Question 1

The merchandise flow from the retailer back through the supply chain is termed _____.

Accepted Answer

A) reverse logistics 
B) third-party logistics 
C) inbound logistics 
D) supply chain management 
A) reverse logistics 
B) third-party logistics 
C) inbound logistics 
D) supply chain management

Question 2

What dollar amount in U.S.retail sales is lost each year due to employee theft,customer shoplifting,and vendor theft?

Accepted Answer

A) $15 billion 
B) $45 billion 
C) $75 billion 
D) $100 billion 
A) $15 billion 
B) $45 billion 
C) $75 billion 
D) $100 billion

Question 3

The primary difference between a merchandise mart and a trade show is based on _____.

Accepted Answer

A) cost 
B) location 
C) membership requirement 
D) permanence 
A) cost 
B) location 
C) membership requirement 
D) permanence

Question 4

A quick response (QR)inventory management system seeks to _____.

Accepted Answer

A) decrease inventory ordering costs 
B) decrease delivery lead time from vendors 
C) increase the quantity discounts available to a retailer 
D) decrease inventory holding costs 
A) decrease inventory ordering costs 
B) decrease delivery lead time from vendors 
C) increase the quantity discounts available to a retailer 
D) decrease inventory holding costs

Question 5

Unlike other methods of inventory management,logistics _____.

Accepted Answer

A) is concerned with the flow of information via paperless means 
B) regards order processing,transportation,warehousing,customer service,and inventory management as interdependent 
C) seeks to minimize inventory accumulations in the whole channel system 
D) seeks to trade off the lower inventory levels with lower levels of customer service 
A) is concerned with the flow of information via paperless means 
B) regards order processing,transportation,warehousing,customer service,and inventory management as interdependent 
C) seeks to minimize inventory accumulations in the whole channel system 
D) seeks to trade off the lower inventory levels with lower levels of customer service

Question 6

Which of the following illustrates reverse logistics?

Accepted Answer

A) a wholesaler implementing direct store distribution for a retailer 
B) a manufacturer implementing vendor-managed inventory for a retailer 
C) a wholesaler shipping a replacement part directly to a final consumer 
D) a retailer handling a product recall for a manufacturer 
A) a wholesaler implementing direct store distribution for a retailer 
B) a manufacturer implementing vendor-managed inventory for a retailer 
C) a wholesaler shipping a replacement part directly to a final consumer 
D) a retailer handling a product recall for a manufacturer

Question 7

Effective employee theft deterrents include _____.

Accepted Answer

A) alternating the direction of hangers on merchandise near exits 
B) using iron gates and/or shatterproof glass on display windows 
C) inspecting all packages brought into the store 
D) locking up trash containers kept outside 
A) alternating the direction of hangers on merchandise near exits 
B) using iron gates and/or shatterproof glass on display windows 
C) inspecting all packages brought into the store 
D) locking up trash containers kept outside

Question 8

A major benefit to central warehousing is direct product shipment to each store.

Accepted Answer

A) True 
 B)False

Question 9

A chargeback is a form of _____.

Accepted Answer

A) manufacturer-based channel power 
B) retailer-based channel power 
C) channel cooperation 
D) promotional allowance 
A) manufacturer-based channel power 
B) retailer-based channel power 
C) channel cooperation 
D) promotional allowance

Question 10

The most valuable source of information in implementing merchandise plans is the final consumer.

Accepted Answer

A) True 
 B)False

Question 11

An unsatisfactory evaluation may cause a retailer to reject an entire shipment.The retailer is using which form of merchandise evaluation?

Accepted Answer

A) sampling 
B) description 
C) inspection 
D) statistical evaluation 
A) sampling 
B) description 
C) inspection 
D) statistical evaluation

Question 12

Opportunistic buying is most commonly utilized by _____.

Accepted Answer

A) full-line discount houses 
B) off-price retailers 
C) supermarkets 
D) specialty stores 
A) full-line discount houses 
B) off-price retailers 
C) supermarkets 
D) specialty stores

Question 13

A merchandise mart can be best defined as a _____.

Accepted Answer

A) trade show featuring multiple suppliers that takes place in major cities 
B) permanent vendor showroom 
C) temporary vendor showroom 
D) resident buying office 
A) trade show featuring multiple suppliers that takes place in major cities 
B) permanent vendor showroom 
C) temporary vendor showroom 
D) resident buying office

Question 14

Inventory management planning is easiest for _____.

Accepted Answer

A) fad products 
B) growing products 
C) mature products 
D) staples 
A) fad products 
B) growing products 
C) mature products 
D) staples

Question 15

A retailer reduces its invoice by 5 percent since a supplier shipped seasonal merchandise 10 days late.The price reduction is designed to compensate the retailer for additional markdowns.This reduction illustrates a _____.

Accepted Answer

A) markdown adjustment 
B) slotting allowance 
C) slotting fee 
D) chargeback 
A) markdown adjustment 
B) slotting allowance 
C) slotting fee 
D) chargeback

Question 16

Efficient consumer response (ECR)incorporates quick response (QR)inventory planning,electronic data interchange (EDI),and logistics planning.

Accepted Answer

A) True 
 B)False

Question 17

In order for quick response (QR)inventory planning to be effective,_____.

Accepted Answer

A) inventory ordering costs need to be low 
B) inventory holding costs need to be low 
C) electronic data interchange must not be functioning 
D) shipping costs must be reduced 
A) inventory ordering costs need to be low 
B) inventory holding costs need to be low 
C) electronic data interchange must not be functioning 
D) shipping costs must be reduced

Question 18

The use of quick response inventory planning,electronic data interchange,and logistics planning by supermarkets is referred to as _____.

Accepted Answer

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

Question 19

Which statement concerning RFID (radio frequency identification)is not correct?

Accepted Answer

A) RFID is an alternative to the use of Universal Product Codes. 
B) Implementation costs for RFID are low. 
C) At present,the use of RFID by retailers is limited. 
D) RFID better enables a retailer to track inventory than UPC-based systems. 
A) RFID is an alternative to the use of Universal Product Codes. 
B) Implementation costs for RFID are low. 
C) At present,the use of RFID by retailers is limited. 
D) RFID better enables a retailer to track inventory than UPC-based systems.

Question 20

A disadvantage of maintaining a small inventory is _____.

Accepted Answer

A) high storage costs 
B) high chance of deterioration 
C) the high chance of stockouts 
D) high insurance costs 
A) high storage costs 
B) high chance of deterioration 
C) the high chance of stockouts 
D) high insurance costs

The merchandise flow from the retailer back through the supply chain is termed _____.

What dollar amount in U.S.retail sales is lost each year due to employee theft,customer shoplifting,and vendor theft?

The primary difference between a merchandise mart and a trade show is based on _____.

A quick response (QR)inventory management system seeks to _____.

Unlike other methods of inventory management,logistics _____.

Which of the following illustrates reverse logistics?

Effective employee theft deterrents include _____.

A major benefit to central warehousing is direct product shipment to each store.

A chargeback is a form of _____.

The most valuable source of information in implementing merchandise plans is the final consumer.

An unsatisfactory evaluation may cause a retailer to reject an entire shipment.The retailer is using which form of merchandise evaluation?

Opportunistic buying is most commonly utilized by _____.

A merchandise mart can be best defined as a _____.

Inventory management planning is easiest for _____.

A retailer reduces its invoice by 5 percent since a supplier shipped seasonal merchandise 10 days late.The price reduction is designed to compensate the retailer for additional markdowns.This reduction illustrates a _____.

Efficient consumer response (ECR)incorporates quick response (QR)inventory planning,electronic data interchange (EDI),and logistics planning.

In order for quick response (QR)inventory planning to be effective,_____.

The use of quick response inventory planning,electronic data interchange,and logistics planning by supermarkets is referred to as _____.

Which statement concerning RFID (radio frequency identification)is not correct?

A disadvantage of maintaining a small inventory is _____.

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy

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

The merchandise flow from the retailer back through the supply chain is termed _____.

What dollar amount in U.S.retail sales is lost each year due to employee theft,customer shoplifting,and vendor theft?

The primary difference between a merchandise mart and a trade show is based on _____.

A quick response (QR)inventory management system seeks to _____.

Unlike other methods of inventory management,logistics _____.

Which of the following illustrates reverse logistics?

Effective employee theft deterrents include _____.

A major benefit to central warehousing is direct product shipment to each store.

A chargeback is a form of _____.

The most valuable source of information in implementing merchandise plans is the final consumer.

An unsatisfactory evaluation may cause a retailer to reject an entire shipment.The retailer is using which form of merchandise evaluation?

Opportunistic buying is most commonly utilized by _____.

A merchandise mart can be best defined as a _____.

Inventory management planning is easiest for _____.

A retailer reduces its invoice by 5 percent since a supplier shipped seasonal merchandise 10 days late.The price reduction is designed to compensate the retailer for additional markdowns.This reduction illustrates a _____.

Efficient consumer response (ECR)incorporates quick response (QR)inventory planning,electronic data interchange (EDI),and logistics planning.

In order for quick response (QR)inventory planning to be effective,_____.

The use of quick response inventory planning,electronic data interchange,and logistics planning by supermarkets is referred to as _____.

Which statement concerning RFID (radio frequency identification)is not correct?

A disadvantage of maintaining a small inventory is _____.

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy

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