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Saks Fifth Avenue Employs a Quick Response System to Order

question 30

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Saks Fifth Avenue employs a quick response system to order fast-moving fashion items. Saks' point-of-sales scanner records each sale. When stock falls below a minimum level, the system automatically sends an electronic order to the vendor (e.g., Donna Karan) , which processes the order within 48 hours. This system has effectively reduced __________.


Definitions:

Maturity

A stage in a product's lifecycle or a market where growth slows, characterized by high competition and saturated demand.

Institutional Advertisements

Advertisements designed to build goodwill or an image for an organization rather than promote a specific product or service.

Goodwill

An intangible asset that represents the value of a company’s brand name, customer relationships, employee relations, and other factors not physical in nature.

Image

The perception or representation of someone or something as reflected through media, design, or public opinion.

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