TERM 2 - Project 3 ' Sourcing Product in an Agile Market' by Lydia Young https://padlet.com/lydiayoung202/8keeezt3z26k5yqp en-us 2022-01-25 11:47:39 UTC 2024-10-10 11:07:08 UTC hello@padlet.com lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2010985091 2022-01-25 11:51:11 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2010985091 lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2010988172

]]> 2022-01-25 11:53:21 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2010988172 lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2010989365 2022-01-25 11:54:07 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2010989365 lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2010991777 2022-01-25 11:55:42 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2010991777 Supply Chain lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2011022021 - A supply chain is the process of tracing each step of the clothes manufacturing process from sourcing the raw materials to the factory where they are actually made into garments right up to when it reaches the consumer

Process is:
designing-producing materials-producing clothes-distribution and retail-reaching consumers]]> 2022-01-25 12:17:40 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2011022021 Critical Path lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2011025462 The critical path includes key dates in the journey of a garment from concept right up to shop floor, it monitors their progress and any issues.

The active, efficient and effective control and monitoring of stock into the business]]> 2022-01-25 12:20:03 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2011025462 Critical Path lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026100004 The critical path includes key dates in the journey of a garment from concept right up to shop floor, it monitors their progress and any issues.

The active, efficient and effective control and monitoring of stock into the business]]> 2022-02-02 19:00:31 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026100004 Supply Chain lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026100605 - A supply chain is the process of tracing each step of the clothes manufacturing process from sourcing the raw materials to the factory where they are actually made into garments right up to when it reaches the consumer

Process is:
designing-producing materials-producing clothes-distribution and retail-reaching consumers]]> 2022-02-02 19:00:48 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026100605 Suppliers KPI - Key performance indicator lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026115159 - quality 
- delivery
- financially stable 
- intake margin
- profitability
- tech ability
- length of relationship]]> 2022-02-02 19:08:16 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026115159 What is a comp shop? lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026122689 - a snapshot in time
- a continuous process, always changing so have to be carried out at least once a month
- a tool to compare against competitors
- a way to identify opportunities and risks
- is a form of primary and secondary research]]> 2022-02-02 19:12:09 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026122689 Monday Trade meeting lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026134105 - You react to sales from the week before and identify the trends
- Helps you understand the product life cycle
- Use the data to understand best sellers
- The team present their trading figures to the head of department.
- They highlight their success and their concerns along with context
- They discuss future performance and risks and opportunities.]]> 2022-02-02 19:17:57 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026134105 Best Vs Worst sellers lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026143697 Best:
- understand what product attributes made it a best seller.
- could place a direct repeat if sold out
- re-price up and add additional colors and other options to maximize profit
Worst:
- understand the attributes that made it not sell
- check the fit, quality, and fabric 
- Could be due to the wrong time in the season
- the photo of the model wearing it online could not be flattering enough to make people want to purchase the item.
- go through social media reviews and the rate of returns to get a real insight into what customers thought of the products.
- potentially change the price as could be too overpriced for the customers]]> 2022-02-02 19:23:14 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026143697 How to work out the cover lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026145598 stock units/sales units = cover]]> 2022-02-02 19:24:17 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026145598 Merchandise Mix lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026159019 Product line: lines that makeup the range
Product items: related lines that make up the % mix
Brands: ensure the brand offer reaches the relevant target consumer

In the mix you need...
  • balance & structure
  • price architecture 
  • good/better/best
  • choice/variety
  • trends and newness
  • reflective image
  • good color mix
  • good mix of tops/bottoms
  • mix of fashion/basics/trends
  • top/mid/bottom store
  • coordination 
]]> 2022-02-02 19:31:29 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026159019 What to consider when building a range lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026163698
  • category
  • allocation grade
  • colour mix
  • entry/mid/exit
  • core/fashion/trend mix
  • price architecture
  • fabrics
    • My plan mix:
    60% basics 30% fashion 10% directional
    ]]>     2022-02-02 19:34:03 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2026163698     Sales Turnover lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2032645926 - the cash value paid by the customer(s) to the retailer for a product
    e.g
    Converse is £30 & we sold 1000 units
    UNITS SOLD x SELLING PRICE = SALES £ VALUE
    1000 x 30 = £30,000 sales turnover / sales £]]>     2022-02-07 09:29:06 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2032645926     Weeks cover lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2032649802 - the number of weeks in which an item would sell out at the current unit-sales-per-week levels
    BRANCH STOCK / WEEKLY SALES = WEEKS COVER
    - can describe cover as fast, slow & average]]>     2022-02-07 09:31:32 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2032649802     ROS - rate of sale lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2032661814 - measures the average number of units sold of an option per week, per store
    WEEKLY SALE UNITS / NUMBER OF STORES SELLING ITEM = ROS]]>     2022-02-07 09:39:03 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2032661814     Sell-through % lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2032674459 - measures the amount sold of an option by expressing sales units as a percentage of the units bought
    Cumulative sales / Total buy (intake/receipts) * 100]]>     2022-02-07 09:47:02 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2032674459     Emerging sourcing markets lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035025546 Vietnam - duty-free shipments (4% cheaper)
    - better quality than China
    - can use technical fabrics
    Myanmar - cheap labor and good workmanship
    - worked with the UK for over 20 years]]>     2022-02-08 09:18:39 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035025546     Corporate strategy: lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035038705
  • brand direction
  • brand mission and vision
  • profits and margins
  • the economy
  • sustainability
  • wages costs
    • ]]>     2022-02-08 09:26:28 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035038705     Department strategy lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035040212
  • sizing
  • costs
  • sustainability
  • social trends
  • events / promotions
    • ]]>     2022-02-08 09:27:25 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035040212     A buyer will consider these when choosing a supplier... lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035090078
  • price
  • location/logistics
  • quality
  • communication
  • import duty
  • time difference
  • risks e.g natural disasters
    • ]]>     2022-02-08 09:56:40 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035090078     Supply base policy lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035103540 broad supply - offers choice, flexibility, but is difficult to manage. It means that you are less important to each supplier and therefore less likely to get the best deal
    Narrow supply - offers less choice but will have a higher spend with each supplier and therefore have greater negotiating power]]>     2022-02-08 10:04:22 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035103540     Types of suppliers lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035165146 factories (direct) + more control over and lower costs + builds good relationships - language barriers - location could have natural disasters
    wholesalers + good for stock fillers + get it quickly - no negotiation power - no control in quality or design - have to wait for the stock
    UK agents + easier to deal with + no language barrier + more support - risky as they are working with other brands]]>     2022-02-08 10:40:16 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2035165146     Channels lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2045803083 E-com: all electronically mediated information exchanges, have the ability to shop anytime, anywhere, have access to global brands
    M-com: combination of portability has given consumers the ability to search and buy immediately, apps help to create this personal experience
    S-com: social commerce is when brands use their social media platforms to sell their products and services, creates a direct relationship]]>     2022-02-14 09:21:41 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2045803083     How consumers are changing lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2045843453
  • the decline in customer loyalty
  • moving to m-com & s-com
  • retailers need to provide service & experience
  • consumers expect more
  • see now, buy now
  • want now but don't want to pay extra
    • ]]>     2022-02-14 09:48:50 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2045843453     Key Metrics lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2045864052
  •  traffic - visitors to website
  • conversion - % of website visitors who purchase
  • bounce rate - % of website visitors who leave after viewing just one page
  • time on site - amount of time spent on website
  • pages per visit - how many pages did they view
  • new users - first time users
  • returning visitors - user returns
    • ]]>     2022-02-14 10:01:10 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2045864052     MARGIN lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2081261249 - represents the profit or loss made on each item
    - the difference between the cost price (CP) and the selling price (SP)
    • (SP - CP) / SP = margin
    ]]>     2022-03-07 09:20:05 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2081261249     Average department margins lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2081265200 2022-03-07 09:22:42 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2081265200 lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107096074 2022-03-22 09:16:12 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107096074 Buyers Role lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107565645 2022-03-22 13:51:35 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107565645 CV lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107572105 2022-03-22 13:54:18 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107572105 CV 360 lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107575410 2022-03-22 13:55:37 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107575410 Pulse Survey lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107581876 2022-03-22 13:58:30 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107581876 Reflective Blog lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107583404 https://www.canva.com/design/DAE2dlIQM-o/r4rhjb-39lM7Kg6LWfAmOw/view?utm_content=DAE2dlIQM-o&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton]]> 2022-03-22 13:59:11 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107583404 LinkedIn lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107591689 2022-03-22 14:02:37 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107591689 Myers Briggs Profile lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107599299 2022-03-22 14:05:51 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107599299 Supplier Email lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107602985 2022-03-22 14:07:30 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107602985 Comp Shop lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107613449 2022-03-22 14:11:55 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107613449 lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107618707 2022-03-22 14:14:08 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107618707 lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107620505 2022-03-22 14:14:44 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107620505 Interview 360 lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107742135 2022-03-22 15:04:39 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107742135 lydiayoung202 https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107756458 https://www.canva.com/design/DAE5ASWGK0E/A1SqsqvY6zcVDr-_oEtYwQ/view?utm_content=DAE5ASWGK0E&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton]]> 2022-03-22 15:10:15 UTC https://padlet.com/lydiayoung202/8keeezt3z26k5yqp/wish/2107756458