Management of contemporary fashion industry: characteristics and challenges

Fashion is one of the most visible media of change. The fashion industry forms part of a larger social and cultural phenomenon known as the fashion system, a concept that embraces not only the business of fashion but also the art of fashion, and not only production but also consumption. The peculiar nature of fashion industry can be characterized in terms of its volatility, velocity, variety, complexity and dynamism. The paper aims to identify the main characteristics of modern fashion industry and to develop a time efficient supply chain model. (C) 2014 The Authors. Published by Elsevier Ltd.