Retail Fundamentals Review

What kinds of things does a manufacturer produce?

• Finished Products

• Services

• Raw Materials

Julia is stocking shampoo on the sales floor and finds a bottle that is leaking. She throws it out and continues to stock on move on with her day. Which of the following would then be true?

• The inventory system's numbers will be accurate.

• The number of shampoo bottles in the inventory system would be too high.

• The inventory would need to be counted manually.

Which term best describes hearing and understanding what a speaker is saying out loud and any message suggested behind the words?

• Patient listening

• Active listening

• Passive listening

What does the "R" in SMART Goal Setting stand for?

• Retail-Orientated

• Results-Oriented

• Restart

________is the process of matching the invoiced quantity to actual products delivered.

• Point of Sale

• Receiving

• Shrinkage

On hand inventory is the number of units of a specific item that are available to_______.

• Receive

• Sell

• Markdown

A large facility that manufacturers send large quantities of product to then distributed to stores.

• Garage

• Storage Warehouse

• Distribution Center

The process of automatic or manual ordering to meet product demands is called____.

• Inventory Replenishment

• RFID

• Excess Inventory

Other than in the stockroom, where is a store's inventory kept?

• At the distribution center

• On the sales floor

• At the manufacturer

 These devices are used primarily to prevent the theft of high priced items, particularly small ones.

• Display or fixture locks

• Non electronic ink tags

• Electronic tags