3.1 fashion management

Name: xxx

P Number: xxx

Module: FMAN3000 Fashion Buying Management Assessment Brief: The processes of the buying cycle Product: Cashmere Knit with Signature of Dior

Submission Date: 20 March 2023

Word Count: 4188

Figure 1: Image of “Knit with Signature of Dior” (Dior,2023)

Table of Contents

List of Figures............................................................................................ 4 1. Introduction .......................................................................................... 5 2. Strategy ................................................................................................. 5

2.1 Trend Inspiration ......................................................................... 5 2.1.1 Color Trend....................................................................... 6 2.1.2 Fabric Trend...................................................................... 6 2.1.3 Print & Graphics Trend ..................................................... 7 2.1.4 Style Trend........................................................................ 7

2.2 Customer Research ..................................................................... 7 2.2.1 Segmentation................................................................... 7 2.2.2 Customer Profile .............................................................. 8

2.3 Competitor Analysis.................................................................... 9 2.3.1 Product & Price ................................................................ 9 2.3.2 Websites........................................................................... 9

2.4 SWOT......................................................................................... 10 2.5 Sourcing Strategy ...................................................................... 10 3. Design Development........................................................................... 11 4. Range Build ......................................................................................... 13 4.1 What Makes a Successful Range Build Process? ....................... 13 4.2 Range Build Information ........................................................... 13 4.3 Cost Negotiation ....................................................................... 14

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5. Selection ............................................................................................. 15 6. Order Placement................................................................................. 16 7. Critical Path Management................................................................... 17

7.1 Critical Path ............................................................................... 18 7.2 Risks and Solutions.................................................................... 18 8. Production........................................................................................... 19 8.1 Production Process.................................................................... 19 8.2 CSR ............................................................................................ 20 9. Delivery ............................................................................................... 21 10. Launch............................................................................................... 22 10.1 Window Displays..................................................................... 23 10.2 Final Launch ............................................................................ 23 11. The Future of Fashion Retail and Sourcing........................................ 24 11.1 The Future of Fashion Retail ................................................... 24 11.2 The Future of Sourcing............................................................ 24 12. Conclusion and Recommendations................................................... 25 13. Reflection .......................................................................................... 26 14. References......................................................................................... 28 15. Image References.............................................................................. 30 16. Appendix ........................................................................................... 32 17. Self – Assessment Form .................................................................... 35

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List of Figures

FIGURE 1: IMAGE OF “KNIT WITH SIGNATURE OF DIOR” (DIOR,2023)........................................ 1 FIGURE 2: IMAGE OF BUYING CYCLE (AUTHOR’S OWN WORK, 2023)......................................... 5 FIGURE 3: PREDICTED KEY COLOURS FOR S/S 23 (WGSN, 2021)................................................. 6 FIGURE 4: PREDICTED WOMEN'S PRINT & GRAPHICS FOR S/S 23 (WGSN, 2022)........................ 7 FIGURE 5: DIOR AUDIENCE DEMOGRAPHICS (SIMILARWEB, 2023) ............................................ 8 FIGURE 6: DIOR’S CUSTOMER PROFILE (AUTHOR’S OWN WORK, 2023)..................................... 8 FIGURE 7: DIOR COMPETITORS’ INFORMATION (AUTHOR’S OWN WORK, 2023)........................ 9 FIGURE 8: SWOT FOR DIOR (AUTHOR’S OWN WORK, 2023) .................................................... 10 FIGURE 9: IMAGE OF AN INITIAL SKETCH (BEHANCE, 2011) ..................................................... 12 FIGURE 10: SPECIFICATION SHEET EXAMPLE (ROCHELLE, 2022) ............................................... 12 FIGURE 11: AN EXAMPLE OF DIOR KNITWEAR RANGE (AUTHOR’S OWN WORK, 2023)............ 14 FIGURE 12: AN EXAMPLE OF PO FORM (BUSINESS, 2017)........................................................ 17 FIGURE 13: DIOR’S CRITICAL PATH EXAMPLE (AUTHOR’S OWN WORK, 2023) .......................... 18 FIGURE 14: CRITICAL PATH RISKS & SOLUTIONS (AUTHOR’S OWN WORK, 2023)...................... 19 FIGURE 15: FASHION TRANSPARENCY INDEX 2022 (FASHION REVOLUTION, 2022)................... 21

FIGURE 16: ADVANTAGE AND DISADVANTAGE OF DIFFERENT TRANSPORTATION METHODS (AUTHOR’S OWN WORK, 2023)..................................................................................... 22

FIGURE 17: IMAGES FOR DIOR WINDOW DISPLAY (BEHANCE, 2022)........................................ 23

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1. Introduction

To ensure the products are planned, designed, sourced, and manufactured effectively to satisfy the demand of their target customers, fashion retailers need to follow the buying cycle. Figure 2 illustrates the 9 stages of the buying cycle. This report will present how Dior brings knitwear to the shop based on these 9 stages. Finally, it will give an insight into the future of fashion retailing and sourcing by analysing the changes that are likely to take place over the next 3 years and beyond.

Figure 2: Image of buying cycle (Author’s own work, 2023)

2. Strategy

2.1 Trend Inspiration

In the background of the big data era, trend forecasting is essential for fashion industries. Making more accurate predictions on the fashion elements will help fashion industries to better design products. At the same time, trend forecasting will also directly guide consumers’ demand. By translating trends in clothing forecasting into trends in consumers’ behaviour, then stimulating consumers’ demand for clothing.

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2.1.1 Color Trend

WGSN has predicted the key colours for S/S 2023 (Figure 3). At the same time, WGSN (2022) demonstrates that shades of black are still making up the largest portion of the new-ins colour mix for S/S 22 retail. Most of the colours in Dior S/S 2023 were the black and white. Although the black and white are popular among a wide range of customers,

Dior needs to consider adding a wider variety of colours to create an emotional connection with the customers.

Figure 3: Predicted key colours for S/S 23 (WGSN, 2021)

2.1.2 Fabric Trend

Sustainability has always been a hot topic in the fashion industry. However, the garment industry has been criticized for its carbon footprint and the pollution of water resources in the sustainability issue. In UK, fashion is one of the biggest offenders when it comes to greenwashing (BOF, 2023). Therefore, eco-friendly fabrics are going to be the trend. Luxury leaders like Dior could play a leading role in replacing existing clothing fabrics with eco-friendly alternatives.

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2.1.3 Print & Graphics Trend

According to WGSN (2022), holiday-ready, feelgood prints, painterly florals and technical dyes will be the trend. Graphics like scenic walks, bohemian sunset, ornate garden, graphic monochrome and painterly florals are increasingly popular in the market (Figure 4). Dior S/S 2023 perfectly illustrated its traditional courtly style and displayed the ornate garden well.

Figure 4: Predicted women's print & graphics for S/S 23 (WGSN, 2022)

2.1.4 Style Trend

The outfits with ballet-inspired details will be the one of the key trends of 2023 (Weston, 2023). The ruffle details on the sleeves of this Dior knit highlight the balletic trend.

2.2 Customer Research

2.2.1 Segmentation

By identifying the shared traits of the target audience, market segmentation helps brandsincreasing the effectiveness of their marketing efforts. Figure 5 shows that over half of Dior's target audience are female, and the biggest customer groups are between the ages of 25-34, which is followed by 18-24. In addition, the average annual

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income of Dior customers is approximately $106,000 (Statista, 2020). From this, it can be seen that the target market for Dior is typically high-income young women. Dior needs to consider expanding its appeal to male consumers and increase its advertising campaigns for men.

Figure 5: Dior audience demographics (Similarweb, 2023)

2.2.2 Customer Profile

A customer profile is a detailed account of the traits, preferences, and behaviours of a particular client base. Businesses can better understand their consumers' requirements, interests, and habits by creating customer profiles. Figure 6: Dior’s customer profile (Author’s own work, 2023)

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2.3 Competitor Analysis

2.3.1 Product & Price

Figure 7: Dior competitors’ information (Author’s own work, 2023)

Dior's competitors have produced similar knitted short sleeves. Figure 7 reveals that Balmain produced the cheapest product at £1250, followed by Louis Vuitton and Prada, and Dior had the highest price, due to the material used by Balmain was viscose fibres, while the material in the other three brands was cashmere, which was more costly. However, Dior offered a larger selection of sizes and 2 colour options. If Dior can appropriately control the cost of its products, it will be more competitive in the market.

2.3.2 Websites

Compared to its competitors, the Dior website offers more detailed categories for customers (Appendix 1). A combination of both moving and still images is used on the product detail pages in order to display products better, while the competitors have not considered. In addition, Dior recommends relevant combinations based on the products, which stimulates consumer spending (Appendix 2). However, Dior could

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learn from Balmain in terms of size recommendations. Balmain can recommend relevant sizes for customers based on their input of another brand's size, which brings convenience to customers (Appendix 3).

2.4 SWOT

Strengths ● Detailed categories of the website ● Online product detail display using a combination of moving and still images ● Wide range of size options	Weaknesses ● High price compared to competitors ● Few colours of products
Opportunities ● Creating emotional connections with customers using product colours ● Eco-friendly fabrics	Threats ● Economic depression ● Cost-of-living crisis

Figure 8: SWOT for Dior (Author’s own work, 2023)

2.5 Sourcing Strategy

In the global luxury industry, 'Made in Italy' has been synonymous with quality craftsmanship for a long time, so Italy has attracted many luxury brands from all over the world to produce products here. Dior not only has its own factories in Italy, but also cooperates with manufacturers in Italy, which provides Dior with the expertise to keep their products at a high standard.

It takes around 3-7 days to transport products from Italy to the UK. In terms of the shipping costs, they are not too high, as the two countries are relatively close. However, the manufacturing costs in Europe are higher compared to manufacturing in Southeast Asia, as the buyers have to pay for higher labour costs in Europe. Dior could consider

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optimising the automated systems in its own factories or collaborating with highly automated factories, which could save on labour costs.

This Dior cashmere knit is made from 100% cashmere, which is highly demanding in terms of the quantity and the quality of the cashmere, so Dior's relationship with its cashmere suppliers must be solid to maintain the high quality and the suitable price of the raw material. Dior should look for more than one supplier of cashmere, which would mitigate the risk of cashmere shortages. Moreover, buyers have to monitor the duties, taxes and transport costs to ensure that their production is profitable.

3. Design Development

When designing new products, in order to gain a better understanding of the market, designers usually attend fashion shows to get ideas for the new season. Also, they will visit competitors' shops to learn about fabrics, colours, styles and other relevant information to compare the strengths and weaknesses of their products in order to define the positioning of their brands in the market. Therefore, designers need to have a high level of aesthetic perception so that they can understand the real needs of consumers.

Once the designer has a design idea, he will create an initial sketch based on the fashion factors and the buyer's design requirements (Figure 9). The initial sketch is a record of the designer's thinking in the quickest and most convenient form. Once the initial sketch is completed, it is handed over to the buyer and if the buyer is satisfied with the design, the process can move on to the next step.

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Figure 9: Image of an initial sketch (Behance, 2011)

The designer then creates a specification sheet, which includes more details about the product: fabrics, colours, sizes and so on (Figure 10). After that, the buyer sends the specification sheet to the factory for product development. The factory then produces a sample and sends it to the buyer. If it meets the buyer's requirements and the price is workable, a business case is raised for the supplier to be signed off.

Figure 10: Specification sheet example (Rochelle, 2022)

As soon as it has been signed off, the factory is often launched gradually to reduce any

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risk to sales. To ensure compliance, the sourcing team needs to conduct unannounced factory inspections frequently. In addition, to ensure a successful design development process, the design team, the buyer and the factory should be in close contact, guaranteeing that the factory can communicate with the design team and the buyer if they have any questions about the details of the product.

4. Range Build

A range plan is a representation of the collection in visual form, which involves mixing multiple items (Coates, 2022). The range plan can be described as a strategy for the next season, which is based on a mix of best sellers and newness. This stage is crucial as it directly affects sales for the following seasons and if not handled effectively, it will

lead to a decline in profits.

4.1 What Makes a Successful Range Build Process? The success of range build is based on effective cooperation between designers, buyers and merchandisers. The merchandisers need to summarise the best sellers and the worst sellers based on the previous season’ssales and plan the number of products to be released in each category for the next season. In addition, buyers need to visit competitors' shops to find out about prices, fabrics, colours, styles and pricing strategies, in order to compare the strengths and weaknesses of these and to define the brand's positioning for the next season. Designers need to consider current trends and innovate new products to attract new customers. The ruffle details on the sleeves of this Dior knit highlight the balletic trend of 2023. Eventually, it is important to balance the number of best-selling products with the number of new products to be released, as an incorrect ratio will lead to a risk of stock build-up.

4.2 Range Build Information

Figure 11 presents the range build of Dior knitwear, which contains style name, fabric

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colour, season, store grade, selling price, sizes and country of origin. As can be seen from the figure, the price of Dior knitwear ranges from 880 pounds to 2500 pounds, which satisfies the needs of different consumer groups. In addition, the beige plain long-sleeved knitwear is a basic piece that suits the basic needs of the most customers, so it can be ordered in large quantities. In contrast, the short-sleeved knitwear bears a sales risk as the product has a temperature requirement for the environment and would not be practical to wear in cold weather, so the quantity ordered needs to be controlled.

Figure 11: An example of Dior Knitwear range (Author’s own work, 2023)

4.3 Cost Negotiation

Negotiation is the process of finding a mutually satisfactory solution (Dhir, 2021).

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Range build involves the pricing of items, which depends to a large extent on the cost of production, so cost negotiation between buyers and suppliers directly affects the pricing of items. Luxury brands rarely design their own fabrics, but they can request dyes from suppliers (Yu, 2019). The price per metre of fabric tends to fall as the quantity purchased increases, so this is something that buyers need to consider in their cost negotiation. Also, the cost of different lead time and lead methods varies. Dior, as a luxury brand, is expected to use quality fabrics to provide a better experience for its customers, so the cost of fabrics is much higher compared to mass brands. However, the cost could be reduced in terms of lead methods and lead time, choosing ship or truck instead of air freight and choosing long lead time instead of short lead time is cheaper. All in all, it is essential to establish a solid relationship with the suppliers in order to obtain maximum discount.

5. Selection

Once the buyers and merchandisers have completed the range plan, they need to discuss the integrated information with the superior managers in the selection meeting. The information must be detailed so that the managers can easily discuss the details and determine the feasibility of the plan. To discuss the products, buyers are required to provide samples of each product they are planning to order, which are made from the design pack. The sample is the most visual way to get a feel for the product design, the quality of the fabric and the production craftsmanship. In addition, the cost can be accurately calculated based on the sample. Also, the sample is a representative of the factory, showing the capabilities of the factory. Therefore, it is important to provide a good sample. If the samples do not accurately represent what the buyer desires to purchase, other supporting materials must be shown to ensure that the managers are clear of what is to be ordered. In terms of discussing suppliers, they will discuss the potential of the chosen supplier by origin, capacity, sustainability, and so on. All in all, selection meeting is to ensure the quality of the products and the competitiveness in the market.

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The duties of the buyers and the merchandisers are complementary but differ from each other. Fundamentally, merchandising is the numerical process, which provides buyers with sales data for the previous season as well as trend analysis to support buyers in ordering stock. In contrast, buyers need to engage with industry professionals in order to provide more professional fashion information.

At the end, managers will carefully evaluate the plans provided by the buyers and the merchandisers, as this will directly affect the company's income for the next season. If the plan is not approved, the buyers and the merchandisers must analyse its weaknesses, and improve it before submitting it again. If the plan is approved, it proceeds to the order placement.

6. Order Placement

Once the managers have approved the range plan, the buyer needs to launch a purchase order for the products with the supplier. This is the process in which the buyer signs a contract with the supplier. If both parties accept the information in the purchase order, the agreement is legally binding. Therefore, the agreement must be accurate to avoid producing products that do not meet the buyer's requirements and thus delaying delivery times. It is also important for all parties to have a good understanding of any detail in the agreement to avoid costly conflicts.

Nowadays, to reduce the error and accelerate the order processing, the buyer sends an electronic PO (purchase order) form to its suppliers. The PO form (Figure 12) involves detailed negotiation terms between the buyer and the supplier, including information on the attributes of the goods, the price negotiated, key dates, delivery terms and any special instructions. The PO form is not only useful for the buyer to keep track of the goods, but also for the supplier as any disputes can be resolved through this agreement.

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Figure 12: An example of PO form (Business, 2017)

Despite the agreement being carefully signed by both parties, there are unexpected events. For example, if the factory runs out of raw materials, it will affect the length of product production time, which will lead to delays in lead times. In addition, an increase in the price of raw materials will increase the factory's costs and in severe cases lead to a loss of money. The buyer has to negotiate with the supplier to address these issues as it affects both parties' interests. If the buyer and the supplier have a strong relationship, the problem can be negotiated to minimise losses for both parties. In conclusion, it is important for the buyer to have a reliable cooperation with the supplier.

7. Critical Path Management

The critical path presents the timeline of each key step in the process from design development to delivery, such as lab dips, fit approvals, and seals, which helps buyers and managers to track the overall progress of product production. Each work in the critical path interacts with each other, so each one must be completed in time to

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ensure that the products are finally delivered in time. In addition, managers can anticipate potential delays and risks through the critical path in order to take measures to mitigate the risks.

7.1 Critical Path

A critical path table (Figure 13) is a chart that shows the duration of each activity for the manufacturing of products. By checking the critical path table, buyers and managers can determine the progress and calculate the float time for each activity in order to optimise schedule planning.

Figure 13: Dior’s critical path example (Author’s own work, 2023) 7.2 Risks and Solutions

Risks on the critical path can lead to delays or failure of the entire process. Figure 14 shows possible risks and the corresponding solutions.

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Figure 14: Critical path risks & solutions (Author’s own work, 2023)

In general, risks on the critical path need to be mitigated through proper planning, management and communication. Managers need to pay careful attention to the activities on the critical path and take measures to ensure they are completed in time.

8. Production

8.1 Production Process

The production process begins after the buyer hassigned the contract with the factory. Dior is supposed to offer high quality products to its customers. Therefore, quality assurance is essential for Dior to maintain its brand status. Specifically, fabric approval helps to ensure that the fabric used in the production meets the required quality standards. Also, it helps to ensure that the final product is of high quality and meets

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the expectations of the customers. Lab dip approval is also important before producing fabrics. The buyer and the manufacturer will evaluate the lab dip to ensure that the colour matches the standard. If the colour is not acceptable, adjustments can be made to the dye formula to achieve the desired result. Once the lab dip is approved, the manufacturer can proceed with dyeing the fabric in larger quantities.

Once the fabric, colour and other details have been approved, the factory will create sample fittings to evaluate the fit and the comfort of the garment, which are usually tested on models or mannequins. By approving the final sample before production begins, the manufacturer can identify and address any issues with the product design or quality. Once the final samples have been sealed, the manufacturer starts producing the garments and they will be shipped to the shops at the end.

8.2 CSR

Corporate social responsibility (CSR) is a self-regulatory strategy for corporate social responsibility (Fernando, 2022). It covers four aspects: economic, legal, ethical and philanthropic. Nowadays, consumers are increasingly aware of social responsibility, and they tend to be attracted to retailers that have value proposition. According to research, over half of the consumers would switch merchants or purchase a product from a socially conscious company if the price and quality were the same (Tai, 2014).

Therefore, businesses cannot only concentrate on profit, and CSR is an important way for companies to become more competitive.

Dior has made great efforts in sustainability, using innovative circularity and textile recycling to protect natural resources, and it received the Positive Luxury's Butterfly Mark certification (Appendix 4), which verified the validity of its sustainability plan (Dior, 2021). In terms of fashion transparency, figure 15 reveals that Dior ranked 88th in 2022, which was still at the low level despite an improvement compared to 2021. According to the scoring guide (Appendix 5), 28.5% indicates that Dior rarely exposed information about its supply chain. Research shows that around 1/3 of customers will be attracted to retailers who provide more information about their suppliers (Mintel,

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2022). Therefore, Dior needs to improve its fashion transparency to strengthen the relationship with consumers and increase the brand recognition and influence of the company.

Figure 15: Fashion transparency index 2022 (Fashion Revolution, 2022)

9. Delivery

Delivery refers to the act of transporting goods from the factory to the store. On-time delivery is a crucial step, as it has a significant impact on the stability and operational efficiency of the entire supply chain. If the factory does not deliver the goods on time, the retailer will not be able to sell the products as planned. However, there are uncontrollable factors, such as hurricanes and rainstorms, which may have an impact on the transport link in the supply chain, resulting in delayed deliveries or losses. In conclusion, in any situation, it is key for buyers to maintain close communication with the suppliers. It can be done through three ways of transportation: truck, sea, and air, depending on the size and distance of the delivery. Figure 16 shows the advantages and disadvantages of these three methods. As this Dior knitwear was produced in Italy, the option of trucking it to the UK took approximately 3-7 days.

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Figure 16: Advantage and disadvantage of different transportation methods (Author’s own work, 2023)

Once the products have been delivered to the warehouse, staff need to process the products for receipt, including confirming the quantity and quality of the goods. After receipt, the products are put into stock, which means that they are stored in the corresponding storage area. The next step is for the merchandiser to pick the products for distribution to the shops according to the launch date. During this process, the products in the warehouse are regularly checked to ensure the quality. There is also a need for Dior to manage stock appropriately to avoid problems such as stock build-up and expiry.

10. Launch

Before new products are launched, Dior needs to carry out adequate marketing strategies to ensure that the products are successful on the market when launched.

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10.1 Window Displays

A window display is an artistic form of product presentation. Through the artistic display of brand culture and product attributes, it enhances consumers' favorability towards the brand and their desire to buy the products. A window display is a great way to promote new products. More and more brands are installing large glass windows in their shops to extend the visual space and attract the attention of passers

by. To stand out among the major brands is something Dior needs to consider. Gen Z places a high value on experience (Mintel, 2019), so interactive window displays could attract more consumers and increase their engagement. For example, display games, interactive videos or VR experiences can be set up to engage consumers and enhance the interaction between the brand and the consumer, then attract them to buy in

store. In conclusion, window displays need to emphasise the features and benefits of the brand.

Figure 17: Images for Dior window display (Behance, 2022)

10.2 Final Launch

Dior puts the new products on sale on its website, in shops and other sales channels. At the same time, Dior's sales team provides customer service and support to ensure

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customer satisfaction and product sales. This process requires coordination and collaboration between several departments to ensure that the products are successfully brought to market and gain the trust and support of customers.

11. The Future of Fashion Retail and Sourcing 11.1 The Future of Fashion Retail

In recent years, due to the impact of the Covid-19, numerous brands have made a strong effort to develop their e-commerce sales and have achieved great success. However, with the constant changes in technology and consumer behaviour, online sales will be facing many challenges. It is anticipated that between 2022 and 2025, e

commerce sales would increase at a CAGR of 10 percent in America and 11 percent in Europe, a far slower rate than that between 2019 and 2020 (BOF, 2023). Therefore, fashion brands need to restructure their channel retailing strategies to remain competitive. Fashion brands should diversify their distribution channels, including DTC,

wholesale and third-party markets, especially considering collaborations with third party markets, which can allow brands to enter new markets and increase their exposure and popularity. During the next two years, distribution of luxury products through third-party models is expected to triple (BOF, 2023).

11.2 The Future of Sourcing

According to the research conducted in the UK, 25% of participants indicated sustainability was a factor in their purchasing decisions (BOF, 2023). It is evident that consumers are becoming increasingly aware of environmental protection. Therefore, fashion brands and retailers should place emphasis on the sustainability of their sourcing. They should provide valid data to demonstrate the efforts for the sustainability. Transparency in presenting the supply chain to consumers will help to increase consumers' trust of the brands. In addition, fashion brands and retailers should be more conscious of sourcing eco-friendly materials and choosing sustainable

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suppliers.

As technology continues to evolve, the sourcing process will become increasingly digital, from the selection of products to the processing of orders, as well as the communication and negotiation between buyers and suppliers, all of which will be done through online platforms. Digital procurement will speed up the sourcing process and increase efficiency and accuracy.

12. Conclusion and Recommendations The report critically analyses and evaluates the whole process of Dior bringing knitwear to the store around the 9 stages of the buying cycle. The author analyses Dior using primary and secondary research, and also analyses the future of fashion retailing and sourcing in the context of possible future changes. The whole buying cycle is complex and the key to success is the close communication and collaboration between designers, buyers, merchandisers and other staff involved. Buyers must follow the buying cycle and manage it carefully.

Finally, the following are recommendations for Dior：

● Collaborate with more third-party markets. Dior only works with third-party marketplaces to sell its products in some regions, such as e-commerce platforms like Tmall and Jingdong in China, but in other regions, it relies more on its own official website and retail shops to sell its products. Therefore, Dior is encouraged to consider cooperation with more third-party marketplaces in the future to bring the brand's products to a wider range of potential customers.

● Improve transparency of the supply chain. Dior needs to make more progress and efforts in terms of transparency and sustainability. By adopting a range of sustainability measures, such as promoting sustainable raw material sourcing, compliance audits and supplier training, to ensure the sustainability and social responsibility of its supply chain.

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13. Reflection

The author has gained a deeper understanding of the fashion buying cycle through writing this report. The reflections are as follows: firstly, the buyer needs to develop a series of strategies, keep an eye on fashion market trends and have a keen insight into industry developments and consumer preferences in order to better understand the needs and trends of fashion products. Next, it comes to design development. The designer needs to think creatively, and integrate buyers' needs and market trends into product design. Range build can be understood as launching a series of product lines with similar characteristics. The build is usually based on the best sellers and newness. The buyer will then discuss the feasibility of the plan with the managers in the selection meeting. This stage is quite important as the outcome of the discussion directly affects the sales for the new season. Once the range plan has been approved, the buyer needs to order with the suppliers. The buyer needs to carefully consider various factors, such as delivery times, quality requirements, order quantities and prices, logistics and transport. Close communication between the buyer and the supplier is essential to the success of the order. Critical path management is used to determine the time required for each critical task from design to delivery of the product. This is challenging for the author, as it requires an in-depth understanding of the project and the ability to respond to problems in time to ensure the successful completion of the project. By consulting with schoolmates and teachers as well as reading relevant books, the author has gained a better understanding of the process. Quality control and testing are crucial parts of the production process because they ensure that the quality and performance of the product meets the requirements. After production, the products are delivered to the warehouse by truck, sea or air, each of which has its own advantages and disadvantages, so the buyer should analyse and choose the best method. Before the product is launched, the buyer has to develop a series of marketing strategies. Once the product is launched, the buyer needs to monitor sales data and customer feedback to assess sales performance and adjust the sales strategy.

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All in all, the whole buying cycle is complex, and the buyer needs to have market insight, communication skills, analytical skills, supply chain management knowledge and teamwork skills to ensure the success of the buying process.

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14. References

BOF (2023) The State of Fashion 2023. Available at:

https://cdn.businessoffashion.com/reports/The_State_of_Fashion_2023.pdf (Accessed: 16 March 2023).

Coates, J. (2022) Developing and perfecting a fashion range plan. Available at: https://fameplus.com/touchpoint/developing-and-perfecting-a-fashion-range-plan# (Accessed: 11 March 2023).

Dhir, R. (2021) Negotiation: Definition, How It Works, and Why It’s Important. Available at: https://www.investopedia.com/terms/n/negotiation.asp (Accessed: 11 March 2023).

Dior (2021) Dior sustainability. Available at:

https://www.dior.com/en_gb/fashion/news-savoir-faire/folder-news-and events/dior-sustainability (Accessed: 14 March 2023).

Fernando, J. (2022) Corporate social responsibility (CSR) explained with examples. Available at: https://www.investopedia.com/terms/c/corp-social-responsibility.asp (Accessed: 14 March 2023).

Mintel (2019) British Lifestyles: A New Understanding of Corporate Ethics. Available at: https://reports.mintel.com/display/952844/?fromSearch=%3Ffilters.consumer segment%3D15%26freetext%3Dcustomer%2520interact%26last_filter%3Dconsumer segment%26resultPosition%3D9 (Accessed: 16 March 2023).

Mintel (2022) Fashion & Sustainability – UK. Available at:

https://reports.mintel.com/display/1150579/?fromSearch=%3Ffreetext%3Dfashion% 2520transparency%2520index%26resultPosition%3D1 (Accessed: 14 March 2023).

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Tai, F. (2014) Corporate Social Responsibility. Available at:

https://www.scirp.org/html/3-8601351_49900.htm#ref10 (Accessed: 14 March 2023).

Weston, S. (2023) Asos predicts top five young fashion trends for 2023. Available at: https://www.drapersonline.com/news/asos-reveals-top-five-trends-for twentysomethings-in-2023 (Accessed: 11 March 2023).

WGSN (2022) Collection Review: Women’s Colour S/S 23. Available at: https://www.wgsn.com/fashion/article/63205f922c82d3aaf56c9541?lang=en (Accessed: 4 March 2023).

WGSN (2022) Predicted women's print & graphics for S/S 23. Available at: https://www.wgsn.com/fashion/article/634d66090befee7dbb7e94aa?lang=en (Accessed: 4 March 2023).

Yu, A. (2019) Fashion careers: What does a fashion buyer do? Available at: https://fashionunited.uk/news/fashion/fashion-careers-what-does-a-fashion-buyer do/2019011841092 (Accessed: 11 March 2023).

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15. Image References

Balmain (2023) Screenshot of Balmain online size guide. Available at: https://gb.balmain.com/en/p/buttoned-knitted-cardigan-AF0KL023KB076KF.html (Accessed: 5 March 2023).

Behance (2011) Image of an initial sketch. Available at:

https://www.pinterest.com/pin/190980840422779390/ (Accessed: 8 March 2023).

Behance (2022) Images for Dior window display. Available at:

https://www.behance.net/gallery/38823647/Dior-Window-Display (Accessed: 16 March 2023).

Business (2017) An example of PO form. Available at:

https://www.businessaccountingbasics.co.uk/purchase-order-template/ (Accessed: 13 March 2023).

Dior (2021) Image of positive Luxury's Butterfly Mark certification. Available at: https://www.dior.com/en_gb/fashion/news-savoir-faire/folder-news-and events/dior-sustainability (Accessed: 13 March 2023).

Dior (2023) Screenshot of Dior website category. Available at:

https://www.dior.com/en_gb/fashion/womens-fashion/spring-summer-2023- collection (Accessed: 5 March 2023).

Dior (2023) Screenshot of Dior website. Available at:

https://www.dior.com/en_gb/fashion/products/324S13AM003_X0810-sweater-with ruffles (Accessed: 5 March 2023).

Fashion Revolution (2022) Fashion transparency index 2022. Available at:

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https://issuu.com/fashionrevolution/docs/fti_2022 (Accessed: 15 March 2023).

Gucci (2023) Image of “Knit with Signature of Dior”. Available at: https://www.dior.com/en_gb/fashion/products/324S13AM003_X0810-sweater with-ruffles (Accessed: 25 February 2023).

Revolution, F. (2016) Fashion transparency index. Available at:

https://respect.international/wp-content/uploads/2017/11/Fashion-Transparency Index.pdf (Accessed: 13 March 2023).

Rochelle (2022) Specification sheet example. Available at:

https://www.designersnexus.com/fashion-design-industry-information/how-to-spec a-garment-basic-points-of-measure-for-apparel/ (Accessed: 8 March 2023).

Similarweb (2023) Dior audience demographics. Available at:

https://www.similarweb.com/website/dior.com/#demographics (Accessed: 5 March 2023).

WGSN (2021) Predicted key colours for S/S 23. Available at:

https://www.wgsn.com/fashion/article/90348?lang=en (Accessed: 4 March 2023).

WGSN (2022) Predicted women's print & graphics for S/S 23. Available at: https://www.wgsn.com/fashion/article/634d66090befee7dbb7e94aa?lang=en (Accessed: 4 March 2023).

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16. Appendix

Appendix 1: Screenshot of Dior website category (Dior, 2023)

Appendix 2: Screenshot of Dior website (Dior, 2023)

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Appendix 3: Screenshot of Balmain online size guide (Balmain, 2023)

Appendix 4: Image of positive Luxury's Butterfly Mark certification (Dior, 2021)

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Appendix 5: A rough guide to the scoring (Revorution, 2016)

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17. Self – Assessment Form

Assessment Feedback Form – Fashion Management Student Name: Shuhan Zhuang Module ……FMAN3000 Tutor…………Claire Marsh and Karen Hickinbotham

Assignment Title –
Marking Criteria & Assessment component weighting	100- 90%	89-80%	79- 70%	69- 60%	59-50%	49- 40%	39- 30%	29-0%
Presentation	10%				*
Research	30%				*
Analysis	40%					*
Conclusions and recommendations, including reflection	20%				*

What areas have you addressed using the feedback from your previous submissions? How have you improved your academic work?

I have made changes through my previous submissions to reduce the similarity rate and uploaded my report to Studiosity to check the academic language of the report and corrected grammatical errors based on the advice it provided.

For this assignment - What you did well?

● I have presented my report professionally.

● My report has been well structured and laid out.

● I have used visual imagery in my report.

● I have done a lot of research into the brands I have chosen.

● I have used recommended websites, journals and books.

● I have tried to think critically about the issues.

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Where can you still improve?

● My time management needs to be improved.

● The diversity of resources needs to be better. I would like to use more books for research, but I find it is very limited.

● I would like to become more critical.

● I need to provide more data in the cost negotiation section.

Signed By………………. Date ………………… Overall Mark %……………subject to PAB Should you wish to discuss your feedback please see the marking tutor

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