Question 1

Steven managed an auto parts store in the 1990s.At that time,stock-outs--failure to have the parts auto mechanics needed to do their work that day--increased the likelihood of the mechanics becoming customers of competing auto supply stores.To avoid this problem and keep his business customers,Steven most likely:

Accepted Answer

By stockpiling inventory Steven can avoid stock-outs and ensure that he has the necessary parts for his customers, reducing the likelihood of mechanics becoming customers of competitors. Although this may add to the cost of providing auto parts, it is a necessary expense to maintain customer loyalty and prevent lost sales. Cancelling orders and shifting business to competitors or increasing promotional outlays may not be effective in addressing the root problem of stock-outs. Exclusive geographic territories and traditional distribution center logistics may not directly address the issue of stock-outs.

Question 2

A _______________ is a facility for the receipt,storage,and redistribution of goods to company stores or customers.

Accepted Answer

A distribution center is specifically designed and operated to efficiently receive, store, and distribute goods to company stores or customers. Circulation center and supply chain hub are not commonly used terms in relation to logistics and warehousing. Collaborative replenishment office and floor-ready franchising center are not specific to receiving, storing, and distributing goods.

Question 3

Roland has just received notification from a vendor that his clothing merchandise order has been processed and dispatched.Roland has just received a(n):

Accepted Answer

An advanced shipping notice is a notification sent by a vendor to a buyer to inform them that an order has been processed and dispatched. This allows the buyer to track the shipment and prepare for its arrival.

Question 4

As a very small golf equipment manufacturer,Dr.Putt maintained information using bookkeeping and inventory management software and communicated with customers through e-mail.As business expanded,Dr.Putt needed an electronic data interchange system that would allow him to:

Accepted Answer

Dr.Putt needed an electronic data interchange system that would cover all aspects of his expanding business, including receiving sales data, initiating purchase orders, sending and receiving invoices, and receiving returned merchandise documentation. Therefore, the best choice is E, which includes all options.

Question 5

Flora is frustrated with her company's supply chain management information system.She wants to be able to receive sales data,initiate purchase orders,send and receive invoices,and receive returned merchandise documentation.Flora needs a(n):

Accepted Answer

Electronic data interchange systems (EDI) allow for the electronic exchange of business documents such as sales data, purchase orders, invoices, and returned merchandise documentation. EDI can streamline supply chain management processes and improve efficiency. The other choices, such as cross-docking exchanges, floor-ready bundling systems, vertical conflict reduction systems, and radio frequency identification systems, do not directly address Flora's need for a comprehensive information system for supply chain management.

Question 6

Sometimes,what consumers perceive as bait-and-switch marketing--advertising a low-priced product and then only having higher-priced models--is in fact:

Accepted Answer

The answer of Sometimes,what consumers perceive as bait-and-switch marketing--advertising a...

Question 7

One of the benefits of EDI is that it can reduce cycle time,which is __________.

Accepted Answer

Cycle time refers to the time it takes for an order to be placed and the merchandise to be received. EDI can reduce this time by enabling real-time communication and electronic processing of transactions, eliminating manual processes and delays.

Question 8

Compared to the 1990s,supply chain management streamlines distribution by reducing problems associated with all of the following EXCEPT:

Accepted Answer

Supply chain management streamlines distribution by reducing problems associated with misplaced, lost, and misdirected orders and shipments, as well as minimizing the occurrence of orders for goods that are not available. However, it does not directly address the verification of promotional allowances, which is typically handled through accounting and financial processes.

Question 9

A distribution center is typically operated by:

Accepted Answer

A distribution center is typically operated by retailers, manufacturers, or distribution specialists who manage the flow of goods from the point of origin to the point of consumption.

Question 10

CPFR refers to __________________________ inventory management systems.

Accepted Answer

CPFR stands for collaborative planning, forecasting, and replenishment, which is a type of inventory management system that uses collaboration between trading partners to plan their inventory and coordinate replenishment orders.

Question 11

Zara's success as a clothing retailer derives from its innovations in the retail area and its mastery of supply chain management.Zara _________________________.

Accepted Answer

Zara's success in supply chain management comes from its own flexible worldwide distribution network, which allows them to quickly respond to changes in consumer demand and get new trends and styles on shelves within weeks. They do not make all the fabric they use nor do they cut and sew all their clothing. Zara is also not primarily a franchise-based retailer.

Question 12

When electronic data interchanges (EDIs)are used to describe the benefits of new products and provide pictures and information they support the _____________ element in the four Ps of marketing.

Accepted Answer

Electronic data interchanges (EDIs) are a type of promotion tool used to provide information about new products, their features and benefits, and even visual representations of the products. Therefore, the use of EDIs supports the promotion element in the four Ps of marketing.

Question 13

In addition to merchandise and payments,information flows throughout a supply chain.Which of the following is NOT a good characterization of the flow of information in a supply chain?

Accepted Answer

The answer of In addition to merchandise and payments,information flows...

Question 14

International supply chains add layers of complexity to the flow of information,merchandise and payments.Neiman Marcus has been able to develop expedited shipments through customs,which gives it an advantage in having the most up-to-date merchandise,by:

Accepted Answer

Neiman Marcus has been able to develop expedited shipments through customs by using an Internet-based information system to ensure all paperwork and documentation are properly prepared on time. This helps them to have the most up-to-date merchandise and avoid delays and additional costs associated with customs processes. Option A is not a legal or ethical approach. Option B may be difficult to implement and may add costs for consumers. Option D limits the scope of suppliers and may not provide the desired merchandise. Option E is not a feasible or legal option.

Question 15

Jośe has been a manufacturer's representative for over 20 years.He was ecstatic when he got electronic access to his manufacturer's inventory.This allows him to avoid the supply chain problem of:

Accepted Answer

By having electronic access to the manufacturer's inventory, Jośe can easily see what products are available and avoid promising delivery of products that are not available, thus overcoming the problem of supply chain.

Question 16

When a customer purchases a DVD at a Best Buy Electronics store,all of the following information flows in the supply chain are started EXCEPT:

Accepted Answer

The answer of When a customer purchases a DVD at...

Question 17

In a CPFR system,information is used to:

Accepted Answer

In a CPFR (Collaborative Planning Forecasting and Replenishment) system, information is used to generate a sales forecast and a delivery schedule by collaborating and sharing information between supply chain partners. This information includes sales data, inventory levels, and promotional activities to help determine production schedules and inventory levels. Therefore, choice A is the best answer. Choices B, C, D, and E are not directly related to the purpose of CPFR.

Question 18

In CPFR inventory management systems,_____________________.

Accepted Answer

In CPFR (Collaborative Planning, Forecasting, and Replenishment) inventory management systems, retailers send sales and inventory information to the manufacturers. This allows the manufacturers to better forecast demand and plan production and replenishment accordingly. It also helps ensure that the retailer maintains sufficient inventory levels to meet customer demand.

Question 19

Today,when a customer orders merchandise from an online vendor,the vendor usually sends an immediate order confirmation message by e-mail.Usually within a day or two,a second message arrives stating that the order is in the mail.This second message is a type of:

Accepted Answer

The second message that arrives within a day or two after the order confirmation and states that the order is in the mail is known as an advanced shipping notice (ASN). This message provides information about the shipment of the order, including the carrier used, tracking number, and expected delivery date. This helps the customer track their package and ensures that they receive their order in a timely and organized manner.

Question 20

Typically,manufacturers and retailers exchange business documents through a(n)_______________________ system.

Accepted Answer

Electronic data interchange (EDI) is a system that allows for the electronic exchange of business documents between manufacturers and retailers. It enables efficient and accurate communication, as well as cost reduction and time savings. The other options listed are not relevant to this process.

Quiz 15: Value Delivery: Designing the Channel and Supply Chain