Merchandising Activities involved in acquiring particular goods and/or services and making them
available at the places, times, and prices and in the quantity to enable a retailer to reach its goals.
Operations Blueprint Systematically lists all the operating functions to be performed, their
characteristics, and their timing.
Prototype Stores Used with an operations strategy that requires multiple outlets in a chain
Trading Area Geographic area containing the customers of a particular firm or group of firms for
specific goods or services.
Trading-Area Overlap Occurs when the trading areas of stores in different locations encroach on
Operations Management Process used to efficiently and effectively enact the policies and tasks to
satisfy a firm's customers, employees, and management (and stockholders, if a publicly owned company).
Retail Information System (RIS) Anticipates the information needs of managers; collects, organizes,
and stores relevant data on a continuous basis; and directs the flow of information to proper decision
Circuit Switching Vs Packet Switching
Packet switching relies on shared resources to transfer data across the network, similar to yelling
across a field where multiple conversations are going on at the same time.
Circuit switching establishes a path by re
Retail Organization How a firm structures and assigns tasks, policies, resources, authority,
responsibilities, and rewards so as to efficiently and effectively satisfy the needs of its target market,
employees, and manag