Question 1

CPFR partnerships require:

Accepted Answer

A)  quick response interaction 
B)  strong commitment 
C)  two or more vendors 
D)  full responsibility of the vendor 
E)  a controlled expense budget 
A)  quick response interaction 
B)  strong commitment 
C)  two or more vendors 
D)  full responsibility of the vendor 
E)  a controlled expense budget

Question 2

Which of the following does NOT describe the benefits of utilizing distribution centres over direct store delivery?

Accepted Answer

A)  More accurate sales forecasts are possible when retailers combine forecast for many stores serviced by one distribution centre, rather than doing a forecast for each store. 
B)  Distribution centres enable the retailer to carry less merchandise in the individual stores. 
C)  The use of distribution centres increases inventory investment systemwide. 
D)  It is easier to avoid running out of stock or having too much stock in any particular store because merchandise is ordered from the distribution centre as needed. 
E)  The effects of forecast error for the individual stores are minimized and less backup inventory is needed to prevent stockouts. 
A)  More accurate sales forecasts are possible when retailers combine forecast for many stores serviced by one distribution centre, rather than doing a forecast for each store. 
B)  Distribution centres enable the retailer to carry less merchandise in the individual stores. 
C)  The use of distribution centres increases inventory investment systemwide. 
D)  It is easier to avoid running out of stock or having too much stock in any particular store because merchandise is ordered from the distribution centre as needed. 
E)  The effects of forecast error for the individual stores are minimized and less backup inventory is needed to prevent stockouts.

Question 3

Which of the following is a benefit of the QR system?

Accepted Answer

A)  Reduces fixed costs 
B)  Increases the need for safety stock 
C)  Has no effect on the economic order quantity 
D)  Shortens lead time 
E)  Increases inventory investment 
A)  Reduces fixed costs 
B)  Increases the need for safety stock 
C)  Has no effect on the economic order quantity 
D)  Shortens lead time 
E)  Increases inventory investment

Question 4

Which of the following is not a benefit of a QR system?

Accepted Answer

A)  Reduced lead time 
B)  Increased product availability 
C)  Lower inventory investment 
D)  Better assortments 
E)  Reduced logistics expenses 
A)  Reduced lead time 
B)  Increased product availability 
C)  Lower inventory investment 
D)  Better assortments 
E)  Reduced logistics expenses

Question 5

Because of the nature of vendor-managed inventory:

Accepted Answer

A)  the flow of consumer purchases determines replenishment 
B)  DCs need to run as deliveries arrive after hours and on holidays 
C)  there are many delays in replenishment as it's not a collaborative approach 
D)  third party logistic companies have become necessary 
E)  EDI is now obsolete 
A)  the flow of consumer purchases determines replenishment 
B)  DCs need to run as deliveries arrive after hours and on holidays 
C)  there are many delays in replenishment as it's not a collaborative approach 
D)  third party logistic companies have become necessary 
E)  EDI is now obsolete

Question 6

____________ is the aspect of supply chain management which refers to the planning,implementation,and control of the efficient flow and storage of goods,services,and related information.It follows the process from the point of origin to the point of consumption to meet customers' requirements.

Accepted Answer

A)  Logistics 
B)  Total quality management 
C)  Warehousing 
D)  Distribution 
E)  Material flow management 
A)  Logistics 
B)  Total quality management 
C)  Warehousing 
D)  Distribution 
E)  Material flow management

Question 7

Which of the following does NOT describe an activity managed by distribution centres?

Accepted Answer

A)  receiving 
B)  checking 
C)  cross-docking 
D)  ticketing 
E)  markdowns 
A)  receiving 
B)  checking 
C)  cross-docking 
D)  ticketing 
E)  markdowns

Question 8

_______________ is the sharing of forecasts and related business information between retailers and vendors to improve supply chain efficiency and product replenishment.

Accepted Answer

A)  Automated replenishment system 
B)  Universal Product Code (UP
C)  system 
C)  Electronic data interchange (EDI) system 
D)  Point-of-sale (POS) 
E)  Collaborative planning, forecasting, and replenishment (CPFR) 
A)  Automated replenishment system 
B)  Universal Product Code (UP
C)  system 
C)  Electronic data interchange (EDI) system 
D)  Point-of-sale (POS) 
E)  Collaborative planning, forecasting, and replenishment (CPFR)

Question 9

____________ is an approach for improving supply chain efficiency in which the vendor is responsible for maintaining the retailer's inventory levels in each of its stores.

Accepted Answer

A)  Efficient consumer response (ECR) 
B)  Reverse logistics 
C)  Quick response (QR) system 
D)  Vendor-managed inventory (VMI) 
E)  Collaborative planning, forecasting, and replenishment (CPFR) 
A)  Efficient consumer response (ECR) 
B)  Reverse logistics 
C)  Quick response (QR) system 
D)  Vendor-managed inventory (VMI) 
E)  Collaborative planning, forecasting, and replenishment (CPFR)

Question 10

Joanne manages a gift shop.She wants to reduce the time between when she realizes she needs to order more stock and the arrival of the ordered inventory in the store.Joanne believes a quick response (QR)delivery system can reduce:

Accepted Answer

A)  lead time 
B)  period of distribution 
C)  economic order time 
D)  inventory lapse 
E)  contractual buying period 
A)  lead time 
B)  period of distribution 
C)  economic order time 
D)  inventory lapse 
E)  contractual buying period

Question 11

When a regular customer calls a well-known pizza delivery restaurant,the order taker types in the caller's name.The computer screen shows the customer's address,phone number,directions to his or her house,his or her usual order,and the date and frequency of orders.If the customer has not ordered during a two-month period or the average number of orders has been down,the pizza parlour mails them a coupon for their favourite pizza.The pizza parlour uses:

Accepted Answer

A)  a retail information system 
B)  a data warehouse 
C)  a customer data system 
D)  a cross-docking warehouse system 
E)  a direct account management system 
A)  a retail information system 
B)  a data warehouse 
C)  a customer data system 
D)  a cross-docking warehouse system 
E)  a direct account management system

Question 12

By using EDI in the QR system,lead times are reduced because:

Accepted Answer

A)  there is no need to use the mail, overnight deliveries, or even fax 
B)  inventory can be stored in the distribution centre with no fees for a delay 
C)  retailers are prepared to receive merchandise and schedule associates accordingly 
D)  vendors can predict what the customer wants, and vendors place all orders 
E)  there is no need to order at all because the buyers monitor daily sales 
A)  there is no need to use the mail, overnight deliveries, or even fax 
B)  inventory can be stored in the distribution centre with no fees for a delay 
C)  retailers are prepared to receive merchandise and schedule associates accordingly 
D)  vendors can predict what the customer wants, and vendors place all orders 
E)  there is no need to order at all because the buyers monitor daily sales

Question 13

Drop-shipping is:

Accepted Answer

A)  a system in which retailers receive orders from customers and relay these orders to vendors and then the vendors ship the merchandise to the retailer. 
B)  a system in which retailers receive orders from customers and relay these orders to vendors and then the vendors ship the merchandise directly to the customer. 
C)  another name for customer logistics relationship. 
D)  always successful in shortening delivery times. 
E)  a system in which vendors receive orders from customers and then the vendors ship the merchandise ordered directly to the retailer. 
A)  a system in which retailers receive orders from customers and relay these orders to vendors and then the vendors ship the merchandise to the retailer. 
B)  a system in which retailers receive orders from customers and relay these orders to vendors and then the vendors ship the merchandise directly to the customer. 
C)  another name for customer logistics relationship. 
D)  always successful in shortening delivery times. 
E)  a system in which vendors receive orders from customers and then the vendors ship the merchandise ordered directly to the retailer.

Question 14

With __________,a jewellery store can identify a customer who has not visited the store lately and consider sending him a reminder that his wedding anniversary is this month.

Accepted Answer

A)  a retail information system 
B)  a data warehouse 
C)  a customer data system 
D)  a direct marketing system 
E)  a direct account management 
A)  a retail information system 
B)  a data warehouse 
C)  a customer data system 
D)  a direct marketing system 
E)  a direct account management

Question 15

Which of the following is responsible for gauging the needs of the customer?

Accepted Answer

A)  retailers 
B)  distributors 
C)  vendors 
D)  transportation companies 
E)  designers 
A)  retailers 
B)  distributors 
C)  vendors 
D)  transportation companies 
E)  designers

Question 16

What is an advantage of using RFID over traditional bar codes?

Accepted Answer

A)  RFID eliminates the bullwhip effect 
B)  RFID technology is inexpensive 
C)  RFID holds more data stored on the device 
D)  RFID makes tagging and pricing at DCs unnecessary 
E)  RFID cannot acquire data in harsh environments without a visual line of sight 
A)  RFID eliminates the bullwhip effect 
B)  RFID technology is inexpensive 
C)  RFID holds more data stored on the device 
D)  RFID makes tagging and pricing at DCs unnecessary 
E)  RFID cannot acquire data in harsh environments without a visual line of sight

Question 17

What happens when retailers and vendors do not coordinate their supply chain management activities?

Accepted Answer

A)  prices drop at the negotiation level 
B)  communication improves 
C)  the DC shuts down 
D)  inventory builds up in the supply chain 
E)  lower inventory leads to sell-outs 
A)  prices drop at the negotiation level 
B)  communication improves 
C)  the DC shuts down 
D)  inventory builds up in the supply chain 
E)  lower inventory leads to sell-outs

Question 18

Matthew made a purchase online of a Fender speaker system from a retailer.When the shipment of his purchase arrived at his home,he noticed that the product was shipped to him directly from Fender.The retailer and vendor are utilizing a system of _________.

Accepted Answer

A)  drop-shipping 
B)  cross-docking 
C)  outsourcing 
D)  third party logistics 
E)  vendor-managed inventory 
A)  drop-shipping 
B)  cross-docking 
C)  outsourcing 
D)  third party logistics 
E)  vendor-managed inventory

Question 19

Retailers with less sophisticated forecasting and information systems tend to use a(n):

Accepted Answer

A)  cost efficient logistic strategy 
B)  cross check logistic strategy 
C)  influential logistic strategy 
D)  pull supply chain 
E)  push supply chain 
A)  cost efficient logistic strategy 
B)  cross check logistic strategy 
C)  influential logistic strategy 
D)  pull supply chain 
E)  push supply chain

Question 20

What is logistics?

Accepted Answer

Logistics is the part of supply chain pr

CPFR partnerships require:

Which of the following does NOT describe the benefits of utilizing distribution centres over direct store delivery?

Which of the following is a benefit of the QR system?

Which of the following is not a benefit of a QR system?

Because of the nature of vendor-managed inventory:

____________ is the aspect of supply chain management which refers to the planning,implementation,and control of the efficient flow and storage of goods,services,and related information.It follows the process from the point of origin to the point of consumption to meet customers' requirements.

Which of the following does NOT describe an activity managed by distribution centres?

_______________ is the sharing of forecasts and related business information between retailers and vendors to improve supply chain efficiency and product replenishment.

____________ is an approach for improving supply chain efficiency in which the vendor is responsible for maintaining the retailer's inventory levels in each of its stores.

Joanne manages a gift shop.She wants to reduce the time between when she realizes she needs to order more stock and the arrival of the ordered inventory in the store.Joanne believes a quick response (QR)delivery system can reduce:

By using EDI in the QR system,lead times are reduced because:

Drop-shipping is:

With __________,a jewellery store can identify a customer who has not visited the store lately and consider sending him a reminder that his wedding anniversary is this month.

Which of the following is responsible for gauging the needs of the customer?

What is an advantage of using RFID over traditional bar codes?

What happens when retailers and vendors do not coordinate their supply chain management activities?

Matthew made a purchase online of a Fender speaker system from a retailer.When the shipment of his purchase arrived at his home,he noticed that the product was shipped to him directly from Fender.The retailer and vendor are utilizing a system of _________.

Retailers with less sophisticated forecasting and information systems tend to use a(n):

What is logistics?

Introduction to the World of Retailing

Types of Retailers

Customer Buying Behaviour

Retail Market Strategy

Retail Locations Strategytrade Area Decisions and Site Assessment

Store Design, layout, and Visual Merchandising Strategy

International Retailing Strategy

Financial Strategy

Merchandise Management

Buying Strategies

Retail Pricing

Human Resource Management and Staff Training Issues

Building Customer Loyalty: Customer Relationship Management and Service Strategies

Appealing to the Customer: Retail Communication Mix

Filters

Exam 9: Information Systems and Supply Chain Management

CPFR partnerships require:

Which of the following does NOT describe the benefits of utilizing distribution centres over direct store delivery?

Which of the following is a benefit of the QR system?

Which of the following is not a benefit of a QR system?

Because of the nature of vendor-managed inventory:

____________ is the aspect of supply chain management which refers to the planning,implementation,and control of the efficient flow and storage of goods,services,and related information.It follows the process from the point of origin to the point of consumption to meet customers' requirements.

Which of the following does NOT describe an activity managed by distribution centres?

_______________ is the sharing of forecasts and related business information between retailers and vendors to improve supply chain efficiency and product replenishment.

____________ is an approach for improving supply chain efficiency in which the vendor is responsible for maintaining the retailer's inventory levels in each of its stores.

Joanne manages a gift shop.She wants to reduce the time between when she realizes she needs to order more stock and the arrival of the ordered inventory in the store.Joanne believes a quick response (QR)delivery system can reduce:

By using EDI in the QR system,lead times are reduced because:

Drop-shipping is:

With __________,a jewellery store can identify a customer who has not visited the store lately and consider sending him a reminder that his wedding anniversary is this month.

Which of the following is responsible for gauging the needs of the customer?

What is an advantage of using RFID over traditional bar codes?

What happens when retailers and vendors do not coordinate their supply chain management activities?

Matthew made a purchase online of a Fender speaker system from a retailer.When the shipment of his purchase arrived at his home,he noticed that the product was shipped to him directly from Fender.The retailer and vendor are utilizing a system of _________.

Retailers with less sophisticated forecasting and information systems tend to use a(n):

What is logistics?

Introduction to the World of Retailing

Types of Retailers

Customer Buying Behaviour

Retail Market Strategy

Retail Locations Strategytrade Area Decisions and Site Assessment

Store Design, layout, and Visual Merchandising Strategy

International Retailing Strategy

Financial Strategy

Merchandise Management

Buying Strategies

Retail Pricing

Human Resource Management and Staff Training Issues

Building Customer Loyalty: Customer Relationship Management and Service Strategies

Appealing to the Customer: Retail Communication Mix

Filters