Business of Wine Flashcards
MW Level approach to the business of wine paper
3PL
Third–party logistics. Third–party logistics (abbreviated 3PL, or sometimes TPL) in logistics and supply chain management is a company’s use of third–party businesses to outsource elements of the company’s distribution and fulfillment services. Third–party logistics providers typically specialize in integrated operation, warehousing and transportation services which can be scaled and customized to customers’ needs based on market conditions, such as the demands and delivery service requirements for their products and materials. Often, these services go beyond logistics and include value–added services related to the production or procurement of goods, i.e., services that integrate parts of the supply chain. When this integration occurs, the provider is then called a third–party supply chain management provider (3PSCM) or supply chain management service provider (SCMSP). 3PL targets particular functions within supply management, such as warehousing, transportation, or raw material provision.
A disposable plastic bag intended for installation in a standard 20ft shipping container and used for shipping bulk wine:
Flexi–Tanks
As of 2015, which country is #6 for over–all production in Europe? What is the red/white ratio and % of spirits?
Romania 85% white wine, 15% red wine
Automated technology implementation addresses (3) things:
changing customer expectations growing regulatory requirements globalization of the supply chain
Brand Management
In marketing, brand management is the analysis and planning on how that brand is perceived in the market. Developing a good relationship with the target market is essential for brand management. Tangible elements of brand management include the product itself; look, price, the packaging, etc.
Brand Managers
Brand managers are responsible for ensuring that the products, services and product lines that fall under their domain resonate with current and potential customers. To do so, these professionals continuously monitor marketing trends and keep a close eye on competetive products in the marketplace.
CAGR
The compound annual growth rate (CAGR) is a useful measure of growth over multiple time periods. It can be thought of as the growth rate that gets you from the initial investment value to the ending investment value if you assume that the investment has been compounding over the time period.
CIS (Region)
Commonwealth of Independent States (formerly the USSR)
Confirmation Bias
The tendancy to interpret new evidence as confirmation of one’s existing beliefs or theories
Corporations
a legal entity owned by shareholders with limited liability protection that allows it to be treated as separate and distinct from its owners
Detail the essay structure for: 4P Marketing Mix
The 4 p’s of marketing: Product Promotion Place Price
Detail the essay structure for: 7P Marketing Mix
The extended 7ps include the 4Ps and: People Process Physical Evidence
Detail the essay structure for: Yes But Yet
Thesis point of view First piece of evidence 2nd piece of evidence 3rd piece of evidence 4th piece of evidence Antithesis – consider the alternatives that contradict the evidence Conclude – Nevertheless the evidence above overwhelmingly confirms the thesis
Detail the essay structure for: PESTEL Analysis
Political Economic Social Legal Environmental Technilogical
Detail the essay structure for: SWOT Analysis
Strengths Weaknesses Opportunities Threats
DIFOT
DIFOT (delivery in full, on time) or OTIF (on–time and in–full [delivery]) is a measurement of logistics or delivery performance within a supply chain.
Ethical Trading Initiative (ETI)
The ETI Base Code is a code of labor practice, derived from the Conventions of the ILO. The code is generic, meaning that it is applicable for any type of company, in any place in the world. Companies can become members of ETI, and as such they adopt the Base Code and commit to making sure their suppliers work towards full compliance over time.
Exploitation costs of the hospitality facility.
the difference in retail price from off– to on–premise mark–ups on wine, and why they are different
Family Values
the moral and ethical principles and traditions practiced and communicated by a family throughout its business practices.
FSSC 22000
FSSC 22000 contains a complete certification scheme for Food Safety Systems and is fully based on the international, independent standards: ISO 22000, ISO 22003 with sector specific technical specifications for PRP’s and additional scheme requirements. FSSC 2200 is the only ISO based FSMS Certification Scheme that is recognized by the Global Food Safety Initiative (GFSI).
GDPR
General Data Protection Regulation EU regulation (May 25, 2018), aimed to protect personal data of anyone in the EU, and by companies that are doing any business within the EU, but not necessarily based in it. Privacy by default, rather than by request. Potential affects – DTC, marketing co’s, news outlets, subscription based entities, etc.
HACCP
Hazard Analysis Critical Control Point HACCP is a management system in which food safety is addressed through the analysis and control of biological, chemical, and physical hazards from raw material production, procurement and handling, to manufacturing, distribution and consumption of the finished product.
How has the drinking age population changed over the past few years?
Millennials (1980–2000) have steadily entered the LDA population (2.5M + in 2015), and the focus of drinks producers has been on this population segment, especially females.
