MAR 3023 Chapter 15 Flash Cards

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Title: MAR 3023 Chapter 15
Description: Vocabulary
Number of Cards: 36
Save Count: 0
Author: sammyvass
Created: 2009-11-12
Tags: marketing vocab
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    • Question
    • Answer
    • Side 3
    • supply chain management
    • refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers,manufacturers, warehouses and transportation
    • wholesalers
    • firms that buy products from manufacturers and resell them to retailers
    • marketing channel
    • the set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption
    • logistics management
    • it describes the integration of two or more activities for the purpose of planning, implementing and controlling the efficient flow of raw materials
    • distribution center
    • a facility for the receipt, storage, and redistribution of goods to companies, stores and customers
    • universal product code (UPC)
    • the black-and-white barcode found of most merchandise
    • advanced shipping notice (ASU)
    • an electronic document that the supplier sends the retailer in advance of a shipment to tell the retailer exactly what to expect in the shipment
    • electronic data interchange (EDI)
    • the computer-to-computer exchange of business documents from a retailer to a vendor and back
    • intranet
    • secure communication systems contained with one company such as between buyers and distribution centers
    • extranet
    • collaborative network that uses internet technology to link businesses with their suppliers, customers or other businesses
    • cycle time
    • the time between the decision to place an order and the receipt of merchandise
    • vendor managed inventory(VMI)
    • an approach for improving supply chain efficiency in which the manufacturer is responsible for maintaining the retailer's inventory levels in each of the stores
    • reorder point
    • a level of inventory at which more merchandise is required
    • consignment
    • where the manufacturer owns the merchandise until it is sold by the retailer
    • collaborative planning, forecasting and replenishment (CPFR)
    • the sharing of forecast and related business information and collaborative planning between retailers and vendors to improve supply chain efficiency and product replenishment
    • pull supply chain
    • a supply chain in which orders for merchandise are generated at the store level on the basis of sales data captured by POS (point-of-sale) terminals
    • push supply chain
    • merchandise is allocated to stores on the basis of forecasted demand
    • dispatcher
    • the person who coordinates deliveries to the distribution center
    • receiving
    • the process of recording the receipt of merchandise as it arrives at a distribution center
    • checking
    • the process of going through the goods upon receipt to make they arrive undamaged and that the merchandise ordered was the merchandise received
    • radio frequency identification tags (RFIDs)
    • tiny computer chips that automatically transmit to a special scanner all the information about container's contents or individual products
    • cross-docked
    • merchandise cartons that are pre-packaged for the vendor for a specific store
    • cross docking
    • ...
    • floor-ready merchandise
    • merchandise that is ready to be placed on the selling floor
    • ticketing and marking
    • refers to affixing price and identification labels to the merchandise
    • pick ticket
    • document or display on a screen in a forklift truck indicating how much of each item to get from a specific storage area
    • just-in-time inventory systems also know as quick-response(QR) systems
    • inventory management systems designed to deliver less merchandise on a more frequent basis than traditional inventory systems
    • lead time
    • 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
    • supply chain or channel conflict
    • when supply chain members are not in agreement about their goals, roles, or rewards
    • independent or conventional supply chain
    • several independent members each attempt to satisfy their own objectives and maximize their own profits(manufacturer, wholesaler and retailer)
    • vertical marketing system
    • a supply chain in which the members act as a unified system
    • administered vertical marketing system
    • no common ownership and no contractual relationships
    • contractual vertical marketing systems
    • independent firms at different levels of the supply chain join together through contracts to obtain economies of scale and coordination and to reduce conflict
    • franchising
    • contractual agreement between the franchiserr and the franchisee that allows the franchisee to operate a retail outlet using the name and format developed and supported by the franchiser
    • corporate vertical marketing systems
    • a system in which the parent company has complete control and can dictate the priorities and objectives of the supply chain
    • strategic relationship also called partnering relationship
    • supply chain members are committed to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial