Quiz 13 mktg

Supply chains and supply Chain Management?

Many modern companies are turning to supply chain management for competitive advantage.

Omni channel versus Multichannel marketing?

Marketing channels are valuable they provide a route for products and services to reach the customer.

Factors Affecting Channel Choice? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Marketing managers must answer many questions before choosing a marketing channel. A book manufacturer must decide, for example, what roles physical and electronic distribution will play in the overall marketing strategy and how these two paths will fare against each other. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

gray marketing channels?

May be used to sell stolen or counterfeit products, which could detract from the profitability of the primary and secondary channels controlled by the business. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

The use of nontraditional channels? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

May help differentiate a firm's product from the competition by providing additional information about products. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Supply chain integration?

Occurs when multiple firms or their functional areas in a supply chain coordinate business processes so they are seamlessly linked to one another.

Outsourcing, contract logistics, third-party logistics company (3PL)?

Outsourcing, or contract logistics, is a rapidly growing in initiative in which a manufacturer or supplier turns over an entire logistical function (often buying and managing transportation, warehousing, and/or postponed manufacturing) to an independent third-party logistics company (3PL) that helps manage warehouse space, provides transportation solutions, assists with information sharing, or provides enhanced technological innovations.

Outsorcing?

Outsourcing: enables companies to cut inventories, and locate stock at fewer plants and distribution centers, while still providing the same level of service (or sometimes, performing even better).

The customer service management process?

Presents a multi company, unified. Response system to the customer whenever complaints, concerns, questions, or comments are voiced.

Intensive distribution?

" is a form of distribution aimed at maximum market coverage. Here, the manufacturer tries to have the product available in every outlet where potential customers might want to buy it. " Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Timing Factors?

"A final consideration driving channel choice is the elapsed time between the introduction of a product into one channel and the secondary introduction of the same or a very similar product into another channel. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Supply chain integration?

"A key principle of supply chain management is that multiple entities (firms and/or their functional areas) should work together to perform tasks as a single, unified system, rather than as multiple individual units acting in isolation." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Channel structures?

"A product can take any of several possible routes to reach the final consumer. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Product Factors?

"Complex, customized, and expensive products tend to benefit from shorter and more direct marketing channels. These types of products sell better through a direct sales force. Examples include pharmaceuticals, scientific instruments, airplanes, and mainframe computer systems. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"sales and operations planning (S&OP)?

"During these meetings, the demand-generating functions of the business (marketing and sales) work together with the production side of the business (procurement, production, and logistics) in a collaborative arrangement designed to both satisfy customers and minimize waste." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Digitalized Supply chain Processes?

"In addition to digitalized demand sensing and decision making, other applications and tools are useful for executing supply process tasks. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Emerging Distribution Structures?

"In recent years, rapid changes in technology and communication have led to the emergence of new, experimental distribution methods and channel structures. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"Sustainable Supply Chain Management" Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"In response to the need for firms to both reduce costs and act as leaders in protecting the natural environment, many are adopting sustainable supply chain management principles as a key part of their supply chain strategy." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Functions and Activities of Channel Intermediaries? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"Intermediaries in a channel negotiate with one another, facilitate transfer of ownership for finished goods between buyers and sellers, and physically move products from the producer toward the final consumer." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Advanced robotics?

"Many tasks that are done repetitively and require significant precision can be accomplished more cheaply and accurately via advanced robotics. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"Levels of Distribution Intensity? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"Organizations have three options for intensity of distribution: intensive, selective, and exclusive." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Benefits of Effective Supply Chain Management

"SCM is a key means of differentiation for a company, and therefore represents a critical component in marketing and corporate strategy.

"The Digitalization of the Supply Chain" Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"Several technological advances and business trends are affecting the job of the supply chain manager today." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Digitalized Demand Sensing and Decision Making? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"The first frontier on which the digital supply chain is impacting business pertains to the heightened ability to acquire and process data to support decision making." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

supply chain orientation?

"This means they implement management practices that are consistent with a "systems thinking" approach. Leading supply chain-oriented firms like Amazon, McDonald's, and "Unilever possess five characteristics that, in combination, set them apart from their competitors: 1. They are credible. They have the capability to deliver on the promises they make. 2. They are benevolent. They are willing to accept short-term risks on behalf of others, are committed to others, and invest in others' success. 3. They are cooperative. They work with rather than against their partners when seeking to achieve goals. 4. They have the support of top managers. These managers possess the vision required to do things that benefit the entire supply chain in the short run so they can enjoy greater company successes in the long run. 5. They are effective at conducting and directing supply chain activity. As a result, they are better off in the long run financially than those who are not as effective.

Demand- supply integration (DSI)?

"Under the DSI philosophy, the functional areas in a company charged with creating customer demand (such as marketing, sales, or research and development) communicate frequently and are synchronized with the parts of the business charged with fulfilling the created demand (purchasing, manufacturing, and logistics).

"The Key Processes of Supply Chain Management?

"When firms practice good supply chain management, their functional departments or areas, such as marketing, research and development, and/or production, are integrated both within and across the linked firms." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Customer Service Management?

"While the CRM process is designed to identify and build relationships with good customers, the customer service management process is designed to ensure that those customer relationships remain strong." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Business processes?

"are composed of bundles of interconnected activities that stretch across firms in the supply chain. " Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

cloud computing?

"as a means to collaborate on big data projects and analyze findings in a quick and cost-effective manner. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"The product development and commercialization process" Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"discussed in detail in Chapter 11) includes the group of activities that facilitate the joint development and marketing of new offerings among a group of supply chain partner firms. In many cases, more than one supply chain entity is responsible for ensuring the success of a new product." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

reverse channels?

"enable consumers to return products to the retailer or manufacturer in the event of a product defect or at the end of the product's useful life to the consumer.

"The returns management process" Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"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. " Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Digital Distribution?

"includes any kind of product or service that can be distributed electronically, whether over traditional forms such as fiber-optic cable or through satellite transmission of electronic signals. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"Sustainable supply chain management" Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"involves the integration and balancing of environmental, social, and economic thinking into all phases of the supply chain management process." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Customer integration?

"is a competency that enables firms to offer long-lasting, distinctive, value-added offerings to the customers who represent the greatest value to the firm or supply chain." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"The order fulfillment process?

"is a highly integrated one, often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time" Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Machine learning?

"is a subset of artificial intelligence that reverses the traditional AI processing method. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

selective distribution?

"is achieved by screening dealers and retailers to eliminate all but a few in any single area." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"The supplier relationship management process" Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"is closely related to the manufacturing flow management process and contains several characteristics that parallel the customer relationship management process. The manufacturing flow management process is highly dependent on supplier relationships for flexibility. " Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Relationship integration?

"is the ability of two or more companies to develop social connections that serve to guide their interactions when working together." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"Technology and planning integration?

"refers to the creation and maintenance of information technology systems that connect managers across the firms in the supply chain. It requires information hardware and software systems that can exchange information when needed between customers, suppliers, and internal operational areas of each of the supply chain partners." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Digitalization?

"refers to the use of digital technologies to change ways of doing business, and to provide new revenue and value-producing opportunities. " Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Measurement integration?

"reflects the idea that performance assessments should be transparent and measurable across the borders of different firms; it should also assess the performance of the supply chain as a whole while holding each individual firm or business unit accountable for meeting its own goals." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"Material and service supplier integration?

"requires firms to link seamlessly to those outsiders that provide goods and services to them so that they can streamline work processes and thereby provide smooth, high-quality customer experiences. Both sides need to have a common vision of the total value-creation process and be willing to share the responsibility for satisfying customer requirements to make supplier integration successful." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"The demand management process?

"seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating customer-focused plans of action prior to actual purchases being made. At the same time, demand management seeks to minimize the costs of serving multiple types of customers who have variable wants and needs." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

modular?

"such that a cockpit instrument panel or software platform can be used in (for instance) both the 737 airliner and the KC-46 tanker." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

blockchain?

"that has not only transformed traceability from a pipedream to a reality, but has also ensured that any transactions between supply chain partners are impartially recorded and therefore beyond dispute. A blockchain is a digital ledger of transactions that can be accessed by all parties in real time; it allows products or components to be traced from origin to final destination including all stops in between. " Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

form utility?

"when they transform oats grown on a distant farm into the Cheerios that we like to eat for breakfast. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

greenwashing?

"whereby they use marketing techniques to portray that their operations are environmentally or socially friendly, when in reality they are not. However, emerging research has begun to conclusively demonstrate that positive long-term financial returns accrue as a result of environmentally and socially sustainable practices if firms are willing to commit sufficient resources to the sustainability effort. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

triple bottom line?

"which includes measures of economic success, environmental impact, and social well-being. The general logic is companies that fail to balance these performance objectives appropriately are susceptible to risks that, in the long-term, can endanger the continuity of the business. " Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

RFID?

(Radio-frequency identification) and smart tags to keep track of inventory locations and restocking needs in real time.

Marketing Channels and Channel Intermediaries? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

A marketing channel can be viewed as a canal or pipeline through which products, their ownership, communication, financing and payment, and accompanying risk flow to the consumer. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

How Marketing Channels Work? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

According to the concepts of specialization and division of labor, breaking down a complex task into smaller, simpler ones and assigning these tasks to specialists create greater efficiency and lower average production costs via economies of scale. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Who are the potential customers? "What do they buy? Where do they buy? When do they buy? How do they buy?

Additionally, the choice of channel depends on whether the producer is selling to consumers directly or through other industrial buyers because of differences in the buying routines of these groups.

Channel members?

Also called intermediaries, resellers, and middlemen) negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving finished goods from the manufacturer into the hands of the final consumer. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Market Factors?

Among the most important market factors affecting distribution channel choices are market considerations. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Automated vehicles and drones?

Are in use for the purpose of making complicated or costly deliveries of goods or information easier.

Digital channels?

Are pathways for moving products and information toward customers so they can be sent and/or received with electronic devices, such as computers, smartphones, tablets, or video game consoles. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Retailers?

Are the firms in the channel whose primary function is to sell directly to consumers. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"Channels for Business and Industrial Products? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

As Exhibit 13.3 illustrates, five channel structures are common in business and industrial markets. First, direct channels are typical in business and industrial markets. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"dual or multiple distribution? " Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Dual or multiple distribution systems differ from single channel systems, and managers should recognize the differences. Multiple distribution channels must be organized and managed as a group, and managers must orchestrate their use in synchronization if whole system is to work well. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Agents and brokers?

Facilitate the sales of products downstream by representing the interests of retailers, wholesalers, and manufacturers to potential customers. Unlike merchant wholesalers, agents or brokers only facilitate sales and generally have little input into the terms of the sale. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

big data?

Has presented both great opportunities and significant problems for supply chain manager.

Digitalizing Supply Chain Integrity? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

In closing our discussion of supply chain digitalization, it is worth noting that as supply chains globalize, they get longer and more complex, often stretching around the world and including dozens of suppliers, intermediate customers, and service providers. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

exchange utility?

In doing so.

A company's supply chain?

Includes all of the companies involved in the upstream and downstream flow of products, services, finances, and information, extending from initial suppliers (the point of origin )to the ultimate customer (the point of consumption).

"Channel Functions Performed by Intermediaries? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Intermediaries in marketing channels perform three essential functions that enable goods to flow between producer and consumer. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

The manufacturing flow management process?

Is 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.

Drop and shop?

Programs to get consumers to recycle products like batteries or cell phones during a regular trip to the store.

Alternative Channel Arrangements?

Rarely does a producer use just one type of channel to move its product. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Producer Factors?

Several factors pertaining to the producer itself are important to the selection of a marketing channel.

supply chain analytics?

Supply chain analytics programs that can interpret big data have great potential for improving supply chain operations. For example, the use of bigger (and better) data should allow supply chain forecasting to become more accurate; shipments to be rerouted in the event of traffic or bad weather; and warehouses to be stocked with exactly the products customers want (and none they don't want). " Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

strategic channel alliances

That enable them to use another manufacturer's already-established channel. Alliances are used most often when the creation of marketing channel relationships may be too expensive and time consuming. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Supply chain agility?

The reversal of the flow of demand from push to pull has resulted in a radical reformulation of traditional marketing, production, and distribution functions toward a philosophy of supply chain agility.

order cycle time?

The time between order and customer receipt—as much as possible, while ensuring that the customer receives exactly what he or she wants.

Direct channel?

To sell directly to consumers in order to keep purchase prices low.

M-commerce?

Whereby a mobile device is used to assess, compare, and/or buy products. For example, suppose you need a ride from one point in Chicago to another. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Digital Channels?

With technology changing rapidly, many companies are turning to digital channels to facilitate product distribution. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

Merchant wholesalers

are organizations that facilitate the movement of products and services from the manufacturer to producers, resellers, governments, institutions, and retailers. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"The customer relationship management (CRM) process?

enables companies to prioritize their marketing focus on different customer groups according to each group's long-term value to the company or supply chain." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"three-dimensional printing (3DP)" Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

have been successful in industries such as auto parts, biomedical, and even fast food. Using 3DP technology, objects are built to precise specifications using raw materials at or near the location where they will be consumed. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

"marketing channel (also called a channel of distribution) Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

is a business structure of interdependent organizations that reaches from the point of production to the consumer and facilitates the downstream physical movement of goods through the supply chain. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

The goal of supply chain management (SCM)?

is to coordinate and integrate all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, ultimately giving supply chain managers "total visibility and control" of the materials, processes, money, and finished products both inside and outside the company they work for.

Artificial intelligence (AI)?

refers to the field of computer science that creates machines capable of solving problems more quickly and accurately than humans can. Traditionally, AI applications work by analyzing a set of inputs and coming up with the correct output more reliably than humans can. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

supply chain traceability?

the ability to map the paths of raw materials, component parts, subassemblies, and finished goods throughout the global network—has become a primary challenge for many businesses. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

(Reshoring), or close to (nearshoring)?

their primary base of operations, in order to reduce supply chain risk and maintain tighter control over operations. This is not to say, however, that supply chains are becoming more domestic.

Internet of Things (IoT)? Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

which enables physical objects to relay chunks of information about themselves and their surroundings to people or computers over the Internet in real time, without over human interaction. Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.

exclusive distribution?

which entails only one or a few dealers within a given area. Because buyers may have to search or travel extensively to buy the product, exclusive distribution is usually confined to consumer specialty goods, a few shopping goods, and major industrial equipment." Excerpt From MKTG Charles W. Lamb This material may be protected by copyright.