Fashion Buying And Merchandising Essay - 1981 Words

FASHION BUYING MERCHANDISING ESSAY Critically assess the benefits and the drawbacks of centralized buying within large high-street fashion retailers. What measures would you recommend to overcome the drawbacks? 1,576 words GEORGIA COLLINS 00124773 FASHION TECHNOLOGY FT3 FASHION BUYING MERCHANDISING E18BM ANDREW GRIEVE In the fashion industry centralised buying is used by many retailers, typically by larger High-street brands. Centralised buying or purchasing is a single buyer or buying department within a retail organisation that makes the purchases for all departments, to simplify the buying process. The company can use in-sourcing to maintain control over certain key elements of the organisation such as the buying function, manufacturing or transportation of products. Capital normally used to pay quotas, tax and transport fees will be saved. Alternatively, it can be outsourced to a retail cooperative that effectively uses bulk purchasing power to get products, raw materials or merchandise at a cheaper rate, in special deals or with an applied discount. Essentially, by using this method of buying economies of scale are effectively utilised. Both in-sourcing and outsourcing can be used within the organisation, leading to vertical integration where the supply chain of the organisation is owned by the company itself. For example, Zara own factories in Spain that produce materials used to manufacture garments, allowing them to dye or add specialShow MoreRelatedInternational Retail Buying Merchandising Essay2543 Words   |  11 PagesInternational Fashion Branding International Retail Buying amp; Merchandising ‘Evaluate the various buying structures that exist in order to support a retail buying function and the impact of these buying structures on the roles and responsibilities of the retail buyer. 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