Can we have Virtual Buying Houses?1
Acknowledgments
This dissertation could never be completed without the generously rich guidance of many
individuals. In one way or another, they have helped me through preparation and completion of
this research. I am highly indebted to my teacher Dr. Imtiaz Subhani for his great support and help
throughout this study. His supervision and continuous hard work to provide all the necessary help
and information was above par. I pay my thanks and appreciation to several other people, who
helped me according to their abilities, especially Muhammad Furqan, who helped me a lot to
understand and analyze the statistical aspects of the research. At the last, I would like to thank my
family for their unconditional support towards my studies.
Can we have Virtual Buying Houses?2
Abstract
This particular study has been accomplished with the aim to examine the utility of advance
Information and Communication Technology (ICT) in the textile Industry. For this purpose,
related articles have been reviewed and the supporting statements have been extracted.
Observations from the field have also been taken by using survey tool. Essential information has
been gathered who are associated with the Textile Industries. After having applying the test, it
has been found that Textile Industries must need a virtual buying house portal for operating its
operations effectively and efficiently. Major factors playing role in order to have a virtual buying
houses are Cost of the services of the brokers, Time lagging, use of mobile applications and web
browsers, bargaining power of the manufacturers and the buyers and to building up the Network
of exporters and importers.
Can we have Virtual Buying Houses?3
Table of Contents
S.NO.
Description
Page No.
1.
Acknowledgements………………………………………………
ii
2.
Abstract………………………………………………………………
iii
3.
List of Tables…………………………………………………………
iv
4.
Chapter 1: Introduction………………………………………….
1
1.1Overview……………………………………………………………….
1.2 Problem Statement……………………………………………………..
1.3Background, Objectives and Significance of the Research...…………..
1.4 Outline of the Study …………………………………………………...
1.5Definitions………… …………………………………………………...
5.
Chapter 2: Literature Review......................................................
7
6.
Chapter 3: Research Methods………………………………
30
3.1 Method of Data Collection ……………………………………………
3.2 Sampling Technique …………………………………………………..
3.3 Sample Size…………………………………………………………….
3.4 Research Model Developed……………………………………………
3.5 Statistical Technique…………………………………………………..
Can we have Virtual Buying Houses?4
7.
Chapter 4: Results............................................................................
34
4.1 Findings and Interpretation of the results..............................................
4.2 Hypothesis Assessment Summary……………………………………
8.
Chapter 5: Conclusion, Discussion, Implications and Future Research…
52
5.1Conclusion & discussion........................................................................
5.2 Implications..........................................................................................,,.
5.3 Future Research………………………………………………………..
9.
References……………………………………………………………
10.
Appendix………………………………………………………………..
55
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List of Tables
S. No.
Description
Page Number
1.
Hypothesis 1 Statistics
35
2.
Hypothesis 2 Statistics
36
3.
Hypothesis 3 Statistics
37
4.
Hypothesis 4 Statistics
38
5.
Hypothesis 5 Statistics
39
6.
Hypothesis 6 Statistics
40
7.
Hypothesis 7 Statistics
41
8.
Hypothesis 8 Statistics
42
9.
Hypothesis 9 Statistics
43
10
Hypothesis 10 Statistics
44
11.
Hypothesis 11 Statistics
45
12.
Hypothesis 12 Statistics
46
13.
Hypothesis 13 Statistics
47
14.
Hypothesis 14 Statistics
48
15.
Hypothesis 15 Statistics
49
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List of Figures
S. No.
1.
Description
Research Model Developed
Page Number
32
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Chapter 1: Introduction
1.1 Overview
The expression "Buying house" characterized as a 'the one who mediates the
purchasing and offering of products with the end goal of making a benefit.' In textile
industry there are distinctive sorts of duties which are intended to perform diverse sorts of
capacities all together at various phases of textile industry. Throughout the times of the
development of promoting as a train in the textile business, there have been many changes
in the profile of the buying house. It has charges from an easy to a substantially more
intricate occupation rising above all capacities in the industry.
The part of buying house is extremely pivotal and demanding in the textile industry. The
advancement of plan, generation execution and sourcing, pitching the product to client and
showing the product at retail shop, these are the elements of buying houses at various level
of industry. The aptitudes necessity of design promoting tuning with current patterns in
market, determining of forthcoming style patterns, specialized parameters like texture and
trim points of interest, piece of clothing quality, choosing the sourcing methodology,
correspondence and coordination alongside concern individuals in the business. Buying
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house takes plan or outline from manufacture and creates it such that it will be market
possible, generation practical, and takes care of client requests.
The part of buying house merchandiser is marginally not quite the same as creation
merchandiser. Buying house is an operator who works with the purchaser and
maker/exporter to satisfy the commitment of the fare order. Buying house merchandiser
straight forwardly deals with buyer. The capacity of any buying house is to build
connection to their abroad clients. The work done by buying house is relies on size of
buying house, volumes dealt with, administrations gave to purchaser. Prime reason for
merchandiser is to guarantee that conveyance of the request is on time. The part of buying
house can be depicted as
"Brokerage" is wide phrasing utilized as a part of industry. The part of the broker differs
from phases of the form business like manufacturer, buying house, retail and offers, visual
merchandiser. The work of broker progressively changes from firm to firm. In some firm
broker assumes wide part while in some firm part of merchandiser is exceptionally
specific. The work profile of merchandiser is additionally changing with the development
of clothing industry today it turns out to be more muddled than past.
Our fast growing textile industries are delivering clothing products with appropriate
quality however nearly in low cost. Thus new merchants are energetically come into the
market. Also, the vast majority of them are come through buying house, as they haven't
thought of putting request and execution. Along these lines, now a days buying houses
assuming an essential part in textile division. Buying houses straightforwardly contact
with the purchaser and affirm a request, and after that put in this request in a reasonable
Can we have Virtual Buying Houses?9
processing plant that is done this kind of request and have some notoriety on that sort of
articles of clothing generation. Accordingly remove amongst purchaser and producer is
diminished by buying house.
It expands time and cash for both manufacturing plant and purchaser. It removes the gap
amongst production line and purchaser. To execute these works buying house needs some
advance technology and skilled individual.
The genuine information can't be discovered any place as if they haven't any firm, how
much request is put by buying house on production lines. However, it is known to all that
the sum is enormous. Presently, a number of buying house is expanding quickly. What's
more, they are helping us by gathering request from bringing in and put them in our textile
enterprises. So it can be said that, buying houses are helping our economy by sourcing
requests and arrangement.
Each firm has its own working methodology. It's changes from firm to firm. Buying house
working method is given below,
Above all else advertising merchandiser contacts with a purchaser and gather a request by
demonstrating the samples they made before or specifically solicit which sort from articles
of clothing purchaser require.
Then he/she discover the reasonable industrial facility for that predetermined samples of
clothing. The production line must be reviewed by perceived firm.
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Does utilization and costing and dealing with industrial facility for cost for the particular
item. Conclude cost and send it to purchaser.
Then improvement merchandiser builds up the item send first example for any revision.
Usually purchaser makes some adjustment on first example, so second example is
submitted by first example remarks.
Then fit example is made and QC check is it takes after the endorsed second example.
Then the Red seal test is sent for endorsement which is otherwise called purchasing test.
Furthermore, if the red seal test endorsed then the request is affirmed.
After doing ex-manufacturing plant indicating pressing rundown and some business
exercises buying house get their bonus.
There are tremendous tasks are executed by a buying house which begins with meeting
with purchaser and closures with gathering commission from purchaser.
This whole procedure of duties performed by buying house can be more efficient,
effective and cost saving if it equips with advance technologies.
The technology transformation is upon us. Individuals are moving quickly from common
mobile phones to mobile phone applications.
The effect of the mobile applications and online platforms usage is felt in all aspects of the
global market and the improved education division does not remain saved. Propelled
instruction foundations in different regions have ended up being more aware of customer
Can we have Virtual Buying Houses?11
enthusiasm for flexible get to and are starting to respond to it. They are the best way to
stimulate the demand of the product among the clients.
1.2 Problem Statement
The intention of this study is to examine that whether we can have an online buying
house platform for textile industries to minimize the cost and profit maximizing or not.
1.3 Background, Objectives and Significance of the Study
The fundamental reason behind this review is to survey the significance of Online
buyinghouse platform. At present textile industries are associated with a very typical
broker or agent services. Garment industry is the major revenue generating sector of
Pakistan, efficient and effective performance can result in a growing GDP rate and a
prosperous economic progress i.e. higher the efficiency of textile industry, higher the GDP
rate and employment opportunities. Therefore, a research is required to examine so that
can be sort out that with what degree the performance of online buying house can be
improved.
1.4 Outline of the study
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This document is organized in the following way: Chapter 2 comprises of
Literature Review. It reflects the opinions and research work of other authors and about
the related study. Chapter 3 contains research methodologies used to conduct this study.
Chapter 4 presents the outcomes and the description of the subject. Chapter 5 confers the
conclusion and future research recommendations.
1.5 Hypothesis(es)
H1:Textile Industry must have a virtual portal of brokers for better performance.
H2:Launching mobile application is the best source to build up the Network.
H3:B2B brokers should use online trading facility to attain efficiency.
H4:Virtual buying houses can reduce time lagging.
H5: Online markets can save cost of services of Brokers.
H6: Virtual buying houses can add more value to the brokerage services.
H7: Introduction of online brokers will lead towards expansion of the Industry.
H8: Applications and Web browsers are the fastest mode of trading.
H9: Delaying of order processing is because of the communication gap among the
parties.
H10: Textile Industry is in dire need of Information Communications Technology (ICT).
H11: Virtual Buying houses will increase the competition to a great extent.
H12: Online trading can reduce bargaining power of the buyers and sellers which is
beneficial for the Brokers.
H13:Online Trading is subjected to less secure dealings.
H14: Virtual buying houses are the most popular and convenient mode of Trade.
H15: Virtual Buying houses are preferred over traditional Brokerage.
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Chapter 2: Literature Review
This Topic has a great significance in the field of Textile Industry. As the smart
use of technology can lead us to the globalization and will definitely open more
opportunities to the industry.
Vinelli, (1997) is assessed that QR technique and the role played by data innovation and
telematics summarized that QR is a period based procedure which requires more noteworthy
coordinated effort along the entire material clothing chain, from the yarn producer, the
texture maker, the article of clothing maker through to the merchant. Thus, the decisions and
conduct of the controlling organizations inside the anchor appear to be principal.
The selection of data advances and media communications brings points of interest, for
example, the diminishment of archive exchange times amongst organizations, and an
expansion in unwavering quality, accuracy and sureness in information exchange, and the
disposal of report addition time in organization data frameworks. The innovative and
hierarchical effect which this produces is tremendous, and if the appropriation procedure is
to be fruitful it needs to overcome the "grating" intrinsic to each procedure of progress. The
Can we have Virtual Buying Houses?14
many-sided quality of the procedure of progress is additionally high due to the important
acknowledgment of a progression of conditions, requirements and limitations, both inside
and without the organization. A representation of this can be found in the event that one
considers the variety and assorted qualities of the on-screen characters included – in their
points, agent strategies, relations with the last clients, and parts inside the chain – and the
perplexing "culture" of the material apparel segment, as far as the assortment of items
offered, obtaining methodology, and the desires and propensities for the clients.
Consequently, one point of organization arranging must be to locate another framework
which adjusts its exercises and its conventional method for playing out these exercises. This
is conceivable, as has been appeared through the cases introduced here, however difficult,
since the hindrances to overcome with a specific end goal to accomplish intensity through
fast reaction are various.
Razzouk& Seitz, (2008) is evaluated that the motivation behind the review was to evaluate
the demeanors of electronic material market individuals toward material e-showcases and to
recognize their key achievement elements. The exploration demonstrated that the majority
of the organizations took an interest in more than one-showcase. Given that there are several
e-advertises on the web, what number of them are fruitful in satisfying individuals' needs?
As demonstrated by the exploration, just 52 percent of respondents addressed that they had a
positive involvement with e-markets, recommending that there was opportunity to get
better.
Today, a ton of the e-markets are controlled by site outlining organizations or some "mother
and-pop" shops which may not have any business information. However, they are pulled in
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by the simplicity of building a site. What these organizations neglect to comprehend is that
building an e-commercial center is more than a site. That is the reason, most e-markets
fizzle a couple of years after they have "opened."While the mechanical transformation
assumed control 100 years to play out, e-markets are in the early phases of their
advancement. Many exist just on paper or in pilot frame with a significant part of the
innovation to actualize more noteworthy usefulness not yet created. Throughout the
following couple of years, a lot of learning will happen about how precisely the guarantees
of e-market usefulness will be satisfied. The open design of the web takes into consideration
institutionalized arrangements that can be utilized by many firms as purchasers or dealers.
This is conceivable by the development of new delegates – electronic commercial centers –
that organization the substance to make it open by all gatherings.
Fang, To2, Zhang3 & Chang, (2014) is analyzed the both hypothetical and mechanical
fields. From the hypothetical point of view, they looked into the original speculations of
ICTs reception and clarified how ICTs appropriation can impact material virtual joint
effort. With the improvement of present day correspondence advancements, the
prerequisites for ICTs continue changing and refreshing. From the pragmatic point of
view, we led inside and out meetings and investigated the relevant prerequisites forICTs in
material virtual group joint effort. Such anattempt is missing from the surviving writing.
Ideally, used ICTs can encourage virtual joint effort in today' worldwide business
condition. In view of the experimental examination, we suggested that to encourage
viability for material virtual groups, ICTs ought to (1) have an easy to understand
interface, (2) pass on social and nonverbal signs, (3) arrange intrusion, (4) permit
Can we have Virtual Buying Houses?16
advancement of intra-group connectedness, and (5) permit conjunction of ICTs with
various levels of synchronicity, media wealth and independence in quick changing
relevant conditions. They set forth a structure of fitting ICTs reception and determination
in material virtual joint effort and correspondence. They proposed six basic qualities in
picking innovations to manage the informative difficulties emerging from land separation.
Facilitate, contended that the differing qualities of ICTs ought to conform to the ecological
settings when utilizing ICTs. We broke down how this innovation setting fit can be
accomplished, utilizing cases of normally utilized ICTs. The down to earth ramifications
of this work is that we create rules for mechanical professionals on embracing assorted
ICTs amid virtual coordinated effort and remote association. Along these lines, the
surviving progressed ICTs can be conveyed all the more suitably and relevantly to
upgrade virtual advancement administration in the material business.
Mr. V.Viswaprakash and Dr. K.Sentamilselvan, (2014) is evaluated Globalization as the
development of financial action or spreading over politically of national and territorial
limits. It implies the expanded development over those limits of products and ventures,
through exchange and speculation, and frequently of individuals, by means of migration. It
is driven by the activities of individual financial performers, for example, firms, banks,
individuals typically in the quest for benefit, and regularly prodded by the weights of
rivalry. The WTO has assumed a vital part in the development and improvement of the
materials business at worldwide level. The advancement and advance in free economy
because of globalization, with focused condition abandoned nations path in the quality and
intensity of its products and enterprises. Control on generation, authorizing confinements
Can we have Virtual Buying Houses?17
alongside high defensive dividers had cultivated monopolistic patterns inside material
enterprises, made it import concentrated and internal looking. For liberals, globalization
advances the vanishing of exchange boundaries and state control. This paper manages
effect of Globalization on Trade in Textile Industry. It traces the patterns in Trade in
Textile industry, apparel exchange and issues confronting materials. This paper finishes up
with some strategy measures to conquer the negative effect of exchange material industry.
It could be seen plainly from the above discourse that the WTO was framed to Foster and
Facilitate world exchange with the expulsion of tax and non-tax boundaries and to quicken
the procedure of globalization. In this association the accompanying arrangement measures
can be considered. Material industry is bit by bit coordinating into local and worldwide
systems of generation. Its future apparently depends on this double procedure of excusing
and rebuilding creation from one viewpoint, and forcefully creating trade advertises on the
other.
ForzaandVinelli, (2000) are analyzed the worldly arrangements of the exercises and
choices of the material attire fasten and to speak to the prospects for development
activities throughout the different creation and appropriation chain stages, regardless of
whether in term of advancements or of association and administration. Their exploration
concentrates on the strategies, procedures and methodologies that could be embraced all
through the whole bind keeping in mind the end goal to acquire an arrangement of
cognizant upgrades to accomplish speedy reaction. The major change stages are thought to
be: lessening of lead times in providing texture: diminishment of lead times in creating a
piece of clothing: and imaginative associations with the merchants. The basic and
Can we have Virtual Buying Houses?18
infrastructural changes required for q fast reaction as likewise dissected, and the need of
methodical perspective of the chain is highlighted.
They concentrated that it manages the issue of time pressure in the material clothing chain.
Utilizing the creation arrange diagram display some full scale regions in the chain where
intercession has occurred was distinguished. The diminishment of material supply lead
time is the most basic intercession, since, in their turn it requires mediation in coloring
process, the situating of distribution centers, the trading of data in decreases in the
assortment of segments. The foundation of inventive connections amongst makers and
merchants is maybe, the most complex mediation, since it infers change in relations
between the different performing artists in the chain and fundamentally takes any longer to
accomplish. This change which is turning into a basic in what is a perpetually demanding
business sector and notwithstanding ever fiercer rivalry, is gained conceivable today by
mechanical ground, yet can't be affected without a social jump that has more extensive
ramifications.
Tarn, Razi, Wen,andJr, (2003) are analyzed An e-satisfaction framework is expected to
meet the high demand volume and stringent customer advantage necessities of overall
business-to-customer online business. The framework changes over the conventional
stockroom into a multi-channel e-satisfaction focus. In the online business condition, a bit
of the hardest decisions must be made on for all intents and purposes no hard information.
In this survey, the nature of e-business and the consistent fulfillment process are
discussed. The makers moreover investigate the technique and operational necessities for
e-fulfillment. This article is done up with the consequences of a productive e-fulfillment
Can we have Virtual Buying Houses?19
system, a prescribed arrangement of an e-fulfillment center, and the future research
focuses.
To prevail in today's unique, quick pace condition, the firm needs a framework that not
just deals with its whole appropriation and co-ordinations prepare additionally is
sufficiently spry to quickly react to customized client necessities. It likewise needs a
framework that can make-to-request and satisfy orders from both provider oversaw and
put away stock. At the end of the day, it is required to have a framework that
acknowledges returns, as well as oversees mien. Essentially, e-fulfillment is more than
basically "pick, pack and ship". In the new economy, fulfillment is about customer craving
and satisfaction – a technique that begins with enduring customer demand and completes
with each customer getting absolutely what they need, when and where they need it. In
this manner, understanding request nature and sort of things requested is the way to plan a
successful e-satisfaction focus.
Mafe& Blas, (2006) are recognized four hidden variables to Internet reliance, which allude
to the utilization of the medium for excitement and unwinding, discovering advisers for
conduct and comprehension, discovering data to take choices lastly, discovering data to
stay up with the latest and impart. As to responsibility made by this investigation,
immediately it has engaged us to portray the profile of Internet ward customers as the
young Internet customer, with a high informational level and who feels proclivity with the
medium. Web subordinate clients begin going on the web at a prior age and more every
now and again than non-subordinate Internet clients. A possible elucidation is that
customer needs and interests change with age, with more energetic individuals being ideal
Can we have Virtual Buying Houses?20
to Internet. Likewise, nonappearance of acknowledgment with the medium, keeps make
clients from looking over the advantages of Internet and suggests that they tend to lean
toward other information hotspots for their purchases, for instance, the TV, press or social
participation with sidekicks and relations. These results are also similar to those from past
surveys on the profile of the pioneer which find that the level of preparing decidedly
impacts perspectives towards progressions, for example, Internet.
The outcomes additionally propose that people who have used Internet the longest are
needier than the people who are less familiar with the medium.In this way, more
prominent online experience prompts improved relations with the medium, as the
individual is more familiar with it and qualities its focal points more. Medium reliance
turns out to be more extreme the more it enables the person to acquire his targets. This
examination enables associations to know the unmistakable objectives which Internet can
help a man to achieve and, accordingly, what points to highlight in their correspondence
frameworks. At last, our examination has made it conceivable to demonstrate the effect of
Internet reliance on the eagerness to buy on the web, with the most pertinent calculate this
perspective being that of hunting down data to take choices. Along these lines, to expand
Internet clients' ability to buy, organizations ought to give greatest data on their items as
well as administrations and elevate look frameworks to give quick, simple access to such
data. The consequences of the review energize advance inside and out investigation of
individual-broad communications relations. Thus, this examination enables associations to
know the unmistakable objectives which Internet can help a man to achieve and,
accordingly, what points to highlight in their correspondence frameworks.
Can we have Virtual Buying Houses?21
Lu & Julian , (2007) are analyzed the experimental connection in fare advertise endeavors
of the connection between the web (when it is utilized for correspondence, organizing,
statistical surveying, deals, picture improvement, cost lessening and upper hand purposes)
and fare showcasing execution. The review was established on the preface that the web as
a business device has encountered astounding development as of late and while past
research had endeavored to decide the connection between web use and fare showcasing
execution past research discoveries had been uncertain and those reviews were currently
very dated requiring further examination. All things considered, a strong exact
investigation into the impact of the web on fare showcasing execution when utilized for
the reasons for correspondence, organizing, statistical surveying, deals, picture
improvement, cost lessening and upper hand was required.
At long last, in connection to the worldwide experience of the firm, trade promoting
execution is upgraded by the global experience of the firm. Administration's global
experience, fitness and duty to the wander make a constructive commitment to fare
promoting execution, in this manner, firms have much to pick up in the event that they
contract or prepare qualified work force, amass universal involvement in an automatic
way, and allot adequate assets to completely benefit from fare showcase openings. The
present review has developed the writing on the connection between the web and fare
advertising execution in a few territories inside the particular Australian setting. To begin
with, legitimate and dependable scales have been re-approved to inspect the web's
utilization in fare showcasing in connection to correspondence, organizing, statistical
surveying, deals, picture improvement, cost lessening and upper hand. Second, the builds
Can we have Virtual Buying Houses?22
created here can fill in as an establishment for further research into the web and fare
showcasing execution. Third, the review has added to a more far reaching comprehension
of the achievement calculates send out promoting and the part the web plays. Fourth,
confirm has been given that the web when it is utilized for cost decrease purposes will
positively affect trade showcasing execution. Fifth, the web ought to be utilized as an
aggressive weapon since when it will be it positively affects send out showcasing
execution. At long last, additional confirmation has been given on the hugeness of the
worldwide experience of the firm and its positive association with fare promoting
execution.
Rangone&Renga, (2006) are exhibited exploratory review to examine the effect of B2e
MI applications and, specifically, an experimental examination of the principle elements
of Italian B2e MI applications for mechanizing deals and field-constrain exercises. They
contemplated development of the web and the remote broadcast communications world,
bringing about the authoring of the expression "portable web" (MI), which is additionally
utilized here. The joining of these two universes has displayed an extensive variety of new
open doors that can enhance organizations' present business and grow new regions.
Versatile information applications are assuming a noteworthy part in new portable
administrations in the business. The investigation uncovers that, at present, there are just a
couple of, exceptionally basic B2e MI applications, however the segment is growing
rapidly. Taking a gander at the contextual investigations dissected, the applications at
present used by Italian organizations are:
Can we have Virtual Buying Houses?23
• "simple" both in innovative terms (little coordination with the current data frameworks)
and at a hierarchical level (few changes in methodology and exercises);
•
pull in constrained speculation assets, however get great outcomes; and
•
are now and again used to bolster mobile exercises (operational versatility), however
not the mobile transmission of information (transmission portability).
A few signs for administration with respect to B2e versatile applications are the need to
create basic applications; and begin preparing the business drive, since this gives quicker
pay-back and the most straightforward usage. Later on, it could be conceivable that more
prominent advantages from B2e MI applications will be gotten from more mind boggling
applications that adventure "transmission versatility" and cause critical changes in
organization procedures and association.
Damanpour (2001) is analyzed the significance and exercises of E-business, and its
encouraging in current period. Plainly organizations without E-business techniques do not
have the stature required in contrast with those that appreciated the Internet Investment
framework. This audit reveals five key concentrations concerning the utilization of
Internet and E-business technique.In the first place, E-business is no longer a choice; it is
an essential segment for any business accomplishment later on. Creating nations need cash
and learning of innovation to be member in this worldwide wonder.
Chang & Li, (2003) are proposed that e-business is progressive as in it reevaluates new
standards of rivalry. E-business accentuates data innovation, scholarly properties, client
matchless quality, agreeable rivalry, inventive change, profitability development, and long
Can we have Virtual Buying Houses?24
haul monetary blast. Likewise, the case confirmation of Haier suggests a few lessons for
different organizations. In the first place, it is an undeniable prerequisite for inheritance
firms to plunge into e-business. Second, it is essential for inheritance firms to cooperate
with IT firms (i.e., the square and-snap illustrate). Third, e-business is an intense approach
for an association to globalize its business. Fourth, the most essential segment of ebusiness is its stand-out farthest point regarding business customization. Fifth, another
essential segment of e-business is that the sharing of open information along supply chains
relies on upon regular trust. sixth, e-business must be founded on a solid preface of sound
business practices instead of on building a fortress in the sand.
The logical examination of Haier moreover suggests that multinational associations focus
on focus competency and net income while looking for after their e-business strategies. In
a promising business division with various entry hindrances, both equal collaborations and
centered joint endeavors between neighborhood firms and outside multinationals are
essential to powerful market advancement. Remembering the true objective to strengthen
their forceful position in China, such unions and joint endeavors are crucial for close-by
and remote multinationals to develop their e-business frameworks with key target, push,
position and mode. Plainly further research, both hypothetical and observational, is
required to move our perception of e-business technique plan of multinational
associations.
Liang, Huang &Yeh, (2007) are broke down the reception of portable innovation in
business and its determinants. An indicative apparatus for appropriate selection of portable
innovation is created. The aftereffects of study give a few hypothetical and useful
Can we have Virtual Buying Houses?25
commitments. To begin with and maybe the most huge ramifications, is that supervisors
need to consider both TTF and hierarchical reasonability while considering the
appropriation of portable innovation. Most past writing concentrated either on the fit angle
or hierarchical components, which are fragmented by any methods. Besides, we have
effectively approved the fit-reasonability system and demonstrate its pertinence by and by.
This ought to give valuable rules to specialists.
Another ramifications of the examination is that supervisors ought to take diverse
methodologies when they confront framework applications in various cell. For those in the
great target classification, they ought to abandon faltering. For those in the rebuilding
class, activities to reinforce authoritative support are fundamental for their prosperity. For
those in the option innovation and overlook it classifications, an intensive and broad
assessment before appropriation is unequivocally recommended. In spite of its
hypothetical and down to earth commitments, this paper has a few confinements. To start
with, it is exploratory in nature and needs additionally ponders for affirmation of the
discoveries. Second, it is hazy to what degree the fit-practicality system can be summed
up to other innovation and issues. Its hypothetical generalizability should be all the more
painstakingly saw in future reviews. At long last, we don't know whether the way of an
industry or some other components may assume a few parts in the model. In spite of the
fact that, we have expected to incorporate ecological and value-based vulnerability in our
model as a major aspect of the exchange cost components, yet there might be more things
that should be analyzed when we assess the exchange cost and effect on process redesigning. They will depend on future research to investigate.
Can we have Virtual Buying Houses?26
Wong (2012) is inspected that both portable and PC stages have their clients. In this way,
the creators trust that it merits conferring ourselves to the arrangement of portable
recordings, on top of the current web administrations. it is an undeniable prerequisite for
heritage firms to plunge into e-business. Second, it is fundamental for heritage firms to
cooperate with IT firms (i.e., the square and-snap illustrate). Third, e-business is an
effective approach for an association to globalize its business. Fourth, the most essential
segment of e-business is its exceptional farthest point regarding business customization.
Fifth, another essential segment of e-business is that the sharing of open information along
supply chains relies on upon regular trust. sixth, e-business must be founded on a solid
start of sound business practices instead of on building a fortress in the sand.
The whole compact wander will happen in a couple arranges more than one to two years.
The underlying stride will consolidate taking care of and offering access to development
films and music presentations to attract the enormous social affair of potential worldwide
customers. By doing this, we could in like manner publicize our school to abroad
gatherings of spectators. They concentrate on the iOS organize at this moment. The
makers don't know whether his death will bring any noteworthy impacts on Apple Inc.We
will keep a watch out way to deal with all stages. The most troublesome piece of the
application creation is to create viable techniques for keeping up the presence of the
application in App Store. Investigation of a few methodologies that will be tried for
viability proceeds. Confirmation and patterns uncover an expanding utilization of portable
web, versatile applications, and versatile recordings. A few scientists even evaluated that
Can we have Virtual Buying Houses?27
portable access to arranged data will outperform desktop web get to. As one of the major
and expert data specialist co-ops, scholarly libraries ought to be completely mindful of the
pattern and react to it admirably. The creators trust the consequence of this contextual
analysis can be useful to different libraries that are as yet battling with or arranging
versatile administrations or accumulations.
Magrath&Magrath, (2013) are concentrated that online business outline writing can be
connected to the planning of versatile trade channels. A specialist should essentially
comprehend the wealth of advertising apparatuses that can be incorporated into a portable
procedure before they can start to examine the purchaser impacts. This article
distinguishes the item and administrations m-showcasing outline components that retailers
and advertisers can use with a specific end goal to advance and offer their items by means
of versatile. The examination system adds to both scholarly and administrative research in
the portable and online field and makes incomprehensible open doors for further exact
research into the impacts of the individual outline boosts. Portable applications could soon
turn into a retailer's most essential deals channels, defending the prerequisite for prompt
examination of the purchaser's recognitions. Professionals and scholastics are welcome to
use the all encompassing structure to frame their own particular reviews in regards to mbusiness outline. Experimental scholarly learning of the customer's behavioral and
passionate reactions towards portable application configuration would encourage creators
with fundamental outline data. Such learning would exhort and manage mold retailers as
to which outline components may increment and energize specific purchaser feelings and
practices, particularly those that will profit their business.
Can we have Virtual Buying Houses?28
Balboni, Berman &Korsten, (2015) are examined that every Individual Enterprise will be
exceedingly altered. In the period of inescapable portability and progressed investigation,
no two associations will be precisely indistinguishable. However a portion of the means
expected to accomplish the Individual Enterprise vision are normal crosswise over
associations and ventures. A five-stage movement progresses associations toward turning
into an Individual Enterprise:
1. Portray worker/client encounters through individual excursion maps. Create day-in-thelife storylines in view of a profound comprehension of client needs, then share demos,
layouts and practical data to educate the advancement of app(s).
2. Pilot test applications, and evaluate expenses and advantages. Distinguish conceivable
portable applications adjusted to authoritative needs, then run pilot exercises that give
hands-on involvement and take into account execution assessment.
3. Construct abilities to understand the Individual Enterprise. Express the general
procedure and build up a specialized change guide. Deal with the endeavor programming
and application programming interface (API) list and advancement condition.
4. Exploit existing applications and arrangements. Recognize chances to utilize existing
outsider arrangements and applications to empower speedier time-to-market and diminish
advancement costs. Expand after existing applications utilizing standard engineer units.
Simultaneously, build up an application commercial center and sourcing procedure.
Can we have Virtual Buying Houses?29
5. Advance the esteem and size of advantages. Association pioneers ought to convey the
need to incorporate versatility as the essential method of communication inside the
undertaking and among accomplices in their biological community. Setting up better
approaches for working and adjusting hierarchical strategies and administration with the
new portable reality will be crucial. As the versatility technique keeps on advancing,
execution parameters and achievement criteria should be characterized and money saving
advantage examinations performed.
The conjunction of two advances, portable and investigation will change the way business
completes, putting constant logical data readily available and giving prescient suggestions
and bits of knowledge to enhance basic leadership at the time. They will give individuals
access to cooperation openings when and where they require them and enhance
hierarchical aptitude. Singular workers will be better ready to use the information of the
whole endeavor, make more productive utilization of time and resources and drive better
outcomes speedier. By making an Individual Enterprise, associations will have the
capacity to find, characterize and refine new and developing client needs and needs, and
make genuinely novel, energizing client encounters.
Abrar, Deng, Safeer, Ghafoor and Baig, (2016) are concentrated that the Textile division
assumes critical part in the financial system of Pakistan. It contributes as outside
settlements receipts for material items fares to universal markets. At present worldwide
condition, the Pakistan material area is not completely relating the most recent advertising
apparatuses to build fares and piece of the overall industry in the universal markets. In this
paper, we exhibited the E-advertising improvement demonstrate which clarified the entire
Can we have Virtual Buying Houses?30
procedure of e-promoting application like ecological checking, audit showcasing
objectives, and with considering every one of the 4 Ps to settle on successful choices for
the material associations. This model completely manages the organizations for
compelling basic leadership with respect to the use of e-promoting in the material area of
Pakistan. This present work endeavors utilization of e-advertising in the material part of
Pakistan and how this e-innovation can reward to advance the material business of
Pakistan in the nearby and outside business sectors. This paper additionally controls the
chiefs to execute e-showcasing model in the associations for all intents and purposes for
successful basic leadership.
They separated about the material esteem chain process and guide about utilization of epromoting in the material area of Pakistan. E-Marketing model assists the organizations to
lead intensive examination, with reviewing the e-promoting objectives with considering
showcasing blend for viable basic leadership. Inner and outside condition examinations
are critical to know influencing variables on basic leadership of the organizations.
Intensive investigation gives the key bearing to the organization for anticipating up and
coming patterns in business condition. Assets are especially imperative to accomplish the
organization objectives. Right basic leadership for asset distributions give the upper hand
to the organization, comparably client input is especially vital to enhance the creation
procedures to get the new clients and in addition hold the current clients.
E-showcasing is best model with financially bring down cost achieve clients in nearby
and global markets for at last accomplishing the organization goals. The Pakistani
material regard chain is particularly mind boggling strategies industry and the level of e-
Can we have Virtual Buying Houses?31
promoting is assorted in each sub some portion of the material fragment in Pakistan. The
material division is crucial wellspring of outside exchange salary in the economy of
Pakistan. This part primarily made out of little and medium endeavors and there are
couple of extensive associations. The capability of e-promoting is not being used in the
material division of Pakistan. In this area, for the most part e-advertising exercises are
helped out through email, sites, and e-commercial centers.
Fong1 & Wong2, (2015) are dissected that distinguishes and investigates are key
determinants of the conduct aim of portable trade benefit to the clients. Study
demonstrated that the four key components impacting clients' expectation to utilize a
portable trade administration are: the state of mind of clients toward the versatile business
benefit, the clients' apparent subjective standard, or the force of social and associate
gathering weight to utilize a versatile business benefit; the apparent convenience of the
versatile trade benefit, and the limitation of the versatile business benefit. This review
adds to the assemblage of information in the fields of administration advertising,
innovation reception, and client relationship administration.
Advancing versatile trade administrations is costly, thus to remain focused it is pivotal for
advertisers of portable business benefit organizations to advance their administration in
the most practical approach to make the best utilization of their limited time spending
plan. To accomplish ideal outcomes, it is imperative for advertisers and administration to
comprehend the relative significance of different key components that may influence the
conduct expectation of cell phone clients. Better comprehension of the cell phone clients
Can we have Virtual Buying Houses?32
enables the officeholders to guide their assets to convey what clients esteem most. This,
thus, will guarantee the occupants to use the most from their venture.
Lee &Lin , (2005) are build up an examination model to review the relationship among eadvantage quality estimations and general organization quality, buyer dependability and
purchase objectives. The audit makes duties in two central extents. To begin with, this
survey developed the instrument estimations of e-organization quality by changing the
SERVQUAL model to consider online shopping setting. Second, this audit perceived eadvantage quality estimations that impact general organization quality and shopper
devotion, which subsequently are on a very basic level related to customer purchase
objectives.
They prescribe that to redesign customer purchase points, online stores should make
elevating approachs to better address the trustworthy, steadfast quality, and responsiveness
of electronic organizations. Online stores can submit gainful corporate advantages for the
fundamental e-advantage quality attributes perceived by this survey. For example, change
of the level of acceptability, security, and incite organizations is requirement for both
pulling in and hanging on the web customers, since these components by and large impact
purchaser dedication and purchase desires. Second, web engineering can't be ignored.
Web engineering is a basic expects to give customer esteem and accommodation in the
midst of online trade frames. It in like manner relates to personalization and online
customer insurance. As web headways end up being continuously refined and destinations
can pass on more centered around substance, enthusiasm for personalization continues
Can we have Virtual Buying Houses?33
creating. On the other hand, contemplates have shown that various online customers are
outstandingly stressed over threats to their own insurance. Online stores along these lines
ought to endeavor to ensure that customers get huge information while in the meantime
securing their insurance, since personalization should not interfere. Furthermore, online
stores should accurately consider how much viably outfitting people with individual
organizations is principal given obliged human and material resources.
Islam1, Islam2 & Mazumder3, (2010) are concentrated the utilizations and impact of
portable devices in people, business and social region. In present day information and
email age flexible application is a champion among the most concerned and rapidly
making ranges. This paper demonstrates that how solitary convenient customer energize
using flexible application and the universality of the versatile application. Here we are
displaying the aftereffect of convenient application in business zone. Assorted authentic
data of the over a wide traverse of time condition of flexible application from different
parts of the world has been displayed here to express the impact. This paper furthermore
presents some effect of compact application on society from the ethical perspective. After
all the obstruction of compact condition and adaptable application, the uses and
predominance of convenient application are growing well ordered. Most of the overall
public are endeavoring to use PDA and flexible application instead of desktop for basic
undertaking. Well ordered the businesses of flexible applications are growing contrasting
with the use of desktop applications. Most of the flexible made associations and compact
application Developer associations are extending the breaking point, quality and value. So
Can we have Virtual Buying Houses?34
the bleeding edge compact applications are more talented and more usable for the
customer. Moreover, the overall impacts of compact applications are going high.
They have attempted to clarify that such a large number of things about versatile
application and business with a few information from current market. Furthermore, we
think this paper will help to other for further review in the portable application territory.
Kim, Lee & Park (2016), they are concentrated that the utilization of a client driven
administration maps to encourage the visual investigation and observing of client setting
data for proactive market examination. They dissected that it is a viable learning and
specialized instrument to help proactive market introduction, conquering the absence of
studies on considerable devices to acknowledge proactive market introduction. The center
component for proactive market introduction contrasted with responsive client
introduction is the setting of utilization. The client driven administration guide can
mastermind the information from the client driven methodologies and help the analyzer
get more keen data in a setting based market investigation. Two modules of market
examination in view of the administration guide can give down to earth suggestions to
administration firms to methodology improvement as per the setting they wish to explore.
On account of market-section investigation, for new business purposes, advertise
fragments can be assessed in light of their adjustments in the dynamic guide, i.e. which
client needs sections are rising in a particular period or keep on dominating over longer
periods, to be chosen as another objective portion. On alternate hands, for existing
business in the market, showcase sections that utilization association's administration can
be distinguished by static maps and their progressions followed after some time by
Can we have Virtual Buying Houses?35
element maps. Investigating why a few needs are new and some are predominant, or
foreseeing future needs in light of patterns, can offer experts more noteworthy knowledge
into their administration clients and their needs.
In client esteem examination, the relevant esteem picked up from the correlation amongst
very and humble appraised valuations can help firms give unrivaled client values by
means of the foundation of separation or customization methodologies. On the off chance
that the firm needs to give separated administration, an administration guide can be
created to look at how to give profoundly esteemed elements as indicated by the objective
client gatherings to expand the fulfillment. In the event that the firm expects to give
tweaked benefit, an administration outline particular client bunches in brief periods can be
developed to examine which work clients favor and esteem generally exceedingly.
Advertise introduction addresses association wide concerns and authoritative culture
through the coordination and joining of the company's assets, human and other,
coordinated toward the production of prevalent client esteem. Appropriately, it is not
restricted to the promoting division in association. Mark chiefs, advertisers, engineers,
R&D pros, benefit planners, client driven approach experts, and different experts
confronting difficulties to acknowledge proactive market introduction can use client
driven administration delineate. Besides, the correspondence between them will be
encouraged through the administration outline, it is a common visual portrayal.
Additionally, when there is extreme clash amongst architects and advertisers, client driven
administration guide can help association wide proactive market introduction and multidisciplinary approach by working as an interface for correspondence and arrangement.
Can we have Virtual Buying Houses?36
Chapter 3: Research Method
3.1 Method of Data Collection
For conducting the survey on the need of virtual buying houses in the textile
industry, we made questionnaire consists of two parts one is demographic and second part
have questions related to the study. We consider the sample size, randomly selected
employees of different textile firms, conjoint cross questioning method and collected
primary data to carry out the research.
Primary data has been collected by using survey method to evaluate the importance of
virtual buying house in the performance of textile industry. Survey tool has been designed
by considering the important factors and their contribution to the industry.
This review entitled "Can we have virtual buying house?” a key purpose behind doing
subjective research is to examine the need and contribution of information and
communication technology in this particular field. Qualitative research method is used to
collect the information regarding the current market’s uncertainty and the views of the
employees who are associated particularly to this domain.
To assess the operations of virtual portal and the impact of mobile applications and web
browsers in the efficiency of the buying house performance multiple research articles have
Can we have Virtual Buying Houses?37
been reviewed too. Multiple factors are identified in the research. Cost saving, Time
lagging, building up the huge network, communication gap, bargaining power of the
buyers and sellers and Information Communication Technology are the important factors
which lead to the dire need of the virtual buying houses.
This review is quantitative on the grounds that we can evaluate the quantity of tests. We
depend on quantitative research for the most part. It is a considerably measureable and
convenient to do and with quantitative research strategy we can settle on choice off the
information since we know we have a representative sample. With quantitative reviews,
every respondent is made a request to respond to the similar question.
3.2 Sampling Technique
As this study is primary research therefore survey tool i.e questionnaire has been
used. Research topic is related to information and communication technology of the textile
industry that is why random sample from the related industry has been chosen. 5-point
Likert scale questionnaire has been developed as a survey tool for the research.
3.3 Sample Size
Total sample size for this research is 280. Members associated with the textile industry
with have corresponded through the survey tool.
Can we have Virtual Buying Houses?38
3.4 Research Model Developed
virtual portal of brokers
Mobile Application Network
B2B brokers
Time Lagging
Cost of Services of
Brokers
Value Addition
Expansion of the
Industry
Fastest mode of trading
Virtual Buying
Houses
Information Communications
Technology (ICT)
Communication Gap
less secure
dealings
Popular and
Convenient mode
of Trade
Competition
can reduce bargaining power of
the buyers and sellers
Can we have Virtual Buying Houses?39
3.5 Statistical Technique
The research uses One Sample T Test Technique to discover the role of virtual
buying houses in textile industry. This study is concerned about the progress of buying
houses in the textile industries. The sample population from Textile industry has been
selected. The other objective of conducting this research is to evaluate the contribution of
information and communication technology in the operations of buying houses.
Can we have Virtual Buying Houses?40
Chapter 4: Results
4.1 Findings and Interpretations
Case Processing Summary
N
%
253
90.4
a
27
9.6
Total
280
100.0
Valid
Cases
Excluded
a. Listwise deletion based on all
variables in the procedure.
Reliability Test declares the consistency within the survey procedure. Cronbach’s Alpha
explains the reliability among the tool i.e questions. As per the decree, if Cronbach’s
Alpha is less than 0.5 it is unaccepted.
Cronbach’s Alpha is 0.759, which shows that there is greater level of consistency in the
survey tool and 15 items have been assessed for this test.
Can we have Virtual Buying Houses?41
Hypothesis 1:
Textile Industry must have a virtual portal of brokers for better performance.
Interpretation:
The Statics table shows that 277 participants responded to this question. The one
sample t- test statistics is -0.331 and sig value is 0.741 which is greater than 0.05
Can we have Virtual Buying Houses?42
(0.741>0.05). Mean value 3.99 ≈ 4 which indicates that average sample population is
statistically significantly different from Test Value. Hence, H1 is accepted.
Hypothesis 2:
Launching mobile application is the best source to build up the Network.
Interpretation:
The one sample t- test statistics is 4.731 and sig value is 0.000 which is less than
0.05 (0,000<0.05). Mean value is greater than Test Value(4.21> 4) which indicates that
Can we have Virtual Buying Houses?43
average sample population is statistically significantly different from Test Value. Hence,
H2 is accepted.
Hypothesis 3:
B2B brokers should use online trading facility to attain efficiency.
Interpretation:
Can we have Virtual Buying Houses?44
The one sample t- test statistics is 0.232 and sig value is 0.817 which is greater than 0.05
(0.817>0.05). Mean value 4,01> 4 which indicates that average sample population is
statistically significantly different from Test Value. Hence, H3 is accepted.
Hypothesis 4:
Virtual buying houses can reduce time lagging.
Can we have Virtual Buying Houses?45
Interpretation:
The one sample t- test statistics is -1.470 and sig value is 0.143 which is
greater than 0.05 (0.143>0.05). Mean value 3.93 ≈ 4 and Mean Difference is
-0.072 which indicate that average sample population is statistically
significantly different from population mean. Hence, H4 is accepted.
Can we have Virtual Buying Houses?46
Hypothesis 5
Online markets can save cost of services of Brokers.
Interpretation:
The one sample t- test statistics is -0.923 and sig value is 0.357 which is
greater than 0.05 (0.357>0.05). Mean value 3.95 ≈ 4 and Mean Difference is 0.050 which indicate that average sample population is statistically
significantly different from population mean. Hence, H5 is accepted.
Can we have Virtual Buying Houses?47
Hypothesis 6:
Virtual buying houses can add more value to the brokerage services.
Interpretation:
The one sample t- test statistics is -5.106 and sig value is 0.000 which is less than
0.05 (0,000<0.05). Mean value is 3.75 which isless than Test Value (3.75< 4) which
indicates that average sample population is not statistically significantly different from
Test Value. Hence, H6 is rejected.
Can we have Virtual Buying Houses?48
Hypothesis 7
Introduction of online brokers will lead towards expansion of the Industry.
Interpretation:
The one sample t- test statistics is -1.566 and sig value is 0.119 which is greater
than 0.05 (0.119>0.05). Mean value 3.93 ≈ 4 and Mean Difference is -0.072 which
indicate that average sample population is statistically significantly different from
population mean. Hence, H7 is accepted.
Can we have Virtual Buying Houses?49
Hypothesis 8:
Applications and Web browsers are the fastest mode of trading.
Interpretation:
The one sample t- test statistics is 1.218 and sig value is 0.224 which is greater
than 0.05 (0.224>0.05). Mean value 4.06 > 4 and Mean Difference is 0.062 which indicate
that average sample population is statistically significantly different from population
mean. Hence, H8 is accepted.
Can we have Virtual Buying Houses?50
Hypothesis 9:
Delaying of order processing is because of the communication gap among the parties.
Interpretation:
The one sample t- test statistics is -3.067 and sig value is 0.002 which is less than
0.05 (0,002<0.05). Mean value is 3.82 which is less than Test Value (3.82< 4) which
indicates that average sample population is not statistically significantly different from
Test Value. Hence, H9 is rejected.
Can we have Virtual Buying Houses?51
Hypothesis 10:
Textile Industry is in dire need of Information Communications Technology (ICT).
Interpretation:
The one sample t- test statistics is 1.007 and sig value is 0.315 which is greater than 0.05
(0.315>0.05). Mean value 4.04> 4 and Mean Difference is 0.043 which indicate that
average sample population is statistically significantly different from population mean.
Hence, H10 is accepted.
Can we have Virtual Buying Houses?52
Hypothesis 11
Virtual Buying houses will increase the competition to a great extent.
Interpretation:
The one sample t- test statistics is-2.505 and sig value is 0.013 which is less than
0.05 (0.013<0.05). Mean value 3.87 ≈ 4 and Mean Difference is -0.127 which indicate that
average sample population is not statistically significantly different from population mean.
Hence, H11 is rejected.
Can we have Virtual Buying Houses?53
Hypothesis 12
Online trading can reduce bargaining power of the buyers and sellers which is
beneficial for the Brokers.
Interpretation:
The one sample t- test statistics is-2.321 and sig value is 0.021 which is less than 0.05
(0.021<0.05). Mean value 3.87 < 4 and Mean Difference is -0.126 which indicate that average sample
population is not statistically significantly different from population mean. Hence, H12 is rejected.
Can we have Virtual Buying Houses?54
Hypothess 13
Online Trading is subjected to less secure dealings.
Interpretation:
The one sample t- test statistics is-8.500 and sig value is 0.000 which is less than
0.05 (0.000<0.05). Mean value 3.87 < 4 and Mean Difference is -0.540 which indicate that
average sample population is not statistically significantly different from population mean.
Hence, H13 is rejected.
Can we have Virtual Buying Houses?55
Hypothesis 14:
Virtual buying houses are the most popular and convenient mode of Trade.
Interpretation:
The one sample t- test statistics is-6.472 and sig value is 0.000 which is less than
0.05 (0.000<0.05). Mean value 3.87 < 4 and Mean Difference is -0.321 which indicate that
average sample population is not statistically significantly different from population mean.
Hence, H14 is rejected
Can we have Virtual Buying Houses?56
Hypothesis 15
Virtual Buying houses are preferred over traditional Brokerage.
Interpretation:
The one sample t- test statistics is-4.778 and sig value is 0.000 which is less than
0.05 (0.000<0.05). Mean value 3.75< 4 and Mean Difference is -0.249 which indicate that
average sample population is not statistically significantly different from population mean.
Hence, H15 is rejected.
Can we have Virtual Buying Houses?57
4.2 Hypothesis Assessment Summary
MV
TV
3.99
4
MV ≈ TV
ACCEPTED
H2
Launching mobile application is the
best source to build up the Network.
4.21
4
MV > TV
ACCEPTED
H3
B2B brokers should use online trading
facility to attain efficiency.
4.01
4
MV > TV
ACCEPTED
H4
Virtual buying houses can reduce time
lagging.
3.93
4
MV ≈ TV
ACCEPTED
H5
Online markets can save cost of
services of Brokers.
3.95
4
MV ≈ TV
ACCEPTED
H6
Virtual buying houses can add more
value to the brokerage services.
3.75
4
MV < TV
REJECTED
H7
Introduction of online brokers will lead
towards expansion of the Industry.
3.93
4
MV ≈ TV
ACCEPTED
H8
Applications and Web Browsers are the
fastest mode of trading.
4.06
4
MV > TV
ACCEPTED
3.82
4
MV < TV
REJECTED
4.04
4
MV > TV
ACCEPTED
H11
Virtual Buying houses will increase the
competition to a great extent.
3.87
4
MV < TV
REJECTED
H12
Online trading can reduce bargaining
power of the buyers and sellers which
is beneficial for the brokers.
3.87
4
MV <TV
REJECTED
H1
H9
H10
Textile Industry must have a virtual
portal of brokers for better
performance.
Delaying of order processing is because
of the communication gap among the
parties.
Textile Industry is in dire need of
Information Communication
Technology (ICT).
MV vs TV
EC
Can we have Virtual Buying Houses?58
H13 Online trading is subjected to less
secure dealings.
H14
Virtual buying houses are the most
popular and convenient mode of
trading.
If I am a Textile Broker, I would have
H15 preferred Virtual Buying Houses rather
than traditional Brokerage.
MV = TV → ACCEPTED
MV > TV → ACCEPTED
MV < TV → REJECTED
3.46
4
MV < TV
REJECTED
3.68
4
MV < TV
REJECTED
3.75
4
MV < TV
REJECTED
Can we have Virtual Buying Houses?59
Chapter 5: Discussions, Conclusion, Implications and Future
Research
5.1 Discussion
Due to globalization world textile market is leaning towards the expansion. This
expansion is creating a high level of competition among the industry stakeholder. Pakistan
is also one of the major textile industry operations leaders. Pakistan earns around 57% of
its revenues from the exports of Textile manufactures. Buying houses play a vital role in
the progress of the industry as it works as a bridge in between the manufacturer and the
buyer. It is responsible of settling down all of the related activities.
In the developed countries buying houses are highly equipped with the advanced
technology because it is the actual demand and revenue generating sector. Currently, In
Pakistan all of the operations of the buying houses are being functioned under a traditional
method of brokerage. All the activities either building up a network of manufacturer and
buyer or settling the price dispute are operated manually.
Since there is no use of technology so it creates hurdles for the buying house members
which results in delaying of orders and the completion of the process. And we all know
that due to globalization if one is not in time is basically out of the market. This delaying
can have an adverse impact in the revenue margin of exports.
Can we have Virtual Buying Houses?60
5.2 Conclusion
As per the findings of the research, it is clearly shown that our participants agreed
on the view that buying houses must have a virtual portal to operate their processes more
effectively and efficiently. For this purpose mobile applications are the best and cheapest
source to build up the network, it can multiple the numbers of buyers and sellers
effortlessly.
B2C online facilities have already been successfully practiced in the market but this
research supports that introducing B2B online brokerage in the textile industry can
definitely be a great achievement. The major problem in buying house operations is the
time lagging. As this is the era of technology and time is the most important asset for the
companies. Order processing time lagging can create dissatisfactionamong the parties and
can result in the cancellation of the contract.
Hence, it is concluded that textile industries are in the need of virtual Buying houses for
operating their operations to save their cost of services and to cope up with the time
lagging challenge. Information and communication technology has to be improved
especially in Pakistan textile industry. It has been noticed that due to the communication
gap major export contracts get canceled or the dispute among the parties occur.
5.3 Policy Implications
The requirement of virtual buying houses is established by the dimensions of
Textile industry and its functions. Such inventions can increase the productivity of the
Can we have Virtual Buying Houses?61
textile sector and eventually will have a positive impact on the other sectors of the
economy.
Textile buying house associations can encourage the members of the sector to implement
and adopt advanced information and communication technology. This new version of
buying house can increase the competition in the market which will result in quality
service.
Concerned specialists and authorities must have to work together for the success of virtual
buying house. Some codes of conducts have to be established in order to have secure and
safe dealings. Rules and regulations for registered virtual buying houses have to be
developed so that manufacturers and the buyers can feel free and safe in order to
accomplish the contracts.
5.4 Future Research
This research approached the random sample population size of around 280
participants. It is evident from the findings that the future market is going to be a fastest
and modest market for all aspects of the business. Advanced technology will out date
traditional methods of operations.
The magnitudes of this study support the introduction online buying houses. Launching
Mobile applications and the use of Web browsers can boost the profit margins and can
save the additional cost of services. Skilled labor with the knowledge of advance
technology will be the key demanding factor.
Can we have Virtual Buying Houses?62
References
Abrar, M., Deng, X., Safeer, A. A., Ghafoor, A., & Baig, S. A. (2016). E-Marketing
Development and Its Application in Textile Sector of Pakistan—A Theoretical
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Appendix
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