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test 4 study guide - MKTG 350 Test 4 Study Guide Chapter 15...

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MKTG 350 Test 4 Study Guide Chapter 15 Supply chain management- refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless operation in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, as well as to minimize system wide costs while satisfying the service levels their customers require. EDI- is the computer-to-computer exchange of business documents from a retailer to a vendor and back RFID- are tiny computer chips that automatically transmit to a special scanner all the information about a container's contents or individual products JIT and Q-R systems- systems in retailing, are inventory management systems designed to deliver less merchandise on a more frequent basis than traditional inventory systems. The firm gets the merchandise “just in time” for it to be used in the manufacture of another product, in the case of parts or components, or for sale when the customer wants it, in the case of consumer goods. The JIT systems lower inventory investments, but product availability actually increases Vertical marketing systems o Administered- there is no common ownership and no contractual relationships, but the dominant channel member controls or holds the balance of power in the channel relationship o Contractual- like this, independent firms at different levels of the supply chain join together through contracts to obtain economies of scale and coordination and to reduce conflict o Corporate- a system in which the parent company has complete control and can dictate the priorities and objectives of the supply chain Chapter 16 Retailing - is defined as the set of business activities that add value to products and services sold to consumers for their personal or family use. Our definition includes products bought at stores, through catalogs, and over the Internet, as well as services like fast-food restaurants, airlines, and hotels Retailing – unique features (from lecture only – breaking bulk, assortment, atmospherics) Intensive distribution- strategy is designed to place products in as many outlets as possible Selective distribution- lies b between the intensive and exclusive distribution strategies; which relies on a few selected retail customers in a territory to sell products exclusive distribution- strategy in which only selected retailers can sell a manufactures brand Convenience stores- provides a limited number of items at a convenient location in a small store with speedy checkout
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Specialty stores- concentrate on a limited number of complementary merchandise categories and provide a high level of service
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This note was uploaded on 12/12/2011 for the course MKGT 350 taught by Professor Mrs.worsham during the Fall '10 term at South Carolina.

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test 4 study guide - MKTG 350 Test 4 Study Guide Chapter 15...

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