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Core Concepts in Fashion

Core Concepts in Fashion. Chapter Eight. Chapter Eight. Sourcing To obtain part or all materials for a product in another country Production Facilities Wholly Owned A factory which is owned an operated by the retailer Joint Venture

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Core Concepts in Fashion

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  1. Core Concepts in Fashion Chapter Eight

  2. Chapter Eight • Sourcing • To obtain part or all materials for a product in another country • Production Facilities • Wholly Owned • A factory which is owned an operated by the retailer • Joint Venture • A retailer and a factory have a contract for clothing to be produced in the factory

  3. Chapter Eight • Intermediaries • A person who acts as a “go between” for factories and retailers • Sometimes called an agent • Broker • Brings buyers and sellers together-never actually sees the merchandise • Wholesaler • Takes possession of inventory and resells • Drop Shipper • Receive orders and works with manufactures to insure goods are delivered

  4. Chapter Eight • Customs inspections • Inspections which occur to every shipment of goods brought into a country • Quotas • A limit of specific goods which can be brought into a country • Tariffs • A tax which is charged on an imported good

  5. Chapter Eight • Protectionist Policies • A governmental policy designed to control or limit the number of goods which can be brought into a country • Embargo • An absolute ban on goods imported from a country • Normally occurs for political reasons

  6. Chapter Eight • Trade agreement • An agreement signed by two or more countries to limit tariffs and agree to work together to increase trade • Examples of Trade agreements • NAFTA • North American Free Trade Agreement • Reduces or eliminates tariffs charged on goods between Canada, Mexico and The United States

  7. Chapter Eight • Trade Agreements • CAFTA • Central American Free Trade Agreement • Modeled after NAFTA • Includes • Costa Rica • The Dominican Republic • El Salvador • Guatemala • Honduras • Nicaragua • United States • All trade barriers have not been eliminated, but meetings are occurring to reduce tariffs

  8. Chapter Eight • Trade Agreements • CTPA • Columbian Trade Partnership Agreement • Includes 24 South American Countries • EU • European Union • Allows not only free trade of goods, but also free flow of people • Currently, there are 24 European Countries, more every year

  9. Chapter Eight • Trade Agreements • APEC • Asian Pacific Economic Cooperation • Does not yet have any binding trade agreement • Goal is to increase trade among Asian countries with Western countries • United States is part of APEC

  10. Chapter Eight • Culture Differences when working overseas • Social Structure • The view of a families place in society • Language • Non-Verbal communication • Body language, how far is appropriate to stand from someone, etc. • Religion • Values and Attitudes • Related to age, status and position

  11. Chapter Eight • Contemporary issues in sourcing • Social responsibility • The idea that businesses should not faction amorally, but rather should contribute to the societies in which they operate • Child Labor • Wages and Working Conditions • Fair and livable wages • Dependence on Factory Jobs • If factory closes down in an developing country community, the entire town might be out of work • Natural Disasters

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