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Fashion Logistics and Supply Chain
25
Flashcards
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Supplier Relationship Management
Importance: Solid relationships can secure better prices and quality. Challenges: Geographical distance, cultural differences, and communication barriers.
Global Sourcing
Importance: Access to a wider range of products and cost savings. Challenges: Managing long lead times and ensuring ethical practices.
Trend Forecasting
Importance: Allows for accurate planning and reduced waste. Challenges: Rapidly changing trends and consumer behavior can lead to overproduction or stock-outs.
Demand Planning
Importance: Minimizes costs and maximizes sales potential. Challenges: Accurate forecasting is difficult due to fashion's volatile nature.
Performance Monitoring
Importance: Ensures that logistics operations meet KPIs. Challenges: Collecting and analyzing data across a widespread supply chain.
E-commerce Fulfillment
Importance: Direct-to-consumer sales require a robust fulfillment system. Challenges: High volume of orders and returns to process.
Returns Management
Importance: Effective returns process can enhance customer satisfaction. Challenges: High return rates in fashion can lead to increased costs and inventory issues.
Risk Management in Supply Chain
Importance: Minimizes disruptions and financial loss. Challenges: Predicting and preparing for unforeseen events is inherently difficult.
Inventory Management
Importance: Ensures product availability and optimizes storage costs. Challenges: Fluctuating demand and seasonal nature of fashion make it difficult.
Ethical Sourcing
Importance: Builds brand reputation and consumer trust. Challenges: Higher costs and complex supply chain auditing.
Product Lifecycle Management
Importance: Manages a product from design to discontinuation. Challenges: Requires coordination between multiple departments and stages.
Last-Mile Delivery
Importance: Last-mile delivery directly impacts customer experience. Challenges: Urban congestion and delivery speed are significant hurdles.
Omni-Channel Logistics
Importance: Offers a seamless shopping experience across channels. Challenges: Integrating online and offline systems can be complex and costly.
Lean Logistics
Importance: Focuses on eliminating waste to improve efficiency. Challenges: Requires cultural change and continuous improvement mindset.
Packaging
Importance: Protects goods during transit and influences brand perception. Challenges: Finding the balance between sustainability, cost, and aesthetics.
Sustainable Logistics
Importance: Reduces environmental impact. Challenges: Implementing green practices can be costly and logistically complex.
Quality Control
Importance: Ensures products meet brand standards. Challenges: Consistent quality can be hard to maintain across a dispersed supply chain.
Procurement
Importance: Ensures raw materials and goods are purchased at the best cost. Challenges: Risk of supply chain disruptions and quality control.
Order Processing
Importance: Speed and accuracy are key for customer retention. Challenges: Manual processing is error-prone and inefficient.
Transportation
Importance: Timely delivery is crucial for customer satisfaction. Challenges: Cost fluctuations, customs regulations, and potential for goods damage.
Warehousing
Importance: Efficient warehousing reduces lead times and costs. Challenges: Space constraints and the need for advanced warehousing technologies.
Customization and On-Demand Production
Importance: Provides consumers with personalized products. Challenges: Complex logistics and longer lead times.
Cross-Border Logistics
Importance: Necessary for international sales and sourcing. Challenges: Complex documentation, compliance with trade agreements, and variable transit times.
Technology Integration
Importance: Increases efficiency and accuracy. Challenges: High initial investment and ensuring all systems are interoperable.
Outsourcing Logistics Services
Importance: Can lead to cost reduction and efficiency gains. Challenges: Potential loss of control and dependence on third-party service providers.
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