SCM 300 Exam 2 ASU Davila
Brick-and-Mortar Business - CORRECT ANSWER-a business that operates in a
physical store without an internet presence
Online or E-tailing - CORRECT ANSWER-All products and services are sold to
customers through an online website. Example: Amazon.com
Brick and Clicks - CORRECT ANSWER-Companies that use both a physical
store and the Web to sell their products and services.
Clicks and Calls - CORRECT ANSWER-In addition to taking orders via the
company website, some companies will also offer sales via the phone. Examples:
Lands' End and L.L. Bean
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.
Retail sources of supply - CORRECT ANSWER-manufacturers, wholesalers,
drop shippers
drop shippers - CORRECT ANSWER-An organization that ties manufactures
and/or wholesalers directly to consumers. They never posses the product, they
just take orders to fulfill by another party.
Chargebacks - CORRECT ANSWER-effectively penalties charged by retail
organizations to their suppliers/vendors for any number of minor and major
supply chain offenses
Collaborative Planning, Forecasting, and Replenishment (CPFR) - CORRECT
ANSWER-A formalized effort by supply chain partners to share data and
collectively develop forecast in an attempt to reduce supply chain cost through
better planning
,vendor-managed inventory (VMI) - 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-the portion of the supply chain between the
final inventory holding facility and the end consumer
Prototype Stores - CORRECT ANSWER-A series of stores that have common
design, construction and layout. Standardized plans that will work across many
stores for chain retailers.
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. An employee would easily
be able to work at almost any store since everything is done the same way.
Planogram - CORRECT ANSWER-A map of where every product goes on a
retail store shelf.
Customers cost for waiting lines - CORRECT ANSWER-Time
Company cost for waiting line - CORRECT ANSWER-Money paid to maintain the
line (employees)
Waiting line Input Source - CORRECT ANSWER-The population of people that
might want service
Waiting Line - CORRECT ANSWER-The area in which customers wait for
service
Waiting line Service Facility - CORRECT ANSWER-The area in which customers
actually receive service
Infinite population of customers - CORRECT ANSWER-The number of possible
customers that may come into the store is very high (or unlimited). When a
, customer enters the system, the odds of another entering the system are not
impacted in any significant manner.
Finite Population of Customers - CORRECT ANSWER-number of customers is
limited
Balking - CORRECT ANSWER-When a potential customer sees the line, but
never joins the line because they think it looks too long and/or too slow.
Reneging - CORRECT ANSWER-When a customer joins the line, gets frustrated
and leaves the line
λ - CORRECT ANSWER-Lambda
Lambda - CORRECT ANSWER-Number of customers arriving/unit of time
ex. 15 customers per hour
μ - CORRECT ANSWER-Mu
Mu - CORRECT ANSWER-Number of customers helped/unit of time
ex. 24 customers per hour
ρ - CORRECT ANSWER-Rho
ρ=λ/μ - CORRECT ANSWER-Percentage of time worker is busy
n1=ρ[λ/(μ-λ)] - CORRECT ANSWER-Average number of customers in the line
t l =ρ[1/(μ-λ) - CORRECT ANSWER-Average amount of time a customer waits in
the line
n s =λ/(μ-λ) - CORRECT ANSWER-Average number of customers in the system
ρn=(1-ρ)ρ^n - CORRECT ANSWER-Probability there are n customers in the
system
Brick-and-Mortar Business - CORRECT ANSWER-a business that operates in a
physical store without an internet presence
Online or E-tailing - CORRECT ANSWER-All products and services are sold to
customers through an online website. Example: Amazon.com
Brick and Clicks - CORRECT ANSWER-Companies that use both a physical
store and the Web to sell their products and services.
Clicks and Calls - CORRECT ANSWER-In addition to taking orders via the
company website, some companies will also offer sales via the phone. Examples:
Lands' End and L.L. Bean
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.
Retail sources of supply - CORRECT ANSWER-manufacturers, wholesalers,
drop shippers
drop shippers - CORRECT ANSWER-An organization that ties manufactures
and/or wholesalers directly to consumers. They never posses the product, they
just take orders to fulfill by another party.
Chargebacks - CORRECT ANSWER-effectively penalties charged by retail
organizations to their suppliers/vendors for any number of minor and major
supply chain offenses
Collaborative Planning, Forecasting, and Replenishment (CPFR) - CORRECT
ANSWER-A formalized effort by supply chain partners to share data and
collectively develop forecast in an attempt to reduce supply chain cost through
better planning
,vendor-managed inventory (VMI) - 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-the portion of the supply chain between the
final inventory holding facility and the end consumer
Prototype Stores - CORRECT ANSWER-A series of stores that have common
design, construction and layout. Standardized plans that will work across many
stores for chain retailers.
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. An employee would easily
be able to work at almost any store since everything is done the same way.
Planogram - CORRECT ANSWER-A map of where every product goes on a
retail store shelf.
Customers cost for waiting lines - CORRECT ANSWER-Time
Company cost for waiting line - CORRECT ANSWER-Money paid to maintain the
line (employees)
Waiting line Input Source - CORRECT ANSWER-The population of people that
might want service
Waiting Line - CORRECT ANSWER-The area in which customers wait for
service
Waiting line Service Facility - CORRECT ANSWER-The area in which customers
actually receive service
Infinite population of customers - CORRECT ANSWER-The number of possible
customers that may come into the store is very high (or unlimited). When a
, customer enters the system, the odds of another entering the system are not
impacted in any significant manner.
Finite Population of Customers - CORRECT ANSWER-number of customers is
limited
Balking - CORRECT ANSWER-When a potential customer sees the line, but
never joins the line because they think it looks too long and/or too slow.
Reneging - CORRECT ANSWER-When a customer joins the line, gets frustrated
and leaves the line
λ - CORRECT ANSWER-Lambda
Lambda - CORRECT ANSWER-Number of customers arriving/unit of time
ex. 15 customers per hour
μ - CORRECT ANSWER-Mu
Mu - CORRECT ANSWER-Number of customers helped/unit of time
ex. 24 customers per hour
ρ - CORRECT ANSWER-Rho
ρ=λ/μ - CORRECT ANSWER-Percentage of time worker is busy
n1=ρ[λ/(μ-λ)] - CORRECT ANSWER-Average number of customers in the line
t l =ρ[1/(μ-λ) - CORRECT ANSWER-Average amount of time a customer waits in
the line
n s =λ/(μ-λ) - CORRECT ANSWER-Average number of customers in the system
ρn=(1-ρ)ρ^n - CORRECT ANSWER-Probability there are n customers in the
system
