First Test.docx - First Test Supply Chain Management SCM...

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First Test 09/14/2016 ° Supply Chain Management ° SCM software and web based application service providers (ASPs) ° Track the movement of goods and service needs ° Transmit orders and communicate delivery status ° Facilitate billing ° Successful SCM software ° -Reduce waste, inventory, and idle capacity ° Shortens orders ° ° Growth strategies: ° Growth industries: ° -Marketplace not yet saturated ° Emerging technology utilized commands a high price ° Is it saturated: very hard to go into athletic shoe business…you have companies that have pretty much taken over. ° ° ° ° Globalization ° -to facilitate further growth, domestic retailers are expanding over seas. ° -creating a global brand requires an understanding of a more diverse customer. ° ° Wholesale Brands: ° -created under a proprietary label and sold at wholesale for distribution to retailers that carry other wholesale brands including:
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° -department stores ° ° Private Label and Store Brands: ° -Private brands: developed and merchandised for exclusive distribution by a particular retailer ° ° Private Label ° ° The highest price point is Couture: ° -Made to order, one of a kind garment. Often hand sewn with custom designed textiles. ° Chanel Couture, Dior Couture, Christian LaCroix Couture ° ° Haute Couture- refers to a small group of designers in Paris who meet formal criteria set by the Chambre syndicale de la haute couture. ° ° ° 8/30 ° Basic Business Functions- ° Merchandising- planning, developing and presentation of the product line from concept to delivery ° -Marketing- advertising and promotional objectives, sales goals, and marketing programs and tools ° ° -Operations- the upkeep of equipment used by employees ° -Finance- Expenditures for materials and equipment, salaries of employees and the overall budget ° - Sourcing-supply chain management. ° ° Strategic Planning
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° -developed by the firms executive management team. ° -Should be based on the firms mission, vision, and values ° *mission statement: articulates why they are in business, the customer they serve, and what makes them special. ° *vision statement: outlines goals for the future and how it wants the world to see its brand. It may need to be reviewed when goals have been reached or market conditions change. ° *a company’s mission and vision statement reflects its core values- what it holds important as a business. ° ° Budgets: ° Written plans for anticipated monetary income and expenditures of the firm ° -Established during strategic planning phase. ° ° Merchandise Planning: ° Consists of: ° -Line Merchandise planning ° Line development ° Presentation of Products ° ° Merchandise Budget: Identifies the resources needed to meet profit, sales, and margin objectives for a specific season ° Line or range plan: set sales and margin goals for lines ° Assortment plan: Breaks down the line plan into components that address customer preferences: ° -What product ° -How much of it ° -What colors ° -What sizes ° - Delivery within seasonal calendar
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