Marketing quiz 14

Administered vertical marketing system
no common ownership and no contractual relationships, but dominant channel member controls the channel relationships
advanced shipping notice (ASN)
electronic document that supplier sends the retailer to tell retailer what to expect in shipment
checking
The process of going through the goods upon receipt to ensure they arrived
Coercive power
channel member exerting the power threatens to punish another channel member for not undertaking certain tasks
collaborating planning, forecasting, and replenishment (CPFR)
inventory management system that uses electronic data interchange which a retailer sends sales info to manufacturer
consignment
manufacturer owns the merchandise until it is sold by retailer
contractual vertical marketing system
A system in which independent firms at different levels of the supply chain join together through contracts to reduce conflict
corporate vertical marketing system
parent company has complete control and can dictate the priorities and objectives of supply chain
cross-dock
distribution center to which vendors ship merchandise prepacked and ready for sale
cycle time
time between decision to place an order and the receipt of merchandise
dispatcher
person who coordinates deliveries to distribution centers
distribution center
facility for the receipt, storage, and redistribution of goods to company stores or customers
electronic data interchange
computer-to computer exchange of business documents from retailer to vendor and back
expertise power
type of marketing channel power where channel member exerting power has expertise that other channel members want
floor-ready merchandise
merchandise that is ready to be placed on the selling floor
franchising
agreement between franchiser and franchisee that allows the name to be used that was developed by franchisor
horizontal channel conflict
channel conflict between two competing retailers or manufacturers
independent supply chain
several independently owned and operated supply chain members
information power
occurs when channel member exerting power has info others want
just-in-time inventory power
deliver less merchandise on a more frequent basis than traditional inventory systems
lead time
amount of time between recognition that an order needs to be placed and the arrival
legitimate power
channel member has power and can tell other members what to do
logistic management
integration of two or more activities for the purpose of planning
marketing channel
set of institutions that transfer the ownership of and move goods from the point of production to point of consumption
power
such as if a retailer has power or control over a supplier
Pull supply chain
orders for merchandise are generated at the store level on basis of demand data captured by point of sales terminals
push supply chain
merchandise is allocated to stores on the basis of historical demand, stores needs, and inventory position
receiving
The process of recording the receipt of merchandise as it arrives at a distribution center or store.
referent power
one channel member wants to be associated with another channel member
reward power
channel member with power offers rewards to gain power
strategic relatioship
members committed to maintaining long term, investing in opportunities that are mutually beneficial
suppl chain management
Refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless value chain in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, as well as to minimize systemwide costs while satisfying the service levels their customers require.
ticketing and marketing
Creating price and identification labels and placing them on the merchandise.
universal product code
The black-and-white bar code found on most merchandise
vendor managed inventory
manufacturer is responsible for maintaining the retailer’s inventory levels in each of its stores.
vertical channel conflict
members of same marketing channel in disagreement
vertical marketing system
A supply chain in which the members act as a unified system; there are three types: administrated, contractual, and corporate.
wholesaler
firms engaged in buying, taking title to, often storing, and physically handling goods in large quantities, then reselling the goods to retailers