Marketing chapter 13-14 – Flashcards
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a set of approaches used to integrate the functions of operations, logistics, supply and marketing channel management
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supply chain management
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an operational strategy focused on inducing inventory velocity and operational flexibility simultaneously in the supply chain
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supply chain agility
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when multiple firms or business functions in a supply chain coordinate their activities and processes so that they are seamlessly linked to one another in an effort to satisfy the customer
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supply chain integration
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a supply chain operational philosophy focused on integrating the supply-management and demand-generating functions of an organization
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demand-supply integration (DSI)
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concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process
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manufacturing flow management process
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supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers
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supplier relationship process
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includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms
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product development and commercialization process
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enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain
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returns management process
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an entire group of individuals who orchestrate the movement of goods, services and information from the source to the consumer
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supply chain team
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a method of developing and maintaining an adequate assortment of materials or products to meet a manufacturer's or a customer's demand
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inventory control system
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a situation wehre a customer demand for an inventory item goes unfulfilled because the requested item is unavailable at the needed time and place
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stockout
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inventory held temporarily for the purpose of fulfilling predicted demand in a period
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cycle stock
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extra inventory held in addition to cycle stock as insurance against unexpected demand increases
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safety stock
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inventory that is currently moving within a transportation network to or from the company's facilities
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in-transit inventory
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materials inventory that is currently in the process of being converted into finished goods
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work-in-process inventory
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an extra inventory buffer that is held in response to predictable demand increases that occur annually
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seasonal inventory
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an inventory control system that manages the replenishment of raw materials, supplies and components from the supplier to the manufacturer
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materials requirement planning (MRP)
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an inventory control system that manages the replenishment of goods from the manufacturer to the final consumer
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distribution resource planning (DRP)
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a real-time inventory system that triggers shipments only when a good is sold to the end user
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automatic replenishment program
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a system whereby orders are entered into the supply chain and filled
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order processing system
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information technology that replaces the paper documents that usually accompany business transactions, such as purchase orders and invoices, with electronic transmission of the needed information to reduce inventory levels improve cash flow streamline operations and increase the speed and accuracy of information transmission
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electronic data interchange (EDI)
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an inventory handling and tracking system that employs radio frequency electromagnetic fields to transfer and read product data via an electronic tag
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smart RFID (radio-frequency identification)
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a production method whereby products are made in advance of demand based on forecasts and are stored until customer orders arrive
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build to stock
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a production method whereby products are not made until order is placed by the customer
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mass customization (build to order)
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a hybrid production method whereby basic units of a finished good are manufactured in advance of actual demand and held in strategic form or location until demand occurs, when final customization takes place
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postponement
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a method of moving inventroy into, within and out of a warehouse
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materials handling system
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the link that connects all the logistics functions of the supply chain
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logistics information system
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a supply chain management philosophy that embraces the need for optimizing social and environmental costs in addition to financial costs
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sustainable supply chain management
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efforts made by comanies to protect their in-transit inventory or value-transforming assets from external or internal threats
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supply chain security
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the ability of a supply chain to return to its ideal operational state after bein gdisrupted
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supply chain resiliency
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a distibution technique that includes any kind of product or service that can be distributed electronically, whether over traditional forms suh as fiber-optic cable or through satellite transmisison of electronic signals
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electronic distribution
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group of individuals and organizations that direct the flow of products from the prodcuers to customers within the supply chain
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marketing channels
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the elements of the composition and appearance of a product that make it desirable
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form utility
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the increase in customer satisfaction gained by making a good or service available at the appropraite tie
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time utility
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the usefulness of a good or service as a function of the location at which it is made available
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place utility
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the increased value of a product that is created as its ownership is transferred
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exchange utility
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a channel intermediary that sells mainly to consumers
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retailer t
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an institution that buys goods from manufactures and resells them to businesses, government agencie, and other wholesalers or retailers and that RECEIVES AND TAKES TITLE TO GOODS stores them in its own warehouses and later ships them
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merchant wholesaler
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wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers wholesales or manufacturers
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agents and brokers
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a distribution channel in which producers sell directly to consumers
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direct channel
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the use of two or more channels to distribute the same product to target markets
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dual distribution (multiple distribution)
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nonphysical (often electronic) channels that facilitate the unique market access of products and services
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nontraditional channels
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a cooperative agreement between business firms to suse the other's already established distribution channel
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strategic channel alliance
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a form of distribution aimed at having a produc t available in every outlet where target customers might want to buy it
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intensive distribution
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a form of dist4ribution achieved by screening dealers to eliminate all but a few in any single area
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selective distribution
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a form of distribution that establishes one or a few dealers within a given area
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exclusive distribution
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a relationship between companies that is looser, characterized by low relational investment and trust, and usually taking the form of a series of discrete transactions with no or low expectation of future interaction or service
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arm's length relationship
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a relationship between companies that takes the form of informal partnership with moderate levels of trust and information sharing as needed to further each company's goals
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cooperative relationship
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a relationship between companies that is tightly connected with linked processes across and between firm boundaries and high levels of trust and interfirm commitment
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integrated relationship
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a relatinoship that mixes elements of cooperation and competition between two partners
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co-opetition
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the capacity of a particular makreting channel memeber to control or influecne the behaivo of other channel members
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channel power
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a situation that occurs when one marketing channel member intentionally affecs another member's behavior
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channel control
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a memeber of a marketing channel that exercises authority zand power over the activities of other channel members
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channel captain
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a clash of goals and methods between distribution channel members
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channel conflict
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a channel conflict that occurs among channel members on the same level
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horizontal conflict
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a channel conflict that occurs between different levels in amarketing channel, most typically between the manufacturer oand wholesalers or between the manufacturer and retailer
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vertical conflict
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the joint effort of all channel members to create a channel tht serves customers and creates a competitive advantage
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channel partnering
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all the activities directly related to the sale of goods and services to the ultimte consumer for personal, nonbusiness use
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retailing
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a retailer owned by a single person or partnership and not operated as part of a larger retail institutiton
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independent retailer
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a store that is part of a group of the same stores ownd and operated by a single organization
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chain store
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a business where the operator is granted a liscense to operate and sell a prodcut under a larger supporting organization
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franchise
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the amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted
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gross margin
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a store housing several departments under one roof
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department store
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a retail store specializing in a given type of merchandise
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specialty store
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a large departmentalizaed self service retailer that specializes in food and some nonfood items
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supermarket
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the tendecny to offer a wide variety of nontraditional goods and service under one rof
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scrambled merchandisinging
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a retail store that stocks pgaramcy related fproducts and services as its main draw
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drugstore
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a mini supermarket carrying a limited line of high turnover conveniecnec goods
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convenience store
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a retailer that competets on the basis of low prices, high turnover and high voluem
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discount store
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a retail store that offers nearly a complete selection of single line merchandise and uses self service discount prices high volume and high turnover
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specialty discount store
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a retailer that sells at prices 25 percent or more below traditional department store prics because it pays cash for its stock and usually doesn't ask for return privileges
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off price retailer
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an off-price retailer that is owned and operate dby a manufacturer
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factory outlet
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a retailer that turns customers into suppliers: items purchased from one of the other types of retailers can be resold to a different customer
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used goods retailer
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shopping without visiting a stoer
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non-store retailing
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the selling of products by representative who work door to door office to office or at home sales parties
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direct retailing
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techniques used to get consumers to make a purchase from their home office or other notnretail setting
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direct marketing
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presentation and personel
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retailing mix new P's
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a store that consumers purposely plan to visit
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desti natio nstore
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SOURCE MAKE DELIVER
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how do businesses orchestrate the physical movement of products through the supply chain
