WGU C720 OPERATIONS AND SUPPLY CHAIN MANAGEMENT – COMPLETE SOLUTION WITH CORRECT DETAILS GRADED A+
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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.
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