Abstract:
The internship report "Raw Materials Sourcing Strategies of RMG Sector in Bangladesh: A Study on SM Knitwears Ltd." provides a complete overview of the various tasks and operations inside the SM Knitwears Ltd.'s Procurement Department. The internship intends to shed light on the department's vital role in assuring the effective sourcing of raw materials and supplies, which has an impact on the organization's overall performance. The paper begins with an overview of SM Knitwears Ltd., including information on its history, mission, and vision. It also briefly describes the Procurement Department's importance within the context of the organization. The report's main section digs into the Procurement Department's actions and duties. This comprises a thorough examination of the procurement process, beginning with supplier selection and appraisal and continuing with order placement and inventory management. The paper also covers the department's difficulties and prospects, such as the need to secure a steady supply of high-quality raw materials while controlling costs and adhering to ethical and sustainability norms. Throughout the report, numerous procurement methods and approaches such as vendor assessment, negotiation strategies, and procurement software are studied. Furthermore, the need of good internal and external communication and collaboration is emphasized as critical to the department's success. The report also analyzes the role of technology in modern procurement methods, emphasizing the advantages of digitalization and automation. It also discusses the department's role in maintaining legal and regulatory compliance. Finally, the internship at SM Knitwears Ltd. Procurement Department has given me excellent insight into the complexities and problems of procurement in a dynamic and competitive industry. The department's dedication to excellence, innovation, and sustainability is admirable, and its contribution to the organization's success should not be overlooked. This internship has highlighted the need of successful procurement strategies, as well as the need for ongoing improvement and adaptability in a constantly changing business environment.
