SCM 300 Exam 2 Davila with Accurate
Solutions
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)
Parts of a waiting line system - ANSWER-Input Source
Waiting Line
Service Facility
4 Managerial Consideration in Queues - ANSWER-customers
waiting line
employees
service facilities
Basic waiting line terminology - ANSWER--queue*: line.
-channel*: line. refers to the number of lines available at each step.
-phase*: a single step in a process.
-infinite population of customers*: 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*: The number of customers is limited. Example: If you
have a bus company that has 10 busses, then your company's repair shop has a finite
population of 10 busses. If 1 bus is in the shop only 9 others are left in the population.
The odds of a 2nd bus entering the system decline.
Balking - 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 - ANSWER-customer joins the line gets frustrated and leaves the line
Trade-offs in managing waiting lines - ANSWER-add more workers and the company
pays more money but the customer's time in the line will decrease. On the other hand,
limit the technology available to the
employees and the company's costs decrease, of course the customer will get a
diminished service and likely need to wait longer in the line.
, Managerial decisions in queuing - ANSWER-
Finite populations - ANSWER-The number of customers is limited
Infinite populations - ANSWER-the number of possible customers that may come into
the store is very high
Jockeying - ANSWER-
Line jumping - ANSWER-
4 retailing options - ANSWER-1) Brick and Mortar - All products and services are sold to
customers from physical stores. Example: McDonald's
2) Online or E-tailing- All products and services are sold to customers through an online
website. Example: Amazon.com
3) Bricks and clicks - Products can be bought from a physical store or from an online
system. Example: Barnes and Noble and BN.com
4) Clicks and calls - 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 - ANSWER-Retailers that are fully committed to engaging
customers via catalogs, phone calls, websites, email, internet chatrooms, social media
sites or mobile app and in store
3 retail sources of supply - ANSWER-1) 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.
2) 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.
3) 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-a practice used by retailers in which they deduct money from
the amount they owe a vendor without getting vendor approval
CPFR - ANSWER-Collaborative Planning, Forecasting, and Replenishment
Vendor Management Inventory System (VMI) definitions - ANSWER-These are systems
where buyers share inventory information with suppliers. Suppliers in turn take on the
responsibility of managing inventory levels for the
buyer by placing, delivering and sometimes even stocking the buyer's shelves.
VMI challenges - ANSWER-1. what if the person doesn't know how to stock company
shelves
Solutions
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)
Parts of a waiting line system - ANSWER-Input Source
Waiting Line
Service Facility
4 Managerial Consideration in Queues - ANSWER-customers
waiting line
employees
service facilities
Basic waiting line terminology - ANSWER--queue*: line.
-channel*: line. refers to the number of lines available at each step.
-phase*: a single step in a process.
-infinite population of customers*: 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*: The number of customers is limited. Example: If you
have a bus company that has 10 busses, then your company's repair shop has a finite
population of 10 busses. If 1 bus is in the shop only 9 others are left in the population.
The odds of a 2nd bus entering the system decline.
Balking - 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 - ANSWER-customer joins the line gets frustrated and leaves the line
Trade-offs in managing waiting lines - ANSWER-add more workers and the company
pays more money but the customer's time in the line will decrease. On the other hand,
limit the technology available to the
employees and the company's costs decrease, of course the customer will get a
diminished service and likely need to wait longer in the line.
, Managerial decisions in queuing - ANSWER-
Finite populations - ANSWER-The number of customers is limited
Infinite populations - ANSWER-the number of possible customers that may come into
the store is very high
Jockeying - ANSWER-
Line jumping - ANSWER-
4 retailing options - ANSWER-1) Brick and Mortar - All products and services are sold to
customers from physical stores. Example: McDonald's
2) Online or E-tailing- All products and services are sold to customers through an online
website. Example: Amazon.com
3) Bricks and clicks - Products can be bought from a physical store or from an online
system. Example: Barnes and Noble and BN.com
4) Clicks and calls - 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 - ANSWER-Retailers that are fully committed to engaging
customers via catalogs, phone calls, websites, email, internet chatrooms, social media
sites or mobile app and in store
3 retail sources of supply - ANSWER-1) 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.
2) 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.
3) 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-a practice used by retailers in which they deduct money from
the amount they owe a vendor without getting vendor approval
CPFR - ANSWER-Collaborative Planning, Forecasting, and Replenishment
Vendor Management Inventory System (VMI) definitions - ANSWER-These are systems
where buyers share inventory information with suppliers. Suppliers in turn take on the
responsibility of managing inventory levels for the
buyer by placing, delivering and sometimes even stocking the buyer's shelves.
VMI challenges - ANSWER-1. what if the person doesn't know how to stock company
shelves
