WGU C720 OPERATIONS AND SUPPLY CHAIN
MANAGEMENT
Operations Management - Answers- The multidisciplinary science that organizations
use to acquire inputs (people, capital, material, or energy and transform them into
outputs (products and/or services) that ultimately provide value to the end customer
Biggest difference between Service Providers and Goods Producers - Answers- A good
is tangible and a service is not
Resources - Answers- People, Capital, and Materials
Product Design - Answers- The determination of the characteristics, features, and
performance of the product
Product Technology - Answers- The application of knowledge to improve the product
Process - Answers- Describes how to accomplish a task
Process Design - Answers- Describes how a product is made
Process Technology - Answers- The application of knowledge to improve a process
Teamwork Approach - Answers- In managing operation can help solve quality and
productivity problems
Strategy - Answers- Consists of the organizational goals and the methods for
implementing the goals, called key procedures
Business Process - Answers- A set of work activities with a preferred order, and
identifiable beginning and end, inputs, and clearly defined outputs that add value to the
customer
Plan - Answers- List of actions that management expects to take
Organizational Structure - Answers- The infrastructure of formal relationships among
different functions or subsystems, such as marketing, finance, and operations
Relative Advantage - Answers- The difference between the lowest cost producer and
the next lower cost producer
Ethics - Answers- A sense of what is right and what is wrong that guide behavior
, Sustainability - Answers- 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
Competitive Advantage - Answers- A capability that customers value, such as short
delivery lead-time or high product quality that gives an organization an edge against its
competition
Market Share - Answers- A company's sales divided by the sales of all companies in its
industry
Product Development - Answers- A teamwork oriented process that begins with the
organization's strategy and analysis of the markets as inputs
Supply Chain - Answers- Commonly used to refer to the network of organizations that
participate in producing goods or producing services
Focal Firm - Answers- Directs the flow of information much like a conductor coordinates
the activities of an orchestra
Vertical Intergration - Answers- Owning multiple assets in a supply chain
Logistics - Answers- Managing the movement of materials, components, and
information from point to point in the supply chain
Supply Chain Management - Answers- Taking actions to have all members of the
supply chain work together to coordinate their activities and share information
Reverse Logistics - Answers- When it is necessary to return defective products to the
manufacturer for repair or replacement
Insourcing - Answers- Goods and services that are provided by the organization
Outsource - Answers- Goods and services obtained by outside suppliers
Backward Vertical Integration - Answers- When a company owns its suppliers
SCOR Model - Answers- Offers framework of processes and metrics to help companies
monitor and control the performance of their supply chains
Lean Supply Chain - Answers- The company would plan to decrease days of supply
Constraint - Answers- Any resource whose capacity is less than or equal to demand for
that resource
Bottleneck - Answers- Most limiting constraint on the system
MANAGEMENT
Operations Management - Answers- The multidisciplinary science that organizations
use to acquire inputs (people, capital, material, or energy and transform them into
outputs (products and/or services) that ultimately provide value to the end customer
Biggest difference between Service Providers and Goods Producers - Answers- A good
is tangible and a service is not
Resources - Answers- People, Capital, and Materials
Product Design - Answers- The determination of the characteristics, features, and
performance of the product
Product Technology - Answers- The application of knowledge to improve the product
Process - Answers- Describes how to accomplish a task
Process Design - Answers- Describes how a product is made
Process Technology - Answers- The application of knowledge to improve a process
Teamwork Approach - Answers- In managing operation can help solve quality and
productivity problems
Strategy - Answers- Consists of the organizational goals and the methods for
implementing the goals, called key procedures
Business Process - Answers- A set of work activities with a preferred order, and
identifiable beginning and end, inputs, and clearly defined outputs that add value to the
customer
Plan - Answers- List of actions that management expects to take
Organizational Structure - Answers- The infrastructure of formal relationships among
different functions or subsystems, such as marketing, finance, and operations
Relative Advantage - Answers- The difference between the lowest cost producer and
the next lower cost producer
Ethics - Answers- A sense of what is right and what is wrong that guide behavior
, Sustainability - Answers- 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
Competitive Advantage - Answers- A capability that customers value, such as short
delivery lead-time or high product quality that gives an organization an edge against its
competition
Market Share - Answers- A company's sales divided by the sales of all companies in its
industry
Product Development - Answers- A teamwork oriented process that begins with the
organization's strategy and analysis of the markets as inputs
Supply Chain - Answers- Commonly used to refer to the network of organizations that
participate in producing goods or producing services
Focal Firm - Answers- Directs the flow of information much like a conductor coordinates
the activities of an orchestra
Vertical Intergration - Answers- Owning multiple assets in a supply chain
Logistics - Answers- Managing the movement of materials, components, and
information from point to point in the supply chain
Supply Chain Management - Answers- Taking actions to have all members of the
supply chain work together to coordinate their activities and share information
Reverse Logistics - Answers- When it is necessary to return defective products to the
manufacturer for repair or replacement
Insourcing - Answers- Goods and services that are provided by the organization
Outsource - Answers- Goods and services obtained by outside suppliers
Backward Vertical Integration - Answers- When a company owns its suppliers
SCOR Model - Answers- Offers framework of processes and metrics to help companies
monitor and control the performance of their supply chains
Lean Supply Chain - Answers- The company would plan to decrease days of supply
Constraint - Answers- Any resource whose capacity is less than or equal to demand for
that resource
Bottleneck - Answers- Most limiting constraint on the system
