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64 Cards in this Set
- Front
- Back
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Factoring |
business of purchasing and collecting accounts receivable or of advancing cash on the basis of accounts receivable |
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PDS |
(Pattern Design System) codes measurement dimensions and sizing standards |
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Venders= |
Vendors=source=suppliers |
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Variables that influence vendors |
-lead time needed to secure the goods -past history of on time delivery -quality of goods -whether the vendor uses supply chain management strategies -Minimum yardage requirement for an order -financial stability of the vendor |
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Lab Dip |
fabric swatch submitted for accurate color matching |
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Registration |
accuracy of placement of a print |
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Strike Off |
sample of fabric by textile vendor |
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Grading |
pattern pieces made for each size |
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Tolerance |
acceptable dimension variations in measurement specs |
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Fallout |
waste, fabric that cannot be used |
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Measurement Specifications |
includes chest, neck, and waist circumference, jacket hem circumference, back length, and sleeve length |
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Social responsibility |
Triple bottom line: people, planet, profit Consider human rights, labor conditions, environmental implications |
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Company and Design Criteria (internal) |
The company’s sourcing philosophy Labor requirements, costs, productivity Fabric/materials quality and availability Quality assurance/control standards Equipment and skills required Required plant/factory capabilities Social responsibility and environmental impact |
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Political and Geographic Criteria (external) |
Trade agreements and other governmental regulations Shipping distances and expected turnaround time Infrastructure of the country; availability of materials and supplies Political and economic conditions of the country Natural disasters |
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Tariffs |
Imposed on imported goods to make more competitive in price with domestically produced goods. |
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Absolute quotas |
Limit the quantity of goods that can be imported |
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Tariff-rate quotas |
Set a limit after which a higher duty is charged on goods entering the country |
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NAFTA |
North American Free Trade Agreement Eliminated quotas and tariffs for goods shipped between the U.S. and Canada and Mexico. Mexico and Canada benefited, and the Caribbean Basin Initiative nations suffered. Canada now trades 80% of its exports with the U.S., up from 60% twenty years ago |
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Harmonized Tariff Schedule Section 9800 Production (HTC 9802) |
Made and cut in US shipped for assembly tariff is on value added only |
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Free Trade Agreement (FTA) |
Supports the free exchange of goods among nations. |
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Full-package (FP) contractor |
to comply with a code of conduct and they conduct facility audits |
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Manufacturing Environment |
production facility, location of production, choice of production process, and cycle time |
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Mass Production |
Capitalizes on economy of scale Easier to forecast Slightly longer lead time and production time |
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Fast fashion production-short cycle |
Products go from concept to retail stores in less than 3 weeks |
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Mass customizaton |
Involves consumer in the customization of the design
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Mass customization Advantages |
Reducing large inventories Minimize returns Reducing distribution costs Building strong customer relationships and brand loyalty Identifying customer preferences and buying habits |
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Made to Measure |
a fully customized process Sell one, make one |
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Single Hand System |
Sample hand Used for couture or very high priced apparel |
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Piece Rate |
The number of pieces completed per day |
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Work in progress |
WIP |
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Flexible manufacturing |
Any departure from traditional mass production system toward faster, smaller or more flexible production units that depend upon the coordinated efforts of minimally supervised teams
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FM involves |
Reorg existing equipment Dev new equip Reorg routing of production Reorg workers into teams and cross-train |
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Agile Manufacturing |
combination of technologies that integrate retailers and suppliers to manufacturing facility |
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Sew by or counter sample |
contractor’s sample |
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Garment dyed |
dye garments during finishing |
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Freight forwarder |
arranges shipment of the goods |
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Export Agent |
used to assist the manufacturer that contracted the goods (the importer) |
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Customs Broker |
in the US helps import products produced for the company in another country. Fee based on transaction not the number of units |
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Direct Marketing Channel |
straight to customer |
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Limited Marketing Channel |
through store or other non-store venues |
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Extended Marketing Channel |
through wholesaler and then to retailer |
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Mass Distribution |
(intensive distribution) -available to as many customers as possible through a variety of outlets |
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Selective Distribution |
distributed only through certain stores. Most national brands. may establish minimum order Geographic region limitation |
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Exclusive Distribution |
manufacturers limit the stores to create an exclusive image Designer price lines, Private label, exclusive licensing brands |
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Flow-through |
move merchandise with little if any time in storage |
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Distribution center |
used when shipments include goods produced in more than one location |
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UPC |
Universal Product Code (UPC) bar coding |
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EDI |
Electronic data interchange |
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Retailer |
the company or business that makes a profit by selling goods and services to the ultimate consumer |
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Department Store |
divide functions and merchandise into departments Fashion oriented merchandise assortment Variety of services for customers credit cards, wedding registry, gift wrap Merchandise offered at full markup price with seasonal sales At least 50 employees Operate in stores large enough to be shopping center anchors May have in-store shops |
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Specialty Stores |
Carry one category of merchandise or a few closely related categories of merchandise Focus on merchandise for a well defined target market Carry the merchandise of one manufacturer or brand Ex. Gap, Limited, Urban outfitters |
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Factory Outlet Stores |
Sell national brands, designer collections or promotional goods at discount prices Characteristics buy merchandise at low prices carry well-established brands merchandise assortments change quickly (inconsistent styles and sizes) |
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Discount Stores |
Carry brand name merchandise at less than traditional pricing Includes apparel merchandise at the mass or budget price zone Eg: Kmart, Target, Walmart Keep prices lower through mass merchandising and supply chain management quantity discounts effective replenishment strategies high turnover rates on products limiting brands and styles to only the most popular self-service lower overhead costs promotions that cater to a broad target market |
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Franchise |
Retailer sponsored cooperatives that take the form of an organization of small independent retailers Wholesaler-sponsored voluntary chains, in which a wholesaler develops a program for small independent retailers |
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Leased Departments |
Retailer sponsored cooperatives that take the form of an organization of small independent retailers Wholesaler-sponsored voluntary chains, in which a wholesaler develops a program for small independent retailers |
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Trade Associations |
Electronic Retailing Association National Retail (NRF) is the largest trade association for retailers both in the United States and globally Publishes STORES magazine, a monthly trade |
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Skins |
Less than 15 pounds From Claves, goats, pigs, sheep, deer |
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Kips |
More than 15 pounds, but less than 25 pounds From young horses & cattle |
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Hides |
More than 25 pounds From cattle, oxen, buffalo, & horse skins |
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Pelt |
the skin of a fur-bearing animal |
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What was the most sought after fur in the 18th century? |
Beaver |
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Where are fur pelts sold? |
At auctions |
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What is the most popular fur today? |
Mink holds a commanding lead with fox and beaver. |
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What is the importance of color forecasting? |
Need 8 to 16 months from deciding for the production |
