SCM 300 Exam 2 ASU Questions and Answers
Omni-channel Retailing - ✅✅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. Ex. Nordstorm
3 Retail sources of supply - ✅✅Manufacturers ‚ These are the companies that
actually create 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
goods from many manufacturers, thus a retail company 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 manufacturers and/or wholesalers
directly to consumers.
Chargebacks - ✅✅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) - ✅✅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) - ✅✅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 - ✅✅In supply chain the last mile typically refers to the portion 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. Example:
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 franchisee must
abide by the rules and processes of the franchise. 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 the very special needs of the consumers that organized the
cooperative. Examples: REI (Recreational Equipment Inc.”
Prototype Stores - ✅✅A series of stores that have common design,
construction and layout
Rationalized Retailing - ✅✅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 - ✅✅¬∑¬†¬†¬†¬†¬†¬† A map of where every product goes on a
retail store shelf.
4 Store security issues - ✅✅Employees ‚Äì 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 - ✅✅‚Ä¢ 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 - ✅✅¬∑¬†¬†¬†¬†¬†¬† 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 - ✅✅¬∑¬†¬†¬†¬†¬†¬† 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?
Basic waiting line terminology - ✅✅¬∑¬†¬†¬†¬†¬†¬† 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 in college enrollment might include:
Application process, Registration, Orientation, Scheduling your courses for the
first semester.
Infinite population of customers - ✅✅The number of possible customers that
may come into the store is very high (or unlimited). When a customer enters the
Omni-channel Retailing - ✅✅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. Ex. Nordstorm
3 Retail sources of supply - ✅✅Manufacturers ‚ These are the companies that
actually create 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
goods from many manufacturers, thus a retail company 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 manufacturers and/or wholesalers
directly to consumers.
Chargebacks - ✅✅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) - ✅✅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) - ✅✅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 - ✅✅In supply chain the last mile typically refers to the portion 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. Example:
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 franchisee must
abide by the rules and processes of the franchise. 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 the very special needs of the consumers that organized the
cooperative. Examples: REI (Recreational Equipment Inc.”
Prototype Stores - ✅✅A series of stores that have common design,
construction and layout
Rationalized Retailing - ✅✅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 - ✅✅¬∑¬†¬†¬†¬†¬†¬† A map of where every product goes on a
retail store shelf.
4 Store security issues - ✅✅Employees ‚Äì 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 - ✅✅‚Ä¢ 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 - ✅✅¬∑¬†¬†¬†¬†¬†¬† 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 - ✅✅¬∑¬†¬†¬†¬†¬†¬† 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?
Basic waiting line terminology - ✅✅¬∑¬†¬†¬†¬†¬†¬† 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 in college enrollment might include:
Application process, Registration, Orientation, Scheduling your courses for the
first semester.
Infinite population of customers - ✅✅The number of possible customers that
may come into the store is very high (or unlimited). When a customer enters the
