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