Study on the effectiveness of recent management strategies to retain order volume of the apparel industry in Sri Lanka

Abstract

Sri Lanka's apparel industry, a cornerstone of the national economy, faces challenges in maintaining order volume. A significant contributor to the national economy but faces increasing pressure to retain order volume in a competitive global market. Several factors can lead to declining order volume, including, rising production costs such as labour costs, raw materials, and energy prices can make Sri Lanka less competitive compared to other apparel producing countries. Shifting consumer demands such as fast fashion trends and increasing customer focus on factors like sustainability and ethical production require constant adaptation. Technological advancements such as automation and digitalization in the apparel industry can impact production efficiency and responsiveness. Recognizing these challenges, Sri Lankan top apparel companies have implemented various management strategies to remain resilient during the order volume drop by finding what is the best to overcome and retain the orders. This study is motivated by the need to understand the effectiveness of these recently adopted management strategies in retaining order volume. Evaluating their impact will provide valuable insights into identifying which strategies are most successful in retaining orders and informing future management decisions, communicating procedures that support the apparel industry's competitiveness and long-term growth. Understanding the evolving landscape of the Sri Lankan apparel industry and adapting their approaches accordingly. The study employs in-person and online interviews to gather data from Sri Lankan top apparel companies. This is a qualitative research with thematic analysis, where the main objective is to reveal the effectiveness of these recent management strategies in retaining order volume and suggest areas for further improvement. The key finding such as price, lead time, Customer relationships management, Innovation & forward thinking ideas are recommended with specific actions for apparel companies and policymakers to further enhance order volume retention. This might include focusing on underutilized strategies or refining existing approaches. This research contributes to the understanding of how Sri Lankan apparel companies can adapt and thrive in the competitive global market.