RTM

RTM

1. Structure and psychology

   • SKU: stock keeping unit
   • Middling: middle price is preferred over extremes
   • Service output demands: expectations shoppers have from retailers
   • retail concentration: extent to which a small number of large retailers dominate

2. Global Supply chain

   • postponement: delaying final product steps until demand is known
   • JIT: making or delivering products only when needed
   • flexbility: ability to quickly make more or less of a product
   • time to market
   • time to serve
   • time to react
   • cross-docking- moving good through warehouse without storing them
   • reefer: container fridge
   • EDI: electronic data interchange
   • Quick response: supplying products based on real demand
   • ECR: efficient consumer response: retailers and suppliers working efficiently to restock quickly and cheaply
   • agility able to adapt to change
   • leagile: combination
   • transaction costs: cost when opertating across borders

3. Ethics and sustainablility

   • third party eccreditation: certification from independent body
   • second party accreditation: certification by a party with vested interest
   • dillution of standrards: when certification schemes lower their requirement to include more businesses
   • concerned markets: influenced by social ethical or environmental concerns
   • Heating the market: creating awareness and concern to push changes
   • agencement: a collective of actors working together to shape markets
   • circular economy: economic model focused on reusing and reducing waste
   • Linear economy: traditional model of producing using and discarding products
   • reverse logistics: the process of moving products backwards in the supply chain for recycling
   • :collaborative consumption: practice of swapping or renting products rather than owning them
   • sharing economy: a system where people share access to goods or services

4. customer marketing

   • omnichannel: intergrated marketing approach providing a seamless customer epxericne across multiple channels
   • shopper vs consumer: shopper is the buyer
   • shopper insights: data and understanding of shopper behaviour
   • category captain:a main brand supplier who helps a store manage a product group
   • merchandising fees: money paid by brands to stores for shelf space or promotion
   • slotting allowance: a fee to get a new product onto a store shelves
   • listing fee: a charge to set up a new product in the stores system
   • pay to stay: ongoing free to keep a product on the shelf
   • growing the market: making the whole product categoty sell more
   • levers of category management
     • attract more shoppers
     • get shoppers to buy more
     • get shoppers to buy more often
     • rase how much they spend each time

5. value creation

   • customer perceived value: customers comparison of benefits versus costs when choosing between products
   • shopper value statement: consumer personal reasoning for purchase
   • transformation: any change in a products form, time, place or quality to increase its value
   • customer perceived value: the customer comparison of benefits versus costs when choosing between products
   • discrepencis in quality form temprality and spatial and form
   • supply chain functions: activites that add value and help overcome discrepencies
   • disintermediation: cutting out middlemen, producers sell directly to consumers
   • value capture: the profit or benefit each organisation in the supply chain gains from the value created
   • moving up the value chain: shifting to higher value tranfsormation or stages in production to gain more profit