100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Operations and Supply Chain Management - C720 (WGU), Comprehensive revision guide, rated A+ CA$15.04   Add to cart
Quickly navigate to
Preview
  2.  
  3. C720 ,
  4.  
  5. C720 ,
  6.  
  7. C720 ,

Exam (elaborations)

Operations and Supply Chain Management - C720 (WGU), Comprehensive revision guide, rated A+
 1 view  0 purchase

Operations and Supply Chain Management - C720 (WGU), Comprehensive revision guide, rated 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 allocate resources....

[Show more]

Preview 4 out of 31  pages

Document information

  • February 25, 2023
  • 31
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

All documents for this subject (41)

Seller

avatar-seller
QuickPass

Reviews received

Content preview

Operations and Supply Chain
Management - C720 (WGU),
Comprehensive revision guide, rated 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 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 First Revolution - ✔✔-Starting in the late 1800s, increases in manufacturing productivity reduced
the need for physical labor and enabled a shift towards service-based jobs.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 QuickPass. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$15.04. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

83100 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$15.04
  • (0)
  Add to cart