SCM 300 FINAL EXAM SCRIPT 2026 FULL
QUESTIONS AND CORRECT ANSWERS
GRADED A+
◉ 3 Retail sources of supply. Answer: 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. Answer: 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). Answer:
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). 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: 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. Answer: 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. Answer: A series of stores that have common
design, construction and layout
, ◉ 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. Example:
Employee can work at different locations without much change.
◉ Planogram. Answer: ¬∑¬†¬†¬†¬†¬†¬† A map of where every
product goes on a retail store shelf.
◉ 4 Store security issues. Answer: 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. Answer: ‚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. Answer: ¬∑¬†¬†¬†¬†¬†¬† Input
Source ‚This is the population of people that might want service.
Waiting Line – The area in which customers wait for service.
QUESTIONS AND CORRECT ANSWERS
GRADED A+
◉ 3 Retail sources of supply. Answer: 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. Answer: 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). Answer:
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). 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: 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. Answer: 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. Answer: A series of stores that have common
design, construction and layout
, ◉ 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. Example:
Employee can work at different locations without much change.
◉ Planogram. Answer: ¬∑¬†¬†¬†¬†¬†¬† A map of where every
product goes on a retail store shelf.
◉ 4 Store security issues. Answer: 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. Answer: ‚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. Answer: ¬∑¬†¬†¬†¬†¬†¬† Input
Source ‚This is the population of people that might want service.
Waiting Line – The area in which customers wait for service.
