WGU C720 OPERATIONS AND SUPPLY CHAIN MANAGEMENT – COMPLETE SOLUTION WITH CORRECT DETAILS GRADED A+
7 views 0 purchase
Course
WGU C720
Institution
WGU C720
WGU C720 OPERATIONS AND SUPPLY CHAIN MANAGEMENT – COMPLETE SOLUTION WITH CORRECT DETAILS GRADED A+
Operations - The process used to acquire inputs, such as people, capital, and material, and transform them into outputs, such as products and services.
Operations Manager - They alloca...
Operations - The process used to acquire inputs, such as people, capital, and material,
and transform them into outputs, such as products and services.
Operations Manager - They allocate resources.
Capital - Facilities and equipment
Competitive Advantage - Developing capabilities that customers value, can be
sustained over the long-term, and competitors find difficult to replicate.
Inseparability - The process of separating production from consumption; cannot be
done for services because they are produced and consumed simultaneously.
Technology - The application of knowledge, tools, processes, and procedures to solve
problems.
Product Design - The characteristics, features, and performance of the product; how
the product functions; does not fundamentally change the product. Example: changing
Coca-Cola's beverage containers from glass to aluminum.
Product Technology - The application of knowledge to improve the product.
Process - How to accomplish a task.
Process Design - How a product is made; can fundamentally alter the nature of the
product. Example: changing the taste of Coca-Cola.
Process Technology - The application of knowledge to improve a process.
Cross-Functionality - When individuals with different expertise work towards a common
goal; this is an essential business process.
Concurrent Engineering - Completing product design and process design
simultaneously.
,Functional Areas - Subsystems within an organization, such as marketing, finance, and
accounting, that are linked together by a common organizational goal.
Strategy - Consists of the organizational goals and the methods of implementing the
goals; every element of the SWOT analysis should be considered when developing
strategies.
Key Policies - Main goals of an organization.
Organizational Structure - The formal relationships among different functional areas
that aids in communication.
Relative Advantage - Where one entity has an advantage over another; will often trade
their specialized products for those that they do not produce; companies with a relative
advantage are able to produce products at a lower cost than their competitors.
North American Free Trade Agreement (NAFTA) - A free trade agreement between the
United State, Mexico, and Canada to reduce tariffs and other trade restrictions.
General Agreement on Tariffs and Trade (GATT) - A trade agreement designed to
reduce tariffs and other trade restrictions.
Sustainability - Balancing the interconnected obligations to economic viability, society,
and the environment (the triple bottom line).
What is the percentage of businesses that operate within the service sector? - 88
percent
Supporting Goods - Supplies and equipment that aid in the development of products
and services.
Market Share - The percentage of sales in a particular market.
VIRAL - Value, Inimitable, rare, aptitude, and lifespan.
SWOT Analysis - Analyzing the internal (strengths and weaknesses) and external
(opportunities and threats) environments.
Requirements for developing competitive advantage - SWOT, business process,
competitive capabilities, and customer requirements.
Learning Curve - Continuously improving a product to make it better and cheaper.
Synergy - Teamwork where the whole is greater than the sum of its parts.
, Key Processes - Strategy development, product development, system development,
and order fulfillment.
System - The process of producing goods and system.
Matching - Matching strengths to opportunities.
Converting - Converting weaknesses or threats into strengths or opportunities.
Productivity - Output / Input; the goal is achieving more output given the amount of
inputs, thus saving money and reducing production costs.
The bFirst bRevolution b- b bStarting bin bthe blate b1800s, bincreases bin bmanufacturing
bproductivity breduced bthe bneed bfor bphysical blabor band benabled ba bshift btowards bservice-
based bjobs.
The bSecond bRevolution b- b bProductivity band befficiency bimprovements bin bmanufacturing
bfreed bresources bfor bthe brapid bexpansion bof bthe bservice bindustry.
The bThird bRevolution b- b bAlso bknown bas bthe bpost-industrial bera, bthis brevolution bbegan bin
bthe b1950s bwith bthe bdevelopment bof bcomputers. bThis btechnology bhas ballowed bfewer
bpeople bto bdo bmore bwork.
Reliability b- b bThe bability bto bperform bdependably band baccurately.
Assurance b- b bKnowledge band bcourtesy bof bemployees band btheir bability bto bconvey btrust
band bconfidence.
Process bRedesign b- b bThe bcomplete boverhaul bof ba bprocess bto bimprove bperformance.
Percent bChange bin bProductivity b- b b[(New bProductivity b- bOld bProductivity)/Old
bProductivity] b* b100
Quality b(internal) b- b bHow bquality bis bdefined bby bthe bbusiness; boften bmeasured bas bthe
bamount bof ba bdesired battribute; bobjective.
Quality b(external) b- b bHow bquality bis bdefined bby bthe bcustomer band bthe bproduct's bfitness
bfor buse; bmeets bcustomer's bneeds band bexpectations; bsubjective.
Costs bof bQuality b- b bFailure bcosts, bappraisal bcosts, band bprevention bcosts.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Mboffin. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
