Chapter 8 Flashcards
This is a marketing activity that plans, implements and controls movement of goods from origin to consumption.
Logistics management
An efficient supply chain could translate to fewer of these situations.
Stock-outs
This covers planning, implementing, and controlling movement of raw materials and products from origin to consumption.
Logistics management in marketing
This is a part of supply chain process that plans, implements, and controls the efficient, effective flow and storage of goods.
Logistics
It is the management of the flow of goods, data, and finances related to a product or service from the procurement of raw materials to the delivery of the product at its final destination.
Supply Chain Management
Two factors that have driven the phenomenal growth of retailing.
Information and Communication Technology, and Supply chain management
Provide atleast 3 Benefits of supply chain.
-Improved product availability
-Improved return on investment
-Understanding the supply chain management principles
-Our country’s logistic terrain
-Optimizing logistic network
Information and Communication Technology (ICT) has no impact on the growth of the retailing industry.
FALSE
ICT allows retailers to precisely track sales on a per item basis.
TRUE
Supply chain management does not play a role in achieving sustainable competitive advantage for a retail firm.
FALSE
Logistics management covers only the movement of finished products from the point of origin to the point of consumption.
FALSE
ICT network connectivity does not help in avoiding stock outs in store outlets.
FALSE
Retail ICT is not involved in the planning, implementation, and control of the flow of goods and services.
FALSE
ICT in supply chain management can lead to higher sales for retailers.
TRUE
Supply chain management focuses only on the storage of goods, not the flow of information.
FALSE
