Chapter 15- Supply chain and channel management

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Supply chain management refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their manufacturers, warehouses, transportation intermediaries, stores, and

suppliers

As noted in your text, each participant in a successful marketing channel adds

value

All of the following are examples of the value provided by a supply chain in the production of kitchen stoves except

the product design team develops initial drawings for a new product offering

A _____, which may be operated by retailers, manufacturers, or distribution specialists, is a facility for the receipt, storage, and redistribution of goods to company stores or customers.

distribution center

When Clarissa sells the jewelry she makes at craft fairs or on her personal website, she is utilizing a(n) _____ marketing channel.

direct

In _____ marketing channels, one or more intermediaries work with manufacturers to provide goods and services to customers.

indirect

When supply chain members that buy and sell to one another are not in agreement about their goals, _____ channel conflict can occur

vertical

When there is disagreement among members at the same level of marketing channels, such as when Best Buy and Sears engage in a price war on Maytag appliances, _____ channel conflict can occur.

horizontal

When the members of a marketing channel operate to satisfy their own objectives and maximize their own profits, often at the expense of the other members, the channel operates as

an independent marketing channel

As the dominant member of the channel of distribution, Coca-Cola holds a lot of power in the relationship with independent grocery stores, and as such, it performs the functions of restocking merchandise, setting up special displays, and rotating merchandise. This is an example of

administered vertical marketing system

_____ power is exhibited when one channel member wants to be associated with another channel member; the channel member with whom the others want to be associated has the power to get them to do what they want.

Referent

_____ power is when one channel member threatens to punish or punishes another channel member for not undertaking certain tasks, such as delaying payment for a late delivery.

Coercive

When companies enter into agreements that allow them to obtain economies of scale and coordination to reduce conflict, it is an example of

a contractual vertical marketing system

The most common type of contractual vertical marketing system is

franchising

The international fashion retailer Zara’s parent company, Inditex, owns the manufacturing plants, warehouse facilities, retail outlets, and design studios, which is an example of

corporate vertical system

To create strong partnering relationships, supply chain members must develop mutual trust, openly communicate, have common goals, recognize the benefits of interdependence, and

be willing to invest in each other’s success

_____ is an electronic document sent by a supplier to a retailer prior to the shipment of a merchandise order.

Advanced shipping notice

Purchase data collected at the point of sale are stored in

data warehouses

A(n) _____ involves the computer-to-computer transmission of sales data, purchase orders, invoices, and data about returned merchandise between a retailer and its vendors.

electronic data interchange

Frito-Lay is an example of a company that partners with retailers by implementing a(n) _____ system, involving taking on the responsibility of managing inventory levels at the retailers where its products are sold.

vendor-managed inventory

_______ is an approach for improving marketing channel efficiency in which the manufacturer is responsible for maintaining the retailer’s inventory levels in each of its stores.

VMI

In a distribution center, which person would be responsible for the financial planning and analysis of merchandise, and its allocation to stores?

planner

The _____ is the person who coordinates deliveries to the distribution center.

dispatcher

_______ is the process of going through the goods upon receipt to make sure they arrive undamaged and that the merchandise ordered was the merchandise received.

checking

Radio frequency identification tags are

tiny computer chips that transmit information about the contents of containers.

_____ is a practice in which merchandise cartons are prepackaged by the vendor for a specific store.

cross docking

What two additional tasks are required in order to make merchandise "floor-ready"?

ticketing and marking

A forklift operator in a warehouse who needs to know how much of each item to get from specific storage areas would consult

a pick ticket

JIT inventory systems are associated with all of the following except

more inventory to warehouse

The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller’s store ready for sale is referred to as

lead time

What element of the marketing mix specifically deals with supply chain management?

place

In the marketing’s four P’s, place refers to all activities required to get

the right products to the right customer wants it

Manufactures use wholesalers and retailers because

They create value for customers through convenience and cost savings

In vendor-managed inventory systems

Corporations send information to retail customers, bypassing wholesalers and retailers

Which of the following is not an advantage of using a distribution center?

Customers know they are dealing with a more sophisticated and financially well-off operation if the firm uses a distribution center

Which of the following is not one of the activities carried on in a distribution center?

distributing paychecks and pay stubs for retail employees

Merchandise that arrives in the delivery truck ready to be sold is considered

floor-ready

Getting merchandise floor-ready entails

ticketing and marking

The three types of vertical marketing systems are administered, contractual, and

corporate

In a corporate vertical marketing system,

participants, such as warehouses, transportation companies, and retail outlets, are typically owned by a parent company to ensure harmonious relations throughout the supply chain

Which of the following is a true statement about distribution centers?

They are the quickest way to get all products to retailers

The most common type of contractual vertical marketing system is a

franchise

Manufacturers trying to implement a just-in-time delivery system need to start with

knowledge of customer demand

The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller’s store to be available for sale is referred to as

lead time

Shorter lead times allow retailers

access to a more diverse supply chain

While JIT systems have many benefits, they

make the logistics function more complicated

With more frequent shipments associated with quick response (QR) systems, a retailer is

more likely to have what customers want

One of the benefits of EDI is that it can reduce lead time, which is

the time between when finished goods leave the manufacturer and when they arrive, floor-ready, at the retailer

The local auto supply store gets merchandise delivered to it by its manufacturers as soon as it has a need, reducing stock outs with minimal inventory. This demonstrates the concept of

vendor-managed inventory

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