Inventory systems & cost
What is shrinkage Costs ?
Loss of inventory due to theft or error
What is the definition for common ?
Trucking Company that provides transportation services to any business in their operating area for a fee.
What does it mean to sort and move products?
Know what the main purpose of a distribution center
What is goods and services sold through intermediaries ?
Indirect distribution
Advantages: low cost, rarely slowed by weather
Railroad/Train
What is Storage Costs ?
The amount of money spent on renting or buying the space needed to store the inventory
What are the 3 steps of the stock handling process ?
1.receiving goods
2.checking them
3.marking them
What is Intensive ?
Uses all suitable outlets to sell a product
What is channel of distribution?
Path a product takes from producer or manufacturer to final user.
what is the most used transportation
Advantage - door-to-door
what is an inventory system in which stock is visually inspected or actually counted to determine the quantity on hand ?
ex-(Having employees count stock)
Physical Inventory
what is the definition for private ?
Companies that own and operate their own transportation equipment transport their goods using
What is the term for a manufacturer who uses only a limited number of outlets to sell products in a geographic area ?
Selective
What provides exposure for small businesses that they could not get elsewhere ?
E-marketplace
Cargo/Marine Shipping
Advantages: low cost
Waterway
What is Perpetual Inventory ?
An inventory system that tracks the number of items in inventory on a constant basis; tracks sales and other transactions as they occur.
BONUS QUESTION!!!
What is he process of buying and storing merchandise while controlling the costs related to storage, ordering, and taxes ?
Inventory Management-
What is Exclusive ?
Occurs when products are supplied to only one dealer within a certain geographic area
What is direct distribution ?
Goods or services sold by the producer directly to the final user
used when delivery is urgent
Advantage- fastest
What is an A system that controls and coordinates the flow of parts and materials into assembly and manufacturing plants so that suppliers deliver parts and raw materials just before they are needed for use ?
Just-in-time inventory
what is the definition Contract ?
A for-hire trucking company that provides equipment and drivers for specific routes, per agreements between the carrier and the shipper
What is the term for process of buying and storing merchandise while controlling the costs related to storage, ordering, and taxes ?
Inventory Management
What is the minimum number of pounds needed to fill a boxcar ?
Car load
-transporting waters, liquids, and gases
Advantages: good safety record
Pipeline