Operations and Supply Chain Management –WGU C720 OA Prep Guide. Latest Version, verified.
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Course
WGU C720
Institution
WGU C720
Operations and Supply Chain Management –WGU C720 OA Prep Guide. Latest Version, verified.
Output - -represent the final good or service that is produced for the consumer.
are worth more to the consumer than the total cost of the inputs.
Inputs - -People
Capital
Material
Energy
Ou...
operations and supply chain management –wgu c720 oa prep guide latest version
verified output represent the final good or service that is produced for the consumer are worth more to the con
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Operations and Supply Chain
Management –WGU C720 OA Prep
Guide. Latest Version, verified.
Output - ✔✔-represent the final good or service that is produced for the consumer.
are worth more to the consumer than the total cost of the inputs.
Inputs - ✔✔-People
Capital
Material
Energy
Outputs - ✔✔-Services
Goods
Ethics - ✔✔-a sense of what is right and wrong that guide behavior.
Unethical Business Practices - ✔✔-Anything related to fraud, wrong doing, dishonesty, etc., even if it is
to protect the company, is considered ________ _________ _______.
Sustainability - ✔✔-defined as the ethical issues an organization faces to balance financial performance
while maintaining social responsibility standards and a responsible environmental profile.
,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.
VIRAL uses as a framework.
VIRAL - ✔✔-framework for competitive advantage.
Advantage must provide:
Value to consumers
Inimitable - not easily imitated
Rare
Aptitude - capability
Lifespan - sustainability to earn appropriate returns on the advantage.
can assist in future planning to achieve objectives.
Strengths - ✔✔-characteristics of the business or project that lend an advantage within the scope of the
study.
Weaknesses - ✔✔-characteristics of a business or project that result in a disadvantage, relative to
others.
opporunities - ✔✔-elements that the project could exploit to its advantage.
,Threats - ✔✔-elements in the environment that could cause trouble for the business or project
Productivity - ✔✔-is a mathematical calculation; it is the ratio of the outputs achieved divided by the
inputs consumed to achieve those outputs.
Inventory - ✔✔-the term for goods available for sale and raw materials used to produce goods available
for sale.
Can help businesses meet demand and work more efficiently.
6 types of inventory - ✔✔-Raw Materials
Work-in-Process (WIP)
Finished Goods
Replacement Parts Inventory
Supplies
Transportation (Pipeline)
Raw Materials Inventory - ✔✔-these parts and materials are obtained from supplies and are used in the
production process.
Work-in-process (WIP) inventory - ✔✔-these are partly finished parts, components, subassemblies, or
modules.
, finished goods inventory - ✔✔-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 Inventory - ✔✔-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) inventory - ✔✔-the portion of inventory that is in the process of being shipped
through the distribution system.
Peak Demand - ✔✔-occurs in response to planned events such as advertising, publicity, or promotion.
Ex. release of a popular game franchise's latest version.
Seasonal Demand - ✔✔-as shoppers adjust their purchase velocity in line with holidays, especially
Christmas.
Unexpected Demand - ✔✔-occurs due to a usually-unexpected event.
Chase demand - ✔✔-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. They may choose to provide overtime by asking
workers to stay on the job beyond their normally scheduled time.
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