Top 10 Essential Tips for Accurate Knit Garment Costing

Top 10 Essential Tips for Accurate Knit Garment Costing

Sanjeev Tiwari Sonu
Merchant at TCNS Ltd Noida
B-tech from U.P.T.U. University
Lucknow, UP, India.
Email: Sanjeevtiwari322@gamil.com

Garment Costing:

Garment costing plays playing very vital role in the garment industry. A key factor in the garment industry is that once a sample is selected by the buyer, they need a price for the garment from the supplier. They need a workable price from the supplier. Today, I would like to discuss knitting garment costing on behalf of my job experience in this sector. Learn how to master knit garment costing with these 10 essential tips. Improve your pricing strategy and boost your textile business profits.

Knit Garment Costing:

Knitting knowledge is have must for knit garment costing because in knitting, how the machine performs once knitting is started. We know that machine performance and speed depend on the garment knit structure. If the structure is complicated, then the machine will take more time to knit, and if the structure is flexible, then knitting time will be less.

When we start costing a knits garment, below basic things need tobe  included-

1. Garment net weight
2. Garment gross weight
3. Yarn price
4. Garment knitting time
5. CMT cost
6. Trims cost
7. Accessories cost
8. Freight
9. Overhead
10. Profit

1. Garment Net Weight:

Garment net weight is required for the actual weight of the garment. Here, other weights do not include the total weight such as yarn, thread, and accessories its weight.

2. Garment Gross Weight:

Garment gross weight is required for how much wastage have on this garment because, according to gross weight we place the yarn order. In gross weight, we multiply by yarn rate.

3. Yarn Price:

For placing the yarn order, we must have knowledge about the yarn price in the market because different yarns have different properties. According to the requirement of the buyer, we quoted the cost of yarns like cotton yarn, acrylic yarn, Fancy yarn, blended yarn, cotton melange yarn, cashmere yarn, acre wool yarn, etc. From time to time yarn rate is changed, so one must also have knowledge of the current rate of yarn in the market.

4. Garment Knitting Time:

Garment knitting time is also required in costing because, without knitting time, we can’t calculate the knitting rate of the garment. For knitting time, each and every part of the garment, like the front panel, back panel, sleeve, trims, placket, etc., has a time period to complete the knitting on the machine.

5. CMT Cost:

CMT is a must in costing; this is known as cut makes and trimming. Cutting charge, making the charge and trimming charge are included in this part of costing also labor cost. Under CMT cost embroidery, printing, washing, pressing each process of garment manufacturing is included in CMT cost.

6. Trim Cost:

Trim cost each and every buyer has their own trims and labels. As per the price of the label and trims we added, this is in the costing.

7. Accessories Cost:

Accessories cost is a very important part of the garment costing process. Without fabric, other parts of garments are known as accessories. Accessories like some extra work and embellishment on ga arment adds to accessories cost.

8. Freight:

Freight is related to the transportation cost of goods and samples. Once goods are ready then for dispathchment of good transporter charge will be applied.

9. Overhead:

Overhead is most required in costing because a staff member of office and another cost of an organization like electricity, water, rent, worker salary all miscellaneous charges will be applied under this.

10. Profit:

Finally, we apply profit because each and every organization needs profit. Entrepreneurship is not possible without profit. The organization is also a business for people. Each and every human being need growth in life also need to spread business all over the world so for better performance and spreading business profit is applied.

Conclusion:

Above all, things have common in costing for knit garment. We must apply all these things in costing in any knitted garment like knitted T-shirt, knitted trouser, Knitted shirt, knitted sweater, knitted jacket, knitted dress, knitted blazer etc. If a person has knowledge about above thing they always quoted a better costing.