The four components of the concept of fast fashion

Its goal is to quickly produce an item that is both cost-efficient and responds to fast-shifting consumer demands. The assumption is that consumers want a high-fashion styled article of clothing at a low price. Fast fashion follows the concept of category management, which more closely links the manufacturer with the consumer in a mutually beneficial relationship. The speed at which fast fashion happens requires such a collaboration, as the need to refine and accelerate supply chain processes is paramount.

The four components of the concept of fast fashion

The company uses the stores themselves as its main promotional strategy, to convey its image. Zara tries to locate its stores in prime commercial areas. Deep inside the lairs of its corporate headquarters, 25 full-scale store windows are set up, whereby Zara window designers can experiment with design layouts and lighting.

Fashion retailers have to adapt to what the marketplace wants for the here and now. The company is guilty of under-stocking garments, as it does not want to be left with obsolete or out-of-fashion items.

The key driving force behind its success is to minimize inventory levels, getting product out on to the retail floor space, and by being responsive to the needs of the market. Zara uses its stores to find out what consumers really want, designs are selling, what colours are in demand, which items are hot sellers and which are complete flops.

It uses a sophisticated marketing information system to provide feedback to headquarters and allow it to respond to what the marketplace wants.

Similarly, Mango uses a computerized logistical system that allows the matching of clothes designs to particular stores based on personality traits and even climate variances i. This sophisticated IT infrastructure allows for more responsive market-led retailing, matching suitable clothing lines to compatible stores.

At the end of each day, Zara sales assistants report to the store manager using wireless headsets, to communicate inventory levels. Both hard sales data and soft data i.

Designers work hand in hand with market analyst, in cross-functional teams, to pick up on the latest trends.

BREAKING DOWN 'Fast Fashion'

Garments are produced in comparatively small production runs, so as not to be over-exposed if a particular item is a very poor seller. If a product is a poor seller, it is removed after as little as two weeks.

Roughly 10 per cent of stock falls into this unsold category, in direct contrast to industry norms of between 17 and 20 per cent. Zara produces nearly 11, designs a year. Stock items are seen as assets that are extremely perishable and, if they are sitting on shelves or racks in a warehouse, they are simply not making money for the organization.

In the course of one year alone, Zara has been able to launch 24 different collections into its network of stores. After designs have been approved, fabrics are dyed and cut by highly automated production lines.

These pre-cut pieces are then sent out of nearly workshops in northern Spain and Portugal. Seamstresses stitch the pre-cut pieces into garments using easy-to-follow instructions supplied by Zara. Furthermore, the proximity of these workshops allows for greater flexibility and control, Zara achieves greater control over its supply chain through having a high degree of integration within the supply chain.

By owning suppliers, Zara has greater control production capacities, quality and scheduling. This is in stark contrast to Benetton, which is close to being a virtual organization, outsourcing production to third-party suppliers and directly owning only a handful of its stores, the majority being franchises or partner stores.

Here they are electronically tagged, quality control double-checks them, and then they are sorted into distribution lots, ensuring the items arrive at their ultimate destinations. Each item is tagged with pricing information. Zara believes each national market has its own particular nuances, such as higher salaries or higher taxation, therefore it has to adjust the price of each garment to make it suitable in each country and to reflect these differences.

As a result of Zara utilizing this ultra-responsive supply chain, 85 per cent of its entire product range obtains full ticket price, whereas the industry norm is between 60 and 70 per cent.

Clothes shoppers are seeking out the latest fashions at value-for-money prices in enticing store environments. Now other well-established high-street fashion retailers have to adapt to these challenges, by being more responsive, cost efficient, speedy and flexible in their operations.

The rag trade is churning out the latest value-for-money fashions at breakneck speed. Discuss how supply chain management can contribute to the marketing success of these retailers. Discuss the central components necessary for the fast fashion concept to work effectively.The concept of functions of management was put forth by Henri Fayol, a management theorist from France, influential in proposing many of the management concepts in use today.

Originally, he had proposed five management functions; namely, planning, . Investigaciones Geográficas, Boletín del Instituto de Geografía, UNAM IN n di i Global production chains in the fast fashion sector, transports and logistics: the .

DEFINITION of 'Fast Fashion'

Fast fashion is the concept where retailers adjust their business strategies to get the latest trends into the store in shortest possible way (Barnes & Lea- Greenwood, ). The International Review of Retail, Distribution and Consumer Research Vol. 20, No. 1, February , – Fast fashion: response to changes in the fashion industry Vertica Bhardwaj* and Ann Fairhurst Retail and Consumer Sciences, The University of Tennessee, Knoxville, USA (Received June ; final version received October .

McDonaldization is a term developed by sociologist George Ritzer in his book The McDonaldization of Society ().

The four components of the concept of fast fashion

For Ritzer McDonaldization becomes manifested when a society adopts the characteristics of a fast-food restaurant. McDonaldization is a reconceptualization of rationalization and scientific management.

The four components of the concept of fast fashion

Fast fashion is a contemporary term used by fashion retailers to express that designs move from catwalk quickly to capture current fashion trends. Fast fashion clothing collections are based on the most recent fashion trends presented at Fashion Week in both the spring and the autumn of every year.

Learn About Management Concepts and its Four Functions Right Here