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35 Cards in this Set

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4 main areas of the supply chain

Manufacturing, Wholesaler, Distributer, Retailer

What is the main job of a wholesaler? example?

buys in bulk from manufacturers for resale to retailers or other traders


ex. Old Navy

What is "Warehousing" and why is it necessary?

Storage & protection of raw materials AND finished goods in a dedicated building or room.

What was interesting about Amazons warehousing strategy?

Everything was not put in a specific place, rather the computer did the work

Example of a company that would use a Manufacturer to Consumer strategy:

Butcher

Example of a company that would use a Manufacturer to Wholesaler to Consumer strategy:

Costco

Example of a company that would use a Manufacturer to Wholesaler to Retailer to Consumer strategy:

Old Navy

Example of a company that would use a Manufacturer to Retailer to Consumer strategy:

Bakery (Farmers Market)

Difference between Direct channel and indirect channel of distribution:

a Direct channel does not use wholesalers or retailers while indirect channels do.

Difference between Consumer Markets and Organizational Markets:

A consumer marker goes from producer to consumer while organizational markets go from business to business

What do trading companies do?

represent specific products in world markets and work with established consumers to assist producers with selling to buyers

2 advantages of a company using global intermediaries:

1) don't have to worry about shipment & logistics


2) less risk

2 disadvantages of a company using global intermediaries:

1) Loss of full control


2) It's an expense

Custom Brokers specialize in what?

In moving products through customs process

Freight Forwarders specialize in what?

Help transfer a physical product to it's final destination by combining small shipments providing low price

TRUCK


2 advantages:


2 disadvantages:

Advantages:


1) Flexibility


2) Speed


Disadvantages:


1) More expensive than rail


2) not suitable for all types of cargo

RAIL


2 advantages:


2 disadvantages:

Advantages:


1) Hauls bulk materials


2) Tends to perform better on long hauls


Disadvantages:


1) Slower than trucks


2) Less flexible routes & schedules compared to trucks

SEA


2 advantages:


2 disadvantages:

Advantages:


1) Cheapest


2) Fullservice (directly to customer)


Disadvantages:


1) Slowest


2) Environmental risk

AIR


2 advantages:


2 disadvantages:

Advantages:


1) Fastest


2) Reliable & Safe


Disadvantages:


1) Restricted to smaller loads


2) Most expensive

Definition of Ethics:

Principles of right and wrong by which people conduct themselves personally, socially and professionally

Who determines ethical standards:

1) Government


2) Society


3) Authority

if a company has good ethical behaviour it will:

-Establish trust


-Foster positive public image

if a company performs unethically it will:

-Lead to organizational dysfunction


-create public outrage


-create personal and moral dilemma

ethical issues international businesses should be aware of:

Discrimination


Unfair pay


working conditions


human rights issues


environmental issues

3 questions to ask of you are wondering if a decision is ethical or not?

1) is it LEGAL?


2) is it BALANCED?


3) is it RIGHT?

Rationalization:

a technique used to justify poor and unethical decisions

What is a Whistleblower:

A person who exposes the misdeeds of others

2 consequences of being a whistleblower:

1) difficult to maintain relationships


2) Legal consequences

Corporate social responsibility:

the duty to do what is best for the company

Three levels of Corporate Responsibility:

1) Obligation


2) Responsiveness


3) Responsibility

What is a Code of Ethics:

Statement exampling what a company or group believes is proper and improper which applies to individuals employees and the whole company

What is a Stakeholder:

Various individuals or groups of people who have direct interest, involvement or investment in an organization

Not Business as Usual


What is a B-Corporation?

Benefit Corporation

Not Business as Usual


According to Milton Friedman, to whom to businesses have a duty towards? what is the problem with his mindset?

Only have a duty to their own share holders, he says they do not have a duty to society.

Not Business as Usual


What is good for _________ is also good for _______

1) Society


2) Business