C720 Operations and supply chain management Exam Questions with 100% Correct Answers | Graded A+

C720 Operations and supply chain management Exam Questions with 100% Correct Answers | Graded A+ Teamwork - ✔✔Teamwork in operations benefit the customer when coordinated decisions within an organization produce high quality products that customers value. Product design - ✔✔consideration of the characteristics, features, and performance of the product. Product technology - ✔✔application of knowl edge to improve the product. Process design - ✔✔describes how a product will be made. Process technology - ✔✔application of knowledge to improve a process C720: OPERATIONS & SUPPLY CHANGE MANAGEMENT - NOTES / STUDY GUIDE - ✔✔ Teamwork - ✔✔Teamwork in o perations benefit the customer when coordinated decisions within an organization produce high quality products that customers value. Product and process design - ✔✔are crucial and relate to both the design of goods and services. Product design - ✔✔consid eration of the characteristics, features, and performance of the product. Product technology - ✔✔application of knowledge to improve the product. Process design - ✔✔describes how a product will be made. Process technology - ✔✔application of knowledge to improve a process. Teamwork can help make improvements to products - ✔✔. To remain competitive in the global marketplace, teamwork should be utilized to help solve quality and productivity problems. Most organizations develop common goals during the budgeting and planning process, which are done annually. - ✔✔ Many businesses are shifting to organization by process due to - ✔✔today's fast paced environment. Organizational structures - ✔✔designed by proc ess cross -functional lines. Cross -functionality - ✔✔a unique feature important to any organization. Eliminating functional silos - ✔✔allows teams to share knowledge and understanding of decision -making across the organization. Decentralizing decision -mak ing leads to more cross -functional teams. Relative advantage - ✔✔the difference between the lowest cost producer and the next -lowest cost producer Ethics - ✔✔a sense of what is right and wrong that guide behavior. Sustainability - ✔✔reflects the efforts organizations are expected to make to balance their interconnected obligations to economic viability, the societies in which they operate, and the natural environment - the "triple bottom line." Organizations need to focus on how a decision affects - ✔✔profitability, employees, the community, and the environment, in the long and short term. Competitive advantage - ✔✔a capability that customers value that gives an organization an edge against its competition. VIRAL - ✔✔Value to consumers, it should be In imitable (not easily imitated), Rare, and an organization should have the Aptitude and Lifespan to earn appropriate returns on the advantage. SWOT Analysis - ✔✔assists in planning to achieve objectives. Key processes - ✔✔organizations must have: strategy development, product development, development of systems to produce services and goods, and order fulfillment to leverage impact. Systems development key to meeting strategic goals. - ✔✔Resources include : people, facilities, equipment, materials, and energy. Process redesign facilitates working toward a common goal in organizations. - ✔✔ Productivity - ✔✔a mathematical calculation. It is the ratio of the outputs achieved divided by the inputs consumed t o achieve those outputs. Productivity Output / Input. Change in productivity = (new productivity - old productivity) / old productivity. Labor productivity - ✔✔Quantity or value of units produced divided labor hours or labor cost. Labor Productivity = Qua ntity or Value of Units Produced / Labor Hours or Labor Costs. Quality - ✔✔is determined by the customer and how the customer will use a product. to judge service quality: - ✔✔Reliability - ability to perform the promised service dependably and accurately .Responsiveness - willingness to help customers and provide prompt service. Reliability - ✔✔ability to perform the promised service dependably and accurately. Responsiveness - ✔✔willingness to help customers and provide prompt service.