2. Explain how an efficient supply chain system can increase a retailer’s level of product availability and decrease its inventory investment.

3. Abandoned purchases as a result of stockouts can mean millions of dollars a year in lost sales. How are retailers and manufacturers using technology to reduce stockouts and improve sales?

1. What is a customer relationship management (CRM) program? Describe one CRM program that you have participated in as a customer.

2. Why do some customers have a low or negative CLV value? What approach can retailers take with these customers to minimize their impact on the bottom line?

3. Why are most frequent-shopper programs ineffective in terms of building loyalty? What can be done to make them more effective?