Bangladeshi garment export company Sayem Group has launched an online platform which acts as a matchmaking service for buyers and sellers of garment items.

Merchant Bay is an online-based B2B platform. It works with trade digitisation, sourcing digitisation, and production monitoring. Merchant Bay is committed to ensuring the digitisation of the supply chain by facilitating sourcing for both the producer and the buyer.

The platform will primarily work to build, verify, and create digital profiles of Bangladeshi RMG manufacturers to reach buyers worldwide. It will also be able to quickly connect suppliers with buyers, deliver updates with transparency, order processing, and production monitoring.

By using the platform, it will be possible to make analytical decisions that will make sourcing more affordable and increase production efficiency, it said in a blog post. 

Merchant Bay will also work to help SMEs and new entrepreneurs in the garment industry to keep the supply chain active and uninterrupted. In addition to establishing a relationship between the producer and the buyer, Merchant Bay has built supplier verification and production monitoring systems. Using the Merchant Bay Production monitoring system, a manager will be able to manage his factory more efficiently.

At the digital inauguration of the platform, Merchant Bay managing director Abrar Hossain Sayem told local press that when buying garments, auditing and verification of the information of goods and factories are "very important." In many cases, export orders get cancelled or suspended because of incorrect audit reports and verification of both factories and buyers, he said.

"So we will verify the factories with our expert teams and if we are satisfied with the factory visit and audit, we will send a verification badge to the buyers so that they can rely on it and do business hassle-free," Sayem told The Daily Star.

Rubana Huq, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) added: "This is a very appropriate initiative. I think by using it, traders will be able to communicate with buyers outside the country very easily. Since corona[virus] is changing buyer behaviour, I believe this B2B platform will be very effective for everyone related to the RMG sector."