SCM 300 Exam 2 V2 (Latest Update)
verified Questions & Answers | Already
Graded A (100% correct) – Arizona State
University
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.
, SCM 300 Exam 2 V2 (Latest Update)
verified Questions & Answers | Already
Graded A (100% correct) – Arizona State
University
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
, SCM 300 Exam 2 V2 (Latest Update)
verified Questions & Answers | Already
Graded A (100% correct) – Arizona State
University
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 – 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
• Balance the cost paid by the customers (time) with the cost paid by the company (money
paid to maintain the system)
, SCM 300 Exam 2 V2 (Latest Update)
verified Questions & Answers | Already
Graded A (100% correct) – Arizona State
University
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 system, the odds of another entering the system are not impacted in
any significant manner.
verified Questions & Answers | Already
Graded A (100% correct) – Arizona State
University
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.
, SCM 300 Exam 2 V2 (Latest Update)
verified Questions & Answers | Already
Graded A (100% correct) – Arizona State
University
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
, SCM 300 Exam 2 V2 (Latest Update)
verified Questions & Answers | Already
Graded A (100% correct) – Arizona State
University
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 – 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
• Balance the cost paid by the customers (time) with the cost paid by the company (money
paid to maintain the system)
, SCM 300 Exam 2 V2 (Latest Update)
verified Questions & Answers | Already
Graded A (100% correct) – Arizona State
University
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 system, the odds of another entering the system are not impacted in
any significant manner.
