IDIS 240 EXAM 1 VESTAL UPDATED ACTUAL QUESTIONS AND CORRECT
ANSWERS
OEM Original Equipment Manufacturer - buys the product and "rebrands" to sell as their
own with warranty
MRO Maintenance Repair Operation - people who fix something with a problem
Contractor Person who provides supplies or service under contract
, Breaking bulk Shipping something in individual components
3PL 3rd Party Logistics Provider - specializes in warehousing and transportation
services that customize to customers based on market conditions
RFID Radio Frequency Identification Tags
What is supply chain management? A management system that coordinates and integrates all the activities performed
by supply chain members into a seamless process, from the source to the point of
consumption, resulting in enhanced customer and economic value.
Why is a supply chain needed? -inadequate finances for certain functions
-product assortment
-"contact efficiency"
What are the 5 specific service outputs -selling the product
-inventory on hand
-credit extending for customers
-transportation to customer's location
-servicing such as assembling product
Why do distributors have channel power? (3) -they can economically provide the services needed to get the product to the
consumer
-they can anticipate future trends and future changes
-servicing and providing aftermarket support
What are the trends benefitting distributors? (4) -information of trends is becoming more valuable
-JIT inventory always needs to be ready
-mass customization of products
-reduction of vendors
What are the types of distribution? (3) -Exclusive - one Maserati dealer
-Selective - few Rolex dealers
-Intensive - many Coca-Cola dealers
Define "product-based" and "customer-based" -Product-based - buy off what will make a profit; old-fashioned
purchasing. -Customer-based - buy based off what the customer needs
Define receiving. Must avoid error and be done in a timely manner
Define "counter-sales", "inside sales", and "outside sales." -Counter-sales - interaction with a counter and display
-Inside-sales - no face to face interaction; difficult to sell
-Outside-sales - going to the customers place of business
When is a sale completed? A sale is completed once the product is bought and utilized.
ANSWERS
OEM Original Equipment Manufacturer - buys the product and "rebrands" to sell as their
own with warranty
MRO Maintenance Repair Operation - people who fix something with a problem
Contractor Person who provides supplies or service under contract
, Breaking bulk Shipping something in individual components
3PL 3rd Party Logistics Provider - specializes in warehousing and transportation
services that customize to customers based on market conditions
RFID Radio Frequency Identification Tags
What is supply chain management? A management system that coordinates and integrates all the activities performed
by supply chain members into a seamless process, from the source to the point of
consumption, resulting in enhanced customer and economic value.
Why is a supply chain needed? -inadequate finances for certain functions
-product assortment
-"contact efficiency"
What are the 5 specific service outputs -selling the product
-inventory on hand
-credit extending for customers
-transportation to customer's location
-servicing such as assembling product
Why do distributors have channel power? (3) -they can economically provide the services needed to get the product to the
consumer
-they can anticipate future trends and future changes
-servicing and providing aftermarket support
What are the trends benefitting distributors? (4) -information of trends is becoming more valuable
-JIT inventory always needs to be ready
-mass customization of products
-reduction of vendors
What are the types of distribution? (3) -Exclusive - one Maserati dealer
-Selective - few Rolex dealers
-Intensive - many Coca-Cola dealers
Define "product-based" and "customer-based" -Product-based - buy off what will make a profit; old-fashioned
purchasing. -Customer-based - buy based off what the customer needs
Define receiving. Must avoid error and be done in a timely manner
Define "counter-sales", "inside sales", and "outside sales." -Counter-sales - interaction with a counter and display
-Inside-sales - no face to face interaction; difficult to sell
-Outside-sales - going to the customers place of business
When is a sale completed? A sale is completed once the product is bought and utilized.
