Marketing Chapter 15 Supply Chain and Channel Management – Flashcards
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distribution center
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facility for the receipt, storage, and redistribution of goods to company stores or customers. Operated by retailers, manufacturers, or distribution specialists.
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Universal product code
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black and white bar code, 13-digits that indicates the manufacture of the item, a description, information about packaging, and special promotions.
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advanced shipping notice
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electronic document that the supplier sends the retailer in advance of a shipment to tell the retailer exactly what to expect in the shipment
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electronic data interchange
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computer-to-computer exchange of business documents from a retailer to a vendor and back
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cycle time
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time between the decision to place an order and the receipt of the merchandise
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vendor-managed inventory
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manufacturer is responsible for maintaing the retailer's inventory levels in each of its stores, by sharing the data via EDI
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consignment
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the manufacturer owns the merchandise until it is sold by the retailer, at which time the retailer pays for the merchandise
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Collaborative planning, forecasting, and replenishment
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sharing of forecast and related business information and collaborative planning between retailers and vendors to improve supply chain efficiency and product replenishment
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pull supply cain
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supply chain in which orders for merchandise are generated at the store level on the basis of sales data captured by POS terminals
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push supply chain
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in which merchandise is allocated to stores on the basis of forecasted demand
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checking
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process of going through the goods upon receipt to make sure they arrived undamaged and that the merchandise ordered was the merchandise received
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Radio frequency identification tags
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tiny computer chips that automatically transmit to a special scanner all the information about a container's contents or individual products
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cross-docked
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merchandise ready for sale is placed on a conveyor system that routes it from the unloading dock to the specific store
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floor-ready merchandise
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merchandise that is ready to be placed on the selling floor
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ticketing and marketing
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refers to affixing price and identification labels to the merchandise
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pick ticket
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document or display on a screen in a forklift truck indicating how much of each item to get from specific storage areas
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Just-in-time inventory systems (quick response systems)
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inventory management systems designed to deliver less merchandise on a more frequent basis than tradition inventory systems
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lead time
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amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise
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independent or conventional supply chain
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manufacturer, wholesaler, retailer each attempt to satisfy their own objectives and maximize their own profits, often as the expense of eachothers
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vertical marketing system
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marketing channel in which the members act as a unified system
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1) Administered 2) Contractual 3) Corporate
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3 types of vertical marketing systems
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administered vertical mkt system
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no common ownership and no contractual relationship, but the dominant channel member controls or holds the balance of power in the relationship
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power
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when one firm has the means or ability to have control over the actions of another member in a channel at a different level of distribution
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Reward power
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monetary incentive for getting one channel member to do what they want
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Coercive power
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one channel threatens to punish another channel member for not undertaking certain tasks, such as delaying payment
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referent power
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one member wants to be associated with the other member to attract business
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Legitimate power
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getting a member to behave a certain way because of a contractual agreement
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Contractual vertical mkt system
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firms of the supply cain join together through contracts to obtain economics of sale and coordination to reduce conflict
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Franchising
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contractual agreement between a franchisor and franchisee that allows the franchisee employee to operate a retail outlet using a name and format developed and supported by the franchisor
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corporate vertical mkt system
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the portion a firm owns and controls in the supply chain
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strategic relationship (partnering)
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supply chain members are committed to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial
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