WGU C720 Complete OA|153 Prep Guide Questions with 100% Correct Answers | Verified | Updated 2024

Inputs - ️️People, capital, material, money Outputs - ️️Services and goods Sustainability - ️️Defined broadly in operations and supply chain management as the ethical issues an organization faces to balance financial performance while maintaining social responsibility standards and a responsible environmental profile. VIRAL - ️️Acronym - A framework for competitive advantage. Viral, Inimitable, Rare, Aptitude, Lifespan. The advantage must provide Value to consumers; it should be Inimitable (not easily imitated), Rare, and an organization must have the Aptitude (capability) and Lifespan (sustainability) to earn appropriate returns on the advantage. Productivity - ️️A mathematical calculation; it is the ratio of the outputs achieved divided by the inputs consumed to achieve those outputs. 6 Types of Inventory - ️️o Raw Materials o Work In Progress o Finished Goods o Replacement Parts Inventory o Supplies o Transportation