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Terms in this set (45)d. radio frequency identification devices __________ are tags that transmit identifying information and are attached to individual items, shipping cartons, and containers. a. data stores a. consumer direct fulfillment ________________ is a method where retailers receive orders from customers and have the product shipped directly to the customer from the vendor. a. consumer direct fulfillment d. supply chain management _______________ is a set of activities and techniques firms employ to efficiently and effectively manage the flow of merchandise from the vendors to the retailer's customers. a. employee experience management e. point of sale __________ is a term used for when a retail associate scans the merchandise the customer intends to purchase. a. consumer direct fulfillment c. vendor-managed inventory (VMI) __________________ is an approach for improving supply chain efficiency in which the vendor is responsible for maintaining the retailer's inventory level in each of its stores. a. collaborative planning, forecasting, and replenishment (CPRF) c. electronic data interchange (EDI) system ________________ is the computer-to-computer exchange of business documents from the retailer to the vendor, and vendor to retailer. a. universal product code (UPC) system c. collaborative planning, forecasting, and replenishment (CPFR) _______________ is the sharing of forecasts and related business information between retailers and vendors to improve supply chain efficiency and product replenishment. a. universal product code (UPC) system a. mobile task management ________________________ technology is a wireless network and a mobile device that receives demand notification and enables a speedy response. This solution allows the associate closest tot he ordered item to physically pull it and verify its availability. a. mobile task management b. pull supply chain A retailer whose orders are generated at the store level on the basis of sales data captured by point-of-sale terminals is said to employ a(n): a.
push supply chain a. advanced shipping notice (ASN) A(n) ________________ is a document that tells the DC what specifically is being shipped and when it will be delivered. a. advanced shipping notice (ASN) e. stockout A(n) ________________ occurs when an SKU that a customer wants is not available. a. overstock e. cross-docking Ali supervises the conveyor belts in a distribution center. Her job is to make sure the merchandise moves quickly from the receiving docks to the staging area in order for the trucks to load and deliver. No merchandise is stored, as the vendors already prepared it specifically for the stores. Ali handles _______________ at the distribution center. a. marking c. the government restrictions on how many times a customer can return products to a retailer All of the following are reasons why more attention is being directed toward reverse supply chain systems except a. the environmental sustainability of excess packaging and shipping materials when returned c. increases sales and net profit margins, without increasing inventory An efficient supply chain and information system can improve a retailer's return on assets (ROA) because the system a. reduces net profit margins, but increases sales by increasing inventory d. pull supply chain strategy An inventory planner notes that the inventory she is responsible for would be best managed by relying on consumer demand. She recommends to her management to implement a(n) ____________________ that would support being in a better stock position of her managed product by store location. a. influential logistic strategy b. tailored assortments Bloomsberry LLC, a fashion retailer, periodically updates their collection of apparel. Woolen apparel is stocked during the winter, and cotton apparel is stocked during summer. Which of the following is this an example of? a. B-stock a. higher inventory turnover Fewer stockouts and tailored assortments translate into a.
higher inventory turnover a. push supply chain strategy For fashion merchandise where is only one shipment of the product or collection, the best supply chain method to use is the a. push supply chain strategy b. drop shipping From the retailer's view, _____________- reduces the retailer's supply chain costs and investment because the vendor assumes the costs and risks of shipping the product to the customer. a. push supply chain b. The system ensures that the information received has not been tampered with by ensuring that the communication is both authentic and authorized. How do retailers and vendors ensure that the information that passes back and forth between them is secure? a. There is an element of trust that is necessary in doing business with one another. d. push supply chain In a(n) _________________, merchandise is allocated to stores on the basis of forecasted demand. a. influential logistic strategy b. customers are offered tailored assortments that are in stock In an efficient supply chain and information system, net sales increase because a.
retailers prohibit customers from window shopping e. stockout Jane visits the local supermarket to purchase caviar for a dinner party. Upon enquiry, she finds out that caviar is sold out. Which of the following terms best describes this situation? a. excess supply b. backhauls Many companies who deliver their own product to their stores through their own trucks are using ____________ as a way to offset expenses by picking up loads to transport on their way back, rather than traveling with empty trailers. a. boomerangs e. drop shipping Matthew made a purchase online of a Fender speaker system from a retailer. When the shipment of his purchase arrived at his home, he notices that the product was shipped to him directly from Fender. The retailer and vendor are utilizing a system of a. outsourcing e. freight forwarders Retailers can use _______________ to arrange for the storage and shipping of their merchandise. a. dispatchers c. push supply chain Retailers with less sophisticated forecasting and information systems tend to use a(n) a. influential logistic strategy e. cross-docking The process where vendors ship the merchandise prepackaged to the distribution center in the quantities required for each store and then that merchandise is shipped to stores as soon as it is received is called a. reverse logistics d. reverse supply chain What is the process of moving merchandise through the channel from the customer to the store tot he DC to the vendor? a. outbound returns a. asset and inventory turnovers are high When inventory levels, inventory investment, and total assets are low, select one: a. asset and inventory turnovers are high b. managing inbound transportation Which is the following is a function of a distribution center? a. providing after-sale service a. decrease in inventory turnover Which of the following is not a benefits of efficient supply chain management? a. decrease in inventory turnover b. reduced inventory turnover Which of the following is not a benefit of using RFID over traditional bar codes? a. RFID updates the data stored d. negotiating with vendors Which of the following is not a function of distribution center? a. managing inbound transportation b. trendier merchandise Which of the following is not a reason why efficient supply chain is important to retailers? a. improved product availability d. using reverse logistics Which of the following is not a way to reduce the level of inventory in the supply chain and the number of stockouts in the stores? a. employing collaborative planning, forecasting, and replenishment (CPRF) b. real-time measure of inventory levels Which of the following is the primary benefit to retailers of utilizing RFID tagging for individual items? a. real-time measure of employee productivity c. there is less likelihood of being overstocked or out of stock at each store Which of the following statements describes the benefits of a pull strategy? a. it forecasts the competitor's demand a. all of these statements are benefits of a pull strategy Which of the following statements does not describe the benefits of a pull strategy? a. all of these statements are benefits of a pull strategy a. the use of distribution centers increases inventory investment Which of the following statements does not describe the benefits of utilizing distribution centers over direct store delivery? a. the use of distribution centers increases inventory investment a. it can be improved by increasing the gross margin and lowering expenses Which of the following statements is a method for improving net profit margin? a. it can be improved by increasing the gross margin and lowering expenses b. they believe the additional costs do not benefit the return on investment Which of the following statements is a reason why some vendors and retailers chose not to adopt RFID tagging? a. they are concerned about the environmental impact d. the DCs enable the retailer to carry less overall inventory Which of the following statements is an advantage of using distribution centers over direct store delivery? a.
the DCs have the advantage of keeping extra merchandise as backup stock in the store c. reverse supply chain Which of the following terms describes the process of moving returned goods from a customer to a retail store or FC, from a retail store to a DC, or from a DC to a vendor for the purpose of capturing value or proper disposal? a. exception management logistics c. a supermarket Which of the following types of retailers is most likely to benefit from the use of direct store delivery? a. a big-box discount store Sets found in the same folderMKTG 350: Ch. 4 - Test #250 terms katelynmarieg3 MKTG 350 - Final - Ch. 1045 terms katelynmarieg3 Other sets by this creatorMNGT 470: Test #2: Chs. 12-1410 terms katelynmarieg3 MNGT 470: Test #2: Chs. 9-1110 terms katelynmarieg3 MNGT 470: Test #2: Ch. 7&810 terms katelynmarieg3 MKTG 435: Test 3: Ch. 1510 terms katelynmarieg3 Recommended textbook solutions Chemical Reaction Engineering3rd EditionOctave Levenspiel 228 solutions Chemistry for Engineering Students2nd EditionLawrence S. Brown, Thomas A. Holme 945 solutions Advanced Engineering Mathematics10th EditionErwin Kreyszig 4,134 solutions Fundamentals of Engineering Economic Analysis1st EditionDavid Besanko, Mark Shanley, Scott Schaefer 215 solutions Other Quizlet setsISDH LESSON 1453 terms B00kW0rm12 Formulas17 terms milanovskiana Psychology of Religion25 terms Faithmyers14 Science/Study Guide38 terms sschumacher05 Which of the following is a benefit of efficient supply chain and inventory management?Improved product and material flow
Effective supply chain management enables companies to improve product flow through accurate demand and sales forecasting and also improve inventory management to arrest the bullwhip effect and avoid underproduction.
What is the primary benefit to retailers of utilizing RFID tagging for individual items?RFID technology can track inventory and asset movements and prevent consumer shoplifting. This is the reason why manufacturers and suppliers use RFID technology to prevent theft and inventory shrinkage. Briefly, RFID technology allows retailers to track their inventory from the warehouse to the sales floor.
Which of the following best describes computer to computer exchange of business documents from retailer to vendor and back?Electronic Data Interchange (EDI) is the computer-to-computer exchange of business documents in a standard electronic format between business partners.
What is an advantage of using RFID over traditional bar codes quizlet?RFID advantages over traditional bar codes:. reduces the retailer's supply chain costs and investment because the vendor, rather than the retailer, assumes the costs and risk of supplying merchandise to customers.
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