Chapter 13

Question 1

The connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function

Answer 1

Supply Chain

Question 2

A management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption resulting in enhanced customer and economic value

Answer 2

Supply chain management

Question 3

An operational strategy focused on creating inventory velocity and operational flexibility simultaneously in the supply chain

Answer 3

supply chain agility

Question 4

A manufacturer’s or supplier’s use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing

Answer 4

outsourcing

Question 5

A firm that provides functional logistics services to others

Answer 5

Third-party logistics company (3PL)

Question 6

The reinstitutionalization of a business process from an outsource location/country back to the original location to gain economic

Answer 6

reshoring

Question 7

The transfer of an outsourced activity from a distant to a nearby country

Answer 7

nearshoring

Question 8

Radio-frequency indentification; a device that uses radio waves as a means of locating a piece of inventory within a confined geographic space

Answer 8

RFID

Question 9

Which of the following terms is defined as an operational strategy focused on creating inventory velocity and operational flexibility simultaneously in the supply chain?

A. supply chain agility
B. Supply chain management
C. Third-party logistics
D. Outsourcing

Answer 9

A. supply chain agility

Question 10

A system of management practices that are consistent with a “system thinking” approach

Answer 10

supply chain orientation

Question 11

When multiple firms or business functions in a supply chain coordinate that activities and processes so that they are seamlessly linked to one another to satisfy the customer

Answer 11

Supply chain integration

Question 12

A supply chain operational philosophy focused on integrating the supply-management and demand-generating functions of an organization

Answer 12

demand-supply integration (DSI)

Question 13

Bundles of interconnected activities that stretch across firms in the supply chain

Answer 13

business processes

Question 14

Allows companies to prioritize their marketing focus on different customer groups according to each group’s long-term value to the company or supply chain

Answer 14

customer relationship management (CRM) process

Question 15

Presents a multicompany unified response system to the customer whenever complaints, concerns, questions, or comments are voiced

Answer 15

customer service management process

Question 16

seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action prior to actual customer purchases

Answer 16

demand management process

Question 17

A method companies use to align production with demand by merging tactical and strategic planning methods across functional areas of the business

Answer 17

sales and operations planning (S&OP)

Question 18

A highly integrated process, often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time

Answer 18

order fulfillment process

Question 19

The time delay between the placement of a customer’s order and the customer’s receipt of that order

Answer 19

order cycle time

Question 20

Process concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multistage production process

Answer 20

manufacturing flow management process

Question 21

A standardized form of component parts manufacturing designed so the parts are easily replaced or interchanged

Answer 21

modular

Question 22

supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers

Answer 22

supplier relationship management process

Question 23

Enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain

Answer 23

returns management process

Question 24

A supply chain management philosophy that embraces the need for optimizing social and environmental costs in addition to financial costs

Answer 24

sustainable supply chain management

Question 25

The financial, social, and environmental effects of a firm's policies and actions that determine its viability as a sustainable organization

Answer 25

triple bottom line

Question 26

When a firm publicly feigns support for environmental or social sustainability but fails to live up to these standards in practice

Answer 26

greenwashing

Question 27

The use of digital technologies to change a business model and provide new revenue or value

Answer 27

digitalization

Question 28

A system of interrelated computing devices, mechanical and digital machines, objects, animals, or people that are connected and able to transfer data over a network without overt human effort

Answer 28

internet of things (IoT)

Question 29

The rapidly collected and difficult-to-process large-scale data sets that have recently emerged and push the limits of current analytical capability

Answer 29

big data

Question 30

Data analyses that support the improved design and management of the supply chian

Answer 30

supply chain analytics

Question 31

The computer science area focused on making machines that can simulate human intelligence processes

Answer 31

Artificial intelligence (AI)

Question 32

An application of artificial intelligence that provides systems the ability to automatically lean and improve from experience without being explicitly programmed

Answer 32

machine learning (ML)

Question 33

The practice of using remote network servers to store, manage, and process data

Answer 33

cloud computing

Question 34

Devices that act largely or partially autonomously, that interact physically with people or their environment, and that are capable of modifying their behavior based on sensor data

Answer 34

advanced robotics

Question 35

Includes any kind of product or service that can be distributed electronically, whether over traditional forms such as fiberoptic cable or through satellite transmission of electronic signals

Answer 35

digital distribution

Question 36

The degree to which a business can track a product's development through stages beginning with a raw material state and ending with delivery to the final consumer

Answer 36

supply chain traceability

Question 37

A digital ledger in which transactions are made and recorded chronologically and publicly

Answer 37

blockchain

Question 38

A set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer

Answer 38

Marketing channel

Question 39

All parties in the marketing channel who negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer

Answer 39

channel members

Question 40

The elements of the composition and appearance of a product that make it desirable

Answer 40

form utility

Question 41

The increase in customer satisfaction gained by making a good or service available at the appropriate time

Answer 41

time utility

Question 42

The usefulness of a good or service as a function of the location at which it is made available

Answer 42

place utility

Question 43

The increased value of a product that is created as its ownership is transferred

Answer 43

exchange utility

Question 44

An institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them

Answer 44

merchant wholesalers

Question 45

Wholesaling intermediaries who do not take title to a product, but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers

Answer 45

agents and brokers

Question 46

A channel intermediary that sells mainly to consumers

Answer 46

retailers

Question 47

A distribution channel in which producers sell directly to consumers

Answer 47

direct channel

Question 48

Producer to consumer

Answer 48

direct channel

Question 49

Producer to retailer to consumer

Answer 49

retailer channel

Question 50

producer to wholesalers o retailers to consumers

Answer 50

wholesaler channel

Question 51

Producer to agents to wholesalers to retailers to consumers

Answer 51

agent/broker channel

Question 52

Producer to industrial distributer to industrial users

Answer 52

industrial distributor

Question 53

Producer to agents to industrial distributors to industrial users

Answer 53

agent/broker-industrial distributor

Question 54

The use of two or more channels to distribute the same product to target markets

Answer 54

dual or multiple distribution

Question 55

Nonphysical channels that facilitate the unique market access of products and services

Answer 55

nontraditional channels

Question 56

A cooperative agreement between business firms to use the other’s already established distribution channel

Answer 56

strategic channel alliance

Question 57

Secondary channels that are unintended to be used by the producer, and which often flow illegally obtained or counterfeit product toward customers

Answer 57

gray marketing channels

Question 58

Channels that enable customers to return products or components for reuse or remanufacturing

Answer 58

reverse channels

Question 59

A system used by several retailers that allows customers to bring used products for return or donation at the entrance of the store

Answer 59

drop and shop

Question 60

Electronic pathways that allow products and related information to flow from producer to consumer

Answer 60

digital channels

Question 61

The ability to conduct commerce using a mobile device to buy or sell goods or services

Answer 61

M-commerce

Question 62

A form of distribution aimed at having a product available in every outlet where target customers might want to buy it

Answer 62

intensive distribution

Question 63

A form of distribution achieved by screening dealers to eliminate all but a few in a single area

Answer 63

selective distribution

Question 64

Distribution to only one or a few dealers within a given area

Answer 64

exclusive distribution

Question 65

Because of varying preferences through different stages of the shopping cycle, many companies have begun to employ a ___ _____ _____, whereby customers are offered information, goods, services, and/or support through one or more synchronized channels.

Answer 65

multichannel marketing strategy

Question 66

Because of varying preferences through different stages of the shopping cycle, many companies have begun to employ a multichannel marketing strategy, whereby customers are offered information, goods, services, and/or support through one or more ___ ___.

Answer 66

synchronized channels

Question 67

Many companies are transitioning to an ____ ____ operation that supports their multichannel retail operations and unifies their retail interfaces so that all customers receive equal and efficient service.

Answer 67

omnichannel distribution

Question 68

Many companies are transitioning to an omnichannel distribution operation that supports their multichannel retail operations and ____ ___ ____ ____ so that all customers receive equal and efficient service.

Answer 68

unifies their retail interfaces