English Language & Usage Asked on March 27, 2021
what is the idiom or abbreviation that use for the time between production and selling?
for example, Zara has less ??? than Nike
Rapid Response to Consumers
Shorter lead times (and more fashionable clothes): Shorter lead times allow Zara to ensure that its stores stock clothes that customers want at that time (e.g. specific spring/ summer or autumn/ winter collections, recent trend that is catching up, sudden popularity of an item worn by a celebrity/ socialite/ actor/ actress, latest collection of a top designer etc.). While many retailers try to forecast what customers might buy months in the future, Zara moves in step with its customers and offers them what they want to buy at a given point in time.
From a different article:
The gap between demand for consumer goods and their efficient supply is greater now than at any other time, and is widening as consumers' wants become less predictable, and suppliers struggle to meet them. Quick Response (QR) is both a management paradigm and a methodology that allows supply systems to react quickly to changes while improving their performance. QR aims to help organize a business in the face of problems associated with the vast array of goods and services now to be found in consumer markets. It is particularly relevant to the Fast Moving Consumer Goods (FMCG) and Fashion industries. QR works by compressing the time between product or service design concept and appearance on the retail shelf. It then takes advantage of such recent technologies as Point of Sale (PoS) tracking and Electronic Data Interchange (EDI) to constantly up-date estimates of true consumer demand, and then places intelligent re-orders for goods with flexible manufacturers and their ...
I’ll have to add the sources later.
Correct answer by Xanne on March 27, 2021
How about day sales of inventory? From Investopedia:
The days sales of inventory (DSI) is a financial ratio that indicates the average time in days that a company takes to turn its inventory, including goods that are a work in progress, into sales.
DSI is also known as the average age of inventory, days inventory outstanding (DIO), days in inventory (DII), days sales in inventory or days inventory and is interpreted in multiple ways. Indicating the liquidity of the inventory, the figure represents how many days a company’s current stock of inventory will last. Generally, a lower DSI is preferred as it indicates a shorter duration to clear off the inventory, though the average DSI varies from one industry to another.
Given that you also mentioned abbreviations, you could also use DSI.
Answered by Richard Kayser on March 27, 2021
Asset turnover time: https://en.wikipedia.org/wiki/Asset_turnover (The word "asset" can be substituted for a more appropriate word if necessary)
Answered by Greybeard on March 27, 2021
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