Magazine article Business Credit

Smart Textiles and Smart Strategies Are Key to Textile Industry Survival

Magazine article Business Credit

Smart Textiles and Smart Strategies Are Key to Textile Industry Survival

Article excerpt

Companies in the besieged U.S. textile industry can still survive and thrive, but only if they adapt smart, new strategies that make them a global player. Those that rely on quotas and protectionist legislation are doomed to failure.

This is according to a hard-hitting report issued by Anderson Bauman Tourtellot Vos & Company (ABTV), a turnaround management firm and an ALTMA Group, LLC company. The research, conducted from a wide variety of sources including recent interim management and consulting engagements by the firm, point to growth opportunities that can give U.S. companies the edge and set them apart from competitors.

"New performance-enhanced products represent the future of U.S. textiles," said Peter Tourte hot, Managing Director of ABTV. "Traditional textile products can still succeed with aggressive branding and better management of the supply chain."

His firm's recommendations:

* Outsource production to cut costs and keep prices competitive. Rising costs for raw materials, energy and human resources make it impossible for U.S. textile firms to compete in high-volume, price sensitive categories.

* Tighten supply chain logistics so that finished products can move quickly to customers rather than taking up expensive warehouse space. …

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