Term
| Administered Vertical Marketing System |
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Definition
| Supply chain system in which there is no common ownership and no contractual relationships, but the dominant channel member controls the relationship |
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Term
| Advanced Shipping Notice (ASN) |
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Definition
| An electronic document that the supplier sends the retailer in advance of a shipment to tell the retailer exactly what they expect in the shipment |
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Term
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Definition
| The Process of going through the goods upon receipt to ensure they arrived undamaged and that merchandise ordered was received |
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Term
| Collaborative, planning, forecasting and replenishment (CPFR) |
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Definition
| Inventory management system that uses electronic data interchange (EDI) through which retailer sends info to a manufacturer |
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Term
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Definition
| The sharing of POS transaction data which allows retailers to sell merchandise on consignment; owned by manufacturer until sold by retailer |
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Term
| Contractual vertical marketing system |
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Definition
| Independent firms at different levels of supply chain join through contracts to obtain economies of scale and coordination and to reduce conflicts |
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Term
| Corporate Vertical Marketing system |
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Definition
| Parent company has complete control and can dictate priorities and objectives of supply chain |
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Term
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Definition
| Distribution center where vendors ship merchandise prepackaged and ready to sell; merchandise goes through staging rather than into storage |
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Term
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Definition
| Time between decision to place an order and the receipt of merchandise |
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Term
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Definition
| Person who coordinates deliveries to distribution areas |
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Term
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Definition
| Facility for the receipt, storage and redistribution of goods |
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Term
| Electronic Data Interchange (EDI) |
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Definition
| Computer-to-computer exchange of business documents from a retailer to a vendor in back |
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Term
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Definition
| Collaborative network that uses internet technology to link businesses with suppliers, customers and other businesses |
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Term
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Definition
| Items ready to be placed on selling floor immediately |
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Term
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Definition
| Contractual agreement between franchisor and franchisee to operate a business using a name and format developed and supported by franchisor |
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Term
| independent (conventional) supply chain |
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Definition
| A loose coalition of several independently owned and operated supply chain members—a manufacturer, a wholesaler, and a retailer—all attempting to satisfy their own objectives and maximize their own profits, often at the expense of the other members. |
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Term
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Definition
| A secure communication system contained within one company, such as between the firm's buyers and distribution centers |
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Term
| just-in-time inventory systems |
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Definition
| Inventory management systems designed to deliver less merchandise on a more frequent basis than traditional inventory systems; the firm gets the merchandise “just in time” for it to be used in the manufacture of another product, in the case of parts or components, or for sale when the customer wants it, in the case of consumer goods; also known as quick response (QR) systems in retailing., 473 |
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Term
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Definition
| The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller's store, ready for sale. |
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Term
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Definition
| The integration of two or more activities for the purpose of planning, implementing, and controlling the efficient flow of raw materials, in-process inventory, and finished goods from the point of origin to the point of consumption |
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Term
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Definition
| The set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption; consists of all the institutions and marketing activities in the marketing process |
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Term
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Definition
| The pick ticket is a document or 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
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Definition
| Strategy in which orders for merchandise are generated at the store level on the basis of demand data captured by point-of-sales terminals |
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Term
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Definition
| Strategy in which merchandise is allocated to stores on the basis of historical demand, the inventory position at the distribution center, and the stores' needs. |
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Term
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Definition
| An inventory management system used in retailing; merchandise is received just in time for sale when the customer wants it; see just-in-time (JIT) systems. |
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Term
| Radio frequency identification (RFID) tag |
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Definition
| Tiny computer chips that automatically transmit to a special scanner all the information about a container's contents or individual products. |
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Term
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Definition
| The process of recording the receipt of merchandise as it arrives at a distribution center or store. |
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Term
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Definition
| By sharing the data in the retailer’s data warehouse and communicating that information via EDI, the manufacturer determines a reorder point —a level of inventory at which more merchandise is required. |
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Term
| Strategic relationship (partnering relationship) |
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Definition
| A supply chain relationship that the members are committed to maintaining long term, investing in opportunities that are mutually beneficial; requires mutual trust, open communication, common goals, and credible commitments. |
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Term
| Supply chain conflict (channel conflict) |
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Definition
| Results when supply chain members are not in agreement about their goals, roles, or rewards. |
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Term
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Definition
| Refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless value chain in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, as well as to minimize systemwide costs while satisfying the service levels their customers require. |
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Term
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Definition
| Creating price and identification labels and placing them on the merchandise. |
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Term
| Universal Product Code (UPC) |
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Definition
| The black-and-white bar code found on most merchandise |
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Term
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Definition
| Vendor-managed inventory (VMI) is an approach for improving supply chain efficiency in which the manufacturer is responsible for maintaining the retailer’s inventory levels in each of its stores |
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Term
| Vertical marketing system |
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Definition
| A supply chain in which the members act as a unified system; there are three types: administrated, contractual, and corporate |
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