SCM 300 Exam 2 ASU UPDATED ACTUAL Questions and CORRECT Answers
Retailers that are fully committed to engaging customers
via catalogs, phone calls, websites, email, internet chat-
Omni-channel Retailing
rooms, social media sites or mobile apps, and of course
also in stores. Ex. Nordstorm
Manufacturers ‚ These are the companies that actually cre-
ate the finished goods. Retailers then buy the goods and
that retailer is responsible for distribution and storage.
Wholesalers – These organizations purchase goods from
manufacturers. Typically, they purchase an assortment of
3 Retail sources of supply goods from many manufacturers, thus a retail compa-
ny could purchase all of their electronics from a single
wholesaler versus having to purchase from each individual
manufacturer. Drop shippers – This one is not really a
source of supply, but rather an organization that ties man-
ufacturers and/or wholesalers directly to consumers.
These are effectively penalties charged by retail organiza-
Chargebacks tions to their suppliers/vendors for any number of minor
and major supply chain offenses.
A formalized effort by supply chain partners to share data
CPFR (Collaborative, Planning, Forecasting, Rescheduling) and collectively develop forecasts in an effort to reduce
supply chain costs through better planning.
An arrangement where retailers allow vendors to monitor
in-store inventories, initiate orders/shipments to the store
VMI (Vendor Managed Inventory)
when inventories are low, and also bring the items into the
store and onto the shelf.
In supply chain the last mile typically refers to the portion
Last Mile of the supply chain between the final inventory holding
facility and the end consumer.
4 types of retail ownership
,5 Independents. One store, one owner. Usually they are
trying to satisfy a very specialized market or locale. Ex-
ample: Family owned corner stores, Boutique store that
is run by the owner. 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 fran-
chisee must abide by the rules and processes of the fran-
chise. Examples: Jiffy Lube, McDonald’s, 7-eleven, Buf-
falo Wild Wings, Massage Envy. Cooperatives –Retailer
that is owned by its customer members. These organi-
zations typically try and fit the very special needs of the
consumers that organized the cooperative. Examples: REI
(Recreational Equipment Inc.”
A series of stores that have common design, construction
Prototype Stores
and layout
This retail strategy has retail chains develop rigid control
structures to develop and manage processes such that all
Rationalized Retailing the retail outlets are managed in the same way. Example:
Employee can work at different locations without much
change.
¬¬†¬†¬†¬†¬†¬† A map of where every product goes on
Planogram
a retail store shelf.
Employees – Managers, store employees, and potentially
vendors
4 Store security issues Store Assets – Inventory, cash, store property Customers
and their
Assets – Store visitors, their cars and also any other per-
, sonal property
Data – Company, customer, and vendor data
• Balance the cost paid by the customers (time) with the
Goal of waiting line management cost paid by the company (money paid to maintain the
system)
¬¬†¬†¬†¬†¬†¬† Input Source ‚This is the population of
people that might want service.
Waiting Line – The area in which customers wait for
Parts of a waiting line system
service.
Service Facility – The area in which customers actually
receive service
¬¬†¬†¬†¬†¬†¬† Customers ‚ How many are there? How
quickly are they arriving?
The Waiting Lines – What types of lines? How many lines?
4 Managerial Considerations in Queues Employees – Who’s working in the system? How many?
Skill level and speed?
Service Facilities – How effective and eflcient is the
process? Tools?
¬¬†¬†¬†¬†¬†¬† Queue ‚ Line. Channel ‚ Line. Here it
often refers to the number of lines available at each step.
Phase – A single step in a process. Example: Phases
Basic waiting line terminology
in college enrollment might include: Application process,
Registration, Orientation, Scheduling your courses for the
first semester.
The number of possible customers that may come into the
store is very high (or unlimited). When a customer enters
Infinite population of customers
the system, the odds of another entering the system are
not impacted in any significant manner.
Finite population of customers
Retailers that are fully committed to engaging customers
via catalogs, phone calls, websites, email, internet chat-
Omni-channel Retailing
rooms, social media sites or mobile apps, and of course
also in stores. Ex. Nordstorm
Manufacturers ‚ These are the companies that actually cre-
ate the finished goods. Retailers then buy the goods and
that retailer is responsible for distribution and storage.
Wholesalers – These organizations purchase goods from
manufacturers. Typically, they purchase an assortment of
3 Retail sources of supply goods from many manufacturers, thus a retail compa-
ny could purchase all of their electronics from a single
wholesaler versus having to purchase from each individual
manufacturer. Drop shippers – This one is not really a
source of supply, but rather an organization that ties man-
ufacturers and/or wholesalers directly to consumers.
These are effectively penalties charged by retail organiza-
Chargebacks tions to their suppliers/vendors for any number of minor
and major supply chain offenses.
A formalized effort by supply chain partners to share data
CPFR (Collaborative, Planning, Forecasting, Rescheduling) and collectively develop forecasts in an effort to reduce
supply chain costs through better planning.
An arrangement where retailers allow vendors to monitor
in-store inventories, initiate orders/shipments to the store
VMI (Vendor Managed Inventory)
when inventories are low, and also bring the items into the
store and onto the shelf.
In supply chain the last mile typically refers to the portion
Last Mile of the supply chain between the final inventory holding
facility and the end consumer.
4 types of retail ownership
,5 Independents. One store, one owner. Usually they are
trying to satisfy a very specialized market or locale. Ex-
ample: Family owned corner stores, Boutique store that
is run by the owner. 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 fran-
chisee must abide by the rules and processes of the fran-
chise. Examples: Jiffy Lube, McDonald’s, 7-eleven, Buf-
falo Wild Wings, Massage Envy. Cooperatives –Retailer
that is owned by its customer members. These organi-
zations typically try and fit the very special needs of the
consumers that organized the cooperative. Examples: REI
(Recreational Equipment Inc.”
A series of stores that have common design, construction
Prototype Stores
and layout
This retail strategy has retail chains develop rigid control
structures to develop and manage processes such that all
Rationalized Retailing the retail outlets are managed in the same way. Example:
Employee can work at different locations without much
change.
¬¬†¬†¬†¬†¬†¬† A map of where every product goes on
Planogram
a retail store shelf.
Employees – Managers, store employees, and potentially
vendors
4 Store security issues Store Assets – Inventory, cash, store property Customers
and their
Assets – Store visitors, their cars and also any other per-
, sonal property
Data – Company, customer, and vendor data
• Balance the cost paid by the customers (time) with the
Goal of waiting line management cost paid by the company (money paid to maintain the
system)
¬¬†¬†¬†¬†¬†¬† Input Source ‚This is the population of
people that might want service.
Waiting Line – The area in which customers wait for
Parts of a waiting line system
service.
Service Facility – The area in which customers actually
receive service
¬¬†¬†¬†¬†¬†¬† Customers ‚ How many are there? How
quickly are they arriving?
The Waiting Lines – What types of lines? How many lines?
4 Managerial Considerations in Queues Employees – Who’s working in the system? How many?
Skill level and speed?
Service Facilities – How effective and eflcient is the
process? Tools?
¬¬†¬†¬†¬†¬†¬† Queue ‚ Line. Channel ‚ Line. Here it
often refers to the number of lines available at each step.
Phase – A single step in a process. Example: Phases
Basic waiting line terminology
in college enrollment might include: Application process,
Registration, Orientation, Scheduling your courses for the
first semester.
The number of possible customers that may come into the
store is very high (or unlimited). When a customer enters
Infinite population of customers
the system, the odds of another entering the system are
not impacted in any significant manner.
Finite population of customers
