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Supply Chain Management, 5e (Chopra/Meindl) Chapter 16 Pricing and Revenue Management in a Supply Chain 16.1 True/False Questions 1) Revenue management is the use of marketing to increase the profit generated from a limited supply of supply chain assets. Answer: FALSE Diff: 2 Topic: 16.1 The Role of Pricing and Revenue Management in a Supply Chain Learning Outcome: Compare common approaches to supply chain design 2) Pricing may influence demand if customers are price sensitive. Answer: TRUE D
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   Supply Chain Management, 5e  (Chopra/Meindl)Chapter 16 Pricing and Revenue Management in a Supply Chain 16.1 True/False Questions1)  Revenue management is the use of marketing to increase the profit generated from a limited supply of supply chain assets.Answer: FA! #iff: $Topic: 16.1 The %ole of &ricing and %e'enue (anagement in a !upply hainearning *utcome: ompare common approaches to supply chain design$) &ricing may influence demand if customers are price sensiti'e.Answer: T%+ #iff: $Topic: 16.1 The %ole of &ricing and %e'enue (anagement in a !upply hainearning *utcome: ompare common approaches to supply chain design,) %e'enue management may also -e defined as the use of differential pricing -ased on customer segment time of use and product or capacity a'aila-ility to increase supply chain surplus.Answer: T%+ #iff: $Topic: 16.1 The %ole of &ricing and %e'enue (anagement in a !upply hainAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design0) %e'enue management adusts the pricing and a'aila-le supply of assets to ma2imi3e profits.Answer: T%+ #iff: 1Topic: 16.1 The %ole of &ricing and %e'enue (anagement in a !upply hainearning *utcome: ompare common approaches to supply chain design4) 5n theory the concept of differential pricing decreases total cost for a firm.Answer: FA! #iff: $Topic: 16.1 The %ole of &ricing and %e'enue (anagement in a !upply hainearning *utcome: ompare common approaches to supply chain design6) To differentiate -etween the 'arious market segments the firm must either eliminate -arriers that identify product or ser'ice attri-utes the segments 'alue differently.Answer: FA! #iff: 1Topic: 16.1 The %ole of &ricing and %e'enue (anagement in a !upply hainAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design 161opyright 7 $81, &earson ducation 5nc. pu-lishing as &rentice 9all  ) 5n most instances of differential pricing demand from the segment paying the lower price arises earlier in time than demand from the segment paying the higher price.Answer: T%+ #iff: $Topic: 16.1 The %ole of &ricing and %e'enue (anagement in a !upply hainAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design;) !poilage occurs when the capacity reser'ed for higher price -uyers is wasted -ecause demand from the higher price segment does not materiali3e.Answer: T%+ #iff: 1Topic: 16.$ &ricing and %e'enue (anagement for (ultiple ustomer !egmentsearning *utcome: ompare common approaches to supply chain design<) =astage occurs if higher price -uyers ha'e to -e turned away -ecause the capacity has already -een committed to lower price -uyers.Answer: FA! #iff: $Topic: 16.$ &ricing and %e'enue (anagement for (ultiple ustomer !egmentsearning *utcome: ompare common approaches to supply chain design18) An order from a lower price -uyer should -e accepted if the e2pected re'enue from a higher  price -uyer is lower than the current re'enue from the lower price -uyer.Answer: T%+ #iff: 1Topic: 16., &ricing and %e'enue (anagement for &erisha-le AssetsAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design11) The amount of the asset reser'ed for the higher price segment is such that the e2pected marginal re'enue from the higher priced segment is less than the price to the lower price segment.Answer: FA! #iff: 1Topic: 16.0 &ricing and %e'enue (anagement for !easonal #emandAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design1$) Any asset that loses 'alue o'er time is perisha-le.Answer: T%+ #iff: ,Topic: 16.4 &ricing and %e'enue (anagement for ulk and !pot ontractsearning *utcome: ompare common approaches to supply chain design 16$opyright 7 $81, &earson ducation 5nc. pu-lishing as &rentice 9all  1,) +nused capacity from the past is e2tremely 'alua-le.Answer: FA! #iff: 1Topic: 16., &ricing and %e'enue (anagement for &erisha-le Assetsearning *utcome: ompare common approaches to supply chain design10) The tactic of 'arying price o'er time is suita-le for assets such as fashion apparel that ha'e a clear date -eyond which they lose a lot of their 'alue.Answer: T%+ #iff: 1Topic: 16., &ricing and %e'enue (anagement for &erisha-le AssetsAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design14) ffecti'e differential pricing o'er time will generally increase the le'el of product a'aila-ility for the consumer willing to pay full price -ut will decrease total profits for the retailer.Answer: FA! #iff: $Topic: 16., &ricing and %e'enue (anagement for &erisha-le AssetsAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design16) The tactic of o'er-ooking or o'erselling the a'aila-le asset is suita-le in any situation where customers are a-le to cancel orders and the 'alue of the asset drops significantly after a deadline.Answer: T%+ #iff: 1Topic: 16., &ricing and %e'enue (anagement for &erisha-le AssetsAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design1) The -asic tradeoff to consider during o'er-ooking is -etween ha'ing wasted capacity >or in'entory) -ecause of few cancellations or ha'ing a shortage of capacity >or in'entory) -ecause of e2cessi'e cancellations.Answer: FA! #iff: $Topic: 16., &ricing and %e'enue (anagement for &erisha-le AssetsAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design1;) The cost of wasted capacity is the margin that would ha'e -een generated if the capacity had  -een used for production.Answer: T%+ #iff: $Topic: 16., &ricing and %e'enue (anagement for &erisha-le Assetsearning *utcome: ompare common approaches to supply chain design 16,opyright 7 $81, &earson ducation 5nc. pu-lishing as &rentice 9all  1<) The cost of a capacity shortage is the increase in producti'ity that results from ha'ing to go to a -ackup source.Answer: FA! #iff: $Topic: 16., &ricing and %e'enue (anagement for &erisha-le Assets$8) The goal when making the o'er-ooking decision is to ma2imi3e supply chain profits -y minimi3ing the cost of wasted capacity and the cost of capacity shortage.Answer: T%+ #iff: $Topic: 16., &ricing and %e'enue (anagement for &erisha-le AssetsAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design$1) Faced with seasonal peaks an effecti'e re'enue management tactic is to charge a higher  price during the peak period and a higher price during offpeak periods.Answer: FA! #iff: ,Topic: 16.0 &ricing and %e'enue (anagement for !easonal #emandAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design$$) !hifting demand from peak to offpeak periods is -eneficial if the discount gi'en during the offpeak period is more than offset -y the decrease in cost -ecause of a smaller peak and the increase in re'enue during the offpeak period.Answer: T%+ #iff: 1Topic: 16.0 &ricing and %e'enue (anagement for !easonal #emandAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design$,) The amount reser'ed for the spot market should -e such that the e2pected marginal re'enue from the spot market e?uals the current re'enue from a -ulk sale.Answer: T%+ #iff: $Topic: 16.0 &ricing and %e'enue (anagement for !easonal #emandearning *utcome: ompare common approaches to supply chain design$0) The reser'ed ?uantity will -e affected -y the difference in margin -etween the spot market and the -ulk sale -ut not the distri-ution of demand from the spot market.Answer: FA! #iff: $Topic: 16.0 &ricing and %e'enue (anagement for !easonal #emandAA!: Analytic !killsearning *utcome: ompare common approaches to supply chain design 160opyright 7 $81, &earson ducation 5nc. pu-lishing as &rentice 9all
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