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Inventory management systems that are designed to make the process of reordering and receiving products as simple as possible are referred to as __________.


A) efficient consumer response systems
B) order replenishment systems
C) customer logistics factors
D) minimum-inventory systems
E) web-based response systems

F) A) and E)
G) A) and C)

Correct Answer

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Disintermediation refers to channel conflict that arises when


A) a channel member severs relationships with other channel members to work for or with a competing manufacturer.
B) channel conflicts are resolved by a third party.
C) a channel member bypasses another member and sells or buys products direct.
D) channel conflicts are resolved through a binding arbitration from a panel of representatives from all channel members involved.
E) the entire distribution chain is eliminated,such as when a company sets up its own wholesaler and retailer network.

F) B) and E)
G) A) and E)

Correct Answer

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Figure 12-9 -Figure 12-9 above indicates that supply chain managers must balance total logistics cost factors against customer service factors.The six total logistics cost factors ( A, B, C, D, E, and F ) include all of the following <u>EXCEPT</u>: A) order processing. B) materials handling and warehousing. C) time. D) inventory. E) transportation. Figure 12-9 -Figure 12-9 above indicates that supply chain managers must balance total logistics cost factors against customer service factors.The six total logistics cost factors ("A," "B," "C," "D," "E," and "F") include all of the following EXCEPT:


A) order processing.
B) materials handling and warehousing.
C) time.
D) inventory.
E) transportation.

F) A) and E)
G) B) and D)

Correct Answer

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Industrial distributors perform functions that are most like which intermediary in the consumer products marketing channel?


A) manufacturers
B) retailers
C) agents
D) wholesalers
E) brokers

F) A) and E)
G) A) and D)

Correct Answer

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The lag from ordering an item until it is received and ready for use or sale is referred to as


A) order cycle time.
B) order handling time.
C) order-to-ship duration.
D) purchase cycle.
E) logistics cycle.

F) D) and E)
G) A) and B)

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In logistics,a two-way link between buyer and seller that helps in monitoring service and anticipating future needs is referred to as


A) inventory management.
B) dependability.
C) communication.
D) reverse logistics.
E) accountability.

F) A) and B)
G) B) and D)

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The word flow as it relates to the definition of logistics management refers to decisions needed to move


A) raw materials to the producer.
B) semi-finished materials to a merchant wholesaler.
C) finished products to the distributor.
D) finished products directly from the producer to the retailer.
E) a product from the source of raw materials to consumption.

F) A) and D)
G) B) and E)

Correct Answer

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An industrial distributor refers to


A) an intermediary that performs a variety of marketing channel functions involving selling,stocking,delivering a full product assortment,and financing.
B) an intermediary that maintains its own salesforce and performs all channel functions.
C) an intermediary that deals exclusively with the selling,stocking,and delivery of raw materials used by manufacturers in the production of its products.
D) an intermediary that deals with a single product line within a single industry.
E) an intermediary that performs functions involving selling,stocking,and delivery of industrial goods but is unable to provide financing due to the normally large expenditures.

F) None of the above
G) All of the above

Correct Answer

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Figure 12-4 -Figure 12-4 above depicts the four most common marketing channels for business products and services.Channel D would be an appropriate marketing channel for __________. A) Cray supercomputers B) Harkman electrical products C) Boeing aircraft D) Caterpillar tractors E) Fastenal industrial fasteners Figure 12-4 -Figure 12-4 above depicts the four most common marketing channels for business products and services.Channel "D" would be an appropriate marketing channel for __________.


A) Cray supercomputers
B) Harkman electrical products
C) Boeing aircraft
D) Caterpillar tractors
E) Fastenal industrial fasteners

F) C) and E)
G) A) and B)

Correct Answer

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A __________ can be compared to a pipeline through which water flows-making possible the flow of products from a producer,through intermediaries,to a buyer.


A) chain of command
B) marketing hierarchy
C) marketing agent
D) marketing channel
E) marketing middleman

F) None of the above
G) B) and D)

Correct Answer

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Hart Schaffner & Marx is a producer of fine men's suits and sports coats that operates 100 menswear stores.Hart Schaffner & Marx uses __________.


A) dual distribution
B) backward integration
C) forward integration
D) horizontal integration
E) strategic channel alliances

F) C) and D)
G) A) and D)

Correct Answer

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The importance of time,dependability,communication,and convenience are all important concepts of __________,within the context of the supply chain.


A) customer service
B) supplier service
C) wholesaler service
D) retailer service
E) stakeholder service

F) A) and C)
G) A) and E)

Correct Answer

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Jaffar (Jeff) Tabrizi is the owner and president of Tabrizi Oriental Rugs located in Toronto,Canada.He personally shops the world over,handpicks and orders authentic and beautiful handmade rugs,which he has shipped to Canada,where he sells them through his brick-and-mortar stores and through his www.tabrizi.com website.In terms of the marketing channel,Jeff is acting as a(n) __________.


A) consumer
B) agent
C) wholesaler
D) brokerage firm
E) middleman

F) A) and D)
G) None of the above

Correct Answer

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An efficient consumer response system refers to


A) an order replenishment system that maintains a 10 percent inventory rate at all times in order to guarantee there will never be stockouts.
B) an online virtual inventory storage program that allows firms to enter in minute-by-minute information in order to avoid stockouts due to unforeseen environmental forces.
C) a computer program that allows even the smallest manufacturer to manage its inventory system.
D) an inventory management system that is designed to make the process of reordering and receiving products as simple as possible.
E) an exclusive contractual agreement between delivery services such as FedEx or UPS to deliver expedited orders at a special low rate,regardless of the day and time.

F) A) and E)
G) A) and D)

Correct Answer

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Supply chain management refers to


A) the integration and organization of information and logistic activities across firms for the purpose of creating and delivering goods and services that provide value to ultimate consumers.
B) organizing the cost-effective flow of raw materials,in-process inventory,finished goods,and related information from point-of-origin to point-of-consumption to satisfy customer requirements.
C) the integration and organization of information and logistical activities that actively bring consumers together with sellers through the express use of agents and brokers.
D) an inventory management system that is designed to reduce the retailer's lead time for receiving merchandise,which then lowers a retailer's inventory investment,improves customer service levels,and reduces logistic expenses.
E) a highly organized system that facilitates minute-to-minute communication between all members of a supply chain and ensures the producer is aware of any changes in delivery or demand for a product or service.

F) A) and D)
G) A) and C)

Correct Answer

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Which of the following statements regarding corporate vertical marketing systems is most accurate?


A) Corporate vertical marketing systems can use either forward integration or backward integration but not both.
B) Corporate vertical marketing systems increase distribution costs.
C) Corporate vertical marketing systems increase investment but decrease fixed costs.
D) Corporate vertical marketing systems are only effective with low-end consumer products.
E) Corporate vertical marketing systems offer more control over supply sources or resale of products.

F) A) and C)
G) D) and E)

Correct Answer

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There are three variations of contractual systems: wholesaler-sponsored voluntary chains,franchising,and __________.


A) service-oriented voluntary chains
B) channel-dominated voluntary chains
C) distributorship cooperatives
D) retailer-sponsored cooperatives
E) reseller franchising

F) A) and B)
G) A) and C)

Correct Answer

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Walmart made a conscious decision to use a(n) __________ supply chain in order to best meet the needs of its consumers.


A) integrated
B) responsive
C) harmonized
D) efficient
E) multi-tiered

F) A) and E)
G) A) and B)

Correct Answer

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_________ exists when a franchisor licenses individuals or firms to dispense a service under a trade name and specific guidelines.


A) service-sponsored retail franchise system
B) manufacturer-sponsored wholesale franchise system
C) manufacturer-sponsored retail franchise system
D) administered vertical marketing system
E) service-sponsored franchise system

F) A) and B)
G) A) and C)

Correct Answer

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IBM has adopted a(n) __________ supply chain strategy to better serve its customers.


A) efficient
B) responsive
C) harmonized
D) integrated
E) multi-tiered

F) All of the above
G) D) and E)

Correct Answer

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