 THE ROLE OF LEAD-TIME CONCEPT IN MANAGING THE FASHION SUPPLY CHAINS (ULOGA LEAD-TIME KONCEPTA U UPRAVLJANJU LANACA SNABDEVANJA U MODNOJ INDUSTRIJI)Slobodan Aćimović, Veljko Mijušković and Ivan Stevanović Ekonomske ideje i praksa, 2017, issue 27, 41-54 Abstract: The supply chain management represents one of the most influential contemporary business philosophies, which occupies the undivided attention of the expert and scientific public in the last forty years, since the moment of its creation. During that time period, under the influence of globalization, technology development and ever more intensive competition, the increase of speed flow of goods and information through the supply chain is becoming the imperative of modern business. Therefore, many business concepts are created with the aim of improving business connections among the participants of the supply chain, out of which the most prominent one is the concept of lead-time. The lead-time concept (time needed for the realization of the order) refers to the total time which passes between the buyer's order and procurement of first materials based on that order by a precise company, up to the moment of performing payment to the company by the buyer, based on the obligation it has. Also, the stated concept has a practical usage in managing the supply chains of different industries. Precisely the influence analysis of the lead-time concept in managing the fashion industry supply chains is the subject of basic preoccupation of this paper. The very paper is divided into three parts. After the introductory notes, the focus of the first part of the paper is the explanation of the essence and characteristics of the lead-time concept, as well as its importance in managing the supply chain. The second part of the paper is dedicated to the role of lead-time management within the fashion industry, where an analysis is carried out about the relevance of design and the use of the agile supply chain with the aim of securing quick answers to customer demands. Within the last, third part of the paper, the business model of the H&M company is analyzed as a case study, since this company bases its operations on the concept of lead-time. The aim of the paper is to analyze the importance and the usage effects of the lead-time management in contemporary turbulent surroundings and business, from both the aspects of theoretical acknowledgements and the precise business example. Keywords: supply chain management; lead-time management; fashion industry; H&M (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:beo:ekidpr:y:2017:i:27:p:41-54 Ordering information: This journal article can be ordered from Access Statistics for this article Ekonomske ideje i praksa is currently edited by Miomir Jakšić More articles in Ekonomske ideje i praksa from Faculty of Economics and Business, University of Belgrade Contact information at EDIRC. |
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