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WGU C720 Complete OA Prep Guide. Updated 2023/2024. Verified.

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WGU C720 Complete OA Prep Guide. Updated 2023/2024. Verified. Inputs - -People, capital, material, money Outputs - -Services and goods Sustainability - -Defined broadly in operations and supply chain management as the ethical issues an organization faces to balance financial performance...

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  • February 25, 2023
  • 27
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • capital
  • material
  • wgu c720 complete oa prep guide updated 20232024 verified inputs people
  • money outputs services and goods sustainability defined broadly in operations and supply c

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WGU C720 Complete OA Prep Guide.
Updated 2023/2024. Verified.


Inputs - ✔✔-People, capital, material, money




Outputs - ✔✔-Services and goods




Sustainability - ✔✔-Defined broadly in operations and supply chain management as the ethical issues an
organization faces to balance financial performance while maintaining social responsibility standards
and a responsible environmental profile.




VIRAL - ✔✔-Acronym - A framework for competitive advantage.




Viral, Inimitable, Rare, Aptitude, Lifespan.




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.




Productivity - ✔✔-A mathematical calculation; it is the ratio of the outputs achieved divided by the
inputs consumed to achieve those outputs.




6 Types of Inventory - ✔✔-o Raw Materials

,o Work In Progress

o Finished Goods

o Replacement Parts Inventory

o Supplies

o Transportation




Raw Materials - ✔✔-These parts and materials are obtained from suppliers and are used in the
production process.




Work-in-process (WIP) - ✔✔-These are partly finished parts, components, sub-assemblies, or modules.




Finished Goods - ✔✔-Items are ready to ship to the customer. No more work is required.




Replacement parts inventory - ✔✔-These are maintained to replace other parts in machinery or
equipment as those parts wear out




Supplies - ✔✔-Parts or materials are used to support the production process but not usually a
component of the product. These items, such as lubricant and cutting tools, are consumed in the
production process.




Transportation (pipeline): - ✔✔-The portion of inventory that is in the process of being shipped through
the distribution system.




4 Types of Demand - ✔✔-o Peak

, o Seasonal

o Unexpected

o Chase




Peak Demand - ✔✔-Demand which occurs in response to planned events such as advertising, publicity
or promotion. The release of a popular game franchise's latest version often causes peak demand for a
few days or weeks.




Seasonal Demand - ✔✔-Demand as shoppers adjust their purchase velocity in line with holidays,
especially Christmas. But Halloween, Thanksgiving and even St. Patrick's Day also create seasonal
demand for certain kinds of merchandise.




Unexpected Demand - ✔✔-Demand which occurs due to a usually-unexpected event. For example, an
underdog school may upset a favorite during the NCAA's basketball tournament, causing a run on their
merchandise.




Chase Demand - ✔✔-Demand that occurs when a company has to adjust production by rates to match
demand by varying the workforce and using overtime. Companies vary the workforce by adding or
reducing the number of employees on duty at any given time. And they may choose to provide overtime
by asking workers to stay on the job beyond their normally scheduled time.




Safety Stock - ✔✔-A cushion of inventory to protect against unexpected demand. In this way, they can
continue to meet customer demand without delays.




Stock Out - ✔✔-Occurs when inventory is depleted.

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