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KSU - Fashion 45012 - Study Guide - Final

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KSU - Fashion 45012 - Study Guide - Final

School: Kent State University
Department: OTHER
Course: Textiles and Apparel in the Global Economy
Professor: William Perrine
Term: Fall 2017
Tags: apparel
Name: Final Exam
Description: Final Exam Study Guide
Uploaded: 11/28/2017
0 5 3 53 Reviews
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background image CHAPTER 1:
Accessories: 
handbags, jewelry, purses, wallets, tote bags, and belts as 
well as eyeglass frames.
Apparel: clothing, accessories and/or other attire that covers, adorns, and 
sometimes protects the human body.
Apparel Firm: a commercial or industrial business that is engaged in some 
aspects of designing, merchandising, marketing, producing and/or retailing 
garment and/or other attire.
Apparel Industry: combination of trades and business that contribute to 
designing, developing, producing and retailing garments and other attire that
covers, protects and/or adorns the human body.
Apparel Manufacturer: firm engaged in the entire process of apparel 
manufacturing; might also be involved in sourcing materials and/or retailing.
Apparel Manufacturing: processes involving division of labor for 
designing, merchandising, developing, producing and often wholesale 
marketing garments and/or other attire that adorn the human body.
Apparel production: part of the process of apparel manufacturing that 
actually converts materials- including fabrics, findings, trims, and usually 
thread-into garments; also known as apparel assembly,
Apparel production vendor:  firm that takes apparel products from other 
firms and that either produces or arranges for the production of those 
specific garments; historically called production contractors.
Apparel Sourcing: determining the most cost efficient vendor of services, 
materials, production, and/or finished goods at a specified quality and 
service level for delivery within an identified time frame.
Brand Manager: a former apparel manufacturer that is engaged in design 
and product development but owns little or no production facilities and 
sources garment assembly from vendors located elsewhere in the world.
Clothing: wearing apparel including men’s, women’s, and children’s 
garment as well as gloves footwear and headgear.
Conglomerate: business formed when firms serving multiple markets join 
together with common ownership.
Contractor: firm that provides services for other businesses, often used for 
selected apparel manufacturing processes; in today’s sourcing language, 
these firms are called.
Country of Origin: the location where an article was wholly obtained; when
more than one country is involved, the location where the last substantial 
transformation was carried out, the location where there is a change in the 
background image product designation number, according to the Harmonized commodity code 
and designation system (HS).
Cut-make-trim (CMT) Factory or Vendor: apparel contractors that 
commonly provide apparel assembly as their primary service
Department Store: retailer that provides a variety of product lines, 
including apparel for men, women, and children; soft goods for the home, 
and home furnishing, usually at moderate-to-higher price levels. 
Developed Country: nation whose gross domestic product per capita and 
other measures of well-being fall well above the world average.
Developing Country: nation whose gross domestic product per capita and 
other measures of well-being fall near or slightly below the world average.
E-commerce: electronic business transactions conducted by systems such 
as the internet.
E-tailing: retailers providing opportunities for ultimate consumers to 
purchase products or services, using electronic systems such as the internet.
Exports: goods shipped to another country for import in exchange for 
money, other goods, or jobs.
Finding: materials other than face fabric used to construct garments; 
interlining, pocket bags, linings, closures, and trims.
Firm: any for-profit business, corporation, proprietorship, or partnership.
Full-package factory or vendor: apparel production firms that not only 
provide production services but also assist with and finance material 
sourcing and some phases of product development.
Garments: a piece of clothing
GDP per capita (PPP): abbreviation for gross domestic product per capita 
adjusted by purchasing power parity.
Global Trade: interactive participation of many groups, cultures, and 
nations in the merchandising, design, development, production and 
distribution of products and services.
Globalization: process whereby the worlds people, their firms, and their 
countries become increasingly interconnected in all facets of their lives.
Gross Domestic Product (GDP): market value of the output of products 
and services produced within a country in a year.
Gross domestic product (GDP) per capita: gross domestic product (GDP)
of a country didived by the number of people in the population after GDP has
been adjusted by purchasing power parity (PPP); hereafter referred to as GDP
per capita (PPP)
Gross National Product (GNP): value of the average output produced by 
domestic residents of a nation as they labor within that nation.
background image Gross national product (GNP) per capita: gross national product of a 
country divided by the number of people in the population.
Horizontal Integration: when previously competitive enterprises engaged 
in offering similar goods or services join together under a single 
management organization.
Import and Export trading: recently developed type of enterprise that 
assists textile and apparel firms in satisfying customer demand for goods and
services from the global market.
Imports: goods available for domestic consumption or materials available 
for domestic production because of exports of other countries.
International trade: and exchange of goods involving two or more 
countries.
Lean Retailing: effective management of inventory, based on accurate and
timely information and frequent resupply.
Market Week:  calendar time set aside for trade shows featuring 
manufacturers and brand managers lines of textile material, apparel, or 
machinery, presented at wholesale to other manufacturers or retail buyers
Mass Retailer:  firm that offers a wide variety of consumer goods in a self-
service environment with broad appeal across income ranges, ethnic groups, 
occupations and lifestyles
Merger: combining two business entities into one larger business
Newly Developing Country: nation whose gross domestic product per 
capita and other measures of well-being fall well below the world average; 
just beginning to be engaged in industrial development, likely to involve 
apparel production, some sources use term “least developed country”
Nonstore retailer: firm that sells goods to the ultimate consumer without 
use of tradition “brick-and-mortar” store presentation.
Origin-conferring operations: processes that determine what a label on a 
product will state as country of origin.
Outsourcing: contracting out specific operations outside the company to a 
domestic or foreign vendor with the goal to perform these operations more 
efficiently and/or at a lower cost; outsourced operations might include 
manufacturing product development, logistics, IT, accounting, customer 
service, etc.
Outward Processing: temporary exporting of goods for manufacturing 
processes or repair purposes; the goods are then re-imported back into the 
country with partial or total exemption from import duty or taxes; primarily 
used in European union.
Per Capita: by or for each individual; total is divided by the number of 
individuals involved and all share equally.
background image Per Capita Purchasing Power Parity: measure that allows comparison of 
well-being among populations in different countries, as indicated by GDP; 
determined by adjusting GDP of a country by the buying power of currency 
using the consumer price index and dividing the total by the number of 
people in the population
Politics: methods or tactics involved in managing an organization, business,
state or government, often in a pursuit of self interest sometimes includes 
crafty or unprincipled methods or both
Product Development: design and engineering of products to be 
serviceable, producible, salable, and profitable 
Purchasing Power Parity (PPP):measure that allows comparison of well-
being among populations in different countries, as indicated by GDP; 
determined by adjusting GDP of a country by the buying power of its 
currency using consumer price index
Quota: method used to restrict quantities of certain types of goods that can 
be imported or exported; limit on the quantity of products allowed to enter or
exit a country
Retail Product developer: individual or team that creates product designs 
and develops merchandise plans and specifications for a retailers private 
brands, which are ultimately sourced from production vendors
Retailing: sale of merchandise or services or both to ultimate consumers
Soft Goods: products made of textiles or other flexible materials fabrics, 
apparel, linens, towels, upholstery, and small fashion accessories
Sourcing:  process of finding, evaluating and partnering with a vendor to 
secure services, materials, production, or finished goods, or a combination of
these at a specified cost, quality and service level for delivery within an 
identified time frame
Specialty Retailer: retailers that focus on specific classes of merchandise 
to the exclusion of other products
Supply Chain: total sequence of business processes involving single or 
multiple companies and countries that enables demand for products or 
services to be satisfied; an apparel supply chain might include some or all of 
the following: design and product development agencies, material suppliers, 
manufacturers, transporters, warehouses, retailers and consumers
Sustainability: involves the corporate, government and consumer 
economic, political, environmental, and cultural dimensions to promote 
cooperation and solidarity among people and generations
Takeover: absorption of a weaker firm into a more successful operation
Textile Complex: combination of textile-related industries that supply soft 
goods to the world population; includes firms engaged in man-made fiber 
background image production, textile manufacturing (knit, women, and nonwoven fabrics), 
apparel manufacturing
Textile Industry: combination of trades and business that contribute to 
production, manufacturing and retailing of fibers, yarns, fabrics, and related 
materials
Textile Materials Sourcing: identifying appropriate countries of origin and 
vendors of fabric, thread or findings at a specifies quantity, quality and 
service level for delivery within a designated
Trade: exchange of goods, services, or both can be domestic, international, 
or global.
Trade agreement:  means of encouraging regulating or restricting 
elements of trade among countries
Trade balance: quantitative relationship between exports and imports of a 
country
Trade Barriers: means of regulating or restricting trade; examples include 
state trading, tarriffs, quotas and limits on foreign investments
Trade deficit: negative trade balance; value of imports exceeds value of 
exports
Trade Surplus: positive trade balance; value of exports exceeds value of 
imports
Vertical Integration: combining firms that perform different stages of the 
manufacturing and/or retailing of similar and/or compatible types of products
Wearing Apparel: garments that adorn the human body for comfort, 
protection, and adornment
World Trade Organization (WTO): an institution with more than 160 
countries as members; deals with the global rules of trade among nations
CHAPTER 2:
Acquisition: 
the act of making products available for personal use; 
increases inventory of goods available for consumption
Active Inventory: garments used within a one-year period
Basic Goods:  goods that are standardized and utilitarian, with infrequent 
demand for changes in styling
Buying Power: see purchasing power
Clothing Renovation: brushing, laundering, dry cleaning, ironing, and any 
other method used to restore garments to what is regarded as wearable 
condition after wearing
Clothing Standards: criteria determining styles, sizes and colors of 
garments regarded as suitable for specific occasions

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School: Kent State University
Department: OTHER
Course: Textiles and Apparel in the Global Economy
Professor: William Perrine
Term: Fall 2017
Tags: apparel
Name: Final Exam
Description: Final Exam Study Guide
Uploaded: 11/28/2017
21 Pages 88 Views 70 Unlocks
  • Better Grades Guarantee
  • 24/7 Homework help
  • Notes, Study Guides, Flashcards + More!
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