Marketing: Chapter 14

Front 1

Supply Chain Management

Back 1

-set of approaches and techniques firms employ to efficiently integrate their suppliers, manufacturers, warehouses, stores and transportation intermediaries

Front 2

Wholesalers

Back 2

-firms engaged in buying, taking title to, often storing, and physically handling goods in large quantities, then reselling the goods to retailers

Front 3

Marketing Channel

Back 3

-set of institutions that transfer the ownership of and move goods from point of production to the point of consumption
-consists of all the institutions and marketing activities in the marketing process

Front 4

Logistics Management

Back 4

-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 good from point of origin to point of consumption

Front 5

Distribution Center

Back 5

-facility for receipt, storage, and redistribution of goods to company stores or customers
-may be operated by retailers or manufacturers

Front 6

Universal Product Code

Back 6

-indicates manufacturer of item, description of item, information about packaging, and special promotions

Front 7

Advanced Shipping Notice

Back 7

-electronic document that the suppliers sends the retailer in advance of a shipment to tell the retailer exactly what to expect in the shipment

Front 8

Electronic Data Interchange

Back 8

-the computer to computer exchange of business documents from a retailer to a vendor and back

Front 9

Advantages of Distribution Center

Back 9

-more accurate sales forecast
-enable retailer to carry less merchandise
-easier to avoid running out of stock
-retail store is usually more expensive

Front 10

Supply Chain

Back 10

-group of firms that make and deliver a given set of goods and services

Front 11

Channel Conflict

Back 11

-conflict occurs when supply chain members are not in agreement about their goals, roles or rewards

Front 12

Independent (Conventional) Supply Chain

Back 12

-a loose coalition of several independently owned and operated supply chain members
-each member attempting to satisfy their own objectives and maximize their own profits

Front 13

Vertical Marketing System

Back 13

-a supply chain in which the members act as a unified system

Front 14

Administered Vertical Marketing System

Back 14

-supply chain system where there is no common ownership and no contractual relationships, but the dominant channel member controls the channel relationship

Front 15

Contractual Vertical Marketing System

Back 15

-supply chain system where independent firms at different levels of the supply chain join together through contracts to obtain economies of scale and coordination to reduce conflict

Front 16

Corporate Vertical Marketing System

Back 16

-a system in which the parent company has complete control and can dictate the priorities and objectives of the supply chain
-it may own facilities such as manufacturing plants, retail stores, ect.

Front 17

Strategic Relationship (Partner Relationship)

Back 17

-supply chain relationship that the members are committed to maintaining long term, investing in opportunities that are mutually beneficial