10/30/24, 5:52 PM 2024 update |WGU C720 OA |2024-2025 |COMPLETE MOST TESTED QUESTIONS AND VERIFIED ANSWERS |(100% cor…
2024 update |WGU C720 OA |2024-2025
|COMPLETE MOST TESTED QUESTIONS AND
VERIFIED ANSWERS |(100% correct
solutions)|GET IT A+ RIGHT!!
Terms in this set (153)
Inputs People, capital, material, money
Outputs Services and goods
Defined broadly in operations and supply chain
management as the ethical issues an organization
Sustainability faces to balance financial performance while
maintaining social responsibility standards and a
responsible environmental profile.
Acronym - A framework for competitive advantage.
Viral, Inimitable, Rare, Aptitude, Lifespan.
VIRAL The advantage must provide Value to consumers; it
should be Inimitable (not easily imitated), Rare, and
an organization must have the Aptitude (capability)
and Lifespan (sustainability) to earn appropriate
returns on the advantage.
A mathematical calculation; it is the ratio of the
Productivity outputs achieved divided by the inputs consumed to
achieve those outputs.
, 10/30/24, 5:52 PM 2024 update |WGU C720 OA |2024-2025 |COMPLETE MOST TESTED QUESTIONS AND VERIFIED ANSWERS |(100% cor…
o Raw Materials
o Work In Progress
o Finished Goods
6 Types of Inventory
o Replacement Parts Inventory
o Supplies
o Transportation
These parts and materials are obtained from
Raw Materials
suppliers and are used in the production process.
These are partly finished parts, components, sub-
Work-in-process (WIP)
assemblies, or modules.
Items are ready to ship to the customer. No more
Finished Goods
work is required.
Replacement parts These are maintained to replace other parts in
inventory machinery or equipment as those parts wear out
Parts or materials are used to support the
production process but not usually a component of
Supplies the product. These items, such as lubricant and
cutting tools, are consumed in the production
process.
The portion of inventory that is in the process of
Transportation (pipeline):
being shipped through the distribution system.
o Peak
o Seasonal
4 Types of Demand
o Unexpected
o Chase
Demand which occurs in response to planned
events such as advertising, publicity or promotion.
Peak Demand The release of a popular game franchise's latest
version often causes peak demand for a few days or
weeks.
Demand as shoppers adjust their purchase velocity
in line with holidays, especially Christmas. But
Seasonal Demand Halloween, Thanksgiving and even St. Patrick's Day
also create seasonal demand for certain kinds of
merchandise.
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