Term
| Term: Set of approaches and techniques that firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless operation |
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| Term: Firms that buy products from manufacturers and resell them to retailers |
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| Term: Set of institutions that transfer the ownership of and move goods from production to consumption |
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| Term: Integration of two or more activities for the purpose of planning, implementing, and controlling the efficient flow of raw materials to the point of consumption |
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| Term: Facility for the receipt, storage, and redistribution of goods to company stores or customers |
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| Term: Tag that is individual for each product |
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| Universal Product Code (UPC) |
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| Term: Electronic document supplier sends retailer in advance of a shipment to tell the retailer exactly what to expect in the shipment |
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| Advanced shipping notice (ASN) |
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| Term: Approach for improving supply chain efficiency in which the manufacturer is responsible for maintaining retailers' inventory |
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| Term: Manufacturer owns merchandise until it is sold by the retailer |
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| Term: Sharing of forecast and related business info and collaborative planning between retailers and vendors to improve supply chain efficiency and product replenishment |
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| Collaborative planning, forecasting, and replenishment (CPFR) |
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| Term: Supply chain in which orders for merchandise are generated on the basis of sales data captured by POS terminals |
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| Term: Merchandise is allocated to stores on the basis of forecasted demand |
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| Term: Person who coordinates deliveries to the distribution center |
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| Term: Process of recording the receipt of merchandise arriving at a distribution center |
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| Term: Process of going through the goods upon receipt to make sure they arrived undamaged |
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| Term: Tiny computer chips that auto transmit to a special scanner all the info about a container's contents |
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| Radio Frequency ID (RFID) tags |
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| Term: Merchandise cartons prepackaged by vendor for a specific store |
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| Term: Merchandise ready to be placed on the selling floor |
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| Term: Affixing price and ID tags to the merchandise |
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| Term: Document/display on a screen in a forklift truck indicating how much of each item to get from specific storage areas |
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| Term: Inventory mgmt system designed to deliver less merchandise on a more frequent basis than traditional inventory |
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| Just-in-time inventory systems |
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| Term: Amount of lead time between recognition that an order needs to be placed and the arrival |
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| Term: Several independent members - manufacturer, wholesaler, retailer - each attempt to satisfy their own objectives at the expense of other members |
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| Independent/conventional supply chain |
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| Term: Ability to have control over another's actions |
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| Term: Power to offer rewards as incentives |
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| Term: Power to punish/threaten to punish as an incentive |
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| Term: Power of being liked/admired |
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| Term: Power of being an expert |
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| Term: Power stemming from having info |
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| Term: Behaving because of a contractual agreement |
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| Term: Contractual agreement between a franchisor and franchisee that allows franchisee to operate a retail outlet using franchisor's name and format |
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| What are the five elements of a strategic relationship? |
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Definition
-Mutual trust
-Open communication
-Common goals
-Interdependence
-Credible commitments |
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Term
| What are the three strategies for choosing to sell retail? |
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Definition
-Intensive
-Exclusive
-Selective |
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Term
| Term: Strategy of having a product placed in any store that will sell it |
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| Term: Strategy of having only one store offer your product |
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| Term: Strategy of having a few stores offer your product |
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| Term: A retailer experiences a decrease in physical sales when it begins selling online |
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| Term: Set of business activities that add value to products/services sold to customers for personal/family use |
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| Term: Selling in more than one channel |
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| Term: # of channel members to use at each level of the marketing channel |
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| Term: Self-service retail food store offering groceries and some nonfood items |
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| Term: Unique inventory items |
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| Term: Large stores that combine a supermarket with a full-line discount store |
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| Term: Large retailers offering limited and irregular assortment of food and general merchandise, little service, and low prices to business/public |
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