SCM 300 EXAM 2 ASU | 134 QUESTIONS AND
CORRECT ANSWERS WITH COMPLETE SOLUTIONS |
NEW UPDATE 2026/27 | GRADED A+
Omni-channel Retailing - ANSWERS 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 - ANSWERS 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 - ANSWERS 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) - ANSWERS A
formalized effort by supply chain partners to share data and collectively develop
forecasts in an effort to reduce supply chain costs through better planning.
,VMI (Vendor Managed Inventory) - ANSWERS 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 - ANSWERS 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 - ANSWERS 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.”
Prototype Stores - ANSWERS A series of stores that have common design,
construction and layout
Rationalized Retailing - ANSWERS 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 - ANSWERS ·       A map of where every product goes
on a retail store shelf.
4 Store security issues - ANSWERS 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 - ANSWERS • 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 - ANSWERS ¬∑¬†¬†¬†¬†¬†¬† 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
4 Managerial Considerations in Queues - ANSWERS ·      
Customers ‚ How many are there? How quickly are they arriving?
The Waiting Lines – What types of lines? How many lines?
Employees – Who’s working in the system? How many? Skill level and speed?
Service Facilities – How effective and efficient is the process? Tools?
Basic waiting line terminology - ANSWERS ¬∑¬†¬†¬†¬†¬†¬† Queue ‚ Line.
Channel ‚ Line. Here it often refers to the number of lines available at each step.
CORRECT ANSWERS WITH COMPLETE SOLUTIONS |
NEW UPDATE 2026/27 | GRADED A+
Omni-channel Retailing - ANSWERS 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 - ANSWERS 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 - ANSWERS 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) - ANSWERS A
formalized effort by supply chain partners to share data and collectively develop
forecasts in an effort to reduce supply chain costs through better planning.
,VMI (Vendor Managed Inventory) - ANSWERS 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 - ANSWERS 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 - ANSWERS 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.”
Prototype Stores - ANSWERS A series of stores that have common design,
construction and layout
Rationalized Retailing - ANSWERS 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 - ANSWERS ·       A map of where every product goes
on a retail store shelf.
4 Store security issues - ANSWERS 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 - ANSWERS • 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 - ANSWERS ¬∑¬†¬†¬†¬†¬†¬† 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
4 Managerial Considerations in Queues - ANSWERS ·      
Customers ‚ How many are there? How quickly are they arriving?
The Waiting Lines – What types of lines? How many lines?
Employees – Who’s working in the system? How many? Skill level and speed?
Service Facilities – How effective and efficient is the process? Tools?
Basic waiting line terminology - ANSWERS ¬∑¬†¬†¬†¬†¬†¬† Queue ‚ Line.
Channel ‚ Line. Here it often refers to the number of lines available at each step.
