Fast Fashion Is A Collaborative Process


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Fast Fashion Is A Collaborative Process

  2. 2. Quick Response Quick Response (Fast Fashion) is a  business strategy which addresses the increase in consumer demand for new apparel products by shortening the product development cycle Just In Time(JIT) is a business strategy to  reduce inventory costs by shipping goods only when they are needed Marketers used QR and JIT in order to  build competitive advantages Research showed that USA soft goods  supply chain was losing $25 billion annually  Markdowns on garments that did not meet needs of market  Lost sales due to stock outs where consumers couldn’t find the style, size, and color  High inventory carrying costs
  3. 3. QR Strategy Business strategy for domestic and  international textile, apparel, and retail sectors to reduce inventories, shorten cycle times, and respond rapidly to changing consumer demands Primary objective of QR is risk reduction  of markdowns and stock outs Develop technologies in data processing,  communications, software, and collaboration
  4. 4. QR Requirements Control  Communication  Collaboration 
  5. 5. Control Effective control systems must  be in place Merchandising calendars   Product data management  Merchandise planning, forecasting, and adoption  Product sourcing and manufacturing  Inventory management  Point-of-sale information systems
  6. 6. Effective Communication: Information Flow Effective communications must provide meaningful, accurate data  and transfer that data as quickly as possible
  7. 7. Collaboration For QR, collaboration is a vital factor  Foundation of QR is partnerships with the links in  an integrated textile supply chain
  8. 8. Collaboration Process Share information(pos, edi, and extranets)  Establish decision-making models  Requires trust and confidence in partnership  Chain is only as strong as weakest link  Establishing reliable, effective, responsive  partnerships throughout the entire supply chain is cornerstone of successful QR initiatives
  9. 9. The Importance of the Supply Chain The supply chain begins with the fiber which is  processed into yarn, then into fabric, and ends with fabric finishing, including dyeing and printing. Retail Fiber Textile Apparel
  10. 10. The Timing of Innovation The scheduling of textile  development is a critical factor in the introduction of fashion productions The time involved depends  on the source of the fiber and the production stages between raw material and final fabric.
  11. 11. Sources of Innovation in Textile Development Designers choose fabrics very early in the product development process because the attributes of fabrics are lined to the silhouette and mood of the collection.
  12. 12. Fashion Development Is Unity Fabric, color, trim, and silhouette trends exist in harmony and should represent a strong cohesive brand identity; this unity facilitates the fast fashion process.
  13. 13. Trend Identification, Analysis, and Synthesis Abstracting is the process of forecasters’ shifting through information and identifying the underlying similarities(or differences) between design collections. These similarities(or differences) are expressed through: The totality of the look The theme or mood The proportions of the apparel pieces The silhouette Point of emphasis The fit A specific detail Exaggeration in detail A specific trim Fabric finishing A specific fabric A color story
  14. 14. Pantone Spring 08 Color Palette
  15. 15. Trend Analysis and Synthesis Analysis and synthesis are  the two faces of forecasting Analysis = dissecting to  achieve a more complete understanding Synthesis = creative  reintegration of the parts Click visual to connect to fashion video, may have to press escape button to view
  16. 16. Trend Analysis and Synthesis In fashion forecasting this  means:  An accurate reading of the trend in all its subtle aspects  Matching the trend with the consumer profiles most likely to initially adopt it  Matching the trend with the product category, price point, and retail concept most likely to complement it
  17. 17. Sales Forecasting Forecasting is easy for products with long lifetimes and steady sales, such as appliances, automobiles, and electronics. The apparel business is much more volatile, hence more likely for errors to occur such as: •Markdowns •Stock-outs
  18. 18. Product Life Cycle Stages of the product life cycle include: Development Stage Introduction Stage Market Development Stage Exploitation Stage Maturity Stage Saturation Stage Decline Stage
  19. 19. Sales Forecasting Data Sales forecasting requires access  to three kinds of information:  Internaldata on sales volume and marketing actions  Information on future plans for marketing and product distribution  External data relevant to their market and information on general economic, political, and cultural conditions
  20. 20. Sales Forecasts Projection of sales by category, style, color, and size  Based on historical data and statistical analysis  Most difficult planning and control tool for merchandiser to  successfully implement Sales plan is the tool used to meet or exceed the sales  forecast
  21. 21. Factors Influencing a Sales Forecast Factors that can influence a sales forecast  include:  Controllable Factors  Marketing Actions  Operating Practices  Uncontrollable Factors  Actionsof Competitors  Access to Channels of Distribution  Government Regulations
  22. 22. Dynamic and Experienced Freelance Product Developer For more information on • making the right choice for your company’s growing needs Contact Jaye Brown:  678-799-5187 or email at  •Start today to put freelance to work for you!