Mar-3023 Lecture Notes - Lecture 12: Costco, Froot Loops, Multichannel Marketing
Document Summary
Supply chain management: strategies that ensure products are produced and distributed to the right customers, in the right quantities, to the right locations, and at the time customers need them. Distribution channel the people and firms that direct the flow of goods from m-c within the. Logistics involves the movement and storage of products from m-c. Operations management involves transforming raw materials into. Producer wholesalers retailers consumers. Producer agents/brokers wholesalers retailers consumers. Time utility: having products available when the customer wants them. Place utility: making products available in locations where customers want to buy them. Form utility: gives the product to customers in the quantity and package that best suits their needs. Stock-outs: occurs 7%-10% of the time in grocery stores, worldwide, implications: 21% - 43% of consumers will make the purchase at another store. 25% will not buy the product at all, or will delay the purchase. The rest will substitute, usually with a cheaper alternative.
