SCM 300 Exam 2 ASU Davila Questions And
Answers With Complete Solutions.
Brick-and-Mortar Business - CORRECT ANSWER: a business that
operates in a physical store without an internet presence
Online or E-tailing - CORRECT ANSWER: All products and services are
sold to customers through an online website. Example: Amazon.com
Brick and Clicks - CORRECT ANSWER: Companies that use both a
physical store and the Web to sell their products and services.
Clicks and Calls - CORRECT ANSWER: In addition to taking orders via
the company website, some companies will also offer sales via the
phone. Examples: Lands' End and L.L. Bean
Omni-channel retailing - CORRECT 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.
Retail sources of supply - CORRECT ANSWER: manufacturers,
wholesalers, drop shippers
drop shippers - CORRECT ANSWER: An organization that ties
manufactures and/or wholesalers directly to consumers. They never
posses the product, they just take orders to fulfill by another party.
,Chargebacks - CORRECT ANSWER: effectively penalties charged by
retail organizations to their suppliers/vendors for any number of minor
and major supply chain offenses
Collaborative Planning, Forecasting, and Replenishment (CPFR) -
CORRECT ANSWER: A formalized effort by supply chain partners to
share data and collectively develop forecast in an attempt to reduce
supply chain cost through better planning
vendor-managed inventory (VMI) - CORRECT 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 onto the shelf.
Last Mile - CORRECT ANSWER: the portion of the supply chain
between the final inventory holding facility and the end consumer
Prototype Stores - CORRECT ANSWER: A series of stores that have
common design, construction and layout. Standardized plans that will
work across many stores for chain retailers.
Rationalized Retailing - CORRECT 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.
An employee would easily be able to work at almost any store since
everything is done the same way.
Planogram - CORRECT ANSWER: A map of where every product goes
on a retail store shelf.
Customers cost for waiting lines - CORRECT ANSWER: Time
,Company cost for waiting line - CORRECT ANSWER: Money paid to
maintain the line (employees)
Waiting line Input Source - CORRECT ANSWER: The population of
people that might want service
Waiting Line - CORRECT ANSWER: The area in which customers wait
for service
Waiting line Service Facility - CORRECT ANSWER: The area in which
customers actually receive service
Infinite population of customers - CORRECT ANSWER: The number of
possible customers that may come into the store is very high (or
unlimited). When a customer enters the system, the odds of another
entering the system are not impacted in any significant manner.
Finite Population of Customers - CORRECT ANSWER: number of
customers is limited
Balking - CORRECT ANSWER: When a potential customer sees the
line, but never joins the line because they think it looks too long and/or
too slow.
Reneging - CORRECT ANSWER: When a customer joins the line, gets
frustrated and leaves the line
λ - CORRECT ANSWER: Lambda
Lambda - CORRECT ANSWER: Number of customers arriving/unit of
time
, ex. 15 customers per hour
μ - CORRECT ANSWER: Mu
Mu - CORRECT ANSWER: Number of customers helped/unit of time
ex. 24 customers per hour
ρ - CORRECT ANSWER: Rho
ρ=λ/μ - CORRECT ANSWER: Percentage of time worker is busy
n1=ρ[λ/(μ-λ)] - CORRECT ANSWER: Average number of customers in
the line
t l =ρ[1/(μ-λ) - CORRECT ANSWER: Average amount of time a
customer waits in the line
n s =λ/(μ-λ) - CORRECT ANSWER: Average number of customers in
the system
ρn=(1-ρ)ρ^n - CORRECT ANSWER: Probability there are n customers
in the system
Order size required=(Actual Demand)/(Proportion of Acceptable Product
per Order) - CORRECT ANSWER: Shrinkage Calculation. Must be
performed at every stage of the supply chain in upstream direction
(customer back to manufacturer)
Answers With Complete Solutions.
Brick-and-Mortar Business - CORRECT ANSWER: a business that
operates in a physical store without an internet presence
Online or E-tailing - CORRECT ANSWER: All products and services are
sold to customers through an online website. Example: Amazon.com
Brick and Clicks - CORRECT ANSWER: Companies that use both a
physical store and the Web to sell their products and services.
Clicks and Calls - CORRECT ANSWER: In addition to taking orders via
the company website, some companies will also offer sales via the
phone. Examples: Lands' End and L.L. Bean
Omni-channel retailing - CORRECT 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.
Retail sources of supply - CORRECT ANSWER: manufacturers,
wholesalers, drop shippers
drop shippers - CORRECT ANSWER: An organization that ties
manufactures and/or wholesalers directly to consumers. They never
posses the product, they just take orders to fulfill by another party.
,Chargebacks - CORRECT ANSWER: effectively penalties charged by
retail organizations to their suppliers/vendors for any number of minor
and major supply chain offenses
Collaborative Planning, Forecasting, and Replenishment (CPFR) -
CORRECT ANSWER: A formalized effort by supply chain partners to
share data and collectively develop forecast in an attempt to reduce
supply chain cost through better planning
vendor-managed inventory (VMI) - CORRECT 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 onto the shelf.
Last Mile - CORRECT ANSWER: the portion of the supply chain
between the final inventory holding facility and the end consumer
Prototype Stores - CORRECT ANSWER: A series of stores that have
common design, construction and layout. Standardized plans that will
work across many stores for chain retailers.
Rationalized Retailing - CORRECT 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.
An employee would easily be able to work at almost any store since
everything is done the same way.
Planogram - CORRECT ANSWER: A map of where every product goes
on a retail store shelf.
Customers cost for waiting lines - CORRECT ANSWER: Time
,Company cost for waiting line - CORRECT ANSWER: Money paid to
maintain the line (employees)
Waiting line Input Source - CORRECT ANSWER: The population of
people that might want service
Waiting Line - CORRECT ANSWER: The area in which customers wait
for service
Waiting line Service Facility - CORRECT ANSWER: The area in which
customers actually receive service
Infinite population of customers - CORRECT ANSWER: The number of
possible customers that may come into the store is very high (or
unlimited). When a customer enters the system, the odds of another
entering the system are not impacted in any significant manner.
Finite Population of Customers - CORRECT ANSWER: number of
customers is limited
Balking - CORRECT ANSWER: When a potential customer sees the
line, but never joins the line because they think it looks too long and/or
too slow.
Reneging - CORRECT ANSWER: When a customer joins the line, gets
frustrated and leaves the line
λ - CORRECT ANSWER: Lambda
Lambda - CORRECT ANSWER: Number of customers arriving/unit of
time
, ex. 15 customers per hour
μ - CORRECT ANSWER: Mu
Mu - CORRECT ANSWER: Number of customers helped/unit of time
ex. 24 customers per hour
ρ - CORRECT ANSWER: Rho
ρ=λ/μ - CORRECT ANSWER: Percentage of time worker is busy
n1=ρ[λ/(μ-λ)] - CORRECT ANSWER: Average number of customers in
the line
t l =ρ[1/(μ-λ) - CORRECT ANSWER: Average amount of time a
customer waits in the line
n s =λ/(μ-λ) - CORRECT ANSWER: Average number of customers in
the system
ρn=(1-ρ)ρ^n - CORRECT ANSWER: Probability there are n customers
in the system
Order size required=(Actual Demand)/(Proportion of Acceptable Product
per Order) - CORRECT ANSWER: Shrinkage Calculation. Must be
performed at every stage of the supply chain in upstream direction
(customer back to manufacturer)
