Question 1

The basic difference between consignment and memorandum purchases is based on the size of the order.

Accepted Answer

A) True 
 B)False

Question 2

Opportunistic buying is common among off-price retailers.

Accepted Answer

A) True 
 B)False

Question 3

Some retailers excessively use chargebacks as a means of getting price reductions from vendors.

Accepted Answer

A) True 
 B)False

Question 4

Collaborative planning,forecasting,and replenishment (CPFR)and efficient consumer response (ECR)rely upon supply chain management.

Accepted Answer

A) True 
 B)False

Question 5

A department store requires its ladies suit vendors to pre-ticket garments,press them,and place them on hangers.The strategy most directly describes which policy?

Accepted Answer

A) logistics management 
B) electronic data interchange 
C) floor-ready management 
D) efficient consumer response 
A) logistics management 
B) electronic data interchange 
C) floor-ready management 
D) efficient consumer response

Question 6

An important source of information about consumer demand is the want book or want slip.

Accepted Answer

A) True 
 B)False

Question 7

As compared with direct store delivery,a major advantage to the use of central warehousing is the _____.

Accepted Answer

A) need for lower overall inventory levels 
B) need for extra handling for perishables 
C) ability to easily shift goods from one retail location to another 
D) increased capability for quick response inventory planning 
A) need for lower overall inventory levels 
B) need for extra handling for perishables 
C) ability to easily shift goods from one retail location to another 
D) increased capability for quick response inventory planning

Question 8

To be effective,supply chain management must involve all of the parties that participate in the retail logistics process.

Accepted Answer

A) True 
 B)False

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

Which full-service merchant wholesaler carries a very deep assortment?

Accepted Answer

A) general merchandise 
B) specialty merchandise 
C) drop shipper 
D) cash-and-carry 
A) general merchandise 
B) specialty merchandise 
C) drop shipper 
D) cash-and-carry

Question 11

A quick response (QR)inventory planning system is most effective when used in conjunction with _____.

Accepted Answer

A) scrambled merchandising 
B) floor-ready merchandise 
C) efficient consumer response 
D) electronic article surveillance 
A) scrambled merchandising 
B) floor-ready merchandise 
C) efficient consumer response 
D) electronic article surveillance

Question 12

Excessive use of chargebacks by a retailer illustrates _____.

Accepted Answer

A) scrambled merchandising 
B) channel power 
C) the retail life cycle 
D) channel cooperation 
A) scrambled merchandising 
B) channel power 
C) the retail life cycle 
D) channel cooperation

Question 13

The purchase of out-of-season goods,manufacturer overruns,or cancelled orders by a closeout retailer illustrates _____.

Accepted Answer

A) inspection buying 
B) channel power 
C) opportunistic buying 
D) scrambled merchandising 
A) inspection buying 
B) channel power 
C) opportunistic buying 
D) scrambled merchandising

Question 14

A retailer can eliminate use of its own warehouses through _____.

Accepted Answer

A) ordering goods in large quantities 
B) use of direct store delivery 
C) use of electronic data interchange with key vendors 
D) supply chain management initiatives with key suppliers 
A) ordering goods in large quantities 
B) use of direct store delivery 
C) use of electronic data interchange with key vendors 
D) supply chain management initiatives with key suppliers

Question 15

According to a major study of inventory shrinkage,_____.

Accepted Answer

A) vendors' short shipping accounts for the major cause of inventory shrinkage 
B) customers steal more than employees 
C) employees account for more inventory shrinkage than customers 
D) electronic article surveillance is not an effective deterrent of inventory shrinkage 
A) vendors' short shipping accounts for the major cause of inventory shrinkage 
B) customers steal more than employees 
C) employees account for more inventory shrinkage than customers 
D) electronic article surveillance is not an effective deterrent of inventory shrinkage

Question 16

A major problem associated with the use of want books (want slips)is that this technique _____.

Accepted Answer

A) requires a sophisticated data base 
B) relies on retail salespeople to enter the relevant information 
C) requires a computer-based retail information system 
D) requires electronic data interchange capability 
A) requires a sophisticated data base 
B) relies on retail salespeople to enter the relevant information 
C) requires a computer-based retail information system 
D) requires electronic data interchange capability

Question 17

A retailer found that a small percent of goods represented a large proportion of the store's total shrinkage.Which of the following strategies would be most effective?

Accepted Answer

A) use of in-store guards 
B) electronic article surveillance on the affected goods 
C) use of employee background checks 
D) use of mystery shoppers to watch for shoplifting 
A) use of in-store guards 
B) electronic article surveillance on the affected goods 
C) use of employee background checks 
D) use of mystery shoppers to watch for shoplifting

Question 18

Which of the following is an advantage of central warehousing for a chain retailer?

Accepted Answer

A) lower transportation costs to individual stores 
B) closeness to individual stores 
C) increased capability of quick response systems 
D) increased use of mechanization in the processing of goods 
A) lower transportation costs to individual stores 
B) closeness to individual stores 
C) increased capability of quick response systems 
D) increased use of mechanization in the processing of goods

Question 19

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

The basic difference between consignment and memorandum purchases is based on the size of the order.

Opportunistic buying is common among off-price retailers.

Some retailers excessively use chargebacks as a means of getting price reductions from vendors.

Collaborative planning,forecasting,and replenishment (CPFR)and efficient consumer response (ECR)rely upon supply chain management.

A department store requires its ladies suit vendors to pre-ticket garments,press them,and place them on hangers.The strategy most directly describes which policy?

An important source of information about consumer demand is the want book or want slip.

As compared with direct store delivery,a major advantage to the use of central warehousing is the _____.

To be effective,supply chain management must involve all of the parties that participate in the retail logistics process.

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

Which full-service merchant wholesaler carries a very deep assortment?

A quick response (QR)inventory planning system is most effective when used in conjunction with _____.

Excessive use of chargebacks by a retailer illustrates _____.

The purchase of out-of-season goods,manufacturer overruns,or cancelled orders by a closeout retailer illustrates _____.

A retailer can eliminate use of its own warehouses through _____.

According to a major study of inventory shrinkage,_____.

A major problem associated with the use of want books (want slips)is that this technique _____.

A retailer found that a small percent of goods represented a large proportion of the store's total shrinkage.Which of the following strategies would be most effective?

Which of the following is an advantage of central warehousing for a chain retailer?

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

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 basic difference between consignment and memorandum purchases is based on the size of the order.

Opportunistic buying is common among off-price retailers.

Some retailers excessively use chargebacks as a means of getting price reductions from vendors.

Collaborative planning,forecasting,and replenishment (CPFR)and efficient consumer response (ECR)rely upon supply chain management.

A department store requires its ladies suit vendors to pre-ticket garments,press them,and place them on hangers.The strategy most directly describes which policy?

An important source of information about consumer demand is the want book or want slip.

As compared with direct store delivery,a major advantage to the use of central warehousing is the _____.

To be effective,supply chain management must involve all of the parties that participate in the retail logistics process.

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

Which full-service merchant wholesaler carries a very deep assortment?

A quick response (QR)inventory planning system is most effective when used in conjunction with _____.

Excessive use of chargebacks by a retailer illustrates _____.

The purchase of out-of-season goods,manufacturer overruns,or cancelled orders by a closeout retailer illustrates _____.

A retailer can eliminate use of its own warehouses through _____.

According to a major study of inventory shrinkage,_____.

A major problem associated with the use of want books (want slips)is that this technique _____.

A retailer found that a small percent of goods represented a large proportion of the store's total shrinkage.Which of the following strategies would be most effective?

Which of the following is an advantage of central warehousing for a chain retailer?

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

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