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SCM 300 Exam 2 ASU With 100% Correct And Verified Answers
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SCM 300 Exam 2 ASU With 100% Correct And Verified Answers
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SCM 300 Exam 2 ASU With 100% CorrectAnd Verified Answers
Omni-channel Retailing - Correct Answer-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. Ex. Nordstorm
3 Retail sources of supply - Correct Answer-
Manufacturers ‚ These are the companies that
actually create the finished goods. Retailers then
buy the goods and that retailer is responsible for
distribution and storage. Wholesalers – These
organizations purchase goods from manufacturers.
Typically, they purchase an assortment of goods
from many manufacturers, thus a retail company
could purchase all of their electronics from a single
wholesaler versus having to purchase from each
individual manufacturer. Drop shippers – This
one is not really a source of supply, but rather an
organization that ties manufacturers and/or
wholesalers directly to consumers.
Chargebacks - Correct Answer-These are effectively
penalties charged by retail organizations to their
suppliers/vendors for any number of minor and
major supply chain offenses.
CPFR (Collaborative, Planning, Forecasting,
Rescheduling) - Correct Answer-A formalized effort
by supply chain partners to share data and
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,collectively develop forecasts in an effort to reduce
supply chain costs through better planning.
VMI (Vendor Managed Inventory) - Correct Answer-
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 - Correct Answer-In supply chain the last
mile typically refers to the portion of the supply
chain between the final inventory holding facility
and the end consumer.
4 types of retail ownership - Correct Answer-5
Independents. One store, one owner. Usually they
are trying to satisfy a very specialized market or
locale. Example: Family owned corner stores,
Boutique store that is run by the owner. Chains –
Multiple stores/facilities, one owner/company.
Example: Home Depot, Wal-Mart, Costco, Gap,
Macy’s, Safeway (Amazon.com probably best fits
this category). Franchises – A franchisor owns the
rights to a company and the name. A franchisee is
allowed to open an outlet under that name. The
franchisee must abide by the rules and processes of
the franchise. Examples: Jiffy Lube, McDonald’s,
7-eleven, Buffalo Wild Wings, Massage Envy.
Cooperatives –Retailer that is owned by its
customer members. These organizations typically
try and fit the very special needs of the consumers
that organized the cooperative. Examples: REI
(Recreational Equipment Inc.”
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, Prototype Stores - Correct Answer-A series of stores
that have common design, construction and layout
Rationalized Retailing - Correct Answer-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. Example: Employee can work at different
locations without much change.
Planogram - Correct Answer-·       A
map of where every product goes on a retail store
shelf.
4 Store security issues - Correct Answer-Employees
– Managers, store employees, and potentially
vendors
Store Assets – Inventory, cash, store property
Customers and their
Assets – Store visitors, their cars and also any
other personal property
Data – Company, customer, and vendor data
Goal of waiting line management - Correct Answer-• Balance the cost
paid by the customers (time) with the cost paid by the company (money
paid to maintain the system)
Parts of a waiting line system - Correct Answer-·      
Input Source ‚This is the population of people that might want
service.
Waiting Line – The area in which customers wait for service.
Service Facility – The area in which customers actually receive
service
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