MAR3023 EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS GRADED A++ LATEST UPDATE
Blockchain technology
A decentralized digital system for recording, documenting, and facilitating transactions
across all participants in a supply chain.
Bullwhip effect
The tendency for supply chain managers at different levels of the supply chain to
exaggerate the need to increase or decrease inventory in response to variation or lack
of predictability in customer demand.
Channel conflict
Arises when one channel member believes another channel member is engaged in
behavior that prevents it from achieving its goals.
Customer service
The ability of logistics management to satisfy users in terms of time, dependability,
communication, and convenience.
Direct to consumer marketing channels
Allows consumers to buy products by interacting with various print or electronic media
without a face-to-face meeting with a salesperson.
Disintermediation
A source of channel conflict that occurs when a channel member bypasses another
member and sells or buys product direct.
,Exclusive distribution
A level of distribution density whereby only one retailer in a specific geographic area
carries the firm's products.
Intensive distribution
A level of distribution density whereby a firm tries to place its products and services in
as many outlets as possible.
Logistics
Those activities that focus on getting the right amount of the right products to the right
place at the right time at the lowest possible cost.
Marketing channel
Consists of individuals and firms involved in the process of making a product or service
available for use or consumption by consumers or industrial users.
Multichannel marketing
The blending of different communication and delivery channels that are mutually
reinforcing in attracting, retaining and building relationships with consumers who shop
and buy in traditional intermediaries and online. Sometimes called omnichannel
marketing.
Reverse logistics
a process of reclaiming recyclable and reusable materials, returns, and reworks from
the point of consumption or use for repair, manufacturing, redistribution, or disposal
Selective distribution
a level of distribution density whereby a firm selects a few retailers in a specific
geographic area to carry its products
, Supply chain
the various firms involved in performing the activities required to create and deliver a
product or service to consumers or industrial users
Total logistics cost
the expenses associated with transportation, materials, handling and warehousing,
inventory, stockouts (being out of inventory), order processing, and return products
handling
Vendor managed inventory (VMI)
an inventory management system whereby the supplier determines the product amount
and assortment a customer (such as a retailer) needs and automatically delivers the
appropriate items
Vertical marketing systems
professionally managed and centrally coordinated marketing channels designed to
achieve channel economies and maximum marketing impact
Breadth of product line
the variety of different product items a store carries
Brokers
independent firms or individuals whose principal function is to bring buyers and sellers
together to make sales
Category management
an approach to managing the assortment of merchandise in which a manager is
assigned the responsibility for selecting all products that consumers in a market
SOLUTIONS GRADED A++ LATEST UPDATE
Blockchain technology
A decentralized digital system for recording, documenting, and facilitating transactions
across all participants in a supply chain.
Bullwhip effect
The tendency for supply chain managers at different levels of the supply chain to
exaggerate the need to increase or decrease inventory in response to variation or lack
of predictability in customer demand.
Channel conflict
Arises when one channel member believes another channel member is engaged in
behavior that prevents it from achieving its goals.
Customer service
The ability of logistics management to satisfy users in terms of time, dependability,
communication, and convenience.
Direct to consumer marketing channels
Allows consumers to buy products by interacting with various print or electronic media
without a face-to-face meeting with a salesperson.
Disintermediation
A source of channel conflict that occurs when a channel member bypasses another
member and sells or buys product direct.
,Exclusive distribution
A level of distribution density whereby only one retailer in a specific geographic area
carries the firm's products.
Intensive distribution
A level of distribution density whereby a firm tries to place its products and services in
as many outlets as possible.
Logistics
Those activities that focus on getting the right amount of the right products to the right
place at the right time at the lowest possible cost.
Marketing channel
Consists of individuals and firms involved in the process of making a product or service
available for use or consumption by consumers or industrial users.
Multichannel marketing
The blending of different communication and delivery channels that are mutually
reinforcing in attracting, retaining and building relationships with consumers who shop
and buy in traditional intermediaries and online. Sometimes called omnichannel
marketing.
Reverse logistics
a process of reclaiming recyclable and reusable materials, returns, and reworks from
the point of consumption or use for repair, manufacturing, redistribution, or disposal
Selective distribution
a level of distribution density whereby a firm selects a few retailers in a specific
geographic area to carry its products
, Supply chain
the various firms involved in performing the activities required to create and deliver a
product or service to consumers or industrial users
Total logistics cost
the expenses associated with transportation, materials, handling and warehousing,
inventory, stockouts (being out of inventory), order processing, and return products
handling
Vendor managed inventory (VMI)
an inventory management system whereby the supplier determines the product amount
and assortment a customer (such as a retailer) needs and automatically delivers the
appropriate items
Vertical marketing systems
professionally managed and centrally coordinated marketing channels designed to
achieve channel economies and maximum marketing impact
Breadth of product line
the variety of different product items a store carries
Brokers
independent firms or individuals whose principal function is to bring buyers and sellers
together to make sales
Category management
an approach to managing the assortment of merchandise in which a manager is
assigned the responsibility for selecting all products that consumers in a market
