SCM 300 EXAM 2 ASU QUESTIONS
WITH CORRECT ANSWERS
Omni-channel,Retailing,-,answer-
Retailers,that,are,fully,committed,to,engaging,customers,via,catalogs,,phone,calls,,websites
,,email,,internet,chatrooms,,social,media,sites,or,mobile,apps,,and,of,course,also,in,stores.,E
x.,Nordstorm
3,Retail,sources,of,supply,-,answer-Manufacturers,
‚,These,are,the,companies,that,actually,create,the,finished,goods.,Retailers,then,buy,the,goo
ds,and,that,retailer,is,responsible,for,distribution,and,storage.,Wholesalers,
–,These,organizations,purchase,goods,from,manufacturers.,Typically,,they,purchase,an,a
ssortment,of,goods,from,many,manufacturers,,thus,a,retail,company,could,purchase,all,of,th
eir,electronics,from,a,single,wholesaler,versus,having,to,purchase,from,each,individual,man
ufacturer.,Drop,shippers,
–,This,one,is,not,really,a,source,of,supply,,but,rather,an,organization,that,ties,manufacturer
s,and/or,wholesalers,directly,to,consumers.
Chargebacks,-,answer-
These,are,effectively,penalties,charged,by,retail,organizations,to,their,suppliers/
vendors,for,any,number,of,minor,and,major,supply,chain,offenses.
CPFR,(Collaborative,,Planning,,Forecasting,,Rescheduling),-,answer-
A,formalized,effort,by,supply,chain,partners,to,share,data,and,collectively,develop,forecasts,
in,an,effort,to,reduce,supply,chain,costs,through,better,planning.
VMI,(Vendor,Managed,Inventory),-,answer-
An,arrangement,where,retailers,allow,vendors,to,monitor,in-
store,inventories,,initiate,orders/
shipments,to,the,store,when,inventories,are,low,,and,also,bring,the,items,into,the,store,and,o
nto,the,shelf.
Last,Mile,-,answer-
In,supply,chain,the,last,mile,typically,refers,to,the,portion,of,the,supply,chain,between,the,fina
l,inventory,holding,facility,and,the,end,consumer.
, 4,types,of,retail,ownership,-,answer-
5,Independents.,One,store,,one,owner.,Usually,they,are,trying,to,satisfy,a,very,specialized,m
arket,or,locale.,Example:,Family,owned,corner,stores,,Boutique,store,that,is,run,by,the,owne
r.,Chains,–,Multiple,stores/facilities,,one,owner/company.,Example:,Home,Depot,,Wal-
Mart,,Costco,,Gap,,Macy’s,,Safeway,
(Amazon.com,probably,best,fits,this,category).,Franchises,
–,A,franchisor,owns,the,rights,to,a,company,and,the,name.,A,franchisee,is,allowed,to,open,
an,outlet,under,that,name.,The,franchisee,must,abide,by,the,rules,and,processes,of,the,fran
chise.,Examples:,Jiffy,Lube,,McDonald’s,,7-
eleven,,Buffalo,Wild,Wings,,Massage,Envy.,Cooperatives,
–Retailer,that,is,owned,by,its,customer,members.,These,organizations,typically,try,and,fit,t
he,very,special,needs,of,the,consumers,that,organized,the,cooperative.,Examples:,REI,
(Recreational,Equipment,Inc.”
Prototype,Stores,-,answer-
A,series,of,stores,that,have,common,design,,construction,and,layout
Rationalized,Retailing,-,answer-
This,retail,strategy,has,retail,chains,develop,rigid,control,structures,to,develop,and,manage,
processes,such,that,all,the,retail,outlets,are,managed,in,the,same,way.,Example:,Employee,
can,work,at,different,locations,without,much,change.
Planogram,-,answer-
·      ,A,map,of,where,every,product,goes,on,a,retail,store,shelf.
4,Store,security,issues,-,answer-Employees,
–,Managers,,store,employees,,and,potentially,vendors,
Store,Assets,–,Inventory,,cash,,store,property,Customers,and,their,
Assets,–,Store,visitors,,their,cars,and,also,any,other,personal,property,
Data,–,Company,,customer,,and,vendor,data
Goal,of,waiting,line,management,-,answer-•,Balance,the,cost,paid,by,the,customers,
(time),with,the,cost,paid,by,the,company,(money,paid,to,maintain,the,system)
Parts,of,a,waiting,line,system,-,answer-·      ,Input,Source,
‚This,is,the,population,of,people,that,might,want,service.,
Waiting,Line,–,The,area,in,which,customers,wait,for,service.,
Service,Facility,–,The,area,in,which,customers,actually,receive,service
4,Managerial,Considerations,in,Queues,-,answer-·      ,Customers,
‚,How,many,are,there?,How,quickly,are,they,arriving?,
The,Waiting,Lines,–,What,types,of,lines?,How,many,lines?,
Employees,–,Who’s,working,in,the,system?,How,many?,Skill,level,and,speed?,
Service,Facilities,–,How,effective,and,efficient,is,the,process?,Tools?
WITH CORRECT ANSWERS
Omni-channel,Retailing,-,answer-
Retailers,that,are,fully,committed,to,engaging,customers,via,catalogs,,phone,calls,,websites
,,email,,internet,chatrooms,,social,media,sites,or,mobile,apps,,and,of,course,also,in,stores.,E
x.,Nordstorm
3,Retail,sources,of,supply,-,answer-Manufacturers,
‚,These,are,the,companies,that,actually,create,the,finished,goods.,Retailers,then,buy,the,goo
ds,and,that,retailer,is,responsible,for,distribution,and,storage.,Wholesalers,
–,These,organizations,purchase,goods,from,manufacturers.,Typically,,they,purchase,an,a
ssortment,of,goods,from,many,manufacturers,,thus,a,retail,company,could,purchase,all,of,th
eir,electronics,from,a,single,wholesaler,versus,having,to,purchase,from,each,individual,man
ufacturer.,Drop,shippers,
–,This,one,is,not,really,a,source,of,supply,,but,rather,an,organization,that,ties,manufacturer
s,and/or,wholesalers,directly,to,consumers.
Chargebacks,-,answer-
These,are,effectively,penalties,charged,by,retail,organizations,to,their,suppliers/
vendors,for,any,number,of,minor,and,major,supply,chain,offenses.
CPFR,(Collaborative,,Planning,,Forecasting,,Rescheduling),-,answer-
A,formalized,effort,by,supply,chain,partners,to,share,data,and,collectively,develop,forecasts,
in,an,effort,to,reduce,supply,chain,costs,through,better,planning.
VMI,(Vendor,Managed,Inventory),-,answer-
An,arrangement,where,retailers,allow,vendors,to,monitor,in-
store,inventories,,initiate,orders/
shipments,to,the,store,when,inventories,are,low,,and,also,bring,the,items,into,the,store,and,o
nto,the,shelf.
Last,Mile,-,answer-
In,supply,chain,the,last,mile,typically,refers,to,the,portion,of,the,supply,chain,between,the,fina
l,inventory,holding,facility,and,the,end,consumer.
, 4,types,of,retail,ownership,-,answer-
5,Independents.,One,store,,one,owner.,Usually,they,are,trying,to,satisfy,a,very,specialized,m
arket,or,locale.,Example:,Family,owned,corner,stores,,Boutique,store,that,is,run,by,the,owne
r.,Chains,–,Multiple,stores/facilities,,one,owner/company.,Example:,Home,Depot,,Wal-
Mart,,Costco,,Gap,,Macy’s,,Safeway,
(Amazon.com,probably,best,fits,this,category).,Franchises,
–,A,franchisor,owns,the,rights,to,a,company,and,the,name.,A,franchisee,is,allowed,to,open,
an,outlet,under,that,name.,The,franchisee,must,abide,by,the,rules,and,processes,of,the,fran
chise.,Examples:,Jiffy,Lube,,McDonald’s,,7-
eleven,,Buffalo,Wild,Wings,,Massage,Envy.,Cooperatives,
–Retailer,that,is,owned,by,its,customer,members.,These,organizations,typically,try,and,fit,t
he,very,special,needs,of,the,consumers,that,organized,the,cooperative.,Examples:,REI,
(Recreational,Equipment,Inc.”
Prototype,Stores,-,answer-
A,series,of,stores,that,have,common,design,,construction,and,layout
Rationalized,Retailing,-,answer-
This,retail,strategy,has,retail,chains,develop,rigid,control,structures,to,develop,and,manage,
processes,such,that,all,the,retail,outlets,are,managed,in,the,same,way.,Example:,Employee,
can,work,at,different,locations,without,much,change.
Planogram,-,answer-
·      ,A,map,of,where,every,product,goes,on,a,retail,store,shelf.
4,Store,security,issues,-,answer-Employees,
–,Managers,,store,employees,,and,potentially,vendors,
Store,Assets,–,Inventory,,cash,,store,property,Customers,and,their,
Assets,–,Store,visitors,,their,cars,and,also,any,other,personal,property,
Data,–,Company,,customer,,and,vendor,data
Goal,of,waiting,line,management,-,answer-•,Balance,the,cost,paid,by,the,customers,
(time),with,the,cost,paid,by,the,company,(money,paid,to,maintain,the,system)
Parts,of,a,waiting,line,system,-,answer-·      ,Input,Source,
‚This,is,the,population,of,people,that,might,want,service.,
Waiting,Line,–,The,area,in,which,customers,wait,for,service.,
Service,Facility,–,The,area,in,which,customers,actually,receive,service
4,Managerial,Considerations,in,Queues,-,answer-·      ,Customers,
‚,How,many,are,there?,How,quickly,are,they,arriving?,
The,Waiting,Lines,–,What,types,of,lines?,How,many,lines?,
Employees,–,Who’s,working,in,the,system?,How,many?,Skill,level,and,speed?,
Service,Facilities,–,How,effective,and,efficient,is,the,process?,Tools?
