Opportunities in MFM for Software Professionals

Sometimes I receive mails like this:

" I am a software engineer by profession and in the industry for 6 years. I have been slogging in a field I had little interest and just because of our social structure which pushes you to deliver your best in anything you do; I have been doing well all these years. A while ago I was wondering if I am in a field where I have interest in; I would be a happier person and could deliver even better results. That is how I came across fashion management and the MFM course offered at NIFT....."

Such students sometimes wonder how MFM program can integrate their career with the software degrees they carry. In fact it provides them with many opportunities. 

Broadly we can divide the opportunities into three categories. The first I call as the direct benefits. These are the ones where the knowledge of software helps into getting a specialist jobs. This category include ERP designing and implementing in an apparel industry. It also includes jobs in retail consultancy companies. I have also seen students getting placed in Visual Merchandising Software companies and even data base management companies working for retail projects. 

The second category is the broadest. These are indirect benefits that you get from the knowledge of software skills. The benefits range from shortcuts in excel to actually be in the team responsible for ERP implementation in the organisation. Increasingly software professionals are becoming the first among equals when applying for jobs. As more and more companies are getting IT as the central part of the strategy, they find a fashion professional with software skills very helpful. 

With the advent of online retailing, there is a third category of opportunities that is increasingly becoming available for software professionals. Developing and maintaining B2B platform for Textile Value chain. Increasingly these sites are taking advantage of social networking capability of Web-2  and more where software professionals with Fashion management degree are hired.

In a nutshell, opportunities abound for software professionals in Fashion Management Field. If you are a software engineer and have an interest in Fashion, MFM can provide you with opportunities to take your career to new highs. 

Why We Wear Cloths or Need for an MFM Course

It is extremely important both for an aspirant of MFM and a student to know the reason for this course. Marketing students know that every product is based on some need. And need is a state of physiological, social and psychological deprivation which an organism ( in this case the human beings) seek to fulfill. Then why we need fashion or clothing ? I am reproducing a few paragraphs from this site to explain:

"We have several reasons for our clothing choices. We choose clothes based on functional reasons – for comfort, protection against the elements and to support our physical activities. We also choose clothes for social reasons, such as adhering to cultural norms, meeting expectations, and fitting into groups. And we base our clothing decisions on psychological factors, such as a desire to be attractive, feel powerful, or express our creativity.

The styles we choose affect how we see ourselves and can make a strong impression on others. Some people try to appear current and trendy by choosing to wear the latest, popular fashions. Others may prefer to take a more conservative approach and wear simple, classic styles, such as polo shirts and khaki pants.

Color choice also affects how we perceive ourselves and how others perceive us. For instance, we may wear the color black because it is slimming, simple, and neutral. The color red is emotionally intense and can elevate your heart rate. Purple has a long history of being the color of royalty.

...Ultimately, we choose clothing based on a variety of reasons - marketing, functional needs, our physical, social, and psychological reasons , and our own individual taste!"

Thus fashion designers work to create such clothing which takes care of that need. Marketers take these clothes from manufacturers and sell to the customers having those needs. But needs, as you know are not the same everywhere and also they have to look for the demand ( the willingness to pay ) for that need.  This is where you need to study Marketing Management and Consumer Behaviour and where the other subjects of MFM kick in. 

Placement in MFM at NIFT Mumbai in 2011

Just read this news article here.

Among other things it quoted the following:

...This year we have received good offers from labels or brands namely, S Kumars, Future Group, Lifestyle, Kimaya, Neeta Lulla, Arvind Lifestyle Brands, Adidas, Handicrafts and Handloom Exports Corporation of India (HHEC), Central Cottage Industries Corporation of India (CCIC), and others."

"Among the 30 FM students the average salary offered is Rs3.5 lakh per annum and the highest salary offered is Rs5.5 lakh per annum. Last year the highest package offered was Rs4.2 lakh per annum," he added.

FM student Sumit Gupta has bagged the highest package this year of Rs5.5 lakh per annum through PPOs from Adidas and he will soon join them as operations manager...

I guess this piece of news will give some idea about the placement and compensation packages in MFM program of NIFT. 

20 Points to get the best out of your MFM program

I congratulate all who are joining this program. These are just some of the points that I would like to share with you. This is an enriching program with the potential to give that jump-start to your personality and career.

1. Take Notes

Carry a durable note book with you when attending classes. Take notes. When attending presentations, try to write the main points. It is always helpful to take notes of the faculty for exams. 

2. Preserve your notes and Project files. 

Needless to say, you will need them, once you are on the job. That little procedure, those instructions will come in handy, when you are on job. 

3. Learn Excel- Advanced

Excel is not just about filling up cells and adding. It is also about referring and mapping. Learn it thouroughly, learn the shortcuts and commands like vlookup and tools like pivot table. Learn basic coreldraw and photoshop, will come in handy when designing presentations and logo.

4. Take these subjects seriously

These subjects should be considered sacrosanct- Merchandising Management, Fabric Knowledge, Retail Management, Market Reseach and Pattern Appreciation. Never miss classes or assinments in any of those. 

5. Always opt for these subjects

Never miss these subjects- Intellectual Property Rights, Financial Management and Analysis, Fashion Forecasting and Statistical Analysis ( SPSS)

6. Make contacts outside the department

Go out of MFM and develop GOOD contacts with at least five persons each in Fashion Design, Textile Design, Knitwear Design, Garment Manufacturing Technology and Fashion Communications. They will be you mentors in their respective fields throughout your joblife. 

7. Take Freelance Assignments

Seek those out. Find out people with their relatives in the industry, do market research for them. 

8. Never Miss an exchange program

If possible, try and enroll in the overseas exchange program

9. Make use of your camera. 

It always helps to know how to click correct product photographs. Make use of you mobile camera or that small digital camera. 

10. Never compete with your colleagues

Your colleagues are your contemporaries in your job life. Never compete with them. Help them in moving ahead and take their help ( Plesae do not try to copy from their sheet in exams :)) .They are your best friends once you are on the job. 

11. Make use of Scholarship Scheme of NIFT

Sometimes needy students fail to make use of the scholorship scheme of NIFT. It is so good, that your whole course fee can be waived. If you think that you are in need, apply for it. 

12. Want to Hangout - Visit Malls

Go to malls, look at the latest trends not only in fashion, but in lifestyle and architecture. Discuss with your colleagues. 

13. Discuss your resume and your aspiration with your faculty/mentor

Your faculty is the best guide for you, discuss your aspirations, your background. They can create the pathways for your destination. Discuss your resume with them. Finetune it.

14. Never Miss your classes

I think I should not overemphasise this point. Normally I hear students say that they can learn on the job. I am telling you  it is very difficult without a clear theoretical background in your mind. 

15. Learn Terminology- Fabric, Garment, Fashion, Retail

Expertise is all about knowing your vocabulary. Make a diary and try to find the meanings of the words of the experts. What is Chic and Classy. The difference between Cambric and Poplin. Go ahead-ask people. 

16. Learn about Colors

Can you name this color. Is it green. What green- Moss green, Sage or Olive. Learn to name colors and patterns, and you will be amazed at your increased ability to discern shades. 

17. Make use of internet

Join Linkedin, Facebook. Type "Apparel Retail India" on Google and hit News. Do it every day and you will never miss an important news.Then type "Textile India" on Google News and make it a habit to visit the pages. 

18. Make use of your NIFT Library

Never miss the books that discuss forecasting- "Here and There", "Promostyle", "View" and "Textile Outlook International" are some of them. Learn how to use them. Read Economic Times, "Fashion and Lifestyle" and do not miss "Images Retail". Too much !! Yes, MFM is hard work and nobody will tell you that. 

19. Float your company

Mock start your company- just for Fun. Meet the government officials. You will be amazed how much you will learn in the process. The process of registration will remove the hurdles in your entrepreneural spirits. I don't recommend attending entrepreneurship programs. What I recommend is to go ahead and do it.

20. Learn Finance 

Go ahead and buy some shares of the listed retail companies- Pantaloon, Shopper's Stop, Zodiac, Mandhana- It will help you to follow them closly. Learn to read the financial statements. It is easy. Go through the balance sheets of Google orAlibaba to know the financial key features of online company. Go to SEBI website and read offer documents of the textile and retail company. You will know much about the industry.

Added on 05.6.2011


21. Buy Textbooks and Preserve Them
Just an afterthought, nevertheless very important !! Buy standard textbooks of the subjects that you read. Don't hand it over to your juniors. It includes books related to Fabric Knowledge, Garment Quality and Pattern making.You would always be looking for some of the concepts and definitions once you are on Job. 

Let me know what you think here.

Get together of MFM- NIFT Delhi 20-May-2011

I thank all the organisers and students who have managed to make this event happen. Though it was attended by a few, but it has attempted to start a series of interaction of the seniors with the students currently studying. Overall, the intent was there, the effort was commendable and I am looking forward to more such events. It was amazing to see students managing the show without the presence of faculty.

Goddess on Swimsuits- GD Discussion Topic

Please read the article here and discuss along the following lines:

1. What do you think about the appropriateness of use of religious icons on swimsuits.

2. Is the protest an interference on the right to wear ?

3. How would you respond to this challenge as a designer and as a retailer

4. What are the issues involved here

5. Are these communities overreacting, or did Burke act inappropriately by using these religious images on spandex?

Regards,

Priyank

Some Case Studies for GD of MFM- 2011

Here are some of the case studies for you to start thinking on those lines. You will get slightly easier case studies in the GD for NIFT MFM

1. Zara:

Please read the case here

You are a Rs. 300 Cr. brand selling Women Western Apparel Across 100 stores in India. How would be tackle to safeguard your market position in view of seemingly success of Zara in India.

2. Shane Warne spins own apparel brand 

 Please read the case here and discuss the following questions:
a. What is the offering to the customer and how it is different from other offerings.
b. Comment on the longevity of the brand in India.
c. How do you think other brands in India will counter this.

3. Future Ventures
Read this Article ( Slightly Financial). Would you recommend this IPO. Why ? Why not ?

4. Liftstyle Retail


Read it here
Comment on the product, price, positioning and promotion for this brand. What can be the reasons of the success of its private labels.

5. Globus

Read it here

Comment on the success of E-commerce Retailing of Apparel in India.