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SCM 300 EXAM 2 ASU DAVILA LATEST UPDATE 2024.
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SCM 300 EXAM 2 ASU DAVILA LATEST UPDATE 2024.
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SCM 300 EXAM 2 ASU DAVILA | LATEST UPDATE2024
Brick-and-Mortar Business - (correct answer) -a business that operates in a T T T T T T T T T T
physical store without an internet presence
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Online or E-tailing - (correct answer) -All products and services are sold to
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customers through an online website. Example: Amazon.com
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Brick and Clicks - (correct answer) -Companies that use both a physical store and
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the Web to sell their products and services.
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Clicks and Calls - (correct answer) -In addition to taking orders via the company
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website, some companies will also offer sales via the phone. Examples: Lands'
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End and L.L. Bean
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Omni-channel retailing - (correct answer) -Retailers that are fully committed toT T T T T T T T T T
engaging customers via catalogs, phone calls, websites, email, internet
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chatrooms, social media sites or mobile apps, and of course also in stores.
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Retail sources of supply - (correct answer) -manufacturers, wholesalers, drop
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shippers
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drop shippers - (correct answer) -An organization that ties manufactures and/or
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wholesalers directly to consumers. They never posses the product, they just take
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orders to fulfill by another party.
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Chargebacks - (correct answer) -effectively penalties charged by retail T T T T T T T T
organizations to their suppliers/vendors for any number of minor and major supply
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chain offenses
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Collaborative Planning, Forecasting, and Replenishment (CPFR) - (correct answer)
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-A formalized effort by supply chain partners to share data and collectively
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develop forecast in an attempt to reduce supply chain cost through better planning
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vendor-managed inventory (VMI) - (correct answer) -An arrangement where T T T T T T T T
retailers allow vendors to monitor in-store inventories, initiate orders/shipments to
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the store when inventories are low, and also bring the items into the store and onto
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the shelf.
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, Last Mile - (correct answer) -the portion of the supply chain between the final
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inventory holding facility and the end consumer
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Prototype Stores - (correct answer) -A series of stores that have common design,
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construction and layout. Standardized plans that will work across many stores for
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chain retailers.
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Rationalized Retailing - (correct answer) -This retail strategy has retail chains
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develop rigid control structures to develop and manage processes such that all
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the retail outlets are managed in the same way. An employee would easily be able
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to work at almost any store since everything is done the same way.
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Planogram - (correct answer) -A map of where every product goes on a retail store
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shelf.
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Customers cost for waiting lines - (correct answer) -Time T T T T T T T T
Company cost for waiting line - (correct answer) -Money paid to maintain the line
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(employees)
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Waiting line Input Source - (correct answer) -The population of people that might
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want service
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Waiting Line - (correct answer) -The area in which customers wait for service
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Waiting line Service Facility - (correct answer) -The area in which customers
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actually receive service
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Infinite population of customers - (correct answer) -The number of possible
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Tcustomers that may come into the store is very high (or unlimited). When a
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Tcustomer enters the system, the odds of another entering the system are not
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Timpacted in any significant manner. T T T T
Finite Population of Customers - (correct answer) -number of customers is limited
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Balking - (correct answer) -When a potential customer sees the line, but never joins
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the line because they think it looks too long and/or too slow.
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Reneging - (correct answer) -When a customer joins the line, gets frustrated and
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leaves the line
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λ - (correct answer) -Lambda
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Lambda - (correct answer) -Number of customers arriving/unit of time
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ex. 15 customers per hour
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