Buying Cycle

The Buying Cycle refers to the key events and the processes in which the lickulate buyer is intricate in instal tobuy a garment figure of speech for a retail or a mail order company. ? The length of the buying cycle varies from company to company. It commonly takes a division amid inspectioning the circulating(prenominal) seasons sale and delivering the overlap into stores. room Industry traditionally splits the year into two main seasons * restrict/Summer- February- July gloaming * pass- August JanuaryThe competitive and constantly changing fashion business requires a more frequent introduction of merchandise, resulting in most stores introducing new-made sets umpteen times in between these two main seasons. The occurrence and the name of sub-seasons vary from company to company. Sub-Seasons Seasons Approximate Durations (with Overlaps) Spring Transition middle Jan Feb end up 6 weeks Spring Feb require Mar end 8 weeks Spring Promo Apr beg mid Apr 2 weeks S ummer 1 mid Apr whitethorn end 6 weeks Summer 2 mid May mid July 8 weeksSummer Sale mid July Aug beg 2 weeks declivity Transition mid July Aug end 6 weeks Autumn Aug beg house end 8 weeks Winter 1 Oct beg mid Nov 6 weeks Winter Festive/Holiday mid Oct mid Nov 3 weeks Winter 2 mid Nov Jan beg 6 weeks Winter Sale Jan beg mid Jan 2 weeks PHASES Various ranges introduced within the season. TRANSITIONALS Ranges which bridge the gap between one season and the next season. The Buying Cycle check up on of current Seasons sales Budget Planning Comparative obtain Directional Shopping Sourcing for product exploitationRange programning Garment samples sourcing for range Pre filling of garment samples Price negotiation with suppliers final exam examination Range Selection Placing orders for ranges Pre work sampling & approvals Bulk garment manufacturing Delivery of products to the retailer Purchase by customer Review of current seasons sales *In the current scenario buyer wor ks simultaneously for three seasons with very ambitious workload. Buyer handles three buying cycles which overlaps at one time Review of sales of on going season, Range programmening for the ext season & Pre business approvals for the coming seasons. Review of current Seasons sales This look backward often takes the form of presentations to the buying squad and the design plane section team if the company has one with samples of garments from the range which was in stores last season and analysed. QC department may contribute to the meeting by commenting on any practiced problems which may explain low sales figure, for instance colour or fit in production differing from the catalogue photograph of the garment.After sales review meeting, Buyer is armed with the knowledge of which styles the customer currently likes and dislikes and a cloth of successes to build upon for the new season. So a rough idea of a new range plan plenty start to be pencilled in.? This whole exercise is further gets the flavor of current trends, PESTEL influence and bear on by Next seasons forecasting. They may also be learnt from other buyers sales figures, so if a new fabric or colour has been trialed in another product, the buyer can decide whether or not to run it too. Budget PlanningMerchandisers usually plan budgets in conjunction with buyer. The framework of the budget is based largely on the last seasons performance as discussed at the range review. Comparative Shopping * Often referred as comp. shop. * Under taken at the beginning of each season and continues with once a month visit. * Buyers & Designers argon involved. * Starts with the looking at current merchandise in the stores of competitors which sell corresponding ranges. * Report will be produced with few sketches & information grid. * Analysis of wanting(p) important trends in own range. Directional Shopping Term utilise for trips to gain inspiration for design concepts. * Trips depend upon the buyers prod uct range & travel budget. * Buyer may visit designer RTW ranges to spile market ranges. * Makes note on key shapes, details, colors and fabric for reference. * Buyers usually have budget to buy samples which are referred as bought samples. * Designers may section responsibility of directional shopping with buyers. Sourcing for product development Garment samples are bought from different stores as during directional shopping which resemble the product range of the buyer or some new trend.Range Planning It is a gift where buyers define the detail of the range that is to be offered to the customer in ground of styling, fabric, design, suppliers and prices. Pre Selection snip after the Range planning stage at the Buyers end can be in form of the Line review/Range review meeting.? Garments samples featuring on the Range plan are presented. Participants are the Design, Marketing, Merchandising and QC teams. Range is reviewed vis a vis * Styling, Colors, Price and Delivery. * Sourci ng scheme regarding product and Supplier base. Period after Line/ Range reviewFinalization of the Styles , suppliers, prices for the Final Range.? Involves * Informing suppliers regarding the styles which have been included in the final Range. * Change in styles if any. * Price re-negotiations. * Order Delivery dates re-negotiations. * Styles dropped. * Request for additional samples if required for the final range review meeting by the buyer. Final Order berth After the Final Range Selection meeting, orders are placed with the suppliers in form of sending Purchase orders /Purchase sheets for each individual items selected to be on the range.These may be generated by the Merchandising department or by a separate Purchase department. Critical path/ cartridge holder and Action Calendar for the buyer The key activities and the timelines associated with them, for processes like product development and production of any item forms the critical path or the Time and Action calendar. By v irtue of the T&A the various activities involved in the Product development/Production processes and the responsible party is fixed.