Question 1

Effective employee theft deterrents include ________.

Accepted Answer

A)  periodically testing burglar alarms 
B)  using iron gates and/or shatterproof glass on display windows 
C)  attaching expensive clothing together 
D)  locking up trash containers kept outside 
A)  periodically testing burglar alarms 
B)  using iron gates and/or shatterproof glass on display windows 
C)  attaching expensive clothing together 
D)  locking up trash containers kept outside

Question 2

Description buying is most frequently used for ________.

Accepted Answer

A)  standardized, unbreakable merchandise 
B)  expensive, perishable merchandise 
C)  items purchased under new or special orders 
D)  expensive, one-time purchases 
A)  standardized, unbreakable merchandise 
B)  expensive, perishable merchandise 
C)  items purchased under new or special orders 
D)  expensive, one-time purchases

Question 3

Data from want books,want slips,and competition shopping reports should be stored and accessed in a retail information system.

Accepted Answer

A) True 
 B)False

Question 4

A broad-based approach to supply chain management among a network of trading partners is ________.

Accepted Answer

A)  third-party logistics 
B)  collaborative planning, forecasting, and replenishment (CPFR) 
C)  supply chain management 
D)  electronic data interchange (EDI) 
A)  third-party logistics 
B)  collaborative planning, forecasting, and replenishment (CPFR) 
C)  supply chain management 
D)  electronic data interchange (EDI)

Question 5

Which of the following is not a major advantage of having a large inventory for a retailer?

Accepted Answer

A)  quantity discounts in purchases 
B)  lower risk of obsolescence and deterioration 
C)  lower frequency of stockouts 
D)  low per-item shipping costs 
A)  quantity discounts in purchases 
B)  lower risk of obsolescence and deterioration 
C)  lower frequency of stockouts 
D)  low per-item shipping costs

Question 6

Prior to establishing a quick response (QR)inventory planning system,suppliers need to rethink their ________.

Accepted Answer

A)  credit terms and quantity discount schedule 
B)  quantity discount schedule and minimum order sizes 
C)  purchase prices and minimum order sizes 
D)  credit terms and minimum order sizes 
A)  credit terms and quantity discount schedule 
B)  quantity discount schedule and minimum order sizes 
C)  purchase prices and minimum order sizes 
D)  credit terms and minimum order sizes

Question 7

Describe the benefits and disadvantages associated with the use of centralized versus decentralized warehouses.

Accepted Answer

Centralized warehouses have several bene

Question 8

Which strategy is the opposite of direct store distribution?

Accepted Answer

A)  central warehousing 
B)  decentralized warehousing 
C)  third-party logistics providers 
D)  efficient consumer response 
A)  central warehousing 
B)  decentralized warehousing 
C)  third-party logistics providers 
D)  efficient consumer response

Question 9

Items with rather high pilferage should receive electronic product tags in addition to overall store security measures.

Accepted Answer

A) True 
 B)False

Question 10

A deduction from a bill made by a retailer due to such infractions as late shipping,damaged,or expired goods is called a ________.

Accepted Answer

A)  penalty 
B)  liquidated damage 
C)  chargeback 
D)  holdback 
A)  penalty 
B)  liquidated damage 
C)  chargeback 
D)  holdback

Question 11

Opportunistic buying is most commonly utilized by ________.

Accepted Answer

A)  department stores 
B)  off-price retailers 
C)  supermarkets 
D)  specialty stores 
A)  department stores 
B)  off-price retailers 
C)  supermarkets 
D)  specialty stores

Question 12

What are the overall retail strategy implications for the use of quick response (QR)inventory planning by a retailer?

Accepted Answer

The use of quick response (QR) inventory

Question 13

If a logistics system works well,a firm can reduce stockouts and reduce inventory levels simultaneously.

Accepted Answer

A) True 
 B)False

Question 14

A major cost advantage associated with direct store delivery for a retailer is the ________.

Accepted Answer

A)  mechanized processing of goods 
B)  reduction in warehouse expenses 
C)  efficient marking of merchandise 
D)  ease of returns 
A)  mechanized processing of goods 
B)  reduction in warehouse expenses 
C)  efficient marking of merchandise 
D)  ease of returns

Question 15

The logistics aspect of a value delivery chain is ________.

Accepted Answer

A)  third-party logistics management 
B)  electronic data interchange (EDI) 
C)  quick response (QR) inventory management 
D)  supply chain management 
A)  third-party logistics management 
B)  electronic data interchange (EDI) 
C)  quick response (QR) inventory management 
D)  supply chain management

Question 16

An example of items that should be evaluated by a retailer by inspection are ________.

Accepted Answer

A)  college textbooks 
B)  antique furniture 
C)  color televisions 
D)  file cabinets 
A)  college textbooks 
B)  antique furniture 
C)  color televisions 
D)  file cabinets

Question 17

A purchaser of fine antiques is most likely to evaluate merchandise through ________.

Accepted Answer

A)  description 
B)  sampling 
C)  inspection 
D)  testing by an independent agency 
A)  description 
B)  sampling 
C)  inspection 
D)  testing by an independent agency

Question 18

A major problem associated with the use of want books (want slips)is that they ________.

Accepted Answer

A)  require a sophisticated database 
B)  rely on retail salespeople to enter the relevant information 
C)  require a computer-based retail information system 
D)  require electronic data interchange (EDI) capability 
A)  require a sophisticated database 
B)  rely on retail salespeople to enter the relevant information 
C)  require a computer-based retail information system 
D)  require electronic data interchange (EDI) capability

Question 19

Direct store delivery works best with ________.

Accepted Answer

A)  perishables 
B)  seasonal merchandise 
C)  fads 
D)  fashion merchandise 
A)  perishables 
B)  seasonal merchandise 
C)  fads 
D)  fashion merchandise

Question 20

The use of such strategies as quick response inventory planning,electronic data interchange,and logistics planning in an integrated manner by supermarkets is referred to as ________.

Accepted Answer

A)  efficient consumer response (ECR) 
B)  efficient inventory management 
C)  effective inventory management 
D)  supermarket logistics 
A)  efficient consumer response (ECR) 
B)  efficient inventory management 
C)  effective inventory management 
D)  supermarket logistics

Effective employee theft deterrents include ________.

Description buying is most frequently used for ________.

Data from want books,want slips,and competition shopping reports should be stored and accessed in a retail information system.

A broad-based approach to supply chain management among a network of trading partners is ________.

Which of the following is not a major advantage of having a large inventory for a retailer?

Prior to establishing a quick response (QR)inventory planning system,suppliers need to rethink their ________.

Describe the benefits and disadvantages associated with the use of centralized versus decentralized warehouses.

Which strategy is the opposite of direct store distribution?

Items with rather high pilferage should receive electronic product tags in addition to overall store security measures.

A deduction from a bill made by a retailer due to such infractions as late shipping,damaged,or expired goods is called a ________.

Opportunistic buying is most commonly utilized by ________.

What are the overall retail strategy implications for the use of quick response (QR)inventory planning by a retailer?

If a logistics system works well,a firm can reduce stockouts and reduce inventory levels simultaneously.

A major cost advantage associated with direct store delivery for a retailer is the ________.

The logistics aspect of a value delivery chain is ________.

An example of items that should be evaluated by a retailer by inspection are ________.

A purchaser of fine antiques is most likely to evaluate merchandise through ________.

A major problem associated with the use of want books (want slips)is that they ________.

Direct store delivery works best with ________.

The use of such strategies as quick response inventory planning,electronic data interchange,and logistics planning in an integrated manner by supermarkets is referred to as ________.

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy Mix

Web, nonstore-Based, and Other Forms of Nontraditional Retailing

Identifying and Understanding Consumers

Information Gathering and Processing in Retailing

Trading-Area Analysis

Site Selection

Retail Organization and Human Resource Management

Operations Management: Financial Dimensions

Operations Management: Operational Dimensions

Developing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Integrating and Controlling the Retail Strategy

Filters

Exam 15: Implementing Merchandise Plans

Effective employee theft deterrents include ________.

Description buying is most frequently used for ________.

Data from want books,want slips,and competition shopping reports should be stored and accessed in a retail information system.

A broad-based approach to supply chain management among a network of trading partners is ________.

Which of the following is not a major advantage of having a large inventory for a retailer?

Prior to establishing a quick response (QR)inventory planning system,suppliers need to rethink their ________.

Describe the benefits and disadvantages associated with the use of centralized versus decentralized warehouses.

Which strategy is the opposite of direct store distribution?

Items with rather high pilferage should receive electronic product tags in addition to overall store security measures.

A deduction from a bill made by a retailer due to such infractions as late shipping,damaged,or expired goods is called a ________.

Opportunistic buying is most commonly utilized by ________.

What are the overall retail strategy implications for the use of quick response (QR)inventory planning by a retailer?

If a logistics system works well,a firm can reduce stockouts and reduce inventory levels simultaneously.

A major cost advantage associated with direct store delivery for a retailer is the ________.

The logistics aspect of a value delivery chain is ________.

An example of items that should be evaluated by a retailer by inspection are ________.

A purchaser of fine antiques is most likely to evaluate merchandise through ________.

A major problem associated with the use of want books (want slips)is that they ________.

Direct store delivery works best with ________.

The use of such strategies as quick response inventory planning,electronic data interchange,and logistics planning in an integrated manner by supermarkets is referred to as ________.

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy Mix

Web, nonstore-Based, and Other Forms of Nontraditional Retailing

Identifying and Understanding Consumers

Information Gathering and Processing in Retailing

Trading-Area Analysis

Site Selection

Retail Organization and Human Resource Management

Operations Management: Financial Dimensions

Operations Management: Operational Dimensions

Developing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Integrating and Controlling the Retail Strategy

Filters