{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Exam 3 - Review Terms

Exam 3 - Review Terms - Chapter 12 Inbound logistics...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 12 Inbound logistics/ distribution- moving products and materials from suppliers to the factory Inter-modal transportation - combining two or more modes of transportation Logistics - also called physical distribution, it involves planning, implementing, and controlling the physical flow of goods, services, and related information from points of origin to points of consumption to meet customer requirements at a profit. Outbound logistics/ distribution - moving products from the factory to resellers and ultimately to consumers Reverse logistics/ distribution - moving broken, unwanted, or excess products returned by consumers or resellers Third-party logistic firms (3PL’s) - an independent logistics provider that performs any or all of the functions required to get its client’s product to market Chapter 13 Agent - a wholesaler who represents buyers and sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods Assortment building - function or wholesaling where wholesalers can select items and build assortments needed by their consumers, thereby saving consumers much work Broker - a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation Bulk breaking - wholesaling function where wholesalers save their customers money by buying in carload lots and breaking bulk (breaking large lots into small quantities) Category killer - giant specialty store that carries a deep assortment of a particular line and is staffed by knowledgeable employees Convenience store - a small store, located near a residential area, that is open long hour 7 days a week and carries a limited line of high-turnover convenience goods Department store - a retail organization that carries a wide variety of product lines- typically clothing, home furnishings, and household goods; each line is operated as a separate department managed by specialist buyers and merchandisers Discount store - a retail institution that sells standard merchandise at lower prices by accepting lower margins and selling at high volumes Merchant wholesaler - independently owned business that takes title to the merchandise it handles. Off-price retailer - retailer that buys at less-than-regular wholesale prices and sells at less than retail. Examples are factory outlets, independents, and warehouse clubs. Retailer - a business whose sales come primarily from retailing Retailing - all activities involved in selling goods or services directly to final consumers for their personal, non-business use Retailer classification - retailers are classified by the amount of service, the product lines, the relative prices and the organizational approach
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Shopping center - a group of retail businesses planned, developed, owned and managed as a unit Specialty store - a retail store that carries a narrow product line with a deep assortment within that line Supermarket
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 7

Exam 3 - Review Terms - Chapter 12 Inbound logistics...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon bookmark
Ask a homework question - tutors are online