Strategies to track consumer purchases

Strategies to track consumer purchases

1) A retailer can most effectively track consumer purchases through ________.

2) A want book or want slip is used to record ________.

3) Customer requests for unstocked or out-of-stock merchandise are recorded in a(n) ________.

4) Which of the following is not a merchandise source?

5) A deduction from a bill made by a retailer due to such infractions as late shipping or improper labeling is called a ________.

6) A purchaser of fine antiques is most likely to evaluate merchandise through ________.

7) An example of items which should be evaluated by a retailer by inspection are ________.

8) Description buying is most appropriate for ________.

9) A new or special order usually results in a ________.

10) A regular order is characterized by ________.

11) Opportunistic buying is most commonly utilized by ________.

12) An advantage to a retailer’s placing large orders for merchandise is ________.

13) The retailer does not pay for items until they are sold and can return merchandise ________.

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

15) A logistics system can best be defined as the ________.

16) Unlike other methods of inventory management, logistics ________.

17) The logistics aspect of a value delivery chain is ________.

18) A broad-based approach to supply chain management among a network of trading partners is ________.

19) A retailer reduces the amount of inventory it keeps on hand by ordering more frequently and in lower quantity through ________.

20) A disadvantage to the use of frequent ordering in small quantities is the ________.

21) A quick response (QR) inventory planning system is most effective when used in conjunction with ________.

22) The use of such strategies as quick response inventory planning, electronic data interchange, and logistics planning in an integrated manner by supermarkets is referred to as ________.

23) Which one of the following activities by suppliers is not associated with a floor-ready merchandise strategy?

24) A paperless, computer-to-computer relationship between retailers and vendors is ________.

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

26) Direct store distribution works best with ________.

27) Which of the following is an advantage of central warehousing for a chain retailer?

28) About what dollar amount in U.S. retail sales is lost each year due to inventory shrinkage (employee theft, customer shoplifting, vendor theft, and administrative errors)?

29) According to a major study of inventory shrinkage, ________.

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

31) A retailer found that a small percent of goods represented a large proportion of the store’s total shrinkage. Which of the following strategies would be most effective?

32) In a civil restitution law, ________.

33) An effective store security program needs to be operational ________.

34) Which theft deterrent strategy can have a major negative impact on employee morale?

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

36) A major disadvantage with a want book system used to gather information about consumer demand is that ________.

37) A major problem associated with the use of want books (want slips) is that they ________.

38) Which source of merchandise utilizes vertical integration by a retailer?

39) A retailer and a supplier both utilize relationship marketing. Which merchandise source do they best illustrate?

40) A retailer reduces its invoice by 5 percent since a supplier shipped seasonal merchandise 10 days late. The price reduction is designed to compensate the retailer for additional markdowns. This reduction illustrates a ________.

41) Excessive use of chargebacks by a retailer illustrates ________.

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

43) Description buying is most frequently used for ________.

44) Opportunistic buying is most frequently used by ________.

45) The purchase of out-of-season goods, manufacturer overruns, or cancelled orders by a closeout retailer illustrates ________.

46) A slotting allowance is a form of ________.

47) A manufacturer with low channel power may be able to get retailers to stock his or her goods through a ________.

48) Both consignment purchases and memorandum purchases enable a retailer to ________.

49) The major difference between a consignment purchase and a memorandum purchase is based on ________.

50) The major difference between an inventory management system and a logistics system is that the ________.

51) A disadvantage to the use of infrequent ordering in large quantities is ________.