Exam (elaborations)
NRF Business Of Retail Chapter 2 – Questions & Answers
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NRF Business Of Retail Chapter 2 – Questions & Answers
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NRF Business Of Retail Chapter 2 – Questions &Answers
Barcode Right Ans - A machine-readable series of parallel lines that
combine to create a unique item identifier.
RFID (radio frequency identification) Right Ans - tags containing
electronically stored information that identifies objects using a radio-wave
reader; the system an recognize either individual items or objects containing
many products, such as pallets
PLU (Price Look Up) Right Ans - a system of numbers that uniquely
identifies bulk produce items or other items on which it may be difficult to
apply a barcode
Inventory replenishment Right Ans - the process of automatic or manual
ordering to meet product demands
Receiving Right Ans - the process of matching the invoiced quantity to the
actual product delivered
Stockroom Right Ans - behind the scenes area where inventory is kept that
does not fit on the sales floor or is awaiting a specific release date to be sold
Safety stock Right Ans - extra inventory kept on hand in case customers
buy more than the company estimated before the next shipment arrives
Stocking Right Ans - the process of placing inventory on sales floor shelves
racks or other displays to be sold
Out of stock Right Ans - the term when customers have purchased more
products than the company estimated and inventory is sold out. It may or may
not be available again in the future depending on the type of merchandise
Excess inventory Right Ans - the term for when customers did not buy as
much inventory as the company estimated and there is too much inventory in
stock
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