Deck 4: Retail Value Chain Management

Question 1

At one time groceries were in the supply chain _______________,due to ECR the time is now _______________ or less.

Answer 1

104 days,61 days

Question 2

The benefits of this initiative includes reduced failure rate of new products and determining the profitability of a product:

A)Efficient assortment
B)Efficient product introduction
C)Efficient replenishment
D)Efficient promotions

Answer 2

B

Question 3

This process originally meant merchandise was moved from one truck to another.

A)Advanced shipping notice
B)Cross docking
C)Direct store delivery
D)Forward buying

Answer 3

B

Question 4

The purpose of this initiative was to streamline the distribution of goods all the way from the assembly line to the checkout line.

A)Efficient assortment
B)Efficient product introductions
C)Efficient replenishment
D)Efficient promotions

Question 5

_______________ focuses on providing the right product at the right time to the right consumer.

Question 6

This movement was developed in the 1990's to improve the supply chain in food retailing:

A)Collaboration,planning,forecasting,and replenishment model
B)Efficient consumer response
C)Quick response
D)Total quality management

Question 7

This is purchasing large quantities of merchandise when offered at a discount by the manufacturer:

A)Advanced shipping notice
B)Cross docking
C)Forward buying
D)Slotting fees

Question 8

A flow of processes in which a product gains value.

A)Consumer chain
B)Product chain
C)Supply chain
D)Value chain

Question 9

In the past,__________ consisted of a combination of advertising,consumer promotion,and trade promotion.

A)Efficient assortment
B)Efficient product introductions
C)Efficient replenishment
D)Efficient promotions

Question 10

The major obstacle in implementing ECR is _______________.

Question 11

A standard way soft drinks,snacks,and chips are delivered to stores is through:

A)Advanced shipping notice
B)Cross docking
C)Direct store delivery
D)Forward buying

Question 12

This initiative was designed to increase the success rate of new products by gathering and sharing among trading partners more accurate purchasing data on a timely basis.

A)Efficient assortment
B)Efficient product introductions
C)Efficient replenishment
D)Efficient promotions

Question 13

This initiative in retailing offers manufacturers a competitive advantage to reduce inventory levels,improve merchandise quality,increase worker productivity,increase stock turnover,and reduce merchandise markdowns:

A)Collaboration,planning,forecasting,and replenishment model
B)Efficient consumer response
C)Quick response
D)Total quality management

Question 14

This movement began in the 1950's to improve quality in the manufacturing industry:

A)Collaboration,planning,forecasting,and replenishment model
B)Efficient consumer response
C)Quick response
D)Total quality management

Question 15

This process enables retailers and suppliers to manage all touch points of the customer experience:

A)Collaborative customer relationship management
B)Collaborative customer assortment management
C)Collaborative vendor relationship management
D)Collaborative retailer-vendor management

Question 16

The goal of efficient assortment is to:

A)Increase the success rate of new products
B)To streamline the distribution of goods
C)To optimize the product mix and space allocation
D)Reduce warehousing and distribution costs

Question 17

Which of the following is NOT true in regard to the development of changes in the flow of processes:

A)Competition within the retail industry
B)Intense price competition
C)Power of global retail giants
D)Shrinking number of private label products

Question 18

Value chain analysis allows retailers to:

A)Communication between suppliers and retailers
B)Get new information about the cost structure
C)Implementing radio frequency identification
D)Optimizing product assortment

Question 19

This is a fee suppliers pay to retailers for shelf space in a store:

A)Direct store delivery fee
B)Forward buying
C)Rent
D)Slotting fees

Question 20

The purpose of this initiative was to optimize the product mix and space allocation and thereby increase sales productivity and inventory turnover.

A)Efficient assortment
B)Efficient product introductions
C)Efficient replenishment
D)Efficient promotions

Question 21

_______________ of line extensions failed within a year.

Question 22

_______________,_______________ ,or _______________ is an example of a promotion directed to the customer.

Question 23

_______________ is the analysis,decisions,and actions an organization undertakes to create and sustain competitive advantage.

Question 24

_______________ was a strategy developed by the apparel industry in the 1980's.

Question 25

_______________ of replicated products failed with a year.

Question 26

A _______________ is a new flavor,size or other attribute of an existing brand.

Question 27

_______________ will cause ECR to constantly evolve.

Question 28

Of truly new products _______________ were failures/near failures within a year.

Question 29

_______________ was the first time retailers and suppliers worked together to develop a concrete framework for working together.