SCM 300 Exam 2 ASU Questions and
Answers
Omni-channel Retailing - 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 - 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 - 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) - ANSWER-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) - 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 - 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 - 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.”
, Prototype Stores - ANSWER-A series of stores that have common design, construction
and layout
Rationalized Retailing - 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 - ANSWER-·       A map of where every product goes on a
retail store shelf.
4 Store security issues - 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 - ANSWER-• Balance the cost paid by the
customers (time) with the cost paid by the company (money paid to maintain the
system)
Dedication to the Workforce - ANSWER-·       Lean systems require
finding errors, fixing errors, identifying opportunities for improvement, and relationship
management with supply chain partners.”
Short Set-up/Change-over - ANSWER-Set-up time is the amount of time it takes to
change a system from producing one product to producing a different item. Keeping
short set-up times allows systems to run “leaner”.
Revenue opportunities for globalizing supply chain - ANSWER-*Reach new consumers.
*Manage risk of low sales in one market by selling in multiple markets abroad. *Taking
your supply chain to new locations may allow your company to learn about new product,
service, or business trends that can be adopted and applied in other markets
Cost opportunities for globalizing supply chain; - ANSWER-*Potentially lower cost
materials, labor, storage, transportation, energy savings, etc. *Taxes, tariffs, legal fees,
business transaction fees *Taking your supply chain to new locations may allow your
company to learn about business practices and trends that may allow for savings in
other markets
Global Brand strategy - ANSWER-If you have traveled to different countries, you have
probably craved some of the items that you buy in your home country. Drinks, food
items, toiletries, medicine, and batteries are all items we may need to purchase on our
Answers
Omni-channel Retailing - 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 - 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 - 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) - ANSWER-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) - 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 - 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 - 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.”
, Prototype Stores - ANSWER-A series of stores that have common design, construction
and layout
Rationalized Retailing - 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 - ANSWER-·       A map of where every product goes on a
retail store shelf.
4 Store security issues - 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 - ANSWER-• Balance the cost paid by the
customers (time) with the cost paid by the company (money paid to maintain the
system)
Dedication to the Workforce - ANSWER-·       Lean systems require
finding errors, fixing errors, identifying opportunities for improvement, and relationship
management with supply chain partners.”
Short Set-up/Change-over - ANSWER-Set-up time is the amount of time it takes to
change a system from producing one product to producing a different item. Keeping
short set-up times allows systems to run “leaner”.
Revenue opportunities for globalizing supply chain - ANSWER-*Reach new consumers.
*Manage risk of low sales in one market by selling in multiple markets abroad. *Taking
your supply chain to new locations may allow your company to learn about new product,
service, or business trends that can be adopted and applied in other markets
Cost opportunities for globalizing supply chain; - ANSWER-*Potentially lower cost
materials, labor, storage, transportation, energy savings, etc. *Taxes, tariffs, legal fees,
business transaction fees *Taking your supply chain to new locations may allow your
company to learn about business practices and trends that may allow for savings in
other markets
Global Brand strategy - ANSWER-If you have traveled to different countries, you have
probably craved some of the items that you buy in your home country. Drinks, food
items, toiletries, medicine, and batteries are all items we may need to purchase on our
