Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
17 Cards in this Set
- Front
- Back
Supply Chain Management
|
-set of approaches and techniques firms employ to efficiently integrate their suppliers, manufacturers, warehouses, stores and transportation intermediaries
|
|
Wholesalers
|
-firms engaged in buying, taking title to, often storing, and physically handling goods in large quantities, then reselling the goods to retailers
|
|
Marketing Channel
|
-set of institutions that transfer the ownership of and move goods from point of production to the point of consumption
-consists of all the institutions and marketing activities in the marketing process |
|
Logistics Management
|
-integration of two or more activities for the purpose of planning, implementing, and controlling the efficient flow of raw materials, in process inventory, and finished good from point of origin to point of consumption
|
|
Distribution Center
|
-facility for receipt, storage, and redistribution of goods to company stores or customers
-may be operated by retailers or manufacturers |
|
Universal Product Code
|
-indicates manufacturer of item, description of item, information about packaging, and special promotions
|
|
Advanced Shipping Notice
|
-electronic document that the suppliers sends the retailer in advance of a shipment to tell the retailer exactly what to expect in the shipment
|
|
Electronic Data Interchange
|
-the computer to computer exchange of business documents from a retailer to a vendor and back
|
|
Advantages of Distribution Center
|
-more accurate sales forecast
-enable retailer to carry less merchandise -easier to avoid running out of stock -retail store is usually more expensive |
|
Supply Chain
|
-group of firms that make and deliver a given set of goods and services
|
|
Channel Conflict
|
-conflict occurs when supply chain members are not in agreement about their goals, roles or rewards
|
|
Independent (Conventional) Supply Chain
|
-a loose coalition of several independently owned and operated supply chain members
-each member attempting to satisfy their own objectives and maximize their own profits |
|
Vertical Marketing System
|
-a supply chain in which the members act as a unified system
|
|
Administered Vertical Marketing System
|
-supply chain system where there is no common ownership and no contractual relationships, but the dominant channel member controls the channel relationship
|
|
Contractual Vertical Marketing System
|
-supply chain system where independent firms at different levels of the supply chain join together through contracts to obtain economies of scale and coordination to reduce conflict
|
|
Corporate Vertical Marketing System
|
-a system in which the parent company has complete control and can dictate the priorities and objectives of the supply chain
-it may own facilities such as manufacturing plants, retail stores, ect. |
|
Strategic Relationship (Partner Relationship)
|
-supply chain relationship that the members are committed to maintaining long term, investing in opportunities that are mutually beneficial
|