Fcs 368: Chapter 1

Front 1

Apparel manufacturer

Back 1

Firms that engage in merchandising (including design and product development), production, and wholesale marketing of apparel

Front 2

CMT (cut, make, trim)

Back 2

Apparel contractors who commonly provide apparel assembly as their primary service

Front 3

Conglomerate

Back 3

a business formed when firms in unrelated markets join together for common ownership

Front 4

Contractor

Back 4

a firm that manufactures products for other businesses or arranges for their production

Front 5

Department Store

Back 5

retailers that provide a variety or products, lines, including apparel for men, women, and children; soft good for the home; and home furnishings usually at moderate to higher-price levels

Front 6

Developed Country

Back 6

a nation whose gross domestic product per capita and other measures of well-being fall well above the world average

Front 7

Developing country

Back 7

a nation whose gross domestic product per capita and other measures of well bring fall near or below the world average

Front 8

Domestic Trade

Back 8

exchange of goods, services, or both within the boundaries of a specified state or country

Front 9

Export Trading and Sourcing Company

Back 9

Provides services for the entire global apparel manufacturing and distribution process

Front 10

Exports

Back 10

goods shipped to another country for import in exchange for money, or other goods, or jobs

Front 11

Findings

Back 11

materials other than face fabric used to construct garments; interlinings, pocket bags, linings, closures and so on

Front 12

Firm

Back 12

any business, corporation, proprietorship, or partnership

Front 13

Full Package

Back 13

apparel contractor that not only provides production services but also assists with and finances product development and materials sourcing

Front 14

Global Trade

Back 14

includes the potential interactive participation of many groups cultures and nations in the merchandising production and distribution of products

Front 15

Globalization

Back 15

the process whereby the world's people are becoming increasingly interconnected in all facets of their lives

Front 16

Gross Domestic Product (GDP)

Back 16

the market value of the output of products and services produced within a country in a year

Front 17

Gross domestic product per capita

Back 17

Gross domestic product of a country divided by the number of people in the population

Front 18

Gross national product

Back 18

the calue of the average output produced by domestic residents of the nation as they labor within the nation

Front 19

Horizontal integration

Back 19

merger with a competitor, a firm offering products or services for the same market

Front 20

Imports

Back 20

goods available for domestic consumption or materials available for domestic production because of exports of other countries

Front 21

International trade

Back 21

any exchange of goods involving two or more countries

Front 22

lean retailing

Back 22

effective management of inventory based on accurate and timely information and frequent resupply

Front 23

Least Developed Country

Back 23

a nation whose gross domestic product per capita and other measures are among the lowest in the world; not yet involved in industrial developed via apparel

Front 24

Market Week

Back 24

calendar time set aside for trade shows featuring manufacturer's product lines presented at wholesale to retail buyers

Front 25

Mass retailer

Back 25

a firm that offers a wide variety of consumer goods in half

Front 26

Merger

Back 26

combining two businesses entities into one larger business

Front 27

Newly Developing Country

Back 27

A Nation whose gross donestic product per capita and other measures of well being fall well below the world average; are engaged in industrial development via apparel

Front 28

Non-store retailer

Back 28

firms that sell goods to the ultimate consumer without use of traditional brick-and-mortar presentation

Front 29

Outsourcing

Back 29

shifting specific operations outside the country in which the origin-conferring operations are performed; the process of acquiring technical

Front 30

Outward processing

Back 30

outsourcing non-origin-conferring operations to a country with a lower wage rate

Front 31

Purchasing Power Parity (PPP)

Back 31

determined by adjusting GDP ineach country by a system like the Consumer Price Index that determines the relative buying power of each currency

Front 32

Quick Response (QR)

Back 32

A comprehensive business strategy that incorporates time-based competition, agility, and partnering to optimize the supply system, the distribution system, and service to customers

Front 33

Quotas

Back 33

limits on the quantity of products allowed to enter or exit a country

Front 34

Retail product developer

Back 34

an individual who or firm that develops merchandise plans, creates the designs, and develops the specifications for the sourced from production contractors

Front 35

Sourcing

Back 35

Activities performed to acquire materials, and finished goods; selecting a country or vendor to do business with

Front 36

Soft goods

Back 36

products made of textiles or other flexible materials; apparel, fabrics, linens, towels, upholstery, and small fashion accessories

Front 37

State Trading

Back 37

the involvement of governments in the business environment

Front 38

Takeovers

Back 38

absorbtion of weaker firms into more successful operations

Front 39

Tariffs

Back 39

Taxes on imports or exports