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global final

Terms in this set (63)

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
contractor
firm that provides services for other businesses, often used for selected apparel manufacturing processes; in todays sourcing language these firms are called vendors
gross domestic product (GDP) per capita
gross domestic product (GDP) of a country divided by the number of people in the population after GDP has been adjusted by purchasing power parity ; hereafter referred to as GDP per capita
newly developing country
nation whose domestic product per capita and other measures of well0beling fall well below the world average, just beginning to be engaged in industrial development, likely to involve apparel production; some source use term "least developed country"
purchasing power parity (PPP)
measure 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
sustainablility
involves the corporate, government, and consumer responsibility ro integrate economic, p0olitical, environmental, and cultural dimensions to promote cooperation and solidarity among people and generations
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, tariffs, quotas, and limits on foreign investment
trade deficit
negative trade balance, value of imports exceeds value of exports
trade surplus
positive trade balance, value of exports exceeds value or imports
elastic demand
when income increases consumer demand decreases, when income decreases consumer demand increases, product with elastic demand are called normal goods
textile product mill
a manufacturing facility that produces fabric and uses it to create consumable goods, including carpets, rugs, curtains, draperies, and bed and bath products
NACIS; North American Industry Classification System
a standardized system for collecting, analyzing, and publishing statistical data involving trade among Canada, Mexico, and the United States, NAICS data includes textiles and apparel and many other products
poverty
a lack of enough income or resources, or both, to satisfy minimum needs
converter
fabric mill that specializes in application of yarn and fabric finishes
country of origin (COO)
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 product designation number, according to the Harmonized Commodity Code and Designation System (HS)
gross domestic product (GDP)
market value of the output of products and services produced with in a country in a year
office of textiles and apparel (OTEXA)
a division of US department of commerce that monitors textile trade throughout the globe in terms or both quantity and value
fair labor association (FLA)
a coalition of companies, universities, and nongovernmental organizations dedicated to improving labor conditions around the world
gross national product (GNP)
value of the average output produced by domestic residents of a nation as they labor within that nations
fair trade
a trading partnership, based on dialogue, transparency, and respect, the contributes to sustainable development by supporting trading conditions that secure the rights of marginalized producers and works
gray (grey) market goods
original goods, they are not knockoffs, that are sold by unauthorized vendors
higg index
an indicator-based tool for footwear and apparel that enables companies to evaluate material types, products, facilities, and processes based on a range of environmental and product design choices
countervailing duty
a special tax that increases the price of goods to a competitive level; used against illegal trade activities such as subsidies or dumping
consolidator
a person or firm that combines cargo from a number of shippers going to the same destination into one container for the purpose of reducing shipping rates
copyright
a legal right gained by an author, composer, playwright, publisher, or distributor to exclusive publication, production , sale, or distribution of a literary, musical, dramatic, or artistic work
cost, insurance, freight (CIF)
reflects the cost of goods as well as shipping and insurance to the requested port
dumping
selling a product in another country at less than it is sold in the home country or less than it costs to produce
duty
tax payment on imported or exported goods, usually based on a tariff schedule
free on board (FOB)
reflects the cost of goods and the cost of loading them onboard a vessel at the foreign port of export
export processing zone (EPZ)
tariff- free trade zone that is set up by governments in developing countries to promote export through simplified import and export procedures
import agent
or agent, is a professional who assists a business in a foreign country and acts as intermediary between the customer and the vendor; is paid on a commission basis by the company they represent
intellectual property (IP)
copyrights, trademarks, patents, trade secrets, and semiconductor chips, inventions or other discoveries that have been registered with government authorities for the sale and use by their owner
infrastructure
fundamental physical and organizational facilities and systems needed for operations of a country, city, or area; includes transportation and communication systems and power supply
licensee
the buyer of the right to merchandising property
licenser
the owner of a merchandising property
landed duty paid (LDP)
covers the costs of goods, insurance, freight, and import duty in the destination country
trademark
a word. Phrase, logo, or other graphic symbol used to distinguish one firms products or services from those of other firms
charge-back
a financial penalty imposed by the customer on a vendor for noncompliance with established vendor compliance rules
product lifestyle management (PLM)
the process of managing a products lifecycle form inception, design, development of related materials, manufacturing, delivery, distribution, marketing, sale, and in some cases, service and disposal
ad valorem tariff
a tax set as a fixed percent of the value of an imported product
lobbyists
paid professional who communicate the political positions defined by their employers and try to influence formation or administration of legislation
product sample
garments made at the factory where the order will be mass produced to check for quality and any potential production issues, typically produced in all ordered sizes
transaction value
the price actually paid or payable for goods when sold for export
voluntary export restraint
a self-imposed limit on the amount of product that one country can export to another country, also known as export tariff restraint agreement
omnichannel retailing
(omni-channel), a multichannel approach to sales that seeks to provide a seamless shopping experience to customers whether they are shopping online from a desktop or mobile device, by telephone, or in a brick-and-mortar store
well-being
a good or satisfactory condition of existence, a state of being comfortable, healthy, and happy
level of consumption
the quantity and quality of goods and services that are available to be used by an individual or group during a given time period
square meter equivalent (SME)
a means of measuring quantities of fabric and garments that are being exported or imported
cut-make-trim (CMT) factory or vendor
apparel contractors that commonly provide apparel assembly as their primary service
apparel manufacturing
processes involving division of labor for designing, merchandising, developing, producing, and often wholesale marketing garments and/ or other attribute that adorn the human body
cut-and-sew manufacturing
a cut and sew apparel production that performs both preproduction and production processes
harmonized system (HS)
the international Harmonized commodity description and classification system, developed by the World Customs Organization
item 807
a ruling that allowed garments cut in the United States to be exported and assembled in Caribbean countries and then imported with tariff based only on value added
worldwide responsible accredited production (WRAP)
an independent nonprofit corporation dedicated to the promotion and certification of lawful, humane, and ethical manufacturing throughout the world
european commission
a politically independent institution responsible for proposing EU legislation, implementing it, and monitoring compliance
developing country
nation whose gross domestic product per capita and other measures of well-being fall near or slightly below the world average
developed country
nation whose gross domestic product per capita and other measures of well-being fall well above the world average
association of southeast asian nation (ASEAN)
established to enhance the trade options for its ten member countries with a goal of establishing an ASEAN economic community
African growth and opportunity act (AGOA)
a component of the US trade and development act of 2000; the purpose is to assist Sub-Saharan (SSA) countries in achieving economic self-reliance, was renewed in June 2015 until the end of 2025
international monetary fund (IMF)
works in tandem with the World Bank, helps integrate countries in to the global economy by assisting member countries, monitors international currency transactions
MERCOSUR
common market of the south, 1991, free trade within, and a common external tariff for, argentina, brazil, Paraguay, Uruguay, and Venezuela, accounts for 70% of south Americas total economy
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