Coimbatore, Mar 28 (KNN) The business model should be drawn in such a way that a reasonable level of inflation can be accommodate, for, at the end of the day, the bottom of the pyramid should survive, Susindaran, Chief Executive Officer of Kay Ventures said during a panel discussion on the Indian textile industry’s competitiveness.

According to a media report, Susindaran said "Inefficiency in supply chain can be a killer. The industry will need to look at this more seriously."

Urging apparel manufacturers to look inward to wipe out inefficiencies in the system, he said "while FTAs (Free Trade Agreements) and other government-to-government negotiations are beyond the control of the industry, the sector should look at processes that are within its control and plug leakages."

He further said that since wages are going up and government cannot be asked to reduce wages, the business model should, therefore, be drawn in such a way that one can accommodate a reasonable level of inflation, for, at the end of the day, the bottom of the pyramid should survive.

“But in costing (of a product), there is some percentage of wastage, which will have to be plugged, and an international standard and benchmark set, to remain globally competitive. This would eventually help improve the bottom line by 4-5 per cent,” he said.

He asked the small garment units to get connected to Artificial Intelligence, machine learning and all production lines - connected to Internet of Things. (With inputs from media report)