Mkt312-Final-Set1

Front 1

supply chain mgmt

Back 1

integration of business processes from end user through original suppliers that provides prdocuts, services, and information that add value for customers

Front 2

effecient supply chain has 2 benefits for customers

Back 2

1. fewer stockouts and
2. assortments of merchandise that customers want, where they want it.

Front 3

return on assets=

Back 3

net profit margin x asset turn over

Front 4

data warehouse

Back 4

the coordinated and periodic copying of data from various sources, both inside and outside the enterprise, into an enviornemnt ready for analytical and informational processing

Front 5

electronic data interchange

Back 5

computer-to-computer exchange of business documents from retailer to vendor, and back.

Front 6

advanced shipping notcie

Back 6

an electronic document received by the retailer's computer from a suplier in advance of a shipment

Front 7

propriertary EDI systems

Back 7

data exchange systems that are developed primarily by large retailers for the prupose of exchangeing dat with their vendor

Front 8

intranets

Back 8

secure communication system stha ttake place within one company

Front 9

extranet

Back 9

collaborative network that uses internet technology to link business w/ their suppliers, customers, or other businesses. typically private and secure in that they can be accessed only by certain parties

Front 10

Collabroation, Plannig, forecasting, and replenishment

Back 10

inventory mgmt sytem using EDI in which a retiler will send info to a manufacutrer and and the manufacturer will use the dat to construct a computer-generated replensihment forecast that will be shared back w/ the retailer before ti's executed

Front 11

secuirty policy-autentication, authorization, integrity

Back 11

autenticiation-able to assure/verify who the person is

-authoriztation-assure that person has permission to carry out he request

-integrity-assue arriving information is the same as they sent

Front 12

logistics

Back 12

part of th esupply chain process that plans, implements, and controls the efficient, effective flow and storage of goods, services, and related information from the point of origin to the point of consumption in order to meet customer's requiremetns .

Front 13

dispatcher

Back 13

peroson who coordinates deliveries to the distribution center

Front 14

receiving

Back 14

process of recording the receipts of merchanise as it arrives at a distribution center

Front 15

checking

Back 15

process of goign through the goods upon receipts to make sure they arrived undmaaged and that th emerchandise orderd was the merchandise received

Front 16

traditional distribution center

Back 16

warehouse in which merchandise is unloaded from trucks and placed on racks or shelves for storage

Front 17

crossdocking distribution center

Back 17

one in which vendor ship merchandise prepackaged in the quantity required for each store, already contains price tags and theft detection tags.

Front 18

florr-ready merchandise

Back 18

merchandise that's ready to be placed on the selling floor. entails ticketing, marking, and on hangers

Front 19

ticketing and marking

Back 19

refers to makign price and identification labels and placing them on the merchandise

Front 20

pick ticket

Back 20

document that tells the order filler how much of each item to get from storage area

Front 21

pull logistics straegy

Back 21

orders for merchandise are generated at the store level on the basis of demand data captures by POS terminals

Front 22

push logistics strategy

Back 22

merchandise is allocated to stores on the bases of historical demand, the inventory postioin at the distribution center , and the store's need
-

Front 23

reverse logistics

Back 23

flow back of merchandise through the channel, from the customer to the store, distribution center, vendor, for customer returns
-transporation cost=high,

Front 24

Quick response delivery ssyste

Back 24

inventory mgmt. stystems designe d to reduce the retaer's lead tiem for recieving merchandise, thereby lowering inventory investment, improving cuomster service levels, and reducing lobistics expenses

Front 25

Benefits of Quick Response devliery system

Back 25

-reduce lead time
-increase product availabitliy and lower inventory investment
-reduce logistics expenses

Front 26

lead tiem

Back 26

amt. of time b/t the recognition that an order needs to be placed and its arrival in the store, ready for sale.

Front 27

Cost of QR system

Back 27

-smaller orders-more expensive to transport
-greater order frequency-deeliveies and transportation more difficult to coordinate
-comptuer hardware and software must be purchased by both parties

Front 28

third-party logicistics companies

Back 28

firms that facilitate the movemnt of merchandise from manufcature to retailer but are independently owned

Front 29

public warehouses

Back 29

owned and oerpated by third party.

Front 30

freight forwarders

Back 30

companies that purchase transport services. consolidate small shipments from a number of shippers into large shipments that move at a lower freight rate

Front 31

opportunity to reduce costs

Back 31

transporation costs
-inventory holding costs

Front 32

information flow

Back 32

1. when customer makes a purchase, sales associate scands UPC code on merchandise and customer credit card/ loyalty card
2. information about purchase is transmitted from POS terminal to the buyer/planner
3. info abotu purchases are aggregated by buyer/planner and sent to distribution center and vendor
4. buyer/planner communicates w/ vendor and places a purchase order to re-supply sotres
5. buyer/planner notifies distribution center about incoming orders and how they are to be distributed to stores
6. sotre managers inform distribution center about receipt of merchandise and coordinate delieveries

Front 33

advangaes of using a distribution center

Back 33

-effects of forecast error for indiidual stores are minimized
-enables retailers to carry less merchandise in the store
-easier to avoid running out of stock
-retail sotre space is more expensive than space at the distribution center

Front 34

when to use distribution centers

Back 34

-unpredictable merchandise sales-wide fluctuations in demand
-frequent replenishment required-high number of units sold per day
-items shipped to store in less than full case quantities
-many retail outlets that are not concentrated in one area

Front 35

radio frequency identification

Back 35

allows an object or a person to be identified at a distance using radio waves
-reduce warehouse and distribution labor costs
-reduce POS costs
-inventory saving sby reducing inventory errors
-reduce theft-products acan be tracked
-reduce out of stock conditions.

-RFID is expensive-return on investment is low
-only make sense to put tags on pallets
-generate more dat than what can be currently processed

Front 36

staple merchandise

Back 36

predicatble demand, history of past sales, relatively accurate forecasts

Front 37

fashion merchandise

Back 37

-unpredictable demand
-limited sales history
-difficult to forecast slaes

Front 38

buffer stock is dependent on

Back 38

-forecast interval variance (fore coast interval=lead time+ review time)
-variation in demand (actual demand-forecastdemand)
-time to get product from supplier
-time to get product from distribution center
-product availabitliy requested of IM systems

Front 39

order point

Back 39

the point at which inventory available should not go below or else we will run out of stock before the next order arrives
= (demand/day) x(lead time +review time))+ backup stock

Front 40

merchandise budget plan

Back 40

plan for the financial aspects of a merchandise category
-specifies how much money can be septn each month to achieve the sales, margin, inventory turnover, and GMRO objectives, not a complete buying plan--doesn't indicate what specific SKUs to buy or in what quantities

Front 41

open to buy

Back 41

-monitors merchandise flow
-detmerins how much was spent and how much is left to spend
-buyer's "checkbook" a record keeping function

Front 42

ABC Anlaysis

Back 42

rank-orders merchandise by some performance measure to determine which items
-should never be out of stock
-should be allowed to be out of stock occasionally
-should be deleted from the stock selection

Front 43

merchandise managmeent

Back 43

process by whcih a retailer attempts to offer the right quantity of the right merchandise in the right place at the right time while meeting the company's financial goals

Front 44

assormtnet planning

Back 44

process of tradngin off variety, assortment, and back up stock

Front 45

assortment plan

Back 45

list of merchandise that indicates in general terms what the retailer wants to carry in a particular merchandise category