MDSE 2750 Consumers in a Global Market Ch. 9-12
Impact of Technology - ANS-Chapter Nine
Technological innovations such as smartphoes, tablets, interactive home shopping, digital TV,
and RFID apply to product development, logistics and retailing, leading to a higher quality of
product and services and new consumption in domestic as well as international markets. -
ANS-Technological innovations such as smartphoes, tablets, interactive home shopping, digital
TV, and RFID apply to product development, logistics and retailing, leading to a higher quality of
product and services and new consumption in domestic as well as international markets.
employs technique from molecular engineering to improve fabric performance, and the creation
of "smart" fabric etc - ANS-Nanotechnology
- Enormous inventories carried by textile mills, apparel manufacturers, and retailer can be
reduced.
- It should be possible to reduce incidences of forced markdowns that result from orders of
goods that fail to sell as expected.
- The third area where QR can result in cost savings involves " stock outs." or situations where
business is lost because a customer cannot find apparel in the desired style or size because it is
out of stock. QR system permit smaller initial orders, all owing stores to recorder more of a
product that proves to be popular. - ANS-Quick-Response (QR) systems can save the cost for
production in several ways:
Radio Frequency Identification - ANS-RFID
RFID tags are perceived to be coded with a great deal more information than barcodes -
ANS-True
True - ANS-RFID could improve supply chain efficiency such as real-time tracking, safety
monitoring, and overall warehouse operations.
customer relationship management - ANS-CRM
True - ANS-The Internet makes it easy for customer to move on quickly to the next retailer.
a term often used by the industry to describe online retailing via the Internet, where the
customer and retailer communicate through an interactive electronic computer system. -
ANS-E-commerce
True - ANS-Initially, E-commerce focused on domestic sales
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