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6 Cards in this Set
- Front
- Back
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Queuing systems - Goals and Trade-offs |
Goals: Balance cost paid by customers with cost paid by company Trade-off: Everyone. Shift toward customer or company Customer cost: time, diminished service Company cost: $ paid to maintain system, add more workers |
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Define balking |
Potential sees. Never joins. Too long/slow |
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Define reneging |
Joins line. Leaves when frustrated. |
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Define Last Mile |
Portion of SC: between final inventory holding facility and end consumer Not actual final mile. Might be thousands of miles from center to consumer home. Consumer home not always actual home. Office, repair person, factory. So much variation and really need to focus on last mile logistics |
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Define VMI
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Vendor managed inventory: retailers allowe vendors to monitor in-store inventories, initiate order/shipments to store when inventories are low, bring items into store and onto shelf Retailers don't have to monitor everything and deal with thousands of SC preferences. Initiate orders right time and right size. Appropriate display. Gain understanding of environment and consumers. |
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Define omni-channel retailing |
Retailers fully committed to engaing customers: -catalogs -phone calls -sites -internet chatrooms -applications -in store Very strong presence in each channel. Plan a lot. Constant information technology share. Ex: Nordstrom, lots of care. Provide service expect and couldn't even imagine. Lots of coordination and flexibility to be visible and quickly get to no matter where |
