Fundamentals Exam Flashcards
sourcing
exercise which goes beyond economic considerations and takes into account environmental, social, and ethical factors as well
global sourcing
sourcing from the global market for goods and services across geopolitical boundaries
out sourcing
the process of contracting a business function to someone else
manufacturing
make (something) on a large scale using machinery
Cut Make Trim (CMT)
cutting fabrics, making garment, providing trims
infrastructure
the basic framework of a building or a system
trim
left over fabric
findings
additional components to apparel (zippers, buttons…)
preproduction
all product development activities preformed before the garment is approved for production
full package factories
source, finance all materials and deliver finished goods in additions to assembling apparel to specs
package factories
do not offer product development services (moral service factories)
licensing
extending the value of a brand without having to develop and produce a new product
omnichannel
a multichannel approach to sales that seeks to provide the customer with a seamless shopping experience
omnichannel
a multichannel approach to sales that seeks to provide the customer with a seamless shopping experience
supply chain
sequence of business processes in multiple countries using multiple firms to fulfill demand for products and services
imports
goods coming into the country to be sold
exports
goods made in the country going out to be sold in another country
trade balance
exports-imports (positive or negative)
trade fairs
shows designed to get textile and apparel manufacturers and retailers together to facilitate efficient transfer of ownership of products and services
fair trade
social movement whose state goal is to help producers in developing countries achieve better trading conditions and to promote sustainability; advocate for better social and environmental standards, and pay more to exporters
biomimicry
the design and production of materials, structures, and systems that are modeled on biological entities and processes
counterfeiting
act of making an imitation of an original with the intent of defraud
sustainability
corporate, government, and consumer responsibility to integrate economic, political, environmental, and cultural dimensions to promote cooperation and solidarity among people and generations
environmental sustainability
rates of renewable resource harvest, pollution creation, and non-renewable resource depletion that can be continued indefinitely
knockoffs
a copy of imitation, especially of an expensive or designer product
transparency
the presentation of a company’s facts and figures in a way that is clear and apparent to all stakeholders
sustainable design
philosophy of designing physical objects, the built environment, and services, to comply with the principles of social, economic, and ecological sustainability
slow fashion
the movement of designing, creating, and buying garments for quality and longevity
fast fashion
the retail strategy of keeping fashion fresh, as if It were a perishable good
copyright
legal right given to and originator or and assignee to print, publish, perform, film, or record literacy, 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
logo
a symbol or other design adopted by and organization to identify its products, uniform, vehicles
closed loop supply chain
maximizes value creation by recovering value from product or material returns
upcycling
reuse (discarded objects or material) in such a way as to create a product of a higher quality or value than the original
marketing
companies create value for customers and build strong customer relationships in order to capture value from customers in return
race to the bottom
who can make goods the fastest and cheapest
gray market goods
not intended for sale in the country in which they are being sold
bootleg goods
made by the same manufacturers that make the real one but who are selling some goods to the black market
intellectual property
work or invention that is a result of creativity to which one has rights and for which one may apply for a patent, copyright, trademark
entrepreneurship
process of designing, launching and running a new business, which is often initially a small business
product development
marketing strategy that entails the creation of new products for present markets
entrepreneurial thinking
mental process of overcoming ignorance to decided if something is an opportunity/reducing doubt that others opportunities are also for them; processing feedback from actions steps taken
small business
independently owned and operated for profit and is not dominant in its field
large business
runs by a corporate company
innovation
improvement of an existing technological product, system, or method of doing something
fashion bloggers
present records of images of street style described by time and specific location; a snapshot image of innovating and early fashion adopting residents of a city
body scanning
technology that helps manufacturers, retailers and customers gets a better fit (clo-3d)
