Class 3 Flashcards
1
Q
A process is…?
A
Repeatable
Measurable
Trainable
2
Q
Goldilocks theory of inventory management?
A
Stock just the right amount of inventory
3
Q
——— helps decision makers make better informed decisions?
A
Analytics
4
Q
We increase profit by either?
A
Selling more or selling more efficiently - reduce costs.
5
Q
Remember in wholesale distribution?
A
Everyone doesn’t pay the same price for a product.
6
Q
3 types of costs?
A
Replacement cost
Martlet cost
Weighted average cost
7
Q
Selling an item?
A
Sell the requested item
Offer substitute
Offer up selling items
8
Q
4 groups to consider when making decisions because they always get a vote?
A
Customers
Competition
Distributors stock/share holders
Vendors
9
Q
5 S’s of distribution?
A
Source
Stock
Store
Sell
Ship
