30 Questions
What is one of the drawbacks of fast fashion?
The increase of unwanted clothing ending up in landfill
What does the first six digits of the Uniform Product Code typically start with?
0 followed by the five-digit code of the manufacturer
What is the term for the movement of production closer to the consumer?
Near-shoring
What word is missing from the following statement: Brands are seeking supply chain solutions that enable them to get the ____ product, to the ____ consumer, at the ____ time?
new, new, right
What is the term for when companies send their production to factories in countries or locations outside of the company's home country?
Offshore manufacturing
What was a factor in selecting factories prior to the phaseout of the Multi Fibre Agreement (MFA)?
The factory had the capacity to produce
What is the weakest point in a supply chain?
The weakest link
Who typically occupies the top position in a multinational publicly traded company's organizational chart?
The CEO
What is not a key function of a finance department?
To set marketing strategies
What does it mean to 'carry your own paper'?
You are financially sound
What is a primary goal of a good marketing department?
To build relationships with customers
What is not a function of trend forecasting?
To set financial budgets
Why are Airbnb, Uber, and Hamilton considered industry disrupters?
Because they fundamentally challenge traditional engagement and/or purchasing habits of consumers
What type of business model is the sharing economy considered to be?
Peer-to-peer business model
What is open-to-buy?
The budgeted amount of merchandise allocated for a particular store or category of goods
What type of services do Trunk Club, Stitch Fix, and Birchbox offer?
Subscription services
What is not associated with m-commerce?
Transactions that only occur with a computer or laptop
What is layering of materials to create design forms?
Not mentioned in the text
Which of the following is an example of discrete data?
The number of dresses produced
What type of data is 'The color of a dress' an example of?
Attribute data
What do Six Sigma, TQM, and ISO 9000 relate to?
Process improvement
What is retail shrinkage primarily associated with?
Markdown of items due to reduced sales
What is another term for a focus on the reduction of waste?
Muda
What is collateral in the context of lending?
A secondary means of repayment
What type of retailer develops and directly controls its own product programs?
Private Labels
What does the fourth digit in the NAICS code relate to?
Subsector
Which retailer is an example of an off-price retailer?
TJX
What is the main focus of a discount store?
Price
Which retailer does Hudson Bay Company (HBC) own?
Lord & Taylor
What is an attitude and behavior of the Millennial generation?
I prefer in-store shopping over online shopping.
Test your knowledge of the fashion industry, including consumer options, design, sustainability, and retail concepts. Explore topics like production, distribution, and marketing in the fashion world.
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