Omnichannel Glossary

Question 1

Define ‘Analytics’

Answer 1

Analysis of trading partner data to improve sales, balance inventories and enhance fulfillment performance

Question 2

Define ‘Assortment’

Answer 2

Used to enable rapid, new item set ups and automate change management of item information over time among trading partners

Question 3

Define ‘Canonical Data Model’

Answer 3

Normalizes data input and output among trading partners; enables companies to build one connection to the network to connect with every other member on the network

Question 4

Define ‘Community’

Answer 4

The process retailers, suppliers and other trading partners use to connect with each other to activate usage of an application on the retail business network with a new company

Question 5

Define ‘Development Environment’

Answer 5

Provides tools, resources and training to build applications that connect to the retail business network

Question 6

Define ‘Engine’

Answer 6

Shared services that connect partners, manage common transactions and improve business efficiency

Question 7

What are the four components of an ‘Engine’?

Answer 7

Communications, transformation, information services, and workflow

Question 8

Define ‘Fulfillment’

Answer 8

The end-to-end process of fulfilling an order to the consumer; includes orders, shipments, payments & returns

Question 9

Define ‘Graph’

Answer 9

A map of relationships among global trading partners in the network

Question 10

What are the 5 components of a graph?

Answer 10

Items, locations, orders, organizations, people

Question 11

Define ‘Network’

Answer 11

A community of retail organizations that is presented through trading partner maps and a canonical data model in trading partner interactions

Question 12

Define ‘Retail business network’

Answer 12

A community that organizations in the retail ecosystem join to connect with other members

Question 13

Define ‘Sourcing’

Answer 13

The process companies use to discover new trading partners that offer desired products and services meeting specific fulfillment, assortment and other requirements

Question 14

Define ‘Trading partner maps’

Answer 14

Prebuilt connections that enable data exchange between trading partners according to their business processes

Question 15

Define ‘3PL’

Answer 15

3rd party logistics

Question 16

Define ‘B2B’

Answer 16

Business to business; type of commerce transaction that exists between businesses

Question 17

Define ‘B2C’

Answer 17

Business to Consumer; businesses that sell primarily to individual consumers

Question 18

Define ‘Big-box store’

Answer 18

A large retail store whose physical layout resembles a large box from above

Question 19

Define ‘Brick-and-mortar’

Answer 19

A traditional “street-side” business that deals with its customers face to face in a store/office

Question 20

Define ‘Consumer experience’

Answer 20

The perception a patron has after engaging with a company, brand, product or service

Question 21

Define ‘CRM contact center’

Answer 21

Computer-based system that provide call and contact routing

Question 22

Define ‘Cross-docking’

Answer 22

A cost-effective and efficient distribution strategy; consolidates shipments and re-distributes partial loads

Question 23

Define ‘Customer’

Answer 23

The individual who is the entire objective of omnichannel

Question 24

Define ‘Customer Experience Management’ (CEM)

Answer 24

A business strategy that focuses and redefines the business from the customer viewpoint

Question 25

Define 'Delivery locations for customer pickup'

Answer 25

A location where a package can be picked up b y the customer

Question 26

Define 'Drop shipping'

Answer 26

A manufacturer or distributor fulfilling and shipping orders directly to end consumer

Question 27

Define 'E-commerce'

Answer 27

The buying and selling of goods on the internet

Question 28

Define 'Enterprise App Stores'

Answer 28

Applications are being developed with features and functionality of Amazon, Google, Facebook and the Apple App Store in mind to improve consumer experience

Question 29

Define 'E-Retailer'

Answer 29

A company whose primary business is the sale of goods and services through the internet

Question 30

Define 'Global markets'

Answer 30

Emerging online markets around the world; provide huge opportunity for retailers aiming to diversity revenues with online sales to customers abroad

Question 31

Define 'Home shopping'

Answer 31

Browsing and purchasing of goods offered on TV or using a computer

Question 32

Define 'Logistics'

Answer 32

Part of supply chain process that plans, implements and controls the flow and storage of goods

Question 33

Define 'Manufacturer-direct'

Answer 33

A business model in which the manufacturer sells goods directly to the end user of the product

Question 34

Define 'Mobile commerce'

Answer 34

The use of wireless handheld devices such as smart phones and laptops to conduct transactions online

Question 35

Define 'Mobile internet devices (MID)'

Answer 35

Small internet communications unit designed to provide information for the consumer market

Question 36

Define 'Multichannel'

Answer 36

An operational view - how you allow the customer to complete transactions in each channel

Question 37

Define 'Omnichannel fulfillment'

Answer 37

Fulfill every SKU from every channel for every demand source; prioritizes order delivery on individual customer needs

Question 38

Define 'Retailer'

Answer 38

A business or person that sells goods to the consumer

Question 39

Define 'RFID'

Answer 39

Radio Frequency Identification; data collection technology that uses electronic tags for storing data

Question 40

Define 'Shopping channels'

Answer 40

A television channel which shows products you can buy and allows you to buy them using your remote

Question 41

Define 'Showrooming'

Answer 41

Consumers using a physical retail establishment to research a purchase later made online (website or mobile)

Question 42

Define 'Social media'

Answer 42

Interaction among people through virtual communities and networks

Question 43

Define 'Storage lockers for deliveries'

Answer 43

Lockers placed in convenience stores that accept packages for customers to pickup later

Question 44

Define 'Store location rationalization'

Answer 44

Reorganization of a company to increase efficiency

Question 45

Define 'Suppliers'

Answer 45

Someone whose business is to supply a particular service or commodity

Question 46

Define 'Supply chain'

Answer 46

Process of moving goods from the customer order through distribution of products to customer