HUEC 3032 Mid Term Study Guide

HUEC 3032 Mid Term Study Guide - HUEC 3032 Mid Term Study...

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Unformatted text preview: HUEC 3032 Mid Term Study Guide 12/10/2008 14:33:00 ← ← Role of Product Development in the Apparel Supply Chain ← • What is Product Development? o Strategic, creative, technical, and production planning of goods o Requires flexibility to adapt to a fast changing marketplace Products, how they are made, marketing, distributing, etc must be ready for constant change • What is the Apparel Supply Chain? o The network that brings apparel products to the ultimate user o Includes: suppliers, product developers, _____, distribution channels, auxiliary businesses • The Traditional Apparel Supply Chain o Linear ____, fiber production, textile production, manufacturing, retailers, final consumer o Today: the apparel supply chain functions as ____ and competes globally by using computer knowledge and other technologies o ____ (comprehensive response to profiting challenges…) • Product Lifecycle o Growth – new fashions o Mature – saturated market • Growth Strategies o Vertical Integration ____ Benefits: use other companies to outsource processes that can be performed better o Horizontal Integration ____ Benefits: reduces competition o Diversification ____ o Globalization ____ • Auxiliary Businesses o Important in an agile manufacturing environment o Processes that are not done well within one company can be out sourced to other companies to have it done better • Product Development Variations o Branded Products, ____, Private Label Products, ____, Licensed Products, Customized Products • Tools of Supply Chain Management o ____, specification ordering, bar coding, ____, CAD, automatic replenishment systems, B2B • CONCLUSION: o Successful product development in today’s industry environment requires: HUEC 3032 Mid Term Study Guide 12/10/2008 14:33:00 ← ← Business Planning ← ← Basic Business Functions: • Merchandising: planning, developing, and presentation of product line o ____ • Production: responsibility for making the product • Finance: keeps track of all ____ • Operations: oversees upkeep • Marketing: ____ ← Planning Functions • Strategic Planning - ____ focuses on the business strategy in the marketplace and overall financial strategy • Merchandising Planning – planning, developing, and presenting product lines for target market with regard to price, assortment, style, and timing • Creative Planning - ____ • Technical Planning - ___, focus on fabrics • Production Planning – links merchandise decision with design and technical, ____ ← Elements of Product Development • Line concept, line development, prototype sample, line presentation, production sample ← NAICS • ____ ← Product Mix •...
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HUEC 3032 Mid Term Study Guide - HUEC 3032 Mid Term Study...

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