Question 1

The first step in implementing merchandise plans is selecting and interacting with merchandise sources.

Accepted Answer

A) True 
 B)False

Question 2

Opportunistic buying generally relies upon negotiated contracts.

Accepted Answer

A) True 
 B)False

Question 3

A major advantage to placing a large order is the savings on overall insurance costs.

Accepted Answer

A) True 
 B)False

Question 4

The use of shopping bots is associated with _____.

Accepted Answer

A) want books (want slips) 
B) third-party logistics 
C) comparison shopping 
D) merchandise marts 
A) want books (want slips) 
B) third-party logistics 
C) comparison shopping 
D) merchandise marts

Question 5

A regular order is characterized by _____.

Accepted Answer

A) the use of opportunistic buying by a discounter 
B) a high degree of negotiation on an ongoing basis 
C) a high level of opportunistic buying 
D) a uniform contract with standardized terms 
A) the use of opportunistic buying by a discounter 
B) a high degree of negotiation on an ongoing basis 
C) a high level of opportunistic buying 
D) a uniform contract with standardized terms

Question 6

Which one of the following activities by suppliers is not associated with a floor-ready merchandise strategy?

Accepted Answer

A) requiring large minimum order sizes 
B) placing of special tags on merchandise 
C) placing merchandise on hangers 
D) pre-ticketing of merchandise 
A) requiring large minimum order sizes 
B) placing of special tags on merchandise 
C) placing merchandise on hangers 
D) pre-ticketing of merchandise

Question 7

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 
C) applied procurement planning 
D) electronic data interchange 
A) third-party logistics 
B) collaborative planning,forecasting,and replenishment 
C) applied procurement planning 
D) electronic data interchange

Question 8

Slotting allowances illustrate the high power large retailers have over major vendors.

Accepted Answer

A) True 
 B)False

Question 9

Quick response (QR)inventory planning is generally used in conjunction with electronic data interchange (EDI).

Accepted Answer

A) True 
 B)False

Question 10

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 11

Which of the following is not a logistics-based performance goal?

Accepted Answer

A) efficiently placing merchandise on the sales floor 
B) effectively coordinating shipments from various suppliers 
C) effectively minimizing markdowns through timing markdowns 
D) effectively returning damaged goods to their vendor 
A) efficiently placing merchandise on the sales floor 
B) effectively coordinating shipments from various suppliers 
C) effectively minimizing markdowns through timing markdowns 
D) effectively returning damaged goods to their vendor

Question 12

Description buying is most appropriate for _____.

Accepted Answer

A) breakable,perishable,or expensive items 
B) standardized,nonbreakable,and nonperishable merchandise 
C) jewelry and art works 
D) nonstandardized,breakable,and perishable merchandise 
A) breakable,perishable,or expensive items 
B) standardized,nonbreakable,and nonperishable merchandise 
C) jewelry and art works 
D) nonstandardized,breakable,and perishable merchandise

Question 13

In inspection,individual items are sampled for their quality and condition.

Accepted Answer

A) True 
 B)False

Question 14

Third-party logistics is another term for _____.

Accepted Answer

A) outsourcing logistics 
B) quick response inventory management 
C) supply chain management 
D) floor-ready merchandise 
A) outsourcing logistics 
B) quick response inventory management 
C) supply chain management 
D) floor-ready merchandise

Question 15

The logistics aspect of a value delivery chain is _____.

Accepted Answer

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

Question 16

A major difference in outbound logistics for store-based versus Web-based retailers is the need for Web-based retailers to _____.

Accepted Answer

A) decentralize warehousing 
B) work closely with suppliers to ensure timely receipt of merchandise by the retailer 
C) ensure that products are delivered to final customers 
D) utilize floor-ready merchandise 
A) decentralize warehousing 
B) work closely with suppliers to ensure timely receipt of merchandise by the retailer 
C) ensure that products are delivered to final customers 
D) utilize floor-ready merchandise

Question 17

An effective store security program needs to be operational _____.

Accepted Answer

A) only when the store is closed 
B) only when the store is open 
C) only with customers 
D) with customers and employees when the store is both closed and open 
A) only when the store is closed 
B) only when the store is open 
C) only with customers 
D) with customers and employees when the store is both closed and open

Question 18

An example of an item that should be evaluated by a retailer that uses inspection is _____.

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 19

The use of collaborative planning,forecasting,and replenishment (CPFR)is generally associated with outside,new suppliers.

Accepted Answer

A) True 
 B)False

Question 20

A comprehensive store security program needs to concentrate on losses due to employee,customer,and vendor theft.

Accepted Answer

A) True 
 B)False

The first step in implementing merchandise plans is selecting and interacting with merchandise sources.

Opportunistic buying generally relies upon negotiated contracts.

A major advantage to placing a large order is the savings on overall insurance costs.

The use of shopping bots is associated with _____.

A regular order is characterized by _____.

Which one of the following activities by suppliers is not associated with a floor-ready merchandise strategy?

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

Slotting allowances illustrate the high power large retailers have over major vendors.

Quick response (QR)inventory planning is generally used in conjunction with electronic data interchange (EDI).

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

Which of the following is not a logistics-based performance goal?

Description buying is most appropriate for _____.

In inspection,individual items are sampled for their quality and condition.

Third-party logistics is another term for _____.

The logistics aspect of a value delivery chain is _____.

A major difference in outbound logistics for store-based versus Web-based retailers is the need for Web-based retailers to _____.

An effective store security program needs to be operational _____.

An example of an item that should be evaluated by a retailer that uses inspection is _____.

The use of collaborative planning,forecasting,and replenishment (CPFR)is generally associated with outside,new suppliers.

A comprehensive store security program needs to concentrate on losses due to employee,customer,and vendor theft.

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 first step in implementing merchandise plans is selecting and interacting with merchandise sources.

Opportunistic buying generally relies upon negotiated contracts.

A major advantage to placing a large order is the savings on overall insurance costs.

The use of shopping bots is associated with _____.

A regular order is characterized by _____.

Which one of the following activities by suppliers is not associated with a floor-ready merchandise strategy?

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

Slotting allowances illustrate the high power large retailers have over major vendors.

Quick response (QR)inventory planning is generally used in conjunction with electronic data interchange (EDI).

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

Which of the following is not a logistics-based performance goal?

Description buying is most appropriate for _____.

In inspection,individual items are sampled for their quality and condition.

Third-party logistics is another term for _____.

The logistics aspect of a value delivery chain is _____.

A major difference in outbound logistics for store-based versus Web-based retailers is the need for Web-based retailers to _____.

An effective store security program needs to be operational _____.

An example of an item that should be evaluated by a retailer that uses inspection is _____.

The use of collaborative planning,forecasting,and replenishment (CPFR)is generally associated with outside,new suppliers.

A comprehensive store security program needs to concentrate on losses due to employee,customer,and vendor theft.

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