Embarks on a journey to develop a long term strategic plan to gain sustainable competitive advantage
South Asia Textiles Limited, a leading Sri Lankan textile manufacturer specialized in producing exceptional quality weft knitted fabric and polar fleece, recently nominated MTI Consulting to conduct a detailed review of their current position and develop a long term strategic business plan. This project will also encompass South Asia Textiles’ future direction in terms of achieving significant growth while creating sustainable competitive advantage and maintaining its dominance within the dynamic textile industry.
South Asia Textiles, a subsidiary of Lanka Century Investments PLC, commenced its commercial operations in 2004. Strategically located in close proximity to garment manufacturing units and export processing zones that produces high quality garments to both local and international clients, South Asia Textiles maintains its manufacturing dominance through its ultra-modern manufacturing plant that produces exceptional quality weft knitted fabric. The company also specializes in knitting, dyeing, finishing, printing, brushing, sueding and anti-pin micro/polar fleece fabric for leading global brands such as Victoria Secret, Next, Marks & Spencer, Tesco, Calvin Klein, Decathlon and Adidas. South Asia Textile’s strategic location, attention to detail, superior levels of client servicing and modern technology continues to assure these global giants of a being a credible Sri Lankan source for quality textiles which is in par with international standards and supplied with faster lead times.
“The global fashion industry has always been very dynamic. Trends in fashion have short life cycles and with the influence of e-commerce and m-commerce, these cycles have become even shorter. Global markets are shrinking and competition is intense. The total industry is experiencing rapid changes much faster than 5-10 years ago. As an important spoke of the supply chain process to the fashion industry, the regional apparel industry is also experiencing rapid change. Sustainability, in this race, is key for survival,” stated Mr. Pritiv Dorai – Managing Director/Chief Executive Officer of South Asia Textiles Limited.
“While Sri Lanka has earned reasonable credibility as a producer for quality apparel products, it is being continuously challenged by its regional competitors. Therefore, organizations such as ours need to be aware of these changes, aligned to react and equipped to seize these opportunities profitably,” Dorai continued. “For this purpose, we have sought the expertise of ‘MTI Consulting’ to assist us in achieving our long term vision. We believe that through this partnership, we will be able to create that sustainable competitive advantage South Asia Textile requires in order to compete within the global industry,” Dorai concluded.
In order to assist South Asia Textiles, MTI will employ its internationally acclaimed 8S® Model framework to execute the project. This framework would engage the management team through a highly inclusive process of strategic planning consisting of eight stages namely; Scope, Scan, Sights, Strategy, Structure, Staff, Sustainability/Social Responsibility and Systems.
“In order to guard its competitive position from potential regional threats, South Asia Textiles has understood the importance of responding effectively and profitably to the fast changing dynamics of the industry. As a result, the need to identify and chart its strategic direction becomes essential. With the implementation of this project, the company has opted for a proactive stance and is equipping themselves internally to face the changes and challenges that they may encounter in the future”, said Hilmy Cader, CEO of MTI.
MTI Consulting is an internationally-networked boutique management consultancy, offering advisory services in Strategy, Strategic Planning, Corporate Re-structuring, Process Re-engineering, Performance Management, International Market Entry, Feasibility Studies, Due Diligence, Corporate Finance, Mergers and Acquisitions, HR, Executive Search / Head Hunting, Marketing Strategy, Branding and Market Research. Since its inception in 1997, MTI has worked on over 550 assignments in over 41 countries, covering a diverse range of industries, clients and business challenges.
With technology, flexibility and greater manufacturing capacity, South Asia Textiles is able to cater to a wide variety of orders, be it dyed, printed, brushed/suede or yam dyed fabric. The company recently announced its plans for a massive expansion which included investments into the very latest state-of-the-art textile technology and machinery with the objective of converting the entire factory into a green project – resulting in South Asia being the first textile manufacturer to go green. The company further boasts of being the only weft fabric manufacturer in Sri Lanka to produce over 400 qualities with a specialty in achieving the lowest shrinkage standards in the industry.
Photo: From left: Pritiv Dorai – MD/CEO – SATL, Hilmy Cader – CEO – MTI Consulting and Rushka Silva Jayatilake, Business Analyst – MTI