SCM 300 EXAM 2 ASU DAVILA | LATEST
2024
Brick-and-Mortar Business - a business that operates in a physical store without an
internet presence
Online or E-tailing - All products and services are sold to customers through an online
website. Example: Amazon.com
Brick and Clicks - Companies that use both a physical store and the Web to sell their
products and services.
Clicks and Calls - 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 - 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 - manufacturers, wholesalers, drop shippers
drop shippers - 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 - 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) - 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) - 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 - the portion of the supply chain between the final inventory holding facility
and the end consumer
Prototype Stores - A series of stores that have common design, construction and
layout. Standardized plans that will work across many stores for chain retailers.
, 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. An employee would easily be able to work at almost any
store since everything is done the same way.
Planogram - A map of where every product goes on a retail store shelf.
Customers cost for waiting lines - Time
Company cost for waiting line - Money paid to maintain the line (employees)
Waiting line Input Source - The population of people that might want service
Waiting Line - The area in which customers wait for service
Waiting line Service Facility - The area in which customers actually receive service
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.
Finite Population of Customers - number of customers is limited
Balking - When a potential customer sees the line, but never joins the line because
they think it looks too long and/or too slow.
Reneging - When a customer joins the line, gets frustrated and leaves the line
λ - Lambda
Lambda - Number of customers arriving/unit of time
ex. 15 customers per hour
μ - Mu
Mu - Number of customers helped/unit of time
ex. 24 customers per hour
ρ - Rho
ρ=λ/μ - Percentage of time worker is busy
n1=ρ[λ/(μ-λ)] - Average number of customers in the line
t l =ρ[1/(μ-λ) - Average amount of time a customer waits in the line
2024
Brick-and-Mortar Business - a business that operates in a physical store without an
internet presence
Online or E-tailing - All products and services are sold to customers through an online
website. Example: Amazon.com
Brick and Clicks - Companies that use both a physical store and the Web to sell their
products and services.
Clicks and Calls - 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 - 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 - manufacturers, wholesalers, drop shippers
drop shippers - 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 - 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) - 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) - 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 - the portion of the supply chain between the final inventory holding facility
and the end consumer
Prototype Stores - A series of stores that have common design, construction and
layout. Standardized plans that will work across many stores for chain retailers.
, 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. An employee would easily be able to work at almost any
store since everything is done the same way.
Planogram - A map of where every product goes on a retail store shelf.
Customers cost for waiting lines - Time
Company cost for waiting line - Money paid to maintain the line (employees)
Waiting line Input Source - The population of people that might want service
Waiting Line - The area in which customers wait for service
Waiting line Service Facility - The area in which customers actually receive service
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.
Finite Population of Customers - number of customers is limited
Balking - When a potential customer sees the line, but never joins the line because
they think it looks too long and/or too slow.
Reneging - When a customer joins the line, gets frustrated and leaves the line
λ - Lambda
Lambda - Number of customers arriving/unit of time
ex. 15 customers per hour
μ - Mu
Mu - Number of customers helped/unit of time
ex. 24 customers per hour
ρ - Rho
ρ=λ/μ - Percentage of time worker is busy
n1=ρ[λ/(μ-λ)] - Average number of customers in the line
t l =ρ[1/(μ-λ) - Average amount of time a customer waits in the line
