SCM 300 FINAL EXAM QUESTIONS AND
DETAILED SOLUTIONS COMPLETE
PREPARATION GUIDE
●● Online or E-tailing
Answer: All products and services are sold to customers through an
online website. Example: Amazon.com
●● Brick and Clicks
Answer: Companies that use both a physical store and the Web to sell
their products and services.
●● Clicks and Calls
Answer: In addition to taking orders via the company website, some
companies will also offer sales via the phone. Examples: Lands' End and
L.L. Bean
●● Omni-channel retailing
Answer: 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.
●● Retail sources of supply
,Answer: manufacturers, wholesalers, drop shippers
●● drop shippers
Answer: An 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
Answer: effectively penalties charged by retail organizations to their
suppliers/vendors for any number of minor and major supply chain
offenses
●● Collaborative Planning, Forecasting, and Replenishment (CPFR)
Answer: A 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)
Answer: 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
, Answer: the portion of the supply chain between the final inventory
holding facility and the end consumer
●● Prototype Stores
Answer: A series of stores that have common design, construction and
layout. Standardized plans that will work across many stores for chain
retailers.
●● Rationalized Retailing
Answer: 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. An employee would easily be able to
work at almost any store since everything is done the same way.
●● Planogram
Answer: A map of where every product goes on a retail store shelf.
●● Customers cost for waiting lines
Answer: Time
●● Company cost for waiting line
Answer: Money paid to maintain the line (employees)
●● Waiting line Input Source
DETAILED SOLUTIONS COMPLETE
PREPARATION GUIDE
●● Online or E-tailing
Answer: All products and services are sold to customers through an
online website. Example: Amazon.com
●● Brick and Clicks
Answer: Companies that use both a physical store and the Web to sell
their products and services.
●● Clicks and Calls
Answer: In addition to taking orders via the company website, some
companies will also offer sales via the phone. Examples: Lands' End and
L.L. Bean
●● Omni-channel retailing
Answer: 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.
●● Retail sources of supply
,Answer: manufacturers, wholesalers, drop shippers
●● drop shippers
Answer: An 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
Answer: effectively penalties charged by retail organizations to their
suppliers/vendors for any number of minor and major supply chain
offenses
●● Collaborative Planning, Forecasting, and Replenishment (CPFR)
Answer: A 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)
Answer: 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
, Answer: the portion of the supply chain between the final inventory
holding facility and the end consumer
●● Prototype Stores
Answer: A series of stores that have common design, construction and
layout. Standardized plans that will work across many stores for chain
retailers.
●● Rationalized Retailing
Answer: 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. An employee would easily be able to
work at almost any store since everything is done the same way.
●● Planogram
Answer: A map of where every product goes on a retail store shelf.
●● Customers cost for waiting lines
Answer: Time
●● Company cost for waiting line
Answer: Money paid to maintain the line (employees)
●● Waiting line Input Source
