Retail Fundamentals Part 1

Fill in the blank with the information from the slides.

• retail distribution process

• supply chain management

• inventory control system

• logistics planning

Match the following economic contributions with their effects on the economy.

• Environmental impact

• jobs

• Creation of employment opportunities

• pollution

• Congestion on roads

• traffic

• Increase in prices

• inflation

(a)   in retail involves creating net positive environmental, social, and community benefits.

• Sustainability
• Profit Maximization
• Cost Cutting
• Inventory Management

The retail ________________________ cycle includes product selection, allocation, and distribution.

• product

• marketing

• financial

• logistics

(a)   is all about getting the right products and services in the right place at the right time for customers to purchase.

• Logistics
• Marketing
• Finance
• Production

________________________ are types of merchandise and services that are organized together into groups.

• Categories

• Items

• Brands

• Products

A dedicated person or team who is familiar with all of a category’s products, ____________, vendors and industry ________ generally manages that category.

• manager, trends

• leader, patterns

• supervisor, changes

• coordinator, shifts

________________________ is the term for distributing merchandise from the manufacturer to a retailer’s locations, which may include stores, distribution centers or other locations.

• Distribution

• Manufacturing

• Retailing

• Warehousing

The ____________________ the retailer, the more complex the allocation process becomes.

• larger

• smaller

• newer

• older

________________ are reductions in the original selling price to encourage rapid sales.

• Discounts

• Surcharges

• Taxes

• Fees