Retail Supply Chain Management

1 . An appropriate strategy to achieve timely, accurate, paperless information flow is: a. b. c. d. e. revision of orga...

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1 . An appropriate strategy to achieve timely, accurate, paperless information flow is: a. b. c. d. e.

revision of organisation processes supported by information systems efficient store assortments efficient replacement integrate this activity is integrated into all supply chain planning none of the above

2 . An appropriate strategy to maximise efficiency of promotions is: a. b. c. d. e.

integrate this activity is integrated into all supply chain planning efficient replacement efficient store assortments revision of organisation processes supported by information systems none of the above

3 . An appropriate strategy to optimise for time and cost in the ordering process is: a. b. c. d. e.

integrate this activity is integrated into all supply chain planning efficient store assortments revision of organisation processes supported by information systems efficient replacement none of the above

4 . An appropriate strategy to optimise the productivity of retail space and inventory is: a. b. c. d. e.

efficient replacement efficient store assortments revision of organisation processes supported by information systems integrate this activity is integrated into all supply chain planning none of the above

5 . The upstream supply chain is: a. b. c. d.

exclusively inside an organisation involved with procurement of material from suppliers the distribution of products or delivery of services to customers both the first and third answer above

e. none of the above

6 . The downstream supply chain is: a. b. c. d. e.

exclusively inside an organisation involved with procurement of material from suppliers the distribution of products or delivery of services to customers both the first and third answer above none of the above

7 . The correct sequence of an organisation’s supply chain from a systems perspective is: a. b. c. d. e.

transformation process, acquisition of resources, delivery to customers transformation process, delivery to customers, acquisition of resources acquisition of resources, transformation process, delivery to customers delivery to customers, acquisition of resources, transformation process none of the above

8 . ______ offers the opportunity to buy direct from the supplier with reduced costs and shorter cycle a. b. c. d. e.

Reintermediation Disintermediation Countermediation Contramediation None of the above

9 . IS can be used to reduce cycle time by: a. b. c. d. e.

reduced cost through outsourcing increased efficiency of individual processes improved data integration between elements of the supply chain reduced complexity of the supply chain none of the above

10 . The typical aim of the push approach to supply chain management is: a. to reduce costs of distribution

b. c. d. e.

to enhance product and service quality to reduce costs of new product development both the first and third answer above none of the above

Ans. 1 to 10 1. b 2. c 3. a 4. c 5. b 6. c 7. b 8. b 9. a 10. d

11 . Inventory exists in three aggregate categories, which are useful for accounting purposes. They include: a. b. c. d.

Raw materials Work-in-process Finished goods All of the above

12 . Finished goods (FG) in manufacturing plants, warehouses, and retail outlets are: a. b. c. d.

inventories needed for the production of goods or services items sold to the firm's customers Both a and b None of the above

13 . An internal materials management structure includes the integration of what internal departments into an internal supply chain? a. b. c. d.

purchasing distribution a and b above None of the above

14 . Backward integration is the achieved through _____________________. a. b. c. d.

the disregard of customer demand a coalition of the firm's suppliers the purchase of a controlling interest in the firm's supplier None of the above

15. Supplier control options include: a. b. c. d.

backward integration written agreements with first-tier suppliers a and b above none of the above

16. Under a competitive orientation to supplier relations, the relationship does not include which of the following? a. b. c. d.

value short-term gain one's gain is the other's loss long-term commitments none of the above

17. Under a cooperative orientation to supplier relations, the relationship between buyer and seller includes which of the following? [Hint] a. b. c. d.

value long-term commitments a partnership buyer support of vendor development all of the above

18. A firm database showed that the average value of all inventory items for the year was $765,000. The cost of goods sold was reported at $7,650,000. Since the company closes for 2 weeks each year, its business year is reduced in length. How many weeks of supply were held in inventory? a. b. c. d.

0.2 5.0 10.0 none of the above

19. A firm database showed that the average value of all inventory items for the year was $765,000. The cost of goods sold was reported at $7,650,000. Since the company closes for 2 weeks each year, its business year is reduced in length. What was the inventory turnover? a. b. c. d.

0.2 5.0 10.0 none of the above

20. Design features for efficient supply chains include: a. b. c. d.

frequent new-product introduction predictable demand customization all of the above

21. Design features for responsive supply chains include: a. b. c. d.

high capacity cushion emphasize fast delivery time customized products or services all of the above

22. Traditionally, organizations have divided the responsibility for managing the flow of materials and services among which three departments? [Hint] a. purchasing, production, distribution b. purchasing, accounting, marketing

c. marketing, production, finance d. none of the above

23. Which functions are not part of Distribution? a. b. c. d.

finished goods inventories flow from firm to customer transportation of products raw materials inventories

24. Purchasing is the management of the acquisition process, which includes: [Hint] a. b. c. d.

deciding which suppliers to use negotiating contracts deciding whether to buy locally all of the above

25. A firm has the least amount of control over external causes of supply-chain dynamics. External causes include: a. b. c. d. Ans. 11 to 25 11. d 12. b 13. c 14. c 15. c 16. c 17. d 18. b

product promotions engineering changes to the product unexpected changes in customer demand all of the above

19. c 20. b

Question 26 The internationalization of a retail concept may occur: a) without an international organization directly transferring a concept through a physical presence in a market b) only when an international organization directly transfers a concept through a physical presence in a market. c) when an international organization directly transfers a concept through a physical presence or agent in a market. d) when an international organization directly transfers a concept through export activity.

Question 27 Which of the following is correct? International retailing is the meeting of consumers' needs in international markets by: a) domestic retailers adopting a concept. b) export agents in international markets. c) international retail organizations. d) wholesalers in international markets.

Question 28 International activity is: a) servicing customers in nondomestic markets. b) resource-seeking in international markets. c) foreign sourcing and importing. d) servicing customers' need for international merchandise.

Question 29 International retailing is: a) the export of retail concepts to markets that are different from each other in their regulation, economic development, social conditions, cultural environment, and retail structures. b) the management of retail operations in markets that are different from each other in their regulation, economic development, social conditions, cultural environment, and retail structures. c) the introduction of retail operational formats in markets that are different from each other in their regulation, economic development, social conditions, cultural environment, and retail structures. d) the management of wholesale operations in markets that are different from each other in their regulation, economic development, social conditions, cultural environment, and retail structures.

Question 30 The internationalization of retailing is: a) only the transfer of retail management technology that bring to a retail organization a level of international integration that establishes the retailer within the international environment in such a way as to transcend regulatory, economic, social, cultural, and retail structural boundaries. b) the transfer of retail management technology or the establishment of international trading relationships that bring to a retail organization a level of international integration that establishes the retailer within the international environment in such a way as to transcend regulatory, economic, social, cultural, and retail structural boundaries. c) only the establishment of international trading relationships that bring to a retail organization a level of international integration that establishes the retailer within the international environment in such a way as to transcend regulatory, economic, social, cultural, and retail structural boundaries. d) neither the transfer of retail management technology or the establishment of international trading relationships that bring to a retail organization a level of international integration that establishes the retailer within the international environment in such a way as to transcend regulatory, economic, social, cultural, and retail structural boundaries.

Ans. 21 to 30 21. d

22. a 23. d 24. d 25. c 26. a 27. c 28. a 29. b 30. b

Question 31 David Ricardo recognized that there were advantages in specialization: a) only when absolute advantage did not exist. b) when comparative advantage did not exist. c) only when comparative advantage did not exist. d) even when absolute advantage did not exist.

Question 32 Which of the following is correct? Linder (1961) identified a fundamental difference in the trade of: a) Primary and service sector products b) Retail and manufactured products c) Primary and manufactured products d) Primary and retail products

Question 33

Vernon (1966) identified the importance of: a) the market of origin in determining the characteristics of the product. b) the market of destination in determining the characteristics of the product. c) the host market in determining the characteristics of the product. d) the global marketplace in determining the characteristics of the product.

Question 34 The eclectic paradigm proposes that international production is contingent on three sets of advantages: a) Marketing Advantages, Management Advantages, and Internalization Advantages b) Ownership Advantages, Locational Advantages, and Internalization Advantages c) Ownership Advantages, Locational Advantages, and Internationalization Advantages d) Retailing Advantages, Locational Advantages, and Internalization Advantages

Question 35 The stages theory of the firm is sometimes known as: a) The Linder Model b) The Uppsala Model c) The New York Model d) The Dunning Model

Question 36 How many categories of international retailers did Hollander (1970) suggest? a) Four b) Five c) Six

d) Seven

Question 37 Treadgold observed (1988) that: a) high cost entry strategies allow retailers to retain high control over their non-domestic operation while low cost entry strategies will demand the loss of some control. b) low cost entry strategies allow retailers to retain high control over their non-domestic operation while high cost entry strategies will demand the loss of some control. c) high cost entry strategies allow retailers to retain a medium level of control over their non-domestic operation while low cost entry strategies will demand the loss of all control. d) high cost entry strategies allow retailers to retain low control over their non-domestic operation while low cost entry strategies will allow the retention of high control.

Question 38 What were the three fundamental strategies identified by Salmon and Tordjman (1989)? a) Global, multinational, and transnational b) Global, multinational, and investment c) Global, proximate, and multinational d) Acquired, global and multinational

Question 39 Simpson and Thorpe's (1995) PLIN model referred to four factors. What were they? a) Product, Lifestyle, Image, and Niche b) Product, Language, Internationalization, and Niche c) Product, Language, Internalization, and Niche d) Product, Language, Image, and Niche

Question 40 What are the five factors identified by Vida, Reardon, and Fairhurst (2000) that they suggest act as determinants of international retail involvement? a) Competitive advantages, international knowledge, experience in the domestic market, management attitudes, retailer size b) Competitive advantages, internal knowledge, international experience, management attitudes, retailer size c) Competitive advantages, international knowledge, international experience, marketing attitudes, retailer size d) Competitive advantages, international knowledge, international experience, management attitudes, retailer size

Ans. 31 to 40 31. d 32. c 33. a 34. b 35. b 36. b 37. a 38. b 39. a 40. d

Question 41 The Q ratio shows the relationship between capitalization and asset value. Therefore, if a company scores above one or, to express it another way, parity, it has managed to:

a) generate intangible value such as brand value, which means the retailer is worth, or capitalization is considered to be, more than its simple stock of tangible assets. b) generate tangible value such as brand value, which means the retailer is worth, or capitalization is considered to be, more than its simple stock of tangible assets. c) generate intangible value which means that the retailer is worth more than the stock of its intangible assets. d) generate intangible value which means that the retailer is worth less than the stock of its intangible assets.

Question 42 Toys R Us and Ikea are examples of which of the following? a) Department store b) Variety store c) Category killer d) Supermarket

Question 43 Walmart operates four formats. These are: a) Walmart discount stores, Walmart department stores, Walmart neighbourhood markets and Sam's Club b) Walmart variety stores, Walmart supercentres, Walmart neighbourhood markets and Sam's Club c) Walmart discount stores, Walmart supercentres, Walmart neighbourhood markets and Sam's Club d) Walmart discount stores, Walmart supercentres, Walmart neighbourhood markets and Tom's Club

Question 44 International food retailing is essentially a phenomenon that has emerged from: a) The US market

b) European markets c) South America d) Asia

Question 45 As we move in to the future, big box retailers will be better placed to compete in: a) emerging markets and depend on their brand strength as they compete head on with other retailers in their shared retail environment. b) more developed markets and depend on their brand strength as they compete head on with other retailers in their shared retail environment. c) emerging markets and depend on distribution efficiencies and location to ensure primary market impact. d) only developed markets and depend on their brand strength as they compete head on with other retailers in their shared retail environment.

Question 46 When retailers move into neighbouring markets it is described as: a) Border removing b) Border leaping c) Border straddling d) Border hopping

Question 47 Burt (1993) suggested that cultural proximity: a) discouraged expansion from one market to another. b) encouraged expansion from one market to another. c) was only relevant at later stages in a company's international development.

d) was unimportant.

Question 48 Economically, market attraction occurs where: a) either by a relatively high level of development or by a relatively low level of growth when measured against the domestic market. b) only by a relatively high level of development when measured against the domestic market. c) only by a relatively low level of growth when measured against the domestic market. d) Only where a market has a relatively high level of development and a relatively high level of growth when measured against the domestic market.

Question 49 Thinking about retail structure, which would you expect? a) Retailers from both countries to be as successful as each other. b) Canadian retailers to me more successful than US retailers when moving across the Canadian/US border. c) US retailers to me less successful than Canadian retailers when moving across the Canadian/US border. d) Canadian retailers to me less successful than US retailers when moving across the Canadian/US border.

Question 50 Where a number of markets exchange retail operations and a single market does not dominate the internationalisation process, the outcome is called: a) Bilateral integration b) Unbalanced integration c) Multifaceted integration d) Multilateral integration

Ans. 41 to 50 41. a 42. c 43. c 44. b 45. c 46. d 47. b 48. a 49. d 50. d

Question 51 The global political structure may be considered on how many levels a) Two b) Three c) Four d) Five

Question 52 Recent research by Myers and Alexander (2007) has suggested that the emergence of a European retail structure is based around which EU markets? a) France and Germany b) France and Italy

c) Germany and Italy d) The Netherlands and the UK

Question 53 NAFTA stands for: a) North American Free Trade Area b) North American Free Tariff Area c) North American Free Trade Association d) New American Free Trade Area

Question 54 On the basis of current population projections, if international retailers were to limit themselves to those markets that they primarily targeted in the fifty years 1950-2000, in the following fifty years 200050; would they be serving? a) A moderately increasing proportion of the world population b) Roughly the same proportion of the world population c) A declining proportion of the world population d) A rapidly expanding proportion of the world population

Question 55 Which of these statements is correct? a) In markets where there is a high GDP per capita figure, service industries make a far less significant contribution to GDP calculations than in markets with a low GDP per capita figure. b) In markets where there is a low GDP per capita figure, service industries make a far more significant contribution to GDP calculations than in markets with a high GDP per capita figure. c) In markets where there is a high GDP per capita figure, service industries make a far more significant contribution to GDP calculations than in markets with a low GDP per capita figure.

d) In markets where there is a high GDP per capita figure, service industries tend to make either a high of low contribution to GDP calculations depending on the geographical size of the market.

Question 56 Which of the following does modern retailing support? a) A rural environment b) An urbanized environment c) Markets with low levels of urbanization d) Neither urban or rural

Question 57 In developed markets you would expect to find: a) the population under 15 years representing a large percentage of those aged 60 years or over. b) the population under 15 years representing a small percentage of those aged 60 years or over. c) the population under 15 years representing the same percentage of those aged 60 years or over. d) the population under 15 years representing a very large percentage of those aged 60 years or over.

Question 58 Compared with markets in Southern Europe, household sizes in markets in North West Europe are? a) Small and the number of rooms per person is higher b) Large and the number of rooms per person is higher c) Large and the number of rooms per person is lower d) Small and the number of rooms per person is lower

Question 59 According to Hofstede (1983) culture is:

a) 'that part of our conditioning that we share with other members of our nation with members of groups like ours in other nations.' b) 'that part of our conditioning that we share with other members of our nation, region, or group and with members of other nations, regions, or groups.' c) 'that part of our conditioning that we share with other members of our group but not with members of other groups.' d) 'that part of our conditioning that we share with other members of our nation, region, or group but not with members of other nations, regions, or groups.'

Question 60 What were the four general approaches to social interaction that emerged from Hofstede's research? a) Village market, family, social circle and well-oiled machine b) Village community, family, pyramid and well-oiled machine c) Village market, family, pyramid and well-oiled machine d) Village market, family, pyramid and dysfunctional machine

Ans 51 to 60 51. b 52. a 53. a 54. c 55. c 56. b 57. b 58. a 59. d

60. c

Question 61 Which of these statements is correct? a) A high number of inhabitants per retail outlet suggests a market with a undeveloped retail structure. b) A low number of inhabitants per retail outlet suggests a market with a developed retail structure. c) A high number of inhabitants per retail outlet suggests a market with a developed retail structure. d) A high number of inhabitants per retail outlet suggests a market with a retail structure that lacks modern retail operations.

Question 62 Concentration calculations measure: a) the number of outlets one retailer has in a market. b) the number of retail businesses in a market. c) the share of a market held by one retailer or a group of retail enterprises. d) the number of consumers per retail outlet.

Question 63 Which of these statements is correct? a) As enterprise density decreases, so the ratio of non-food to food retail outlets rises. b) As enterprise density increases, so the ratio of non-food to food retail outlets rises. c) As enterprise density decreases, so the ratio of non-food to food retail outlets decreases. d) As enterprise density increases, so the ratio of non-food to food retail outlets decreases.

Question 64 Which of these statements is correct?

a) Innovation will tend to flow to markets that are more advanced than the market that provides the innovation. b) Innovation will tend to flow to markets that are less advanced than the market that provides the innovation. c) Innovation will tend to originate in markets that are less advanced markets. d) Innovation will tend to originate in markets that are heavily regulated.

Question 65 Emerging markets today are attractive to large retail enterprises from highly developed markets because: a) they provide risk free investment opportunities. b) they provide new sources of innovative retailing practices. c) they promise opportunities for international retailers' to experiment with new retail formats before transferring the concept to the domestic market. d) they promise to sustain the international retailers' levels and rate of growth.

Question 66 Which of these strategic options describes retailers' usual route to international expansion? a) The business maintains its present product lines and expand into new markets in which it is not currently operating. b) The business penetrates the market in which it already operates to a great extent. c) The business expands into new product areas in the same market in which it already operates. d) The business expands into new product areas and expands into new markets in which it is not currently operating.

Question 67 What is retail saturation?

a) Saturation is when a retailer reaches a point of national development where further growth will provide only limited benefits. At this stage, the geographical market will be covered and market share will be relatively high compared with other operators. b) Saturation is when a retailer reaches a point of national development where considerable growth opportunities still exist. At this stage, the geographical market will not be covered and market share will be relatively low compared with other operators.

c) Saturation is when a retailer reaches a point of development where considerable growth opportunities still exist; although, market share will be relatively high compared with other operators. d) Saturation is when a retailer is the largest retailer in the domestic market.

Question 68 Which of these factors would you describe as a push factor? a) Low operating costs in international markets b) Good economic conditions in the domestic market c) Good economic conditions in international markets d) Restrictive regulatory environment in the domestic market

Question 69 Which of these factors would you describe as a pull factor? a) Hostile competitive environment in the domestic market b) Depressed share prices in international markets c) High concentration levels in the domestic market d) Saturation in the domestic market

Question 70 Alexander (1995) suggests that retailers at the moment of internationalisation occupy one of four positions. Which of the four lists is correct?

a) Autochthonic, pulled, pushed, expansive b) Domestic, reactive, proactive, expansive c) Automatic, reactive, proactive, proximate d) Autochthonic, reactive, proactive, expansive

Ans. 61 to 70 61. c 62. c 63. a 64. b 65. d 66. a 67. a 68. d 69. b 70. d

Question 71 There should be two stages in the market selection process: a) Market scanning and market entry b) Market research and market entry c) Market scanning and market research d) Market entry and market selection

Question 72 When researching a new market, qualitative research is useful to the retailer because: a) it provides powerful commentaries and insights into the way consumers in a market think about certain issues. b) it provides large samples relatively easily. c) it is descriptive and easily measured and compared. d) it provides small samples that are measured quantitatively.

Question 73 When researching a new market, quantitative research is useful to the retailer because: a) it provides consumer insights generated through focus groups and in-depth interviews. b) it provides large samples relatively cheaply. It is descriptive and it is easily measured and compared. c) it provides small samples very cheaply. d) it provides small samples that are very expensive to analyze when compared with qualitative research.

Question 74 Recently Alexander, Rhodes, and Myers (2007) have shown that: a) the idea that retailers rely on a scientific approach to market selection, needs to be tempered by an understanding of the 'non-systematic criteria' of market selection, primarily the personal beliefs, experiences, or network groups that may influence market selection. b) retailers rely purely on scientific criteria when selecting international markets. c) retailers rely entirely on 'non-systematic criteria' such as personal beliefs, experiences and network groups when selecting international markets, ignoring the scientific approach completely. d) retailers only rely purely on scientific criteria when selecting international markets in the home global region.

Question 75

Scanning, an initial stage in the process of market assessment should: a) be used to exclude markets and not to choose markets. b) be used to choose markets only. c) never be used to exclude markets. d) be used to choose markets in some cases.

Ans. 71 to 75 71. c 72. a 73. b 74. a 75. a