supply chain quiz

Question 1

supply chain

Answer 1

the network of organizations, activities, and technologies involved in creating product and delivering it to the customer

Question 2

nature of supply chains

Answer 2

vary in size and structure, but all have the same goal of customer satisfaction

Question 2

manufacturers

Answer 2

businesses that take goods or materials from suppliers and create a finished product

Question 3

suppliers

Answer 3

businesses from which other businesses buy goods or materials

Question 4

capital goods

Answer 4

products that aid in the production process

Question 5

supply chain management (SCM)

Answer 5

process of overseeing the flow of products, information, and finances

Question 5

distributors

Answer 5

• responsible for storing, locating, transferring, and selling
  -intermediary between the customer and manufacturer

Question 6

five crucial tasks of SCM

Answer 6

1. planning
2. sourcing
3. making
4. delivering
5. returning

Question 7

channel of distribution

Answer 7

the path a product takes from its producer or manufacture to its final user

Question 8

intermediaries

Answer 8

middle man business involved in sales transactions that move products from the manufacturer to the final user

Question 9

two types of intermediaries

Answer 9

merchants- take title of goods or services

agents- receive commission

Question 10

wholesaler (distributor)

Answer 10

businesses that obtain goods from manufacturers and resells them to organizational users, other wholesalers, or retailers

Question 11

rack jobber

Answer 11

manages inventory and merchandising for retailers by counting stock, filling the shelves, and maintaining store displays

Question 12

drop shipper

Answer 12

owns the goods they sell, but does not physically handle the actual product

Question 13

retailers

Answer 13

a business that buys goods from wholesalers or directly from manufacturers and resells them to consumers

Question 13

brick-and-mortar

Answer 13

a traditional retailer who sells goods to customers in a physical store

Question 14

non-store retailing (E-tailers)

Answer 14

E-tailing (online, Amazon), direct mail, catalog, tv home shipping, automatic (vending machine)

Question 15

direct distribution

Answer 15

producers sell goods or services directly to the customer with no intermediaries

Question 16

agents

Answer 16

an intermediary by bringing buyers and sellers together

Question 17

independent manufacturing Representative

Answer 17

works with related, but not competing manufactures in a select industry

Question 18

broker

Answer 18

brings buyers and sellers together

Question 19

indirect distribution

Answer 19

involved one or more intermediaries.