RMG 301 Lecture 1: RMG 301 Chapter 1

• School: Ryerson University
• Department: Retail Management
• Course: RMG 301
• Professor: Norman Shaw

Document Summary

Forecasting: predict the future demand for raw material, finished goods, and services: supply chain management: manage the flow of materials, information, people and money from suppliers to customers. Facility and layout design: determine the best configuration of machines, store, offices, and departments to provide the highest levels of efficiency and customer to satisfaction. Durable good: is one that does not quickly wear out and typically lasts at least three years. Non-durable good: is one that is no longer useful once its used or lasts for less than three years. Service management: integrates marketing, human resources, and operations functions to plan, create, and deliver goods and services, and their associated service encounters. A customer benefit package: is clearly defined set of tangible and intangible features the customer recognizes, pays for, uses or experiences. Primary good or service: is the core offering that attracts customers and responds to their basic needs.