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RiseUp Lesson 3 - Retail Operations: Questions & Correct Answers
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RiseUp Lesson 3 - Retail Operations: Questions & Correct Answers
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RiseUp Lesson 3 - Retail Operations: Questions &Correct Answers
Inventory replenishment Right Ans - If inventory has been sold and there is
none in the stockroom to fill the shelf, the item is ___________.
Out of stock Right Ans - If inventory has been sold and there is none in the
stockroom to fill the shelf, the item is ___________.
Excess inventory Right Ans - If a stockroom area is overflowing with
inventory that will not fit on the sales floor, the product may be referred to as
_________________ .
Sell Right Ans - On hand inventory is the number of units of a specific item
that are available to _________ .
Barcode Right Ans - A machine readable series of parallel lines that
combine to create a unique product identifier is a ____________ .
Receiving Right Ans - _________________ is the process of matching the
invoiced quantity to actual products delivered.
Shrinkage Right Ans - When there are fewer items in stock than the
expected total inventory, this is called _________________ .
Point of sale Right Ans - Cash registers, scanners and card readers are a
part of the _________________________ system.
retail operations Right Ans - the processes that keep a retailers ecosystem
running smoothly. (inventory management, supply chain, merchandising,
pricing, marketing, HR functions, loss prevention, evaluating financial data,
workplace safety, and security.
customer satisfaction Right Ans - customers' evaluation of a good or
service in terms of whether it has met their needs and expectations
inventory Right Ans - a complete list of items such as property, goods in
stock, or the contents of a building.
, Total Inventory Right Ans - All inventory owned by the retailer, regardless
of its location.
on hand or available inventory Right Ans - the number of units within the
total inventory that are available to sell at a particular moment in time.
RFID (radio-frequency identification) tags Right Ans - Small electronic
devices used to improve the efficiency of inventory tracking and management.
The RFID tags identify and track goods from the point of delivery or
manufacturing to the point of sale.
PLU (Price Look Up) Right Ans - a system of numbers that uniquely
identifies bulk produce items or other items on which it may be difficult to
apply a barcode.
inventory replenishment Right Ans - The process of automatic or manual
ordering to meet product demands.
receiving Right Ans - the process of matching the invoiced quantity to
actual products delivered.
stockroom Right Ans - the behind the scenes area in a store where
inventory is kept that does not fit on the sales floor or is awaiting a specific
release date to be sold.
out of stock Right Ans - the situation that occurs when customers have
purchased more of a product than the company estimated and an item is sold.
excess inventory Right Ans - the situation that occurs when customers did
not buy as much of a product as estimated, so there is too much of that
product in stock.
inventory shrinkage or shrink Right Ans - when there are fewer items in
stock than in the total inventory record indicated there are.
inventory tracking systems Right Ans - retailer systems that specify the
amount of inventory in a store or distribution center, identify how much
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