Fashion Merchandising 2.01 & 2.02

The difference between book-inventory and physical-inventory due to counting or recording errors, or resulting from pilferage, spoilage, theft, or wastage is:

• Physical inventory
• Shrinkage
• Vendor-managed inventory
• Periodic inventory 

Nike wants their clothing to be more affordable and available to their customers. What would be their best distribution strategy?

• Intensive
• Exclusive
• Selective
• Direct

Makes a finished good from raw materials and other components; also known as producer:

• Retailer
• Wholesaler
• Agent
• Manufacturer

Aldos’ shoes may be found in only a few stores in addition to their online e-tailing store. What would be their best distribution strategy?

• Intensive
• Exclusive
• Selective
• Direct

Which source is responsible for the highest percentage of inventory shrinkage?

• Administrative error
• Shoplifting
• Vendor fraud
• Employee theft
  
  

A person or firm who resells goods to retailers is a:     

• Retailer
• Wholesaler
• Agent
• Manufacturer

Tiffany’s jewelry may only be found in its stores. What would be their best distribution strategy?

• Intensive
• Exclusive
• Selective
• Direct

A manual or automated inventory accounting system where inventory is accounted for in a real-time basis is known as:

• Vendor-managed inventory
• Periodic inventory
• Perpetual inventory
• Inventory control 

You have been invited to a Tupperware party! This exchange of fabulous new Tupperware to individual consumers and hopefully you in return for money is known as:

• Indirect selling
• Direct selling
• Comparison shopping
• Complementary products
  
  

The activity of purchasing only one category classification of merchandise, often done by chain store buyers is:

• Classification buying
• Departmental buying
• Specification buying
• Individual buying