Question 1

Describe the pros and cons to a retailer's using an outside,regularly used supplier as a merchandise source?

Accepted Answer

There are several pros and cons to a ret...

Question 2

a.Explain the differences between RFID and UPC.
b.Why have retailers been slow to adopt RFID?

Accepted Answer

a. RFID (Radio Frequency Identification)...

Question 3

A retailer can shift labeling and handling functions to a manufacturer through the use of ________.

Accepted Answer

A)   private labels
B)   floor-ready merchandise
C)   quick response (QR)  inventory planning
D)   Universal Product CodesE) B) and C)
F) All of the above

Question 4

The merchandise flow from the retailer back through the supply chain is termed ________.

Accepted Answer

A)   reverse logistics
B)   inbound logistics
C)   third-party logistics
D)   supply chain managementE) All of the above
F) C) and D)

Question 5

Opportunistic buying is common among off-price retailers.

Accepted Answer

A) True 
 B)False

Question 6

Quick response (QR)inventory planning is generally used in conjunction with electronic data interchange.

Accepted Answer

A) True 
 B)False

Question 7

The use of advanced ship notices is an important aspect of ________.

Accepted Answer

A)   efficient consumer response (ECR) 
B)   third party logistics
C)   floor-ready merchandise
D)   economic order quantity computationE) A) and D)
F) A) and B)

Question 8

Develop a 10-item store security checklist aimed at reducing customer theft.

Accepted Answer

1. Install security cameras in all areas...

Question 9

An important source of information about consumer demand is the want book or want slip.

Accepted Answer

A) True 
 B)False

Question 10

Opportunistic buying is most frequently used by ________.

Accepted Answer

A)   specialty stores
B)   department stores
C)   membership clubs and off-price chains
D)   category killersE) All of the above
F) C) and D)

Question 11

Differentiate among efficient consumer response; collaborative planning,forecasting,and replenishment (CPFR); and vendor managed inventory (VMI).

Accepted Answer

Efficient Consumer Response (ECR) is a s...

Question 12

An unsatisfactory evaluation may cause a retailer to reject an entire shipment.The retailer is using which form of merchandise evaluation?

Accepted Answer

A)   sampling
B)   inspection
C)   description
D)   statistical evaluationE) B) and C)
F) C) and D)

Question 13

A retailer can eliminate use of its own warehouses through ________.

Accepted Answer

A)   ordering goods in large quantities
B)   use of direct store delivery (DS
D)  
C)   use of electronic data interchange (EDI)  with key vendors
D)   taking advantage of opportunities for quantity discountsE) B) and C)
F) A) and B)

Question 14

A retailer not indicating markdowns could cause inventory shrinkage numbers to increase.

Accepted Answer

A) True 
 B)False

Question 15

Electronic article surveillance seeks to directly reduce inventory shrinkage by ________.

Accepted Answer

A)   using cameras to monitor dressing room activity
B)   reducing theft on specific items that have been targeted by management
C)   setting up strict rules on the number of goods that can be tried on in dressing rooms at one time
D)   chaining expensive clothes together to reduce theftE) A) and B)
F) A) and C)

Question 16

A retailer's risk is minimized in a consignment purchase.

Accepted Answer

A) True 
 B)False

Question 17

A retailer can most effectively reduce its inventory risk through ________.

Accepted Answer

A)   memorandum purchases
B)   consignment purchases
C)   floor-ready merchandise
D)   private label purchasesE) C) and D)
F) None of the above

Question 18

The basic difference between consignment and memorandum purchases is based on the size of the order.

Accepted Answer

A) True 
 B)False

Question 19

Which inventory management system in retailing corresponds to a just-in-time inventory management system?

Accepted Answer

A)   computer-based UPC scanning
B)   quick response (QR)  inventory planning
C)   automatic reordering
D)   economic order quantityE) B) and D)
F) All of the above

Question 20

A new or special order usually results in a ________.

Accepted Answer

A)   negotiated contract
B)   uniform contract
C)   new task purchase
D)   consignment saleE) C) and D)
F) All of the above

Exam 15: Implementing Merchandise Plans

A retailer not indicating markdowns could cause inventory shrinkage numbers to increase.

Correct AnswerverifiedShow Answer

Differentiate among efficient consumer response; collaborative planning,forecasting,and replenishment (CPFR); and vendor managed inventory (VMI).

Correct AnswerAnswered by ExamLex AIEfficient Consumer Response (ECR) is a s...View AnswerShow Answer

Describe the pros and cons to a retailer's using an outside,regularly used supplier as a merchandise source?

Correct AnswerAnswered by ExamLex AIThere are several pros and cons to a ret...View AnswerShow Answer

A retailer can most effectively reduce its inventory risk through ________.

Correct AnswerverifiedShow Answer

Quick response (QR)inventory planning is generally used in conjunction with electronic data interchange.

Correct AnswerverifiedShow Answer

Electronic article surveillance seeks to directly reduce inventory shrinkage by ________.

Correct AnswerverifiedShow Answer

The use of advanced ship notices is an important aspect of ________.

Correct AnswerverifiedShow Answer

A retailer can eliminate use of its own warehouses through ________.

Correct AnswerverifiedShow Answer

Opportunistic buying is common among off-price retailers.

Correct AnswerverifiedShow Answer

A retailer can shift labeling and handling functions to a manufacturer through the use of ________.

Correct AnswerverifiedShow Answer

Which inventory management system in retailing corresponds to a just-in-time inventory management system?

Correct AnswerverifiedShow Answer

An important source of information about consumer demand is the want book or want slip.

Correct AnswerverifiedShow Answer

The basic difference between consignment and memorandum purchases is based on the size of the order.

Correct AnswerverifiedShow Answer

Opportunistic buying is most frequently used by ________.

Correct AnswerverifiedShow Answer

a.Explain the differences between RFID and UPC. b.Why have retailers been slow to adopt RFID?

Correct AnswerAnswered by ExamLex AIa. RFID (Radio Frequency Identification)...View AnswerShow Answer

A new or special order usually results in a ________.

Correct AnswerverifiedShow Answer

An unsatisfactory evaluation may cause a retailer to reject an entire shipment.The retailer is using which form of merchandise evaluation?

Correct AnswerverifiedShow Answer

Develop a 10-item store security checklist aimed at reducing customer theft.

Correct AnswerAnswered by ExamLex AI1. Install security cameras in all areas...View AnswerShow Answer

The merchandise flow from the retailer back through the supply chain is termed ________.

Correct AnswerverifiedShow Answer

A retailer's risk is minimized in a consignment purchase.

Correct AnswerverifiedShow Answer

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Answered by ExamLex AI
Efficient Consumer Response (ECR) is a s...
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There are several pros and cons to a ret...
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Answered by ExamLex AI
a. RFID (Radio Frequency Identification)...
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Answered by ExamLex AI
1. Install security cameras in all areas...
View Answer

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