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WGU C720 OPERATIONS AND SUPPLY CHAIN MANAGEMENT | COMPLETE SOLUTION GRADED A+ $11.99
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WGU C720 OPERATIONS AND SUPPLY CHAIN MANAGEMENT | COMPLETE SOLUTION GRADED A+
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WGU C720 OPERATIONS AND SUPPLY CHAIN MANAGEMENT | COMPLETE SOLUTION GRADED A+ Operations Management - The multidisciplinary science that organizations use to acquire inputs (people, capital, material, or energy and transform them into outputs (products and/or services) that ultimately provide...

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  • September 11, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • wgu c720 operations and supply chain management

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  • WGU C720
  • WGU C720

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Operations Management - The multidisciplinary science that organizations use to
acquire inputs (people, capital, material, or energy and transform them into outputs
(products and/or services) that ultimately provide value to the end customer

Biggest difference between Service Providers and Goods Producers - A good is
tangible and a service is not

Resources - People, Capital, and Materials

Product Design - The determination of the characteristics, features, and performance of
the product

Product Technology - The application of knowledge to improve the product

Process - Describes how to accomplish a task

Process Design - Describes how a product is made

Process Technology - The application of knowledge to improve a process

Teamwork Approach - In managing operation can help solve quality and productivity
problems

Strategy - Consists of the organizational goals and the methods for implementing the
goals, called key procedures

Business Process - A set of work activities with a preferred order, and identifiable
beginning and end, inputs, and clearly defined outputs that add value to the customer

Plan - List of actions that management expects to take

Organizational Structure - The infrastructure of formal relationships among different
functions or subsystems, such as marketing, finance, and operations

Relative Advantage - The difference between the lowest cost producer and the next
lower cost producer

, Ethics - A sense of what is right and what is wrong that guide behavior

Sustainability - Reflects the efforts organizations are expected to make to balance their
interconnected obligations to economic viability, the societies in which they operate, and
the natural environment

Competitive Advantage - A capability that customers value, such as short delivery lead-
time or high product quality that gives an organization an edge against its competition

Market Share - A company's sales divided by the sales of all companies in its industry

Product Development - A teamwork oriented process that begins with the
organization's strategy and analysis of the markets as inputs

Supply Chain - Commonly used to refer to the network of organizations that participate
in producing goods or producing services

Focal Firm - Directs the flow of information much like a conductor coordinates the
activities of an orchestra

Vertical Intergration - Owning multiple assets in a supply chain

Logistics - Managing the movement of materials, components, and information from
point to point in the supply chain

Supply Chain Management - Taking actions to have all members of the supply chain
work together to coordinate their activities and share information

Reverse Logistics - When it is necessary to return defective products to the
manufacturer for repair or replacement

Insourcing - Goods and services that are provided by the organization

Outsource - Goods and services obtained by outside suppliers

Backward Vertical Integration - When a company owns its suppliers

SCOR Model - Offers framework of processes and metrics to help companies monitor
and control the performance of their supply chains

Lean Supply Chain - The company would plan to decrease days of supply

Constraint - Any resource whose capacity is less than or equal to demand for that
resource

Bottleneck - Most limiting constraint on the system

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