Fashion Fund. Final Flashcards
Sourcing?
find out where to get and obtain
something from a particular source
Global Sourcing?
sourcing from
the global market for goods and services
across geopolitical boundaries.
Outsourcing?
the process
of contracting a business
function to someone
else.
Manufacturing
make (something) on a large
scale using machinery.
developed countries
imports exceed exports, i.e. special textiles, smart clothes
developing countries
transition phase, i.e. better quality apparel, fur, leather
newly developing countries
agriculture to industry, i.e. import textiles to produce cheaper
apparel, lowest wages
CMT?
Cut Make Trim (CMT)
Factories- cutting fabric,
making garment, providing
trims
Trims
Left over fabric- waste or reused?
Preproduction
all product
development activities performed
before the garment is approved production
Full Package Factories
finance all materials and deliver
finished goods in addition to
assembling apparel to specs
Package Factories
do not offer
product development services (normal
service Factories)
findings
additional components to apparel i.e. zippers,
buttons, etc.
Licensing
extending the value of a
brand without having to develop and
produce a new product
trade fairs
trade shows designed to
get textile and apparel manufacturers
and retailers together to facilitate
efficient transfer of ownership of
products and services
International Trade
Any exchange of goods involving two
or more countries
Domestic Trade
exchange of goods, services or both
within the boundaries of a specified
state or country
Global Trade
Includes the potential interactive
participation of many groups, cultures,
and nations in the manufacturing and
distribution of products
Import and Export Trading Companies
develop and mange international supply chains to assure
goods arrive in a timely manner, correct quantity, acceptable quality, sustainably
Supply Chain
sequence of business processes in multiple countries using multiple firms to fulfill
demand for products and services
Sustainability
endurance of systems and processes
Fair Trade
social movement whose stated goal is to help producers in developing countries achieve
better trading conditions and to promote sustainability. Members of the movement advocate the
payment of higher prices to exporters, as well as improved social and environmental standards.
Environmental sustainability
conserve natural resources and protect global ecosystems to support health and wellbeing
Social Responsibility
an ethical framework and
suggests that an entity, be it an organization or
individual, has an obligation to act for the benefit of
society at large.
Sustainable Design
philosophy of designing physical
objects with the principles of sustainability.
Counterfeiting
The act of making an imitation of an original with the intent to defraud
Knockoffs
a copy or imitation, especially
of an expensive or designer product.
Bootleg Goods
made by the same
manufacturers that make the real one
but who are selling some goods to the
black market
Gray Market Goods
those that were not
intended for sale in the country in which
they are being sold i.e. expensive Swiss
watch sold at a low price in the US
without a valid warranty in the US
Copyright
the exclusive legal right, given to an originator or an assignee to
print, publish, perform, film, or record literary, artistic, or musical material, and to
authorize others to do the same.
Patent
a government authority or license conferring a right or title for a set
period, especially the sole right to exclude others from making, using, or selling
an invention
Trademark
a symbol, word, or words legally registered or established by use as
representing a company or product.
Intellectual Property
a work or invention that is
the result of creativity, such as a manuscript or
a design, to which one has rights and for which
one may apply for a patent, copyright,
trademark, etc.
Upcycling
reuse (discarded
objects or material) in such a
way as to create a product of
a higher quality or value than
the original.
Closed Loop Supply chain
businesses reuse their production waste to create new products
Transparency
operating in
such a way that it is easy for
others to see what actions are
performed.
SIC
Standard Industrial classification
NAICS
North American
Industry classification System
CIM
Computer Integrated Manufacturing
PLM
Product Lifecycle Management
QA
Quality Assurance
UPC
Universal Product Code
RFID
Radio Frequency Identification
EDI
Electronic Data Interchange
Imports
Goods coming into the country
Exports
Goods going out of the country
Entrepreneurship
process of designing,
launching and running a new business,
which is often initially a small business.
The people who create these businesses
are called entrepreneurs.
Entrepreneurial Thinking
PROCESS OF
SEARCHING FOR A
PROBLEM-SOLUTION
FIT
Small vs Large Business
large - Buy it, Makes money, Fills void small - Live it, Necessary $$, Acquisitions
design thinking
helps discover unmet needs
marketing
promotes fashion and
generates interest in new styles and
products, help set trends
branding
PROCESS OF CREATING AND COMMUNICATING A
BRAND STRATEGY
private labels
owned by a retailer and found only in its stores
non brands
label to which customers attach little or no
importance, low priced good with little to no advertising
national/designer brands
owned by a manufacturer that
advertises them nationally
Brand extensions
A COMPANY USES A SUCCESSFUL BRAND NAME
TO LAUNCH NEW OR MODIFIED PRODUCTS
Brand Value
awareness, associations, degree of equity,
Soft Goods
any product made of textiles or other
flexible materials, i.e. batting, fabrics, apparel,
linen, towels upholstery, drapery, fashion
accessories
Body Scanning
3-d
measurement data for
better fit
CAD
Computer Aided Design -test 3-d
contouring, color,
fabrics, folds, creases,
textures- pattern
Mass Customization
tailor the product to fit
one particular customer
(not one size fits all) but
with mass prices
Logo
a symbol or other design adopted by an organization to identify its products, uniform,
vehicles, etc.
Omnichannel
is a multichannel approach to sales that seeks to provide the customer with a seamless shopping
experience
Race to the bottom
who can make goods
the fastest and cheapest
Sourcing decisions
Labor Unions/ Human rights,Labor cost,Geographic location
, Shipping throughout supply
chain
Infrastructure
fundamental physical and
organizational facilities and systems needed for
operations in a country
trade balance
exports –
imports =
trade balance
(positive or
negative)
supply chain management
is the management of the flow of goods and services
QA
quality assurance - ensures the product is meeting the standards
established for it, inspection
Biometrics
are body measurements and calculations related to human characteristics.
beacons
transmits simple data to smart devices nearby.
Virtual Reality Marketing
a marketing strategy that incorporates virtual reality technology in marketing campaigns.
Trade Balance
the net flows of currency in international markets.
Biomimicry
technological-oriented approach focused on putting nature’s lessons into practice
Product Development
all stages involved in bringing a product from concept or idea through market release and beyond.
Innovation
featuring new methods; advanced and original.
fashion blogs
PRESENT RECORDS OF IMAGES OF STREET
STYLE THAT ARE DESCRIBED BY TIME AND A SPECIFIC
LOCATION
Level of Development
is the process of designing, planning, and developing saleable products for the target consumer
Geographic Location
climate, topography, and landscape, influences fashion collectively.
Slow Fashion
a movement that advocates for environmental and social justice in the fashion industry.
fast fashion
inexpensive clothing produced rapidly by mass-market retailers in response to the latest trends.
