Next Sourcing recognizes outstanding suppliers
next Sourcing, a fully-owned subsidiary of the retail clothing and accessory giant next PLC UK, recognized and rewarded its supplier base at Suppliers’ Seminar 2017, held at Park Street Mews Colombo recently.
During the course of the event, the company presented awards to the top three suppliers for their outstanding performance despite the numerous challenges during the latest fiscal year. The Gold award was won by next Manufacturing (Pvt.) Limited for the fourth consecutive year; the Silver award was won by Nobleswear (Pvt.) Limited and the Bronze award went to Miami Exports (Pvt.) Ltd.
The company also recognized the noteworthy contributions of the entire supplier base for managing to achieve sales targets whilst continuing to keep to the high standards and stringent focus on production quality. The longstanding relationships built by next Sourcing with the entire supplier base, with some partnerships over 20 years, underscored the level of trust the company has built over the years with the supplier base when sourcing the finest, most exclusive fabrics and garments from Sri Lanka.
The seminar also included a performance overview of ‘next’ sales with an updated indication on the current performance in line with the key performance indicators set by next PLC - UK. The event was attended by the management of next Sourcing together with the representatives from the supplier base. next Sourcing is engaged in design, sourcing, buying, merchandising and quality control of the next PLC product. The company also coordinates with a global network of offices to negotiate market prices, manages the supply chain and ensures on-time delivery on behalf of next PLC. The biannual factory evaluations allow the next Sourcing management to make the selections of the top three factories out of a relatively large factory base of 42 factories.
next Sourcing Associate Director Wilhelm Elias expressing his views stated, “The past 12-18 months have been tough on the industry as a whole. next owns and operates three factories in Sri Lanka and we are aware of how tough it has been on all of our suppliers and we appreciate the support extended to us during the most difficult of times. The effects of Brexit was felt globally due to the weakening of the British pound and as price pressure mounted and spending habits changed in Europe. The impact on the high street was felt across all retailers. We remain cautious but confident in the work we have done with design/product, which is reflected in our second quarter sales. The Sri Lankan office will plan double-digit growth in 2018 in light of GSP Plus.”
next Sourcing Technical Director Hugh Mcconnell addressing the gathering stated, “Through a complicated wash and embellished product, the Sri Lankan manufacturers are facing new challenges every season but have still managed to consistently ship stock that meets the customer’s standards and retained the ‘Best Region for Quality’ category in 2016 and 2017 year-to-date. Sri Lanka has now built a reputation for managing the most difficult products, which is a credit to the improved skill level of our suppliers and their continuous improvement.”
next Sourcing Senior Merchandise Manager Fiaz Ozeer stated, “With Sri Lanka gaining GSP Plus, we are seeing a significant sales growth from the third quarter of our current financial year. As always, service excellence is a key driver for this upward trend. We need to maintain high standards that we’ve set and look at continuous improvements in the future to meet the challenges of a competitive market.”
next Sourcing Sri Lanka produces next-branded children’s and women’s garments, as well as women’s lingerie and menswear. Over 20 years’ experience gives the company an edge over the global competition and an opportunity to create greater value for its stakeholders. Exclusive, coordinated collections of stylish, cost-effective garments are distributed through the next retail network, which consists of more than 500 stores in the UK alone and nearly 200 franchise stores in more than 40 countries. next Sourcing maintains 11 offices across 10 countries worldwide, including Leicester, London, Turkey, Egypt, Bangladesh, North India, South India, Thailand, Sri Lanka, Cambodia, Vietnam, Hong Kong and Shanghai.