WGU C720 Operations and Supply Chain Management – Questions and Answers Already Passed

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WGU C720 Operations and Supply Chain Management – Questions and Answers Already Passed Operations ✔✔The process used to acquire inputs, such as people, capital, and material, and transform t... hem into outputs, such as products and services. Operations Manager ✔✔They allocate resources. Capital ✔✔Facilities and equipment Competitive Advantage ✔✔Developing capabilities that customers value, can be sustained over the long-term, and competitors find difficult to replicate. Inseparability ✔✔The process of separating production from consumption; cannot be done for services because they are produced and consumed simultaneously. Technology ✔✔The application of knowledge, tools, processes, and procedures to solve problems. Product Design ✔✔The characteristics, features, and performance of the product; how the product functions; does not fundamentally change the product. Example: changing Coca-Cola's beverage containers from glass to aluminum. Product Technology ✔✔The application of knowledge to improve the product. Process ✔✔How to accomplish a task. Process Design ✔✔How a product is made; can fundamentally alter the nature of the product. Example: changing the taste of Coca-Cola. Process Technology ✔✔The application of knowledge to improve a process. Cross-Functionality ✔✔When individuals with different expertise work towards a common goal; this is an essential business process. Concurrent Engineering ✔✔Completing product design and process design simultaneously. Functional Areas ✔✔Subsystems within an organization, such as marketing, finance, and accounting, that are linked together by a common organizational goal. Strategy ✔✔Consists of the organizational goals and the methods of implementing the goals; every element of the SWOT analysis should be considered when developing strategies. Key Policies ✔✔Main goals of an organization. Organizational Structure ✔✔The formal relationships among different functional areas that aids in communication. Relative Advantage ✔✔Where one entity has an advantage over another; will often trade their specialized products for those that they do not produce; companies with a relative advantage are able to produce products at a lower cost than their competitors. North American Free Trade Agreement (NAFTA) ✔✔ [Show More]

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