WGU C215 Operations Management Exam With Correct Answers

Advertising revenue model - Answer Provides users with information on services and products and provides an opportunity for suppliers to advertise Affiliate revenue model - Answer Companies receive a referral fee for directing business to an affiliate Appraisal cost - Answer The cost associated with uncovering defects Automated order entry systems - Answer A method using telephone models to send digital orders to suppliers. Backwards integration - Answer Owning or controlling sources of raw materials and components. Benchmarking - Answer Studying other companies business practices for comparison. Bullwhip effect - Answer Inaccurate or distorted demand information created in the supply chain. Business to Business commerce - Answer Businesses buying and selling to other businesses. Business to consumer commerce - Answer Businesses selling to individual consumers. Cause and effect diagrams - Answer A chart that identifies potential causes of particular quality problems. Checklist - Answer A list of common defects and the number of observed occurrences of each. Conformance to specifications - Answer how well a product or service meets the targets and tolerances set by designers. Continuous improvement - Answer A philosophy of never ending improvement. Control charts - Answer Charts used to evaluate whether a process is operating within expectations. Crossdocking - Answer Eliminates storage and order picking functions of a distribution warehouse. Customer defined quality - Answer an integrated effort designed to improve quality performance at every level of the organization. Deming Prize - Answer Japanese award for companies to recognize efforts in quality improvement. Distribution management - Answer Responsible for the movement of material from the manufacturer to the customer. Distribution warehouse - Answer Used for short term storage, consolidation, and product mixing. Distributor crossdocking - Answer the receiving and consolidating of inbound products from different vendors into a multi-SKU pallet. E-commerce - Answer Using the internet and web to do business. E-distributors - Answer Independently owned net marketplaces having catalogs representing thousands of suppliers and designed for spot purchases. E-purchasing - Answer Companies that connect onlone MRO suppliers to businesses that pay fees to join the market, usually for long term contractual purchasing. Early supplier involment (ESI) - Answer Involvement of critical suppliers in new product design. Electronic data interchange (EDI) - Answer A form of computer to computer communications that enables sharing business documents. Electronic requests for quotes (eRFQs) - Answer An electronic request for a quote on goods and services. Electronic storefront - Answer online catalogs of products made available to the general public by a single supplier Exchanges - Answer Marketplaces that focus on spot requirements of larger firms in a single industry External Failure costs - Answer Costs associated with failures that occur at the customer site. Extranets - Answer intranets that are linked to the internet so that suppliers and customers can be included in the system. Fitness for use - Answer How well the product performs its intended purpose. Flowchart - Answer A schematic of the sequence of steps involved in a process. Forward integration - Answer Owning or controlling the channels of distributions General warehouse - Answer used for long term storage Green supply chain management - Answer Focucses on the role of the supply chain with regard to its impact on the environment. Histogram - Answer A chart that shows frequency distribution of observed values of a variable. Incoming inspection - Answer verifies the quality of incoming goods Industry consortia - Answer Industry owned markets for purchase of direct inputs from limited number of suppliers. Insourced - Answer processes and activities completed in house Internal failure costs - Answer costs associated with discovering poor quality product before it reaches customers. Intranets - Answer networks internal to the organization ISO 14000 - Answer Set of standards & certification focused on environmental responsiblity ISO 9000 - Answer Set of quality standards & certification indicating companies have met that standard.