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SCM 300 EXAM 2 STUDY GUIDE
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SCM 300 EXAM 2 STUDY GUIDE
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SCM 300 EXAM 2 STUDY GUIDEBrick and Mortar - Answers -All products and services are sold to customers from
physical stores. Example: McDonald's
Online or E-tailing - Answers -All products and services are sold to customers through
an online website. Example: Amazon.com
Bricks and clicks - Answers -Products can be bought from a physical store or from an
online system. Example: Barnes and Noble and BN.com
Clicks and calls - Answers -In addition to taking orders via the company website, some
companies will also offer sales via the phone. Example: LL Bean and Lands End
Omni Channel Retailing
True omni-channel retail readiness would require companies to have a very strong
presence in the many channels they choose to meet customers. - Answers -Retailers
that are fully committed to engaging customers via catalogs, phone calls, websites,
email, internet chatrooms, social media sites or mobile apps, and of course also in
stores.
Brick and Mortar, Online or E-tailing, Bricks and Clicks, and Clicks and Calls - Answers -
Retailing Options
humanitarian organization - Answers -being prepared to deal with one and sometimes
more disasters at the same time; natural disasters, man made disaster, etc; they must
mobilize materials machines, etc to the disaster location
Scan-based trading
-example: Cheese its. It gives it inventory to Wal-Mart. Wal-Mart doesn't pay for it, if
they sell the cheese its, then wal-mart will get a % of the profit. high risks of theft -
Answers -You don't get any money until the product sells. It is the vendor company that
is in charge and keeps track of the inventory in the store (Walmart).
So, these products are the stores so they are not responsible.
It has the potential of the vendor losing a lot of products.
But, if they vend for a company like Walmart, not doing scan based will cause them to
loose a ton of money by not vending through them so vendors do this to create good
relationships with the stores
As a vendor Downsides:
- Theft
- Employees not making damaged goods correctly
,- Having the product expire and no one buys it
- Management/employees not caring as much about these items
manufacturers - actually create the finished goods. Retailer responsible for distribution
wholesalers - organizations that purchase goods from manufacturers. Purchase
assortments of goods from many manufacturers, thus a retailer can purchase all goods
from a single wholesaler
drop shippers - manufacturers and/ or wholesalers directly to consumers. Not really a
source of supply - Answers -Retail sources of supply
Manufacturers - Answers -These are the companies that actually create the finished
goods. Retailers then buy the goods and that retailer is responsible for distribution and
storage.
Wholesalers - Answers -These organizations purchase goods from manufacturers.
Typically they purchase an assortment of goods from many manufacturers, thus a retail
company could purchase all of their electronics from a single ____________ versus
having to purchase from each individual manufacturer.
input souce -> balking -> waiting line (reneging) -> service facility -> served customers -
Answers -Waiting line system
Drop shippers
Example: Drop shipper has a website with pictures of items for sale. The consumer
places an order from the website. The drop shipper takes the order information and
sends it along to a manufacturer or wholesaler that actually holds and owns the
inventory. That manufacturer or wholesaler will then pick, pack, and deliver the order to
the customer on behalf of the drop shipper. - Answers -This one is not really a source of
supply, but rather an organization that ties manufacturers and/or wholesalers directly to
consumers. These organizations never actually possess the product they simply take
orders which are fulfilled by another party.
Collaborative, Planning, Forecasting, and Rescheduling (CPFR)
CPFR helps not only in analysis and planning, it forces organizations to discuss
opinions and strategies. This in turn helps supply chain partners understand how their
supply chain partners think, what they believe, and also what they value - Answers -A
formalized effort by supply chain partners to share data and collectively develop
forecasts in an effort to reduce supply chain costs through better planning.
Vendor Managed Inventory
The idea here is that rather than having a retail store try to monitor every item in their
stock and understand the supply chain preferences (order sizes, lead times) of all of
,their vendors, instead just allow vendors to monitor the inventories on your shelf. -
Answers -An arrangement where retailers allow vendors to monitor in-store inventories,
initiate orders/shipments to the store when inventories are low, and also bring the items
into the store and onto the shelf.
Last Mile - Answers -in supply chain, typically refers to the portion of the supply chain
between the final inventory holding facility and the end consumer
Cooperatives - Answers -Retailer that is owned by its customer members. These
organizations typically try and fit the very special needs of the consumers that organized
them. Examples: REI (Recreational Equipment Inc)
Prototype Stores - Answers -A series of stores that have common design, construction,
and layout.
Allows chain retailers to create standardized plans that will work their many stores.
Pro: can help companies develop efficiencies across all their stores. Con: It can hold
companies back when the retail market evolves. - Answers -Pros and cons of Prototype
stores
Planogram - Answers -a map of where every product goes on a retail store shelf
store personnel - Answers -Many of our biggest complaints when leaving a retail
environment are often related to _________
Rationalized Retailing - Answers -This retail strategy has retail chains develop rigid
control structures to develop and manage processes such that all the retail outlets are
managed in the same way.
Employees would be able to work at almost any store since everything is done the
same way
EX: a store manager or employee would easily be able to work at almost any store
since everything is done the same way
Hire good/ reliable people
hire enough people
train employees to do their job well (includes processes, product information, using
equipment/ technology)
schedule employees when most needed
take care of employees (pay, benefits, flexibility, etc)
create a friendly work environment. - Answers -Strategies for store personnel for
excellent retail operations (6):
, employees, store assets, customers and their assets, and data - Answers -Stores are
responsible for protecting:
Hiring good employees, customer service, cleanliness, waiting lines, in store logistics,
store layout, assets protection team - Answers -What are some things that Target does
daily for a high quality customer experience?
development and management of excellent in store processes - Answers -Consistency
in retail operations depends on the ______________________
opening and closing the store, cleaning bathrooms, processing a customer's returned
items, stocking shelves w/ items, changing prices for sale items - Answers -Examples of
processes in a retail store include but are not limited to:
FINITE Pool - Answers -Few potential customers. Every customer in the store
significantly decreases the chance of another customer arriving.
Example: Retail store that sells jumbo jet airplanes.
Prepared/unprepared customer, Big/small orders, high/low maintenance customers,
Paying cash vs. check - Answers -Degree of Variability
- Type of customers
- 1st Come - 1st Served (Burger King)
- Earliest Due Date or Shortest Processing Time (Homework?)
- Emergency Situations? (Emergency Rooms)
- Reservations or Appointments Possible? (Restaurants, Homework)
- Preemptive Discipline - Special Rules (VIP lines, Frequent Fliers) - Answers -Priority
Discipline Rules - Who goes first? Why?
Examples
Steady stream of customers? Busy and slow time periods? Busy and slow days of
week? Seasonal trends? - Answers -Degree of Variability
- Arrival rates -
INFINITE Pool - Answers -Many potential customers. Odds barely affected by new
arrivals.
Example: McDonald's
balance the cost paid by the customers (time) with the cost paid by the company
(money paid to maintain the system)
Balance of Long Lines/Unhappy Customers vs Idle Staff/High Cost. - Answers -Goal of
waiting line management
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