SCM 300 Exam 2 ASU Davila
QUESTIONS 100% SOLVED!!
Brick-and-Mortar Business - ANSWERa business that operates in a physical store
without an internet presence
Online or E-tailing - ANSWERAll products and services are sold to customers
through an online website. Example: Amazon.com
Omni-channel retailing - ANSWERRetailers 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 - ANSWERmanufacturers, wholesalers, drop shippers
drop shippers - ANSWERAn 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 - ANSWEReffectively penalties charged by retail organizations to their
suppliers/vendors for any number of minor and major supply chain offenses
Brick and Clicks - ANSWERCompanies that use both a physical store and the Web
to sell their products and services.
Clicks and Calls - ANSWERIn addition to taking orders via the company website,
some companies will also offer sales via the phone. Examples: Lands' End and L.L.
Bean
Collaborative Planning, Forecasting, and Replenishment (CPFR) - ANSWERA
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) - ANSWERAn 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 - ANSWERthe portion of the supply chain between the final inventory
holding facility and the end consumer
Prototype Stores - ANSWERA series of stores that have common design,
construction and layout. Standardized plans that will work across many stores for
chain retailers.
Rationalized Retailing - ANSWERThis 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 - ANSWERA map of where every product goes on a retail store shelf.
Customers cost for waiting lines - ANSWERTime
Company cost for waiting line - ANSWERMoney paid to maintain the line
(employees)
Waiting line Input Source - ANSWERThe population of people that might want
service
Waiting Line - ANSWERThe area in which customers wait for service
Waiting line Service Facility - ANSWERThe area in which customers actually receive
service
Infinite population of customers - ANSWERThe 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 - ANSWERnumber of customers is limited
Balking - ANSWERWhen a potential customer sees the line, but never joins the line
because they think it looks too long and/or too slow.
Reneging - ANSWERWhen a customer joins the line, gets frustrated and leaves the
line
λ - ANSWERLambda
Lambda - ANSWERNumber of customers arriving/unit of time
ex. 15 customers per hour
μ - ANSWERMu
Mu - ANSWERNumber of customers helped/unit of time
ex. 24 customers per hour
ρ - ANSWERRho
ρ=λ/μ - ANSWERPercentage of time worker is busy
n1=ρ[λ/(μ-λ)] - ANSWERAverage number of customers in the line
t l =ρ[1/(μ-λ) - ANSWERAverage amount of time a customer waits in the line
n s =λ/(μ-λ) - ANSWERAverage number of customers in the system
QUESTIONS 100% SOLVED!!
Brick-and-Mortar Business - ANSWERa business that operates in a physical store
without an internet presence
Online or E-tailing - ANSWERAll products and services are sold to customers
through an online website. Example: Amazon.com
Omni-channel retailing - ANSWERRetailers 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 - ANSWERmanufacturers, wholesalers, drop shippers
drop shippers - ANSWERAn 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 - ANSWEReffectively penalties charged by retail organizations to their
suppliers/vendors for any number of minor and major supply chain offenses
Brick and Clicks - ANSWERCompanies that use both a physical store and the Web
to sell their products and services.
Clicks and Calls - ANSWERIn addition to taking orders via the company website,
some companies will also offer sales via the phone. Examples: Lands' End and L.L.
Bean
Collaborative Planning, Forecasting, and Replenishment (CPFR) - ANSWERA
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) - ANSWERAn 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 - ANSWERthe portion of the supply chain between the final inventory
holding facility and the end consumer
Prototype Stores - ANSWERA series of stores that have common design,
construction and layout. Standardized plans that will work across many stores for
chain retailers.
Rationalized Retailing - ANSWERThis 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 - ANSWERA map of where every product goes on a retail store shelf.
Customers cost for waiting lines - ANSWERTime
Company cost for waiting line - ANSWERMoney paid to maintain the line
(employees)
Waiting line Input Source - ANSWERThe population of people that might want
service
Waiting Line - ANSWERThe area in which customers wait for service
Waiting line Service Facility - ANSWERThe area in which customers actually receive
service
Infinite population of customers - ANSWERThe 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 - ANSWERnumber of customers is limited
Balking - ANSWERWhen a potential customer sees the line, but never joins the line
because they think it looks too long and/or too slow.
Reneging - ANSWERWhen a customer joins the line, gets frustrated and leaves the
line
λ - ANSWERLambda
Lambda - ANSWERNumber of customers arriving/unit of time
ex. 15 customers per hour
μ - ANSWERMu
Mu - ANSWERNumber of customers helped/unit of time
ex. 24 customers per hour
ρ - ANSWERRho
ρ=λ/μ - ANSWERPercentage of time worker is busy
n1=ρ[λ/(μ-λ)] - ANSWERAverage number of customers in the line
t l =ρ[1/(μ-λ) - ANSWERAverage amount of time a customer waits in the line
n s =λ/(μ-λ) - ANSWERAverage number of customers in the system
