Exam (elaborations)
WGU C720 OA LATEST EXAM REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)|AGRADE
- Course
- Institution
WGU C720 OA LATEST EXAM REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)|AGRADE
[Show more]
Content preview
WGU- C720Study online at https://quizlet.com/_8v8czu
Main Objectives: how a business
Operational Stategies
achieves organizational goals & compet-
Module 1,2,12,
itive advantage through operations & in-
16 - Questions
ventory management
EOQ
EPQ
QDM
Inventory Models
(Purpose of EOQ and EPQ is to minimus
costs of ordering/
holding inventory
The costs of holding inventory; includes
costs for storage space, interest paid on
Holding/Carrying Costs borrowed money to finance the inventory,
and any losses incurred due to damage
or obsolescence.
costs for ordering/holding inventory per
order
Finished goods
*Demand is known
*cost per unit not dependent on quantity
* Entire order delivered at once
when holding goes up, ordering goes
down & vice-versa
Economic Order Quantity (EOQ)
EOQ = intersection point where total an-
nual variable costs for holding and order-
ing inventory coincide.
, WGU- C720
Study online at https://quizlet.com/_8v8czu
A model that helps companies control
the cost of ordering, receiving, and hold-
ing inventory; this model allows for in-
complete inventory to arrive, thus prov-
ing useful for businesses that produce
Economic Production Quantity (EPQ)
their own parts; also known as Produc-
tion Order Quantity. RAW Materials
*Inventory is arriving into storage and
sent out into a production process*
A discount offered in price for ordering
above a specified amount
Quantity discount Model (QDM)/ Trans-
portation discounts
discount offered on shipping costs for
ordering above a specified amount
When 2+ companies partner and divides
Revenue Sharing the profits received based on an agree-
ment between all parties involved.
When a company stores, or pays another
Reserve Capacity company to store, excess inventory to be
used for unexpected demand
Organizations must have:
a. Strategy development
b. product development
c. system development to produce ser-
Key Processes
vices and goods
d. order fulfillment
to leverage impact
Market (Demand),
Primary Constraints in a System Process (throughput)
Product (Supply)
, WGU- C720
Study online at https://quizlet.com/_8v8czu
Inventory
1. Raw materials - Parts, materials from
suppliers
2. WIP - partly finished parts, compo-
nents, subassemblies or modules
3. Finished goods - Goods ready to ship
to the customer
4. Replacement parts Inventory - for ma-
chinery or equipment as those parts
wear out.
5. Supplies - things to support the pro-
duction process but not the actual prod-
Types of Inventory/Demand uct
6. Transportation (pipeline) - shipped
through distribution system
Vender Managed Inventory (VMI)
Available-to-Promise
Demand
1. Independent/Dependent
2. Dependent
3. Seasonal
4. Peak
5. Chase
6. Uneven/ Unexpected
When the vendor/supplier coordinates its
own inventory replenishment by receiv-
ing daily point-of-sale (POS) data from
retail stores.
Vender Managed Inventory (VMI)
Thus reducing costs and improving de-
livery performance between the supplier
and the retailer. -
Inventory that has not yet been sold.
Used to determine whether new orders
Available-to-promise can be accepted within given time peri-
od.
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 ProLabs. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.99. 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