Thus the project cost is prepared for particular
period of time, via-monthly, quarterly or yearly, etc. It has already been explained
earlier that manufacturing accounts deals with cost relating to cost of goods
manufactured i.e. only prime cost & factory cost. Its offices and administration
expenses are added to the costs, we get the cost of production. Similarly, if selling
and distribution expenses are added to the cost of production we get cost of goods
sold or total cost.
Object of preparing project cost
I. The total cost and cost per unit of production can be ascertained. II. After proper
comparison the management may take the corrective measures. III. It helps the
management while formulating suitable production policy. IV. It is very helpful to
submit the price quotation for tenders. V. It also helps the management by
supplying suitable information for management control.
3.2 ANALYSIS OF FINANCE
Finance is the life blood of any industrial or commercial undertaking. It is needed
for starting the business. Some capital is required, without the money business are
not run in good manner. Because every need of the shop management fulfillment
made by the money. When starts the business, available money could a capital.
Capital is playing very important role in the business transactions. Finance is not
important in large scale and small scale. Every enterprise needs the finance these
fulfillment made by the following medium
A. Bank
B. Government policies
C. Private financial groups
D. Money lender
E. Finance from relatives
A. Bank
The business starts needs the finance. The businessman involves the all money for
the business function is growing fast. But all the business may not fully capable in
the finance department so they need the money. Various financial institutions are
ready to provide the facility of credit money. But most popular word in the
financial sector called a Bank. Banks play the important role in the industry
because the finance is the Readymade product which made the shop to run the
business. Banks provide the credit facility to the business. The capacity of credit
means loan depend upon the nature because the loan provide with the following
rules and conditions of Banks. In all view the finance taken from Bank economical
truthful, secure, etc. so that large amount loans are demanded from Bank. The
Bank provides the finance in low rate of interest. The comparison between the rate
of interest and services of both sides the Bank get the appreciated. Bank also
provides the special policies and schemes to the business. The transaction should
be held in accordance to the law. The investment made by self is only 20% to 30%
of total capital. Balance 70% to 80% amount is provided by the Banks. The
payment of loan in adjusting premium or installment all are overview of the
financial conditions.
B. Government policies
The business start for that needs the finance. The need of finance fulfillment is
made by Banks. The project passed by Government which provides the Bank loan
and the project allots the subsidies to the business. The Government provides the
infrastructure facility to the business. The Government also provides 20% to 30%
subsidies on the business cost. With adopting the strategy the industrial
development increases. The unemployment problem solves by Government by
providing financial assistance to the business. The different schemes and policies
attract to unemployment person to start the employment and self employment. The
Government wants to increase standard of living of society for that income of
every person increases.
C. private financial companies
The private financial companies provide the finance to the business. The need of
the business satisfies by money which provides by the private financial companies.
In current times the private companies are get part in the finance. So they provide
finance to the backward and economic backward class, needy persons,
businessman etc.
D. money lenders
For the every business need the finance. At that time the Banks and other sources
of finance are not capable or avoid provide the finance in certain limit. The
businessman goes to the money lender. Money lender provides the finance in large
manner with less paperwork. The less paper is the advantage in the businessman’s
side so that he takes loan form money lender on a high rate of interest. The
comparison between Bank and other sources of finance the difference in the rate of
interest. The money lender provide loan without security of wealth. They provide
on one sign on paper. The earliest get the finance in simple manner so that the
businessman attract towards the money lenders for the finance.
E. Finance from Relatives
The business gets the finance from the various source of finance. One of that is
finance from Relatives. In the business need of finance is the important thing.
Suddenly the emergency finance availability gets only the relatives of the
businessman. The finance gets without any security. Get money without any
interest and pay only principal amount. When person needs the finance firstly goes
to the relatives for the help.
3.3 ANALYSIS OF THE PROJECT COST
Cost analysis means that the drafting of all the procedure which relates the
production i.e. calculation of the project cost of Readymade Garment Shop. In the
pre-historic Stone Age when man killed an animal with the forces of his hand,
without the use of weapon. The cost activity was “Labor”. When that man
converted animals hide into his clothes the cost of his activity was material +
Labor and when articles began to be manufactured in his factories as in the present
age the cost of the output began to count as_
Material + Labor + Expenses.
*****
Chapter :4
CONCLUSIONS AND SUGGESTIONS
A. CONCLUSIONS
1. Clothing and textile sector forms a part for heritage of India and exemplifies
the richness and diversity of our country.
2. Akola town itself is the biggest cloth market throughout the vidarbha region.
3. Cloth trading is having an important place in Akola market. This project
throws light on clothing sector and business opportunities it has.
4. New entrepreneurs may venture into this sector to acquire the potentials and
benefits lie in this field.
5. Through this project, one can develop and understandings of the nature,
scope and financial aspect of cloth business especially trading of dress
material.
6. As the Indian fashion industry is growing every day, Indian dress designer’s
touch, creating garment which are truly outstanding. Designers are always
experimenting with the new design, style every season. For this purpose, they
require dress material.
7. One can show their creativity and innovative thinking over cloth material as
they cannot experiment with readymade outfits.
8. People today are more fashion conscious. They prefer to wear fashionable
and designer outfit. So this business is more profitable.
9. Women want to be more stylish and descent. So they like to buy dress from
more reliable and stylish shop as per their requirement.
10.They want the dress which are more designed and stitched with latest
fashion. So the readymade garment shop gets the indeed significant place in
market.
11.This business requires huge investment and it also involves some risk factors.
12.Its scope is wider as Akola is rapidly growing and developing market place.
B. SUGGESTIONS
Followings are the few suggestions which I would like to suggest for this type of
business.
1. To open a cloth shop it is recommended to invest a fairly huge sum of money
2. Variety of stock is to be maintained as the fashion of cloth changes too
rapidly, moreover huge color rang is to be maintain to satisfy the needs of
customers.
3. Owing to cut throat competition the shop owner needs to keep latest and
fashionable stock to attract to large number of customers.
4. Location plays the key role for this business. For a shop in a prime locality
would definitely be a plus point for the business.
5. Take care of customers by providing them various services to be still stand in
the market for long time.
6. They should have to know customer value
7. They have to develop their communication skill.
8. They should always aware about their social responsibility.
9. Develop self confidence and sufficient product knowledge.
10.They should adopt pleasant and likable disposition
11.Sense of humor necessary to cool down an angry customer and reduce
tension in the atmosphere.
12.Tactfulness to do the correct things at the right moment to win customers.
13.Co-operation and helpfulness to build an effective sales team and to develop
good customer relationship.
*****
