Tuesday, May 31, 2016

Parsons Project (Production Costs)

I'm taking online classes with Parsons, and for an assignment we had to take a previous accessory that we had designed and pretend that we were preparing for production costs. 
I had designed a leather bracelet with lobster claw closure,chain extender and for some reason I stuck a safety pin on top.

 To start the project, you had to list all the materials used and find the cost for them. So my list is:

  1. One yard of leather                          $9.62
  2. Pack of lobster claw closures          $2.99
  3. Pack of jump rings                          $2.99
  4. Packs of bracelet chain extenders $7.98

1 Hour worked @ $10 an hour              $10
Total Production Cost                           $33.49
20% Profit                                            $ 6.70
Total cost plus profit                           $40.19
Estimated retail price                        $39.95

Honestly, I would never buy a bracelet that was $39.95. I know some people who drop that money and keep it moving. If I were to pitch my design to a retailer like ZARA, Urban Outfitters, and Top Shop; It would be justified. If I were to pitch my design to Forver 21, I would get laughed at. 

I learned a lot about production when I worked with Monif C. I was a temporary production assistant. The Production manager taught me so much when I was there, so this assignment really reinforced what I had learned. He taught me the importance of product quality, how to take inventory of materials so that we didn't over order materials for a new production. It was an experience that I would appreciate for my future



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